GE Power India Ltd

GE Power Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

GE Power India Ltd

₹ 698 5.00%
21 May - close price
ge.com BSE: 532309 NSE: GVPIL
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

Service Offerings
The company is one of the leading players in the Indian Power generation equipment market with a presence across: [1]
1) Core Services: The company manufactures electrical and industrial equipment, like boilers, turbines, generators, and air quality systems, serving major clients like BHEL, NTPC, Siemens, and various state and central utilities.
2) Service Upgrades: It offers servicing and upgrades of boilers, turbines, and air quality systems to NTPC and various state & central utilities.
3) FGD: It supplies flue-gas desulphurization equipment to various state & central utilities and IPPs.
4) Durgapur Parts: The company supplies boiler pressure parts, piping mills & auxiliaries, to various countries across APAC, MENAT, and SSA. It also supplies non-coal pressure vessels and cryogenic vessels in India to L&T, various EPCs, Linde, etc. [2]

Website BSE NSE
  • Market Cap ₹ 4,694 Cr.
  • Current Price ₹ 698
  • High / Low ₹ 755 / 242
  • Stock P/E 13.4
  • Book Value ₹ 86.6
  • Dividend Yield 0.00 %
  • ROCE 80.0 %
  • ROE 77.7 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 29.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 52.4%

Cons

  • Stock is trading at 8.05 times its book value
  • The company has delivered a poor sales growth of -17.6% over past five years.
  • Tax rate seems low
  • Company has high debtors of 219 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.

Peer comparison

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

Part of BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
344 424 241 294 247 246 217 317 266 287 281 386 316
464 556 267 292 262 265 207 313 287 287 253 261 210
Operating Profit -119 -132 -26 2 -16 -18 10 4 -21 0 28 125 107
OPM % -35% -31% -11% 1% -6% -7% 5% 1% -8% 0% 10% 32% 34%
17 17 -16 11 64 22 70 -15 223 44 16 -42 16
Interest 18 16 16 9 18 10 9 4 2 6 6 6 4
Depreciation 6 5 4 4 4 4 3 4 3 3 3 3 3
Profit before tax -126 -136 -62 0 26 -10 67 -19 197 35 35 73 115
Tax % 3% 0% 0% 0% 0% 0% 0% 0% 17% 0% 8% 2% 2%
-130 -136 -62 0 26 -10 67 -19 164 35 32 72 113
EPS in Rs -19.29 -20.20 -9.20 0.06 3.86 -1.42 9.95 -2.76 24.43 5.16 4.81 10.76 16.84
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,124 1,711 1,993 1,338 1,903 2,446 3,343 2,620 1,796 1,039 1,047 1,269
1,948 1,886 1,941 1,203 1,712 2,294 3,179 2,764 2,108 1,184 1,098 1,010
Operating Profit 177 -176 53 135 191 152 164 -144 -313 -145 -50 260
OPM % 8% -10% 3% 10% 10% 6% 5% -5% -17% -14% -5% 20%
173 184 92 -9 40 157 66 -5 81 60 312 33
Interest 10 31 60 32 54 69 81 97 77 71 44 22
Depreciation 73 72 60 51 31 66 50 44 23 15 14 12
Profit before tax 266 -94 26 42 146 173 99 -291 -331 -171 203 259
Tax % 34% -39% 110% 37% 48% 51% 29% -1% 33% 0% 0% 2%
177 -58 -2 27 75 85 70 -289 -441 -171 203 253
EPS in Rs 26.31 -8.63 -0.37 3.96 11.22 12.58 10.48 -42.96 -65.54 -25.49 30.20 37.58
Dividend Payout % 38% 0% -820% 76% 54% 16% 10% 0% 0% 0% 0% 19%
Compounded Sales Growth
10 Years: -3%
5 Years: -18%
3 Years: -11%
TTM: 21%
Compounded Profit Growth
10 Years: 23%
5 Years: 30%
3 Years: 41%
TTM: 72%
Stock Price CAGR
10 Years: 1%
5 Years: 21%
3 Years: 71%
1 Year: 184%
Return on Equity
10 Years: 2%
5 Years: -8%
3 Years: 52%
Last Year: 78%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 67 67 67 67 67 67 67 67 67 67 67 67
Reserves 911 758 760 761 815 849 904 609 165 2 249 515
0 0 0 0 0 137 453 388 359 163 29 18
2,090 2,762 3,039 3,085 2,677 2,316 2,569 2,394 2,272 2,349 1,667 1,538
Total Liabilities 3,069 3,588 3,867 3,913 3,559 3,370 3,993 3,458 2,864 2,581 2,012 2,138
396 374 350 271 151 307 283 133 110 98 63 40
CWIP 50 39 28 9 12 5 2 2 1 4 4 3
Investments 0 3 3 3 3 3 3 10 13 19 30 46
2,622 3,172 3,486 3,630 3,394 3,056 3,705 3,312 2,740 2,461 1,915 2,049
Total Assets 3,069 3,588 3,867 3,913 3,559 3,370 3,993 3,458 2,864 2,581 2,012 2,138

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
189 62 430 48 -241 -563 -478 49 90 182 320
367 -182 -91 -700 223 917 63 -5 6 -3 54
-111 -84 -2 -28 -39 -86 254 -79 -48 -226 -66
Net Cash Flow 445 -205 337 -680 -57 267 -160 -35 48 -47 308
Free Cash Flow 192 35 406 36 -229 -465 -473 44 87 180 314
CFO/OP 163% -44% 816% 42% -81% -314% -268% -45% -24% -110% -585%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 166 231 155 259 188 198 242 334 397 597 409 219
Inventory Days 249 192 228 649 70 67 37 20 36 97 95 71
Days Payable 156 428 919 1,814 284 255 201 263 321 802 564 264
Cash Conversion Cycle 259 -5 -536 -907 -26 10 78 91 112 -108 -60 27
Working Capital Days -38 -53 -120 -187 -64 26 44 30 -25 -78 -83 -0
ROCE % 24% -7% 17% 26% 34% 22% 17% -4% -29% -16% 6% 80%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
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Order Intake
INR Million
Durgapur Plant Utilization
Ratio ・Standalone data

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58% 68.58%
0.07% 0.23% 0.11% 0.25% 0.39% 0.43% 0.85% 0.41% 0.56% 0.11% 0.15% 1.26%
8.44% 5.27% 3.87% 3.50% 2.99% 2.80% 2.80% 2.30% 0.46% 0.40% 0.43% 1.13%
0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39% 0.39%
22.52% 25.53% 27.04% 27.27% 27.65% 27.79% 27.39% 28.32% 30.01% 30.51% 30.45% 28.65%
No. of Shareholders 56,72659,30461,26261,20163,52470,29971,74771,86873,48070,32167,50067,300

* 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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