GE Vernova T&D
GE Vernova T&D Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Next fiscal year is expected to be significantly stronger in terms of ordering compared to the current year, indicating growth in sales and revenue (Page 18). The company expects FY '25-'26 to deliver EBITDA at the higher end of mid-20s percentage, indicating strong profitability.
From GE Vernova T&D's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Next fiscal year is expected to be significantly stronger in terms of ordering compared to the current year, indicating growth in sales and revenue (Page 18).
- The company reported a robust 58% revenue growth in Q3 and 46% growth in 9-month period year-on-year, showing strong execution momentum (Page 6).
- Export orders, which generally have better margins, contribute around 24-27% of the order book and are expected to continue, supporting revenue growth (Page 12-13).
- Healthy order book of INR144 billion with strong visibility from private, central, and public sector customers supports sustained revenue growth (Page 6).
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Profitability & Margins
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Capital Expenditure Plans
- GE Vernova T&D India Limited is currently investing in capex of around INR 1,000 crores.
- The capex investments have respective timelines extending into FY 2026-27 and FY 2027-28.
- The company continuously monitors capacity and is ready to invest further when required, with internal strategic discussions ongoing.
- For HVDC projects, current capacity is sufficient to execute recently won projects without immediate need for additional capacity.
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Top-ranked in Electrical Equipment
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
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Order Book & Pipeline
- Current order book stands at INR144 billion (INR14,400 crores).
- Projects constitute less than 30% currently but HVDC turnkey projects will increase this share.
- About 24% to 27% of the order book is from export markets, with the rest domestic.
- Order booking for the current financial year (FY25-26) is INR61.6 billion, with 15% export and 85% domestic orders.
- Ordering this year is significantly lower than last fiscal when it exceeded INR1 lakh crore.
- Pipeline indicates expectations of a stronger year ahead with multiple TBCB projects at the tendering stage.
- HVDC capacity available for more projects; specific pipeline numbers are not disclosed due to commercial sensitivity.
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GE Vernova T&D — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): 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 →
- Q1 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 Q3 FY26 results?
Next fiscal year is expected to be significantly stronger in terms of ordering compared to the current year, indicating growth in sales and revenue (Page 18). The company expects FY '25-'26 to deliver EBITDA at the higher end of mid-20s percentage, indicating strong profitability.
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 is currently investing in capex of around INR 1,000 crores.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.