GE Vernova T&D India Ltd. share price target

GE Vernova T&D (GVTD) registered a robust performance in Q4FY26 which was in line with expectations. Revenue, EBITDA and PAT registered solid growth of 42%,76% and 89% respectively on YoY terms. Order intake for FY26 grew by 37% YoY to Rs ~148bn propelled by key HVDC order wins namely Khavda-South Olpad and the Chandrapur HVDC refurbishment. Demand outlook for electrification and transmission expansion is robust with around 33 packages of TBCB related orders waiting to be ordered out. Management is seeing extremely strong demand for Data centre projects in the US. This demand could be catered...

The company announced a ~Rs10bn through FY28 capex program focused on HVDC-related capabilities, including thyristor valves, controls and air-core reactors to improve localization in future projects We revise our FY27/28E EPS estimates upward by +3.7%/+4.8%, factoring in strong execution momentum and margin gains led by more favorable mix of export and highvalue services. GE Vernova T&D (GET&D) delivered a strong operational performance with revenue increased by 42%YoY and EBITDA margins expanded by 400bps aided by higher export contribution, improved services mix and gradual roll-off of low-priced...

GE Vernova T&D (GVTD) is a solid play on the strong and growing theme of power transmission in India and across the world. We like the company on the back of (1) Superior execution capabilities in HVDC projects (2) Strong demand drivers and tailwinds for base business and (3) Robust HVDC Pipeline 4) Solid positioning in exports. GVTD is benefitting from strong demand from end user industries such as utilities, data centres, renewables and railways. GVTD has secured the 2.5 GW Khavda-South Olpad HVDC project along with the Chandrapur HVDC refurbishment project in FY26. HVDC is poised to be a solid...

Q1FY26 order intake came in at Rs16.2bn vs Rs19.1bn in Q1FY25 with 14% from exports and 86% from domestic markets. revenue mix. GE Vernova T&D India (GVTD) delivered a strong quarterly performance, reporting 38.8% YoY revenue growth alongside a significant...

GE Vernova (GE) reported a strong Q1FY26 performance, with revenue up 38% YoY to INR 13.1bn and EBITDA more than doubling to INR 3.8bn. The standout was the sharp 1,000bps expansion in EBITDA margin driven by higher contribution from exports.

GE Vernova T&D India (GVTD) delivered a strong quarterly performance, registering a 26.2% YoY revenue growth alongside a notable adj. EBITDA margin expansion of 1,103bps YoY to 23.2%. Continued investments in grid modernization and the energy transition have driven the strong domestic performance of GVTD, further supported by robust opportunities and pipeline of HVDC projects in India. Meanwhile, sustained order momentum from group companies and increased traction in international markets such as Europe, the...

GE Vernova T&D (GE) has again delivered a strong performance (in Q3FY25) post Q2, with revenue up 28% YoY to INR 10.7bn and EBITDA soaring 86% YoY to INR 1.7bn, driven by a sharp margin expansion to 16.7% (+520bps YoY). That powered PAT to INR 1.4bn—almost triple to last year’s figure led by better product mix and improved utilisation.

GE T&D India’s (GETD) operating profit margin came in at 8.7% – up 161bps sequentially and 791bps YoY forming a new high in operating margin in the past 18 quarters. Revenue was flat YoY and declined 3% sequentially to INR 7bn. Order inflow for the quarter stood at INR 11bn, up 121% YoY.

GE T&D India’s (GETD) operating profit margin came in at 7.1% – up 310bps sequentially and 330bps YoY. It is the company’s highest operating margin in past 16 quarters. Revenues grew 21% YoY and operating profit 127% YoY. Order inflow for the quarter stood at INR 11bn, up 67% YoY.

GE T&D India (GETD) reported a weak set of numbers for Q4FY23 with subdued revenue and net loss due to lower opening order backlog and reduced profitability as a result of increased cost of certain electronics and execution of low-margin orders.

GE T&D India’s (GETD) revenues declined 15% YoY to Rs7.8bn in Q3FY23 as lower orderbook led to muted execution. However, EBITDA jumped 57% YoY to Rs458mn as EBITDA margin expanded 270bps YoY, mainly led by 1,200bps YoY gross margin expansion.

GE T&D India’s (GETD) revenue declined 18% YoY to Rs7bn in Q2FY23 as weaker orderbook led to muted execution.

GE T&D India’s (GETD) revenue declined 7% YoY to Rs 5.9bn in Q1FY23 as the lower orderbook led to a muted execution.

Higher freight cost, forex loss (Rs60-70mn) and higher reimbursement expenses impacted EBITDA margin (0.2% in Q1FY22). GE T&D; (GETD) reported poor quarterly performance led by lower execution and higher expenses. Revenue was flat YoY at Rs6.4bn, due to closure of most of the factory for nine days due to pandemic. Despite increase in commodity price, gross margins expanded (32.3% in Q1FY22) due to better product mix with higher contribution of product business, though it is...

Delay in order finalization leads to 45% decline in OI, but healthy ordering visibility seen in both domestic and international markets. GE T&D; (GETD) reported strong quarterly performance led by stellar execution, cost rationalization measures and higher other income. Sales grew by 10% YoY as manufacturing and project sites were operating at full capacity. Order inflow decline 45% to Rs6.9bn owing to delay in order finalization. Order book stood decent at Rs49bn (excluding L1 Rs3bn)...

Net Borrowings stands at Rs3.3bn as on 3QFY20 compared to Rs4.3bn in 2QFY20 due to better collections and turnaround of inventory. GE T&D; reported weak set of numbers for 3QFY20 on the back of lower opening order backlog (HVDC nearing completion), weak fresh order inflows,...