Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of GE Vernova T&D
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 + | 703 | 718 | 698 | 839 | 914 | 958 | 1,108 | 1,074 | 1,153 | 1,330 | 1,538 | 1,701 | 1,637 |
| Expenses + | 675 | 667 | 637 | 742 | 803 | 776 | 903 | 894 | 900 | 943 | 1,142 | 1,246 | 1,192 |
| Operating Profit | 28 | 51 | 61 | 97 | 111 | 182 | 205 | 180 | 252 | 388 | 396 | 455 | 445 |
| OPM % | 4% | 7% | 9% | 12% | 12% | 19% | 18% | 17% | 22% | 29% | 26% | 27% | 27% |
| Other Income + | -1 | 12 | 9 | -4 | 6 | 12 | 4 | 26 | 21 | 16 | 19 | -51 | 43 |
| Interest | 13 | 11 | 7 | 7 | 3 | 2 | 3 | 4 | 6 | 3 | 2 | 3 | 7 |
| Depreciation | 15 | 13 | 13 | 12 | 12 | 12 | 12 | 12 | 11 | 11 | 12 | 12 | 12 |
| Profit before tax | -0 | 39 | 50 | 73 | 101 | 180 | 194 | 190 | 256 | 390 | 401 | 390 | 469 |
| Tax % | 12,692% | 27% | 26% | 32% | 34% | 25% | 25% | 25% | 27% | 25% | 25% | 25% | 25% |
| Net Profit + | -15 | 28 | 37 | 49 | 66 | 135 | 145 | 143 | 186 | 291 | 299 | 291 | 352 |
| EPS in Rs | -0.60 | 1.10 | 1.45 | 1.93 | 2.59 | 5.25 | 5.65 | 5.57 | 7.28 | 11.37 | 11.70 | 11.36 | 13.74 |
Financials of GE Vernova T&D
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 + | 3,711 | 3,303 | 4,052 | 4,332 | 4,219 | 3,159 | 3,452 | 3,066 | 2,773 | 3,168 | 4,292 | 6,206 |
| Expenses + | 3,379 | 3,197 | 3,996 | 4,057 | 3,765 | 3,354 | 3,282 | 3,155 | 2,652 | 2,836 | 3,461 | 4,523 |
| Operating Profit | 332 | 107 | 57 | 275 | 454 | -195 | 171 | -89 | 121 | 332 | 831 | 1,684 |
| OPM % | 9% | 3% | 1% | 6% | 11% | -6% | 5% | -3% | 4% | 10% | 19% | 27% |
| Other Income + | 11 | 142 | 141 | 239 | 49 | 5 | 69 | 136 | 22 | 22 | 62 | 27 |
| Interest | 91 | 107 | 182 | 106 | 85 | 87 | 84 | 59 | 61 | 41 | 27 | 15 |
| Depreciation | 82 | 86 | 88 | 90 | 83 | 78 | 66 | 58 | 55 | 50 | 47 | 46 |
| Profit before tax | 170 | 56 | -73 | 319 | 335 | -356 | 89 | -69 | 27 | 263 | 820 | 1,650 |
| Tax % | 29% | 38% | 18% | 35% | 36% | -15% | 32% | -29% | 106% | 31% | 26% | 25% |
| Net Profit + | 121 | 34 | -87 | 209 | 213 | -303 | 60 | -50 | -1 | 181 | 608 | 1,233 |
| EPS in Rs | 4.71 | 1.35 | -3.38 | 8.15 | 8.31 | -11.82 | 2.36 | -1.94 | -0.06 | 7.07 | 23.76 | 48.17 |
| Dividend Payout % | 38% | 134% | -53% | 22% | 22% | 0% | 0% | 0% | 0% | 28% | 21% | 0% |
Financials of GE Vernova T&D
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 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 |
| Reserves | 1,261 | 1,127 | 982 | 1,138 | 1,377 | 1,000 | 1,071 | 1,029 | 1,022 | 1,192 | 1,722 | 2,639 |
| Borrowings + | 280 | 504 | 518 | 100 | 81 | 599 | 316 | 226 | 273 | 42 | 35 | 24 |
| Other Liabilities + | 2,900 | 3,090 | 3,563 | 3,479 | 2,688 | 2,503 | 2,630 | 2,461 | 2,333 | 2,300 | 2,853 | 5,025 |
| Total Liabilities | 4,492 | 4,772 | 5,114 | 4,769 | 4,196 | 4,154 | 4,069 | 3,767 | 3,679 | 3,584 | 4,661 | 7,739 |
| Fixed Assets + | 687 | 684 | 656 | 586 | 513 | 538 | 494 | 457 | 421 | 401 | 379 | 412 |
| CWIP | 70 | 33 | 25 | 18 | 5 | 12 | 22 | 9 | 9 | 11 | 47 | 65 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 3,735 | 4,055 | 4,433 | 4,165 | 3,679 | 3,604 | 3,554 | 3,302 | 3,250 | 3,173 | 4,234 | 7,262 |
| Total Assets | 4,492 | 4,772 | 5,114 | 4,769 | 4,196 | 4,154 | 4,069 | 3,767 | 3,679 | 3,584 | 4,661 | 7,739 |
Financials of GE Vernova T&D
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 + | 502 | -91 | 188 | 1,054 | -355 | -260 | 311 | 8 | -37 | 518 | 904 | 1,710 |
| Cash from Investing Activity + | -137 | -50 | -47 | -306 | 287 | -30 | 12 | 116 | 3 | -172 | -495 | -511 |
| Cash from Financing Activity + | -320 | 120 | -131 | -585 | -114 | 290 | -324 | -102 | 9 | -259 | -69 | -147 |
| Net Cash Flow | 45 | -20 | 11 | 163 | -182 | -0 | -1 | 22 | -26 | 87 | 339 | 1,052 |
| Free Cash Flow | 424 | -141 | 142 | 1,043 | -362 | -292 | 324 | -17 | -54 | 489 | 816 | 1,521 |
| CFO/OP | 172% | -39% | 373% | 433% | -51% | 99% | 194% | -35% | -7% | 162% | 133% | 131% |
Financials of GE Vernova T&D
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 | 211 | 228 | 205 | 152 | 175 | 219 | 201 | 186 | 204 | 166 | 125 | 128 |
| Inventory Days | 292 | 511 | 542 | 234 | 136 | 177 | 143 | 96 | 119 | 103 | 100 | 132 |
| Days Payable | 766 | 823 | 805 | 389 | 247 | 272 | 275 | 171 | 197 | 156 | 146 | 170 |
| Cash Conversion Cycle | -262 | -84 | -58 | -4 | 63 | 125 | 69 | 111 | 127 | 114 | 79 | 90 |
| Working Capital Days | 50 | 22 | -2 | -18 | 48 | 78 | 23 | 13 | 20 | 29 | 35 | 6 |
| ROCE % | 16% | 10% | 7% | 30% | 31% | -14% | 11% | -9% | 8% | 23% | 55% | 76% |
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