The effect of Co-P-CNT coating on the magnetic properties of grain oriented electrical steel was investigated. To analyse the coating, Raman spectroscopy, Superconducting QUantum Interference Device (SQUID), single strip testing, Scanning Electron Microscopy (SEM) and talysurf surface profilometry were performed. Raman spectra showed the D and G band which corroborates the presence of Multi-Walled Carbon Nanotubes (MWCNT) in the coating. The magnetic nature of the coating was confirmed by SQUID results. Power loss results show an improvement ranging 13-15% after coating with Co-P-CNT. The resistivity of the coating was measured to be 104 μ cm. Loss separation graphs were plotted before and after coating to study the improvement in power loss. It was found that the coating helps in reducing the hysteresis loss. The thickness of the coating was found to be 414±40 nm. The surface profilometry results showed that the surface roughness improved after coating the sample.