The present disclosure discloses a Condition Monitoring Device (CDM), configured to monitor power consumption and loading of motor. The CDM receives value of a measured current in a stator of the motor, and measures at least one of a magnetic flux around the motor and vibrations in the motor. The magnetic flux, the vibrations and the current in the stator are measured within a predefined time window. The CDM calculates various parameters of the motor and estimates a value of current using the measurements and rated parameters stored in the CDM. The estimated parameter of current is compared with the measured value of current. A value of rotor speed (one of the rated parameters) is varied until the value of the estimated current is approximately equal to the value of the measured current. The value of current is considered to monitor power consumption and loading of the motor.