GE Power India Ltd

GE Power India Ltd

₹ 300 -2.95%
21 Feb 4:12 p.m.
About

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]

Key Points

Business Segments
The company manufactures and provides boilers, mills, air quality control systems, automation & control, and services for steam powered thermal plants. It is also involved in the EPC of key equipment for hydro and gas powered plants. [1]

  • Market Cap 2,014 Cr.
  • Current Price 300
  • High / Low 319 / 97.4
  • Stock P/E
  • Book Value 4.99
  • Dividend Yield 0.00 %
  • ROCE -29.4 %
  • ROE -95.4 %
  • Face Value 10.0

Pros

  • Company's working capital requirements have reduced from 63.6 days to 37.4 days

Cons

  • Stock is trading at 60.0 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 6.06% over past five years.
  • Company has a low return on equity of -21.6% over last 3 years.
  • Company has high debtors of 397 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,093.00 930.50 540.42 732.12 757.11 590.79 490.90 427.77 532.66 344.48 423.57 354.21 456.22
1,027.97 873.91 673.17 704.53 749.75 653.62 562.97 552.60 545.11 463.67 555.66 403.05 470.79
Operating Profit 65.03 56.59 -132.75 27.59 7.36 -62.83 -72.07 -124.83 -12.45 -119.19 -132.09 -48.84 -14.57
OPM % 5.95% 6.08% -24.56% 3.77% 0.97% -10.63% -14.68% -29.18% -2.34% -34.60% -31.18% -13.79% -3.19%
22.72 -1.24 10.78 53.50 -22.83 -45.30 29.20 32.36 1.81 17.16 17.24 10.17 37.25
Interest 29.46 18.22 19.21 17.72 18.44 27.06 13.58 15.10 13.85 18.20 15.98 18.15 17.28
Depreciation 11.44 12.56 11.60 11.55 11.87 8.70 6.78 5.00 5.03 5.72 4.96 5.03 5.03
Profit before tax 46.85 24.57 -152.78 51.82 -45.78 -143.89 -63.23 -112.57 -29.52 -125.95 -135.79 -61.85 0.37
Tax % 25.10% 34.80% 24.73% 24.10% 25.47% -24.47% 6.66% 0.00% -371.85% -2.98% 0.00% 0.00% 0.00%
35.09 16.02 -114.99 39.33 -34.12 -179.10 -59.02 -112.57 -139.29 -129.70 -135.79 -61.85 0.37
EPS in Rs 5.22 2.38 -17.10 5.85 -5.08 -26.64 -8.78 -16.74 -20.72 -19.29 -20.20 -9.20 0.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,420 2,786 2,605 2,124 1,711 1,993 1,338 1,903 2,446 3,343 2,620 1,796 1,578
2,190 2,541 2,408 1,948 1,886 1,941 1,203 1,712 2,294 3,179 2,764 2,108 1,893
Operating Profit 230 245 198 177 -176 53 135 191 152 164 -144 -313 -315
OPM % 10% 9% 8% 8% -10% 3% 10% 10% 6% 5% -5% -17% -20%
72 95 207 173 184 92 -9 40 157 66 -5 81 82
Interest 1 2 24 10 31 60 32 54 69 81 97 77 70
Depreciation 51 55 61 73 72 60 51 31 66 50 44 23 21
Profit before tax 250 282 320 266 -94 26 42 146 173 99 -291 -331 -323
Tax % 33% 35% 28% 34% 39% 110% 37% 48% 51% 29% 1% -33%
168 184 231 177 -58 -2 27 75 85 70 -289 -441 -327
EPS in Rs 25.06 27.31 34.31 26.31 -8.63 -0.37 3.96 11.22 12.58 10.48 -42.96 -65.54 -48.63
Dividend Payout % 40% 37% 41% 38% 0% -820% 76% 54% 16% 10% 0% 0%
Compounded Sales Growth
10 Years: -4%
5 Years: 6%
3 Years: -10%
TTM: -23%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 29%
Stock Price CAGR
10 Years: -1%
5 Years: -17%
3 Years: 2%
1 Year: 153%
Return on Equity
10 Years: -1%
5 Years: -7%
3 Years: -22%
Last Year: -95%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 67 67 67 67 67 67 67 67 67 67 67 67 67
Reserves 627 735 863 911 758 760 761 815 849 904 609 165 -34
0 0 0 0 0 0 0 0 137 453 388 362 447
2,053 1,920 2,186 2,090 2,762 3,039 3,085 2,677 2,316 2,569 2,394 2,269 2,295
Total Liabilities 2,747 2,722 3,117 3,069 3,588 3,867 3,913 3,559 3,370 3,993 3,458 2,864 2,776
373 445 444 396 374 350 271 151 307 283 133 110 105
CWIP 95 37 24 50 39 28 9 12 5 2 2 1 1
Investments 0 0 0 0 3 3 3 3 3 3 10 13 14
2,279 2,240 2,649 2,622 3,172 3,486 3,630 3,394 3,056 3,705 3,312 2,740 2,657
Total Assets 2,747 2,722 3,117 3,069 3,588 3,867 3,913 3,559 3,370 3,993 3,458 2,864 2,776

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-128 32 223 189 62 430 48 -241 -563 -478 49 90
-304 -66 25 367 -182 -91 -700 223 917 63 -5 6
-78 -80 -83 -111 -84 -2 -28 -39 -86 254 -79 -48
Net Cash Flow -510 -115 165 445 -205 337 -680 -57 267 -160 -35 48

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 155 144 157 166 231 155 259 188 198 242 334 397
Inventory Days 192 67 192 249 192 228 649 70 67 37 20 36
Days Payable 166 75 151 156 428 919 1,814 284 255 201 263 321
Cash Conversion Cycle 182 135 197 259 -5 -536 -907 -26 10 78 91 112
Working Capital Days -7 23 23 -38 -53 -120 -187 -64 30 80 73 37
ROCE % 39% 38% 26% 24% -7% 17% 26% 34% 22% 17% -4% -29%

Shareholding Pattern

Numbers in percentages

14 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58%
1.41% 1.31% 1.11% 1.18% 0.50% 0.31% 0.14% 0.13% 0.15% 0.07% 0.23% 0.11%
15.28% 14.30% 12.98% 11.62% 10.35% 10.36% 8.87% 8.77% 8.73% 8.44% 5.27% 3.87%
0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39%
14.35% 15.43% 16.95% 18.24% 20.18% 20.36% 22.01% 22.11% 22.14% 22.52% 25.53% 27.04%
No. of Shareholders 49,04555,54052,39553,23759,09058,38858,78458,07556,51656,72659,30461,262

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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