GE Power India Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹3,971 Cr
- P/E
- 10.73
- ROE
- 62.17%
- PEG
- 0.27
- Price to sales
- 3.08
- Debt to equity
- 0.03
- 52W high / low
- ₹1,055 / ₹275
- Sales growth (5Y)
- -17.61%
- EBITDA margin
- 23.56%
- Net profit margin
- 22.02%
- Promoter holding
- 68.58%
- Sales (last year)
- ₹1,291 Cr
GE Power India Ltd is engaged in business of engineering, procurement & construction (EPC) of key equipment for thermal and hydro power plants. It is one of the leading players in the Indian power generation equipment market.[1]
Guidance scorecard · Q1 FY27 call
What GE Power India Ltd's management guided
and where it ranks in Electrical Equipment
RevenueQ1 FY27 call
20–40%- Order bookings have grown significantly, from INR 299 crores in 2021-22 to INR 734 crores in 2025-26, reflecting a CAGR of approximately 25%.
- In FY 2025-26 alone, overall order booking growth in core services was around 34%, indicating strong momentum.
- The other OEM segment has also shown robust growth, with order values rising from INR 162 crores to INR 320 crores.
- The company's focus on high-margin, cash-accretive opportunities with faster cash conversion cycles supports sustained revenue growth.
2 more points from GE Power India Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY27 call
Up 2%+See what GE Power India Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
- The company highlights ongoing efforts to establish an independent supply chain post-demerger, targeting full supply chain independence soon.
- A five-year manufacturing services agreement with JSW Energy is in place to secure reserved capacity, indicating a strategic operational arrangement rather than new capital investment.
- The proposed demerger of the Durgapur business is a strategic portfolio simplification move aimed at sharper operating focus and growth.
- The focus appears on value-accretive, cash-generative service-led business growth and operational stability, rather than new capital spending.
FundraisingQ1 FY27 call
See what GE Power India Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Order bookings have grown from INR 299 crores in 2021-2022 to INR 734 crores in 2025-2026, representing a CAGR of approximately 25%.
- In FY 2025-2026 alone, there was around 34% overall order booking growth in the core services segment compared to the previous year.
- The oOEM segment also showed strong progress, with order growth increasing from INR 162 crores to around INR 320 crores.
- These figures indicate a strong and growing order book for GE Power India Limited, reflecting momentum in both core services and OEM segments.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
Sign up free to see every company in the sector ranking and track GE Power India Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingGE Power India Ltd announcements
All announcements →- Acquisition / mergerNotableGE Power India receives NCLT sanction order for demerger to JSW Energy
- Acquisition / mergerNotableGE Power India Limited's scheme of arrangement sanctioned by NCLT on 01 Oct 2026
Financials of GE Power India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of GE Power India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 344 | 424 | 241 | 294 | 247 | 246 | 217 | 317 | 266 | 287 | 281 | 386 | 316 |
| Expenses + | 464 | 556 | 267 | 292 | 262 | 265 | 207 | 313 | 287 | 287 | 253 | 261 | 210 |
| Operating Profit | -119 | -132 | -26 | 2 | -16 | -18 | 10 | 4 | -21 | 0 | 28 | 125 | 107 |
| OPM % | -35% | -31% | -11% | 1% | -6% | -7% | 5% | 1% | -8% | 0% | 10% | 32% | 34% |
| Other Income + | 17 | 17 | -16 | 11 | 64 | 22 | 70 | -15 | 223 | 44 | 16 | -42 | 16 |
| Interest | 18 | 16 | 16 | 9 | 18 | 10 | 9 | 4 | 2 | 6 | 6 | 6 | 4 |
| Depreciation | 6 | 5 | 4 | 4 | 4 | 4 | 3 | 4 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | -126 | -136 | -62 | 0 | 26 | -10 | 67 | -19 | 197 | 35 | 35 | 73 | 115 |
| Tax % | 3% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 17% | 0% | 8% | 2% | 2% |
| Net Profit + | -130 | -136 | -62 | 0 | 26 | -10 | 67 | -19 | 164 | 35 | 32 | 72 | 113 |
| EPS in Rs | -19.29 | -20.20 | -9.20 | 0.06 | 3.86 | -1.42 | 9.95 | -2.76 | 24.43 | 5.16 | 4.81 | 10.76 | 16.84 |
Financials of GE Power India Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,124 | 1,711 | 1,993 | 1,338 | 1,903 | 2,446 | 3,343 | 2,620 | 1,796 | 1,039 | 1,047 | 1,269 |
| Expenses + | 1,948 | 1,886 | 1,941 | 1,203 | 1,712 | 2,294 | 3,179 | 2,764 | 2,108 | 1,184 | 1,098 | 1,010 |
| Operating Profit | 177 | -176 | 53 | 135 | 191 | 152 | 164 | -144 | -313 | -145 | -50 | 260 |
| OPM % | 8% | -10% | 3% | 10% | 10% | 6% | 5% | -5% | -17% | -14% | -5% | 20% |
| Other Income + | 173 | 184 | 92 | -9 | 40 | 157 | 66 | -5 | 81 | 60 | 312 | 33 |
| Interest | 10 | 31 | 60 | 32 | 54 | 69 | 81 | 97 | 77 | 71 | 44 | 22 |
| Depreciation | 73 | 72 | 60 | 51 | 31 | 66 | 50 | 44 | 23 | 15 | 14 | 12 |
| Profit before tax | 266 | -94 | 26 | 42 | 146 | 173 | 99 | -291 | -331 | -171 | 203 | 259 |
| Tax % | 34% | -39% | 110% | 37% | 48% | 51% | 29% | -1% | 33% | 0% | 0% | 2% |
| Net Profit + | 177 | -58 | -2 | 27 | 75 | 85 | 70 | -289 | -441 | -171 | 203 | 253 |
| EPS in Rs | 26.31 | -8.63 | -0.37 | 3.96 | 11.22 | 12.58 | 10.48 | -42.96 | -65.54 | -25.49 | 30.20 | 37.58 |
| Dividend Payout % | 38% | 0% | -820% | 76% | 54% | 16% | 10% | 0% | 0% | 0% | 0% | 19% |
Financials of GE Power India Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 911 | 758 | 760 | 761 | 815 | 849 | 904 | 609 | 165 | 2 | 249 | 515 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 137 | 453 | 388 | 359 | 163 | 29 | 18 |
| Other Liabilities + | 2,090 | 2,762 | 3,039 | 3,085 | 2,677 | 2,316 | 2,569 | 2,394 | 2,272 | 2,349 | 1,667 | 1,538 |
| Total Liabilities | 3,069 | 3,588 | 3,867 | 3,913 | 3,559 | 3,370 | 3,993 | 3,458 | 2,864 | 2,581 | 2,012 | 2,138 |
| Fixed Assets + | 396 | 374 | 350 | 271 | 151 | 307 | 283 | 133 | 110 | 98 | 63 | 40 |
| CWIP | 50 | 39 | 28 | 9 | 12 | 5 | 2 | 2 | 1 | 4 | 4 | 3 |
| Investments | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 10 | 13 | 19 | 30 | 46 |
| Other Assets + | 2,622 | 3,172 | 3,486 | 3,630 | 3,394 | 3,056 | 3,705 | 3,312 | 2,740 | 2,461 | 1,915 | 2,049 |
| Total Assets | 3,069 | 3,588 | 3,867 | 3,913 | 3,559 | 3,370 | 3,993 | 3,458 | 2,864 | 2,581 | 2,012 | 2,138 |
Financials of GE Power India Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 189 | 62 | 430 | 48 | -241 | -563 | -478 | 49 | 90 | 182 | 320 | 469 |
| Cash from Investing Activity + | 367 | -182 | -91 | -700 | 223 | 917 | 63 | -5 | 6 | -3 | 54 | -436 |
| Cash from Financing Activity + | -111 | -84 | -2 | -28 | -39 | -86 | 254 | -79 | -48 | -226 | -66 | -47 |
| Net Cash Flow | 445 | -205 | 337 | -680 | -57 | 267 | -160 | -35 | 48 | -47 | 308 | -14 |
| Free Cash Flow | 192 | 35 | 406 | 36 | -229 | -465 | -473 | 44 | 87 | 180 | 314 | 467 |
| CFO/OP | 163% | -44% | 816% | 42% | -81% | -314% | -268% | -45% | -24% | -110% | -585% | 196% |
Financials of GE Power India Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 166 | 231 | 155 | 259 | 188 | 198 | 242 | 334 | 397 | 597 | 409 | 219 |
| Inventory Days | 249 | 192 | 228 | 649 | 70 | 67 | 37 | 20 | 36 | 97 | 95 | 71 |
| Days Payable | 156 | 428 | 919 | 1,814 | 284 | 255 | 201 | 263 | 321 | 802 | 564 | 264 |
| Cash Conversion Cycle | 259 | -5 | -536 | -907 | -26 | 10 | 78 | 91 | 112 | -108 | -60 | 27 |
| Working Capital Days | -38 | -53 | -120 | -187 | -64 | 26 | 44 | 30 | -25 | -78 | -83 | -0 |
| ROCE % | 24% | -7% | 17% | 26% | 34% | 22% | 17% | -4% | -29% | -16% | 6% | 80% |
Guidance history
How GE Power India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Up 2%+ | — | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | None planned | — | Flat |
| Q3 FY26 call → | 0–10% | Flat | None planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | None planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
30 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +89.3% | 93% |
| Last 6 months | −2.2% | 50% |
| Last 3 months | −20.1% | 16% |
The price is 45.1% below its all-time high of ₹1,076.45 (7 Dec 2007). Stocks more than 20% below their peak have their score halved, so 60 became 30.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For GE Power India Ltd: 0.4 × 93 + 0.4 × 50 + 0.2 × 16 = 60, halved to 30 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What GE Power India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q1 FY25 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
Others in Electrical Equipment this season
- Ram Ratna Wires (Q2 FY27)
Quarter Revenue (Consolidated):** ₹1,96,195.19 lakhs for Q2 FY2027 (30-09-2026) . Key results statement takeaways from Ram Ratna Wires Ltd's Q2 FY27 results sta
- Suzlon Energy Ltd (Q2 FY27)
Q2 FY27 consolidated net deliveries: 710 MW, up from 565 MW in Q2 FY26 (25.7% YoY increase). Key results statement takeaways from Suzlon Energy Ltd's Q2 FY27 ea
- Yash Highvoltage Ltd (Q2 FY27)
Bushings volume saw a 40% growth in H1 FY27 compared to H1 FY26, indicating strong volume momentum. Key concall takeaways from Yash Highvoltage Ltd's Q2 FY27…
- Volt.Transform. (Q2 FY27)
Revenue from operations for the quarter ended 30th September 2026: ₹68,419.19 lakh . Key results statement takeaways from Voltamp Transformers Ltd's Q2 FY27 ear