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GE Vernova T&D India Limited
₹4,385.00
▲ 44.00 (+1.01%) today
Latest quote · Yahoo Finance
Market Cap
₹1.12L Cr
P/E (TTM)
86.2
P/B
41.7
Book Value
₹105.08
ROE
48.5%
Div Yield
0.23%
D/E
0.01
EPS (TTM)
₹50.87
52W High
₹5,650.00
52W Low
₹2,523.20
Sales Growth
+38.00%
Profit Growth
+24.70%
Day High
₹4,433.90
Day Low
₹4,357.50
Volume
8,09,572
Fundamentals refreshed 12 hr ago · Statements just now · Source: Yahoo Finance
Quick Take
- • Trading at 86.2× trailing earnings (54.6× forward)
- • Strong ROE at 48.5%
- • Low leverage (D/E 0.01)
- • Modest dividend yield of 0.23%
- • Operating margin 24.4% · Net margin 19.4%
- • Profit growth +24.70% YoY · Beta 0.62
Employees: 1,851
Latest quarter · Jun 2026
| ₹ Cr | Jun 2026 | QoQ | YoY |
|---|---|---|---|
| Revenue | 1,836 | +12.16% | +59.24% |
| Operating Profit | 503 | +3.07% | +84.25% |
| Net Profit | 363 | +3.13% | +95.16% |
| EPS (₹) | 14.18 | +3.20% | +94.78% |
OPM 27.4% · Net margin 19.8% · prev quarter OPM 29.8%
Shareholding Pattern
Numbers in percentages · Source: NSE
| Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 59.38% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% |
| FIIs▲2.50 | 6.82% | 12.05% | 13.05% | 14.49% | 16.15% | 18.46% | 20.39% | 22.89% |
| DIIs▼2.92 | 25.61% | 28.40% | 28.19% | 26.76% | 25.20% | 23.28% | 21.39% | 18.47% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public▲0.42 | 8.19% | 8.55% | 7.77% | 7.75% | 7.65% | 7.26% | 7.22% | 7.64% |
| No. of Shareholders | 74,413 | 87,000 | 82,054 | 90,663 | 1,02,934 | 1,03,226 | 1,10,662 | 1,38,122 |
* 1889511 Equity shares held by Investor Education and Protection Fund (IEPF) Authority on which voting rights are frozen.
Who is buying / selling · last 12 months (NSE)
| Date | Party | Type | Side | Qty | Price |
|---|---|---|---|---|---|
| 24 Nov 25 | Bnp Paribas Financial Markets | Bulk deal | SELL | 38,30,980 | ₹2,866.23 |
| 24 Nov 25 | Integrated Core Strategies (Asia) Pte. Ltd. | Bulk deal | SELL | 14,18,089 | ₹2,869.13 |
About the company
From latest AR & concallGE Vernova T&D India Limited, an entity of GE Vernova’s Electrification segment, is a leading player in India's power transmission and distribution business with over 65 years of presence (FY2025-26). The company provides a comprehensive range of solutions from medium voltage to ultra-high voltage (1200 kV) equipment, including power transformers, circuit breakers, Gas Insulated Switchgear (GIS), High Voltage Direct Current (HVDC) systems, and digital solutions. It serves customers across power generation, transmission, and distribution sectors, utilities, and industrial clients in India, and exports to over 60 countries across Asia, Europe, Latin America, and Africa.
Key facts (FY2025-26)
- Revenue: INR 62.1 billion; Profit Before Tax (PBT): INR 16.5 billion; Profit After Tax (PAT): INR 12.3 billion.
- Order Backlog (as of March 31, 2026): INR 214.6 billion, representing over 3 years of revenue visibility.
- Geographical revenue mix: India accounted for 67% and exports for 33% of total revenue.
- Promoters: Grid Equipments Private Limited (50.7%) and GE Grid Alliance B. V., Netherlands (0.3%), holding a total of 51.0%.
- Operates 5 manufacturing facilities across India (Vadodara, Pallavaram, Padappai, Hosur, and Noida).
- The company is debt-free with a reported surplus cash and bank balance of INR 25 billion as of March 31, 2026.
Recent developments (FY2025-26 & Q1 FY2026-27)
- Committed capital expenditure of approximately ₹10.5 billion in FY2025-26 to expand HVDC/FACTS manufacturing and engineering capabilities and augment other facilities in India.
- Successfully commissioned multiple Air Insulated Switchgear (AIS) & GIS substations, strengthened transmission networks, and supported renewable energy integration projects.
- Secured a major HVDC contract for Adani Energy Solutions Limited’s 2.5 GW Khavda–South Olpad transmission corridor and India’s first HVDC refurbishment order from Power Grid Corporation of India Ltd.
- Maintains its EBITDA guidance in the mid-20s band for FY2026-27, emphasizing a disciplined strategy for margin-accretive growth.
Key risks flagged by management
- Geopolitical conflicts and global trade disruptions could impact supply chains, raw material pricing, and project timelines.
- Execution delays and Right-of-Way (RoW) challenges for transmission projects may increase costs and extend commissioning times.
- Grid stability risks from rapid renewable energy integration necessitate continuous investments in flexible transmission systems.
- Cybersecurity risks are increasing due to the digitalization of the grid, posing threats of operational disruption and data compromise.
Pros
- Strong market position and a century-long legacy in India's power T&D sector, pioneering advanced grid technologies.
- Comprehensive product portfolio spanning medium to ultra-high voltage solutions, supported by significant manufacturing and R&D capabilities.
- Robust financial performance in FY2025-26, marked by 45% revenue growth and over twofold increase in PBT.
Cons
- Order intake moderated in Q1 FY2026-27, down 30% year-on-year, primarily due to slower realization of TBCB projects.
- Gross margins in Q1 FY2026-27 saw a moderation to 41.3% due to lower export revenue share, elevated commodity prices, and ramp-up of lower-margin HV business.
- Significant RPT orders for US data centers and large projects have experienced delays or are currently on hold due to customer-side issues.
