CG Power and Industrial Solutions has informed that the Board of Directors of the Company at its meeting held today (19th October 2022), considered and approved the Unaudited Financial Results and Segment-Wise Financial Report of the Company, both on standalone as well as consolidated basis, for the 2nd quarter and half year ended 30th September, 2022 (Financial Results) as recommended by the Audit Committee of the Company. A copy of the Financial Results is enclosed for information and records. It also enclosed a copy of the Limited Review Report on the Financial Results for the 2nd quarter and half year ended 30th September 2022, signed by SRBC & CO LLP, Chartered Accountants, Statutory Auditors of the Company. Further, the Board of Directors has approved as follows: On recommendation of the Nomination and Remuneration Committee the re-appointment of Natarajan Srinivasan as Managing Director of the Company for a further period of 1 year from 26th November, 2022 up to 25th November, 2023, subject to the approval of the shareholders of the Company within the prescribed timeline. It may be further noted that Srinivasan is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or of any other authority. The details as per Regulation 30 of SEBI (Listing Regulations and Disclosure Requirements) Regulations, 2015 is enclosed as Annexure A. A proposal to expand the manufacturing capacity of Motors at its plants at Ahmednagar and Goa at a capital outlay of Rs 230 crore.
The above information is a part of company’s filings submitted to BSE.
