CG Power & Industrial Solutions Limited has announced key changes in its senior management personnel, specifically within its railway business division. The company informed stock exchanges about the resignation of one senior executive and the appointment of his replacement.

Senior Management Transition

The company reported two significant personnel changes affecting its railway business operations. Mr. Chidambaram Balakrishnan, who served as Vice President - Railways, tendered his resignation effective from the close of business hours on January 1st, 2026. His departure was attributed to personal reasons, and he ceased to be part of the company's senior management personnel.

New Leadership Appointment

To fill the vacant position, CG Power appointed Mr. Dhananjay Bapat as Vice President Railway Business, effective January 2nd, 2026. The appointment ensures continuity in the company's railway business operations with minimal disruption.

Professional Background of New Executive

Mr. Dhananjay Bapat brings extensive experience to his new role at CG Power. His professional credentials include:

• Total Experience: 27 years in manufacturing, sales, marketing, product management, service, and P&L management
• Industry Exposure: Diverse industry sectors with comprehensive commercial functions leadership
• Certifications: HBX CORE and HBX Negotiation Mastery certified business leader
• Specialized Skills: Visual & Daily management, Funnel management, Value selling, and Building Personal Brand
• Educational Qualifications: B.E. in Mechanical Engineering and MMM & DMS in Marketing

Regulatory Compliance

The company fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Sanjay Kumar Chowdhary communicated these changes to both BSE Limited (Scrip Code: 500093) and National Stock Exchange of India Ltd. The notifications included all required details as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13th, 2023.

Strategic Implications

The seamless transition in railway business leadership demonstrates CG Power's commitment to maintaining operational continuity. With Mr. Bapat's extensive background in commercial functions and process-driven approach to enhance productivity and profitability, the company appears well-positioned to continue its railway business operations without disruption.

CG Power & Industrial Solutions has reportedly entered into preliminary discussions with Apple regarding the assembly and packaging of iPhone components in India. The exploratory conversations mark a potential significant development for the electrical equipment manufacturer as it seeks to diversify its business operations.

Preliminary Discussions with Apple

According to reports, Apple has initiated talks with Indian chip manufacturers, including CG Power & Industrial Solutions, to explore opportunities for assembling and packaging iPhone components locally. These discussions are part of Apple's broader strategy to expand its manufacturing footprint in India and reduce dependence on other markets.

The conversations are described as exploratory in nature, indicating that both companies are in the early stages of evaluating the potential partnership. The discussions focus on CG Power's capabilities to handle the technical requirements for iPhone component assembly and packaging.

Strategic Implications

For CG Power & Industrial Solutions, these preliminary talks represent a potential entry point into the consumer electronics manufacturing sector. The company, which primarily operates in the electrical equipment and power solutions segment, could leverage this opportunity to expand its technological capabilities and client base.

The potential collaboration aligns with Apple's ongoing efforts to strengthen its supply chain presence in India, following the success of iPhone assembly operations by other manufacturers in the country. If the discussions progress favorably, CG Power could become part of Apple's expanding ecosystem of Indian suppliers.

Current Status

The talks remain in the preliminary stage, with no definitive agreements or commitments announced by either party. The exploratory nature of these conversations suggests that both companies are assessing technical feasibility, capacity requirements, and commercial viability before proceeding to more formal negotiations.

If successful, this potential partnership could mark CG Power's entry into Apple's supply chain, potentially opening up new avenues for growth and diversification for the Indian company.