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GE Vernova T&D India Q1 FY27 Share Price & Earnings Call Analysis

₹4,091.00+0.76% today
Market cap
₹1.05L Cr
P/E
77.59
ROE
57.40%
PEG
0.16
Price to sales
15.61
Debt to equity
0.01
52W high / low
₹5,534 / ₹2,558
Sales growth (5Y)
12.45%
EBITDA margin
26.17%
Net profit margin
20.64%
Promoter holding
51.00%
Sales (last year)
₹6,712 Cr

GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. [1]

Guidance scorecard · Q1 FY27 call

What GE Vernova T&D India Ltd's management guided
and where it ranks in Electrical Equipment

#18of 58 in
Electrical Equipment
Revenue20–40%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • The company expects healthy growth with the current backlog providing multiyear visibility; backlog is roughly 3.5 times last fiscal year's revenue.
  • Financial years 2026-27 and 2027-28 will see steady growth in the core portfolio including exports.
  • Significant growth from HVDC projects is anticipated starting from fiscal year 2028-29 due to back-ended execution.
  • Domestic market growth is expected to be stable around 6-7% this year, with no major slowdown anticipated.
  • Export orders are increasing, supported by cross-group opportunities, contributing to future revenue.
  • Capacity expansions are ongoing within existing plants to support volume growth without significant land investment.

2 more points from GE Vernova T&D India Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what GE Vernova T&D India Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • GE Vernova T&D India Limited has already announced a capex of INR10 billion primarily for capacity expansion within existing plants, utilizing surplus land, thus minimizing land acquisition costs and improving shareholder returns.
  • Approximately INR2.5 billion has been allocated for dividends in Q2, subject to shareholder approval.
  • The company holds about INR29 billion of surplus cash, with around INR16 billion remaining unutilized after announced capex and dividend plans.
  • Management and Board are continuously evaluating options for optimal utilization of the remaining cash to maximize shareholder returns; no concrete additional capex decisions have been finalized yet.

2 more points from GE Vernova T&D India Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what GE Vernova T&D India Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The total order backlog stands at INR 20,900 crores as of the latest update.
  • Export orders constitute approximately 10%-15% of the total backlog.
  • Order intake for the latest quarter was INR 11.4 billion, with about INR 5.2 billion from exports (mostly from group entities).
  • Approximately INR 6.5 billion of orders came from domestic and third-party export customers.
  • Pending orders include INR 1,300 crores from the U.S. data center project, not yet booked, expected in Q2 or Q3 of the financial year.
  • A previously approved INR 3,000 crores related to another project is on hold; shareholder approval will be needed again once the project restarts.

2 more points from GE Vernova T&D India Ltd's call on the order book

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Full Q1 FY27 analysis
Full Electrical Equipment ranking

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

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does GE Vernova T&D India Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Electrical Equipment companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹72,673 Cr18.1
240%+Up 2%+₹21,700 Cr158.1
340%+Up 2%+₹491 Cr12.2
440%+Up 0–2%₹12,434 Cr48.4
540%+Up 0–2%₹2,042 Cr35.4
640%+Up 0–2%₹529 Cr7.0

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GE Vernova T&D India Ltd announcements

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Financials of GE Vernova T&D India Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of GE Vernova T&D India Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +7037186988399149581,1081,0741,1531,3301,5381,7011,637
Expenses +6756676377428037769038949009431,1421,2461,192
Operating Profit28516197111182205180252388396455445
OPM %4%7%9%12%12%19%18%17%22%29%26%27%27%
Other Income +-1129-4612426211619-5143
Interest131177323463237
Depreciation15131312121212121111121212
Profit before tax-0395073101180194190256390401390469
Tax %12,692%27%26%32%34%25%25%25%27%25%25%25%25%
Net Profit +-1528374966135145143186291299291352
EPS in Rs-0.601.101.451.932.595.255.655.577.2811.3711.7011.3613.74

Financials of GE Vernova T&D India Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +3,7113,3034,0524,3324,2193,1593,4523,0662,7733,1684,2926,206
Expenses +3,3793,1973,9964,0573,7653,3543,2823,1552,6522,8363,4614,523
Operating Profit33210757275454-195171-891213328311,684
OPM %9%3%1%6%11%-6%5%-3%4%10%19%27%
Other Income +111421412394956913622226227
Interest911071821068587845961412715
Depreciation828688908378665855504746
Profit before tax17056-73319335-35689-69272638201,650
Tax %29%38%18%35%36%-15%32%-29%106%31%26%25%
Net Profit +12134-87209213-30360-50-11816081,233
EPS in Rs4.711.35-3.388.158.31-11.822.36-1.94-0.067.0723.7648.17
Dividend Payout %38%134%-53%22%22%0%0%0%0%28%21%0%

Financials of GE Vernova T&D India Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital515151515151515151515151
Reserves1,2611,1279821,1381,3771,0001,0711,0291,0221,1921,7222,639
Borrowings +28050451810081599316226273423524
Other Liabilities +2,9003,0903,5633,4792,6882,5032,6302,4612,3332,3002,8535,025
Total Liabilities4,4924,7725,1144,7694,1964,1544,0693,7673,6793,5844,6617,739
Fixed Assets +687684656586513538494457421401379412
CWIP703325185122299114765
Investments000000000000
Other Assets +3,7354,0554,4334,1653,6793,6043,5543,3023,2503,1734,2347,262
Total Assets4,4924,7725,1144,7694,1964,1544,0693,7673,6793,5844,6617,739

Financials of GE Vernova T&D India Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +502-911881,054-355-2603118-375189041,710
Cash from Investing Activity +-137-50-47-306287-30121163-172-495-511
Cash from Financing Activity +-320120-131-585-114290-324-1029-259-69-147
Net Cash Flow45-2011163-182-0-122-26873391,052
Free Cash Flow424-1411421,043-362-292324-17-544898161,521
CFO/OP172%-39%373%433%-51%99%194%-35%-7%162%133%131%

Financials of GE Vernova T&D India Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days211228205152175219201186204166125128
Inventory Days29251154223413617714396119103100132
Days Payable766823805389247272275171197156146170
Cash Conversion Cycle-262-84-58-463125691111271147990
Working Capital Days5022-2-18487823132029356
ROCE %16%10%7%30%31%-14%11%-9%8%23%55%76%

Guidance history

How GE Vernova T&D India Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlanned——
Q4 FY26 call →20–40%FlatPlanned—Rising
Q4 FY26 call →20–40%FlatPlanned—Rising
Q3 FY26 call →20–40%FlatPlanned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

30out of 100

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.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+36.8%81%
Last 6 months−9.4%39%
Last 3 months−1.0%64%

The price is 26.8% below its all-time high of ₹5,545.25 (19 Jun 2026). Stocks more than 20% below their peak have their score halved, so 61 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 Vernova T&D India Ltd: 0.4 × 81 + 0.4 × 39 + 0.2 × 64 = 61, 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 28 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 Vernova T&D India Ltd's management said in earlier quarters

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