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GE Vernova T&D

Q4 FY25Electrical Equipment

GE Vernova T&D Q4 FY25 earnings call: Revenue & Margins

Q4 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹4,127
Market cap₹1.1L Cr
P/E82.5
Updated23 Aug 2026
Read4 min read

The short version

Strong revenue growth observed: Q4 FY25 revenue up 26% YoY to INR11.5 billion; full year FY25 revenue up 35% YoY to INR42.9 billion. Strong growth momentum is expected to continue given robust demand in transformers, switchgear, HVDC, FACTS, and advanced grid technologies.

From GE Vernova T&D's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Strong revenue growth observed: Q4 FY25 revenue up 26% YoY to INR11.5 billion; full year FY25 revenue up 35% YoY to INR42.9 billion.
  • Order backlog nearly doubled from INR62.7 billion (Mar '24) to INR126.6 billion (Mar '25), indicating robust future sales.
  • Domestic market is the primary growth driver but exports (Africa, Southeast Asia, Latin America, Europe) also expanding.
  • Significant investments (INR250 crores capex mainly for HVDC) aimed at boosting capacity to meet growing demand.
  • Increasing focus on profitable product orders (vs turnkey projects) to improve margins and sustain growth.
  • Anticipation of strong demand for transformers, switchgears, STATCOM, HVDC, and digital grid solutions.

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Profitability & Margins

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Capital Expenditure Plans

  • Total capex planned is around INR 240-250 crores, including:
  • INR 140 crores primarily for HVDC capacity expansion, focusing on domestic demand initially with potential export support.
  • An additional INR 80-90 crores to debottleneck and enhance existing business lines.
  • Capex will expand HVDC valve and control manufacturing capacity, which was closed after previous projects but is being re-established due to market growth.
  • New factory for building HVDC components and STATCOM products, expected operational by 2027 in Chennai, aiding localization and competitiveness.
  • No current plans for backward integration in component manufacturing.

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Top-ranked in Electrical Equipment

Ranked on what management guided this quarter

Guidance-ranked
1Waaree Energies Ltd
Rev 1Mar 1
2MTAR Technologies Ltd
Rev 1Mar 1
3
Rev 1Mar 1
4
Rev 1Mar 2
5
Rev 1Mar 2
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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 March 2025, the order backlog stands at INR 126.6 billion, nearly doubling from INR 62.7 billion in March 2024.
  • Out of this, approximately INR 38-40 billion are long-tenure projects with execution timelines of 3 to 5 years.
  • Around INR 85 billion of orders are executable within the next 18 months to 2 years.
  • The company actively receives and executes orders during the same financial year, contributing to book-to-bill.
  • Recent quarters saw an order intake of about INR 29.9 billion, more than twice compared to the corresponding quarter last year.
  • Large orders booked include 765 kV transformers and reactors from Power Grid and Sterlite, 400 kV GIS from Adani Group, and others.

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GE Vernova T&D — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

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

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Frequently Asked Questions

What were GE Vernova T&D Q4 FY25 results?

Strong revenue growth observed: Q4 FY25 revenue up 26% YoY to INR11.5 billion; full year FY25 revenue up 35% YoY to INR42.9 billion. Strong growth momentum is expected to continue given robust demand in transformers, switchgear, HVDC, FACTS, and advanced grid technologies.

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?

Total capex planned is around INR 240-250 crores, including: - INR 140 crores primarily for HVDC capacity expansion, focusing on domestic demand initially with potential export support.

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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.