GE Vernova T&D India Ltd

GVT&D

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Market Cap

₹ 77,257 Cr

P/E

84.00

Turned 1 L into 25.34 L in last 5 Years

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

MODERATE RISK

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Price

PE Ratio

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Overview

Detailed Summary

GE Vernova T&D India Limited, formerly known as GE T&D India Limited, specializes in power transmission and distribution infrastructure. It offers a wide portfolio of products, services, and solutions including transmission equipment up to ultra-high voltage levels.

The company's recent financial performance has been robust, with a 39% YOY revenue growth in Q2 FY25-26, achieving a total revenue of INR 15.4 billion. Profits before tax more than doubled from the previous year.

GE Vernova T&D India maintains a robust order backlog, highlighting strong future revenue visibility. The Q2 order book stood strong with a cumulative value of INR 131.1 billion despite a noticeable drop in order intake year-over-year.

Significant capital expenditure plans are underway with an additional BINR 8 investment to expand manufacturing and engineering capacities, indicating strategic growth initiatives.

The company's strategic focus on HVDC technology and digital solutions underscores its push towards innovative solutions in power transmission to support India's growing energy demands.

Sector

Capital Goods - Electrical Equipment

Industry

Electric Equipment - General - Large

Market Cap

77,257 Cr

Volatility

Moderate Risk

P/E Ratio

84.0

Industry P/E

59.2

PEG Ratio

4.0

P/B Ratio

37.0

52W High

3,323.70

52W Low

1,252.85

Sales CAGR

35.49%

11.87%

6.33%

10Y

2.39%

Profit CAGR

236.00%

—

10Y

37.56%

ROE

TTM

44.09%

19.27%

12.69%

10Y

7.11%

ROCE

TTM

59.14%

27.01%

18.75%

1Y Price Target

3609.27 ▲ 21.52%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SIEMENS	3139.30	1,12,591 Cr	66.74	8.51	0.38	12.75	17.04	10.54
ABB	5155.00	1,11,030 Cr	62.84	42.68	0.84	0.00	0.00	20.64
CGPOWER	668.00	1,05,962 Cr	99.24	14.20	0.19	14.32	19.43	9.16
BHEL	277.90	97,289 Cr	174.63	3.99	0.18	2.29	3.17	0.78
HAVELLS	1393.10	88,525 Cr	60.52	10.21	0.71	16.87	22.30	10.70
WAAREEENER	2876.60	83,954 Cr	31.07	7.31	0.00	23.50	25.22	11.38
GVT&D	2970.00	77,257 Cr	84.00	37.03	0.17	44.09	59.14	15.17

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	718	698	839	914	958	1,108	1,074	1,153	1,330	1,538
Expenses	667	637	742	803	776	903	894	900	943	1,142
Operating Profit	51	61	97	111	182	205	180	252	388	396
OPM %	7.08	8.69	11.51	12.15	19.01	18.48	16.74	21.88	29.14	25.77
Other Income	12	9.14	-4.26	5.71	12	3.88	26	21	16	19
Interest	11	6.87	6.95	3.17	2.03	2.75	3.88	5.65	2.75	2.21
Depreciation	13	13	12	12	12	12	12	11	11	12
Profit Before Tax	39	50	73	101	180	194	190	256	390	401
Tax %	26.90	26.10	32.36	34.48	25.22	25.36	24.86	27.19	25.34	25.37
Net Profit	28	37	49	66	135	145	143	186	291	299
EPS in Rs	1.10	1.45	1.93	2.59	5.25	5.65	5.57	7.28	11.37	11.70

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	4,260	4,386	4,219	3,159	3,452	3,066	2,773	3,168	4,292	4,664
Expenses	4,013	4,075	3,793	3,374	3,307	3,175	2,672	2,849	3,474	3,640
Operating Profit	247	311	426	-215	145	-109	102	319	819	1,024
OPM %	5.80	7.09	10.10	-6.81	4.21	-3.55	3.66	10.07	19.07	21.96
Other Income	141	240	58	5.95	69	136	23	23	63	67
Interest	165	88	66	68	59	39	42	28	14	15
Depreciation	88	90	83	78	66	58	55	50	47	46
Profit Before Tax	-73	319	335	-356	89	-69	27	263	820	1,030
Tax %	-18.27	34.52	36.43	14.93	32.48	28.58	105.57	31.18	25.78	25.71
Net Profit	-87	209	213	-303	60	-50	-1.49	181	608	765
EPS in Rs	-3.37	8.17	8.31	-11.82	2.36	-1.93	-0.05	7.07	23.75	35.92
Dividend Payout %	-52.94	22.09	21.66	0.00	0.00	0.00	0.00	28.29	21.04	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	51	51	51	51	51	51	51	51	51	51
Reserves	1,127	982	1,138	1,377	1,000	1,071	1,029	1,022	1,192	1,722
Borrowings	504	518	100	81	599	316	226	273	42	35
Other Liabilities	3,090	3,563	3,479	2,688	2,503	2,630	2,461	2,333	2,300	2,853
Total Liabilities	4,772	5,114	4,769	4,196	4,154	4,069	3,767	3,679	3,584	4,661
Fixed Assets	684	656	586	513	538	494	449	413	393	372
CWIP	33	25	18	5.06	12	22	8.96	9.21	11	47
Investments	0.01	0.01	0.01	0.01	0.01	0.01	7.69	7.63	7.56	7.49
Other Assets	4,055	4,433	4,165	3,679	3,604	3,554	3,302	3,250	3,173	4,234
Total Assets	4,772	5,114	4,769	4,196	4,154	4,069	3,767	3,679	3,584	4,661

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-91	188	1,054	-355	-260	311	8.21	-37	518	904
Cash from Investing Activity	-50	-46	-305	287	-31	12	116	2.97	-172	-496
Cash from Financing Activity	120	-131	-585	-114	290	-324	-102	8.56	-259	-69
Net Cash Flow	-20	12	165	-183	-0.30	-0.96	22	-26	87	339

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	59.38%	51.00%	51.00%	51.00%	51.00%
FIIs	0.26%	0.26%	0.37%	0.59%	0.69%	1.20%	2.04%	6.82%	12.05%	13.05%	14.49%	16.15%
DIIs	15.74%	15.73%	16.52%	16.19%	16.11%	15.84%	14.97%	25.61%	28.40%	28.19%	26.76%	25.20%
Public	9.01%	9.02%	8.10%	8.22%	8.20%	7.96%	7.99%	8.19%	8.55%	7.77%	7.75%	7.65%
Total Shareholders	39,123	38,865	38,226	39,717	37,443	44,121	59,130	74,413	87,000	82,054	90,663	1,02,934

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Nov 24, 2025	Bnp paribas financial markets	Bulk	Sell	2,866.23	1,098.05 Cr	38,30,980	1.49
Nov 24, 2025	Integrated core strategies (a...	Bulk	Sell	2,869.13	406.87 Cr	14,18,089	0.55

Projection

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Announcements

Last 7 days

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Sentiment

Order Receipt

8 hours ago

GE Vernova T&D India Receives Order from PGCIL

GE Vernova T&D India Limited has announced the receipt of a Letter of Award for refurbishing the 2x 500 MW HVDC Chandrapur back-to-back link from Power Grid Corporation of India Limited.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

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GE Vernova T&D India Ltd

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Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Technicals

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Overall

Bullish

Moving Averages

Bullish

Overall

Bullish

Forecasts

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3609.27 ▲ 21.52%

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Investment Checklist

Peers

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