GE Vernova T&D India Ltd Q3 FY26 Earnings Analysis
Published 6 Jul 2026 | Electrical Equipment | Market Cap: ₹1.1L Cr
Price
₹4,352
Market Cap
₹1.1L Cr
P/E Ratio
83.6
How does GE Vernova T&D India Ltd rank in Electrical Equipment?
Compare GE Vernova T&D India Ltd against every Electrical Equipment company this quarter on revenue, margins and earnings-call signals.
GE Vernova T&D India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.6K Cr, net profit ₹352 Cr.
Full financials →Earnings Summary
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.
📊 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).
- →Government's large-scale investments in transmission (~INR50 lakh crores by 2032) and renewable energy expansion will underpin long-term demand (Page 13).
- →HVDC orders and strong domestic tendering pipeline add to growth prospects (Pages 16-18).
📈 Profitability & Margins
- →The company expects FY '25-'26 to deliver EBITDA at the higher end of mid-20s percentage, indicating strong profitability.
- →Management aims to maintain sustainable EBITDA margins in the mid-20s range going forward, with no significant deterioration anticipated in the foreseeable future.
- →Growth in volume (46% this financial year and 35% last year), price improvement, and execution productivity are key drivers of margin enhancement.
- →Healthy order backlog of INR144 billion with improved margin profile provides strong visibility for continued growth.
- →Large HVDC orders and increasing exports contribute positively to future revenue and profits.
- →Government's large-scale investments (INR50 lakh crores by 2032) in power and transmission signify a substantial long-term opportunity.
- →Continuous internal discussions and investments (INR1,000 crore capex underway) to scale capacity and product offerings in line with market potential.
🏗️ Capital Expenditure Plans
💰 Fundraising & Capital Structure
- →There is no mention of any current or planned fundraising through debt or equity in the provided content.
- →The company reported having healthy cash and cash equivalents of INR15.9 billion as of December 31, with no debt.
- →The company has generated INR6.7 billion cash operationally in the 9-month period.
- →Management discussed ongoing and potential capital expenditure (capex) investments of around INR1,000 crores but did not indicate any need for external fundraising at this time.
- →Future capex rounds will be considered based on internal assessments and readiness, indicating no immediate fundraising plans.
📋 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.
- →Large export orders received last year with a 5-year execution timeline are boosting order inflows.
- →No significant slowdown in domestic or international pipeline; states are increasing TBCB tenders.
Key Metrics
Frequently Asked Questions
What were GE Vernova T&D India Ltd 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 India Ltd share price analysis?
GE Vernova T&D India Ltd currently shows a neutral. The stock trades at a P/E of 83.6 with a market cap of ₹112,918 Cr. Investors should review the full earnings analysis for detailed insights.
Is GE Vernova T&D India Ltd planning capital expenditure?
GE Vernova T&D India Limited is currently investing in capex of around INR 1,000 crores.
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.