Conference Call with GE T&D; India Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Industrial Machinery company GE T&D; India announced Q1FY25 results: Revenue was Rs 9.6 billion, against Rs 7.2 billion in Quarter Ended June 2023, up 34.0% EBITDA was at Rs 1,940 million (20.2%), against Rs 628 million (8.7%) in Quarter Ended June 2023 Profit After Tax was at Rs 1,345 million (14.0%), against Rs 282 million (3.9%) in Quarter Ended June 2023 Order bookings were Rs 10.3 billion, against Rs 10.1 billion in Quarter Ended June 2023, up 2% Sandeep Zanzaria, Managing Director & CEO of GE T&D; India, said, “Our exceptional quarterly results are a direct outcome of our unwavering focus on delivering quality and value to our customers and stakeholders. As India's power grid scales new heights with its power transmission system emerging as one of the largest unified electricity grids in the world, we are excited to be a key partner in this journey of India’s energy transition.” Result PDF
Conference Call with GE T&D; India Ltd. Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Industrial Machinery company GE T&D; India announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue was Rs 9.1 billion, against Rs 7.0 billion in Q4FY23, up by 30.0% EBITDA was at Rs 1,167 million (12.8%), against Rs 316 million (4.5%) in Q4FY23 Profit After Tax was at Rs 663 million (7.3%), against loss of Rs 154 million (-2.2%) in Q4FY23 Order bookings were Rs 13.3 billion compared to Rs 8.7 billion in Q4FY23, up by 53% FY24 Financial Highlights: Revenue was Rs 31.7 billion, against Rs 27.7 billion in FY23, up 14% YoY EBITDA was at Rs 3,415 million (10.8%), against Rs 1,355 million (4.9%) in FY23 Profit After Tax was at Rs 1,811 million (5.7%), against Rs (15) million (-0.1%) in FY23 Order bookings were Rs 57.9 billion compared to Rs 27.4 billion in FY23, up 112% YoY The board of directors of the company have recommended a dividend of Rs 2/- per equity share for the financial year 2023-24 subject to shareholder’s approval. Sandeep Zanzaria, Managing Director & CEO of GE T&D; India Limited, said, “In FY24, GE T&D; India Ltd. achieved a strong turnaround, delivering excellent results on all fronts. We saw a surge in order booking and our backlog improved along with steady growth in revenues and substantial growth in profits & cash. The company consolidated its position on free cashflow, and the Board has recommended a dividend of Rs 2/- to our shareholders after a gap of 5 years. India is poised to witness a very fast growth in electricity demand among major economies over the next decade. With ongoing investments in grid modernization, capacity expansion, and the integration of technologies, the outlook for the country’s transmission segment is promising.” Result PDF
Industrial Machinery company GE T&D; India announced Q3FY24 results: Financial Performance: - The revenue for Q3FY24 was Rs 8.4 billion, showing an increase of 8.0% compared to Rs 7.8 billion in Q3FY23. - EBITDA for Q3FY24 reached Rs 923 million, marking an increase from Rs 391 million in Q3FY23, and representing an EBITDA margin of 11.0% compared to the 5.0% of the previous year. - Profit After Tax (PAT) significantly increased to Rs 494 million (5.9% of revenue), up from Rs 47 million (0.6% of revenue) reported in the third quarter of the previous year. Order Bookings and Wins: - Order bookings for the quarter were Rs 23.7 billion, a substantial 204% increase over the Rs 7.8 billion recorded in the third quarter of the previous year. - Notable orders secured during the quarter included: - HVDC Transformers supply order from UK Grid Solutions Ltd. (a GE Group Company). - 765 kV Power Transformers and Shunt Reactors order from Power Grid Corporation of India Ltd for various projects. - 420kV GIS supply for NTPC Talcher Thermal Power Project's STAGE III from Bharat Heavy Electricals Ltd (BHEL). - Construction of 765 KV GIS Substation at Khavda PS1 (KPS1-Augmentation) for Adani Energy Solutions, excluding civil work. - 400kV GIS Substation supply and construction at Babarzar for Gujarat Energy Transmission Company Ltd (GETCO). - Orders for a data center project in Maharashtra and 765 KV Substations in renewable energy zones of Rajasthan. - Turnkey construction of a 220 kV Sectionalizer at Hindalco, Lapanga for Aditya Birla. - Supply of bus bar relays and Substation Automation for solar pooling and Adani Green Energy Ltd's ventures. - Various infrastructure projects for Power Grid Corporation of India Ltd through orders from EPC companies. Operational Achievements: - Successful commissioning of 46 transformers and reactors with a total MVA exceeding 6700. - Commissioned various AIS and GIS substations and associated infrastructure across different locations, including Infrastructure at Power Grid, Kopili, and Renew Koppal projects, and a transformer at BPC Chumdo in Bhutan. Sandeep Zanzaria, Managing Director & CEO of GE T&D; India, commented on the results: "As the pace of global energy transition accelerates with India spearheading the shift, our Q3 order book reflected a surge in demand - both in terms of domestic and exports. This, combined with our unwavering focus on optimization and strong order execution paved the way for improvement in profitability and the company becoming debt-free. We remain steadfast in our focus on serving the nation's needs and significantly contributing towards 'Make in India' initiative." Result PDF