GE Vernova T&D India Ltd

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GE Vernova T&D Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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GE Vernova T&D India Ltd

₹ 4,120 -1.55%
25 Aug 2:14 p.m.
gevernova.com/regions/asia/in/gevernova-td-india BSE: 522275 NSE: GVT&D F&O
About

GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. [1]

Key Points

Parentage[1]
The company is part of the GE Vernova group, a global energy company comprising the Power, Wind, and Electrification segments. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with over 85,000 employees across 100+ countries.

Website BSE NSE F&O
  • Market Cap ₹ 1,05,493 Cr.
  • Current Price ₹ 4,120
  • High / Low ₹ 5,650 / 2,523
  • Stock P/E 78.2
  • Book Value ₹ 105
  • Dividend Yield 0.24 %
  • ROCE 77.4 %
  • ROE 57.4 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 85.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 42.3%
  • Company has been maintaining a healthy dividend payout of 23.4%

Cons

  • Stock is trading at 39.0 times its book value
  • Promoter holding has decreased over last 3 years: -24.0%

* 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 Nifty200 Alpha30 Nifty Midcap150 Momentum 50 Nifty Total Market BSE Capital Goods Nifty LargeMidcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
718 698 839 914 958 1,108 1,074 1,153 1,330 1,538 1,701 1,637 1,836
667 637 742 803 776 903 894 900 943 1,142 1,246 1,192 1,375
Operating Profit 51 61 97 111 182 205 180 252 388 396 455 445 461
OPM % 7% 9% 12% 12% 19% 18% 17% 22% 29% 26% 27% 27% 25%
12 9 -4 6 12 4 26 21 16 19 -51 43 42
Interest 11 7 7 3 2 3 4 6 3 2 3 7 3
Depreciation 13 13 12 12 12 12 12 11 11 12 12 12 12
Profit before tax 39 50 73 101 180 194 190 256 390 401 390 469 487
Tax % 27% 26% 32% 34% 25% 25% 25% 27% 25% 25% 25% 25% 25%
28 37 49 66 135 145 143 186 291 299 291 352 363
EPS in Rs 1.10 1.45 1.93 2.59 5.25 5.65 5.57 7.28 11.37 11.70 11.36 13.74 14.18
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
3,711 3,303 4,052 4,332 4,219 3,159 3,452 3,066 2,773 3,168 4,292 6,206 6,712
3,379 3,197 3,996 4,057 3,765 3,354 3,282 3,155 2,652 2,836 3,461 4,500 4,956
Operating Profit 332 107 57 275 454 -195 171 -89 121 332 831 1,706 1,757
OPM % 9% 3.2% 1.4% 6% 11% -6% 4.9% -2.9% 4.4% 10% 19% 28% 26%
11 142 141 239 49 5 69 136 22 22 62 25 53
Interest 91 107 182 106 85 87 84 59 61 41 27 35 15
Depreciation 82 86 88 90 83 78 66 58 55 50 47 46 47
Profit before tax 170 56 -73 319 335 -356 89 -69 27 263 820 1,650 1,747
Tax % 29% 38% 18% 35% 36% -15% 32% -29% 106% 31% 26% 25%
121 34 -87 209 213 -303 60 -50 -1 181 608 1,233 1,305
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 50.98
Dividend Payout % 38% 134% -53% 22% 22% 0% 0% 0% 0% 28% 21% 21%
Compounded Sales Growth
10 Years: 7%
5 Years: 12%
3 Years: 31%
TTM: 44%
Compounded Profit Growth
10 Years: 44%
5 Years: 86%
3 Years: 490%
TTM: 77%
Stock Price CAGR
10 Years: 29%
5 Years: 96%
3 Years: 128%
1 Year: 52%
Return on Equity
10 Years: 16%
5 Years: 27%
3 Years: 42%
Last Year: 57%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
280 504 518 100 81 599 316 226 273 42 35 24
2,900 3,090 3,563 3,479 2,688 2,503 2,664 2,461 2,333 2,300 2,853 5,025
Total Liabilities 4,492 4,772 5,114 4,769 4,196 4,154 4,102 3,767 3,679 3,584 4,661 7,739
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
3,735 4,055 4,433 4,165 3,679 3,604 3,587 3,302 3,250 3,173 4,234 7,262
Total Assets 4,492 4,772 5,114 4,769 4,196 4,154 4,102 3,767 3,679 3,584 4,661 7,739

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
502 -91 188 1,054 -355 -260 311 8 -37 518 904 1,710
-137 -50 -47 -306 287 -30 12 116 3 -172 -495 -509
-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 1,054
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% 129%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 292 511 542 234 136 177 143 159 119 103 100 132
Days Payable 766 823 805 389 247 272 275 283 197 156 146 170
Cash Conversion Cycle -262 -84 -58 -4 63 125 69 62 127 114 79 90
Working Capital Days 50 22 -2 -18 48 20 23 13 20 29 35 6
ROCE % 16% 10% 7% 30% 31% -14% 11% -9% 8% 23% 55% 77%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Order Intake
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Order Backlog
INR Million
Capital Expenditure
INR Million
Export Order Mix
%
Permanent Employees
Count
Private Customer Share of Order Book
%

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
75.00% 75.00% 75.00% 75.00% 59.38% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00%
0.59% 0.69% 1.20% 2.04% 6.82% 12.04% 13.04% 14.49% 16.15% 18.46% 20.39% 22.89%
16.18% 16.11% 15.84% 14.96% 25.61% 28.40% 28.18% 26.75% 25.20% 23.27% 21.39% 18.46%
8.23% 8.20% 7.96% 8.00% 8.19% 8.55% 7.77% 7.74% 7.66% 7.26% 7.22% 7.65%
No. of Shareholders 39,71737,44344,12159,13074,41387,00082,05490,6631,02,9341,03,2261,10,6621,38,122

* 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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