GE Vernova T&D
GE Vernova T&D Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
The company expects continued strong growth with a 39% year-on-year revenue increase already observed in Q1 FY '25-'26. The company demonstrated strong financial performance in Q1 FY '25-'26 with 40% revenue growth and significant EBITDA margin expansion (29.1%, up 1000 basis points from previous year).
From GE Vernova T&D's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company expects continued strong growth with a 39% year-on-year revenue increase already observed in Q1 FY '25-'26.
- Export contribution to revenues is targeted at about 30% in the long term, with export backlog currently around 30% of total backlog.
- Pipeline growth for non-HVDC orders is expected to be in the single digits, approximately 7-8% over last year.
- The company sees potential to grow volumes by around 15% over the next 3 years, even without large HVDC orders.
- Execution of backlog valued at about INR130 billion supports revenue visibility for the next 3 years.
- Demand across domestic and export markets remains strong, supported by energy transition trends globally.
- Capacity expansions and debottlenecking efforts are ongoing to support growing volumes and orders.
- Pricing environment is stabilizing, aiding sustainable margin and revenue growth.
Profitability & Margins
See what GE Vernova T&D said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- GE Vernova T&D India Limited has announced a capex of approximately INR 2.5 billion.
- This includes INR 1.4 billion allocated for valves and controls for HVDC and STATCOM projects.
- An additional INR 1.1 billion is planned as regular capex to debottleneck factory capacities.
- The company continues to evaluate options for utilizing available cash of INR 8 billion for further strategic investments or capacity expansion.
- Management regularly assesses the timing and scale of future capacity expansions based on demand.
- No concrete new large-scale capex plans have been disclosed beyond the current announced investments; decisions will be communicated as made.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what GE Vernova T&D said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- As of June 30, 2025, GE Vernova T&D India's order backlog stands at INR129.6 billion, up 2% quarter-on-quarter.
- The backlog represents approximately 3 times the revenue of the previous year, providing visibility for the next 2-3 years.
- About 30% of the backlog is from export orders.
- Approximately 30-35 billion INR of the backlog is long-term with execution cycles of 3 to 5 years; the remaining INR95-100 billion has an execution timeline of 18 to 24 months.
- Order inflows during Q1 FY 2025-26 were INR16.2 billion, a 57% year-over-year increase.
- 14% of Q1 orders were from exports, with 86% domestic.
- The company expects steady export growth and continues to focus on disciplined underwriting and selectivity in order booking.
GE Vernova T&D — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.6K Cr, net profit ₹352 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What GE Vernova T&D India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q4 FY26 earnings call →
- Q2 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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Frequently Asked Questions
What were GE Vernova T&D Q1 FY26 results?
The company expects continued strong growth with a 39% year-on-year revenue increase already observed in Q1 FY '25-'26. The company demonstrated strong financial performance in Q1 FY '25-'26 with 40% revenue growth and significant EBITDA margin expansion (29.1%, up 1000 basis points from previous year).
What is GE Vernova T&D share price analysis?
GE Vernova T&D currently shows a neutral. The stock trades at a P/E of 82.5 with a market cap of ₹111,382 Cr. Investors should review the full earnings analysis for detailed insights.
Is GE Vernova T&D planning capital expenditure?
GE Vernova T&D India Limited has announced a capex of approximately INR 2.5 billion.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.