GE Vernova T&D India Ltd
GVT&D NSE
GE Vernova T&D India Ltd
Capital GoodsNSE: GVT&D BSE: 522275 Electrical Equipment
Key Fundamentals
MidcapElectrical EquipmentCapital GoodsMarket Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
84.44
EBITDA
₹1,620 Cr
Return on Equity
34.31%
Debt to Equity
0.01
Book Value
₹105.07
52W High
₹5,650
52W Low
₹2,523.2
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view GE Vernova T&D India Ltd insights
47 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
6- 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 42.2%
- Company has been maintaining a healthy dividend payout of 23.4%
Weaknesses
2- Stock is trading at 41.9 times its book value
- Promoter holding has decreased over last 3 years: -24.0%
Growth Rate
Revenue Growth
42.51% ↗
Net Income Growth
96.41% ↗
Cash Flow Change
74.32% ↗
ROE
135.48% ↗
ROCE
103.98% ↗
EBITDA Margin (Avg.)
27.12% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
GE Vernova T&D India is a capital goods company with a market cap of ₹1,10,195 crore, trading at a PE of 87.3x and 42.3x book value. The company delivered FY25 revenue of ₹4,292 crore (up 35% YoY) with PBT of ₹820 crore (more than 3x YoY), and holds a record order backlog of ₹13,100 crore (over 3x FY25 revenue), while FII shareholding has risen to 18.46% as of December 2025.
Bull Case 8
- Exceptional profit growth with 5-year compounded profit CAGR of 86% and TTM profit growth of 77%, reflecting strong operating leverage
- Record order backlog of ₹13,100 crore as of September 2025, which is over 3x FY25 revenue of ₹4,292 crore, providing multi-year revenue visibility
- FY25 revenue grew 35% to ₹4,292 crore with PBT expanding more than 3x to ₹820 crore, demonstrating significant margin expansion
- 3-year ROE of 42% and last year ROE of 57%, indicating highly efficient capital deployment in a near debt-free balance sheet
- Q1 FY27 continued momentum with 38% revenue growth to ₹1,840 crore and 25% net profit growth to ₹360 crore
- Company is virtually debt-free, allowing full reinvestment of operating cash flows and eliminating balance sheet risk
- FII shareholding increased from 12.04% in December 2024 to 18.46% in December 2025, reflecting growing institutional confidence
- Compounded sales CAGR has accelerated from 7% over 10 years to 31% over 3 years and 44% TTM, indicating structural demand inflection in power T&D sector
Bear Case 8
- Stock trades at 87.3x PE and 42.3x price-to-book, demanding flawless execution to justify current valuation levels
- New order inflows declined 30% YoY in Q1 FY27 to ₹1,140 crore from ₹1,620 crore, raising concerns about order momentum sustainability
- Promoter holding has decreased by 24% over 3 years, including an OFS at floor price of ₹1,550 per share in November 2024 to sell up to 8.38% stake
- Gross margin narrowed to 41.3% in Q1 FY27 from 45.3% in FY26 and 48.4% a year earlier, indicating potential margin pressure from raw material costs
- Dividend yield of just 0.23% offers minimal income return, making the stock entirely dependent on capital appreciation
- Stock CAGR of 147% over 3 years and 53% over 1 year has far outpaced the 31% and 44% compounded sales growth, suggesting valuation has run ahead of fundamentals
- DII holdings fell from 52.86 crore shares in December 2025 to 48.77 crore shares in March 2026, with estimated net selling of ₹3,801 crore
- 10-year compounded sales CAGR is only 7%, indicating that the recent growth acceleration is cyclical rather than secular, and mean reversion risk exists
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 4h ago Positives 2
- Strong Q1FY26 profit up 25% Aug 7
Net profit rose 25% YoY to ₹3,630 million on revenue of ₹18,361 million, driven by order wins in North America and Europe.
- ₹10 final dividend for FY26 Aug 12
Board recommended ₹10 per share final dividend for FY26, subject to AGM approval on September 9, 2026, with record date August 21, 2026.
Neutral 3
- ₹24.79 Cr block trade on NSE Jul 29
Approximately 60,449 shares changed hands at ₹4,101.80 per share in an institutional block trade worth ₹24.79 crores, executed outside the regular order book.
- Q1FY27 earnings call scheduled Jul 30
Management will host an analyst call on August 7, 2026, to discuss un-audited results for the quarter ended June 30, 2026.
- Neera Saggi exits board Jul 26
Independent Director Neera Saggi stepped down on July 26, 2026, after completing her second and final term.
TL;DR: GE Vernova T&D India is delivering strong earnings growth with Q1FY26 profit up 25% YoY, backed by international order wins and healthy revenue expansion. The company is rewarding shareholders with a ₹10 dividend. No material headwinds are visible in recent news flow. The trend is positive, and the upcoming Q1FY27 results will be key to confirming whether momentum is sustained.
Quarterly Results
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 718 | 698 | 839 | 914 | 958 | 1,108 | 1,074 | 1,153 | 1,330 | 1,538 | 1,701 | 1,637 | 1,836 |
| Expenses | 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% |
| Other Income | 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 |
| PBT | 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% |
| Net Profit | 28 | 37 | 49 | 66 | 135 | 145 | 143 | 186 | 291 | 299 | 291 | 352 | 363 |
| EPS in Rs | 1.1 | 1.45 | 1.93 | 2.59 | 5.25 | 5.65 | 5.57 | 7.28 | 11.37 | 11.7 | 11.36 | 13.74 | 14.18 |
Profit & Loss
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 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 |
| Expenses | 3,379 | 3,197 | 3,996 | 4,057 | 3,765 | 3,354 | 3,282 | 3,155 | 2,652 | 2,836 | 3,461 | 4,523 | 4,956 |
| Operating Profit | 332 | 107 | 57 | 275 | 454 | -195 | 171 | -89 | 121 | 332 | 831 | 1,684 | 1,757 |
| OPM % | 9% | 3.2% | 1.4% | 6% | 11% | -6% | 4.9% | -2.9% | 4.4% | 10% | 19% | 27% | 26% |
| Other Income | 11 | 142 | 141 | 239 | 49 | 5 | 69 | 136 | 22 | 22 | 62 | 27 | 53 |
| Interest | 91 | 107 | 182 | 106 | 85 | 87 | 84 | 59 | 61 | 41 | 27 | 15 | 15 |
| Depreciation | 82 | 86 | 88 | 90 | 83 | 78 | 66 | 58 | 55 | 50 | 47 | 46 | 47 |
| PBT | 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% | — |
| Net Profit | 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 |
| Div. Payout % | 38% | 134% | -53% | 22% | 22% | 0% | 0% | 0% | 0% | 28% | 21% | 21% | — |
Balance Sheet
| 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 |
| Borrowings | 280 | 504 | 518 | 100 | 81 | 599 | 316 | 226 | 273 | 42 | 35 | 24 |
| Other Liabilities | 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 |
| Fixed Assets | 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 |
| Other Assets | 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 Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 502 | -91 | 188 | 1,054 | -355 | -260 | 311 | 8 | -37 | 518 | 904 | 1,710 |
| Investing | -137 | -50 | -47 | -306 | 287 | -30 | 12 | 116 | 3 | -172 | -495 | -511 |
| Financing | -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 | 1,052 |
| 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 | 131 |
Ratios
| 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% | 76% |
Documents
1
Board Meeting Intimation for Consider The Financial Results And Recommendation Of Dividend, If Any
1 May - Board meets May 18, 2026 to approve FY26 audited results and consider dividend. 1 May - Board meets May 18, 2026 to approve FY26 audited results and consider dividend.
2
Clarification sought from GE Vernova T&D India Ltd
5 May - Exchange has sought clarification from GE Vernova T&D India Ltd on May 5, 2026, with reference to news appeared in https://economictimes.indiatimes.com/ dated May 4, 2026 … 5 May - Exchange has sought clarification from GE Vernova T&D India Ltd on May 5, 2026, with reference to news appeared in https://economictimes.indiatimes.com/ dated May 4, 2026 …
3
Response On Clarification Sought From The Company.
5 May - Company denies receiving pumped storage order; says it belongs to GE Vernova Hydro Power India. 5 May - Company denies receiving pumped storage order; says it belongs to GE Vernova Hydro Power India.
4
Board Meeting Intimation for Consider The Financial Results And Recommendation Of Dividend, If Any
1 May - Board meets May 18, 2026 to approve FY26 audited results and consider dividend. 1 May - Board meets May 18, 2026 to approve FY26 audited results and consider dividend.
5
Announcement under Regulation 30 (LODR)-Newspaper Publication
20 Apr - Newspaper Advertisement of Special Window for Transfer and Dematerialization of Physical Shares 20 Apr - Newspaper Advertisement of Special Window for Transfer and Dematerialization of Physical Shares
Frequently Asked Questions about GE Vernova T&D India Ltd
What does GE Vernova T&D India Ltd do?
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]
Where is GE Vernova T&D India Ltd (GVT&D) listed?
GE Vernova T&D India Ltd is listed on the Indian stock exchanges. It is listed on NSE: GVT&D and BSE: 522275. You can view its live share price, financials, and ratios on Tapetide.
Which sector does GE Vernova T&D India Ltd belong to?
GE Vernova T&D India Ltd operates in the Capital Goods sector within the Electrical Equipment industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of GE Vernova T&D India Ltd?
GE Vernova T&D India Ltd has a market capitalisation of approximately ₹110578.82 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of GE Vernova T&D India Ltd?
The Price-to-Earnings (PE) ratio of GE Vernova T&D India Ltd is 84.44. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of GE Vernova T&D India Ltd?
Over the past 52 weeks, GE Vernova T&D India Ltd has traded between a low of ₹2,523.2 and a high of ₹5,650. This range helps investors understand the stock's price volatility and recent trading levels.
Does GE Vernova T&D India Ltd pay dividends?
Yes, GE Vernova T&D India Ltd has a dividend yield of 0.23%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of GE Vernova T&D India Ltd?
GE Vernova T&D India Ltd has a Return on Equity (ROE) of 34.31%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research GE Vernova T&D India Ltd on Tapetide?
On Tapetide, you can view GE Vernova T&D India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
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]
CEO Mr. Sandeep Zanzaria
Employees 1,697
Listed 2008-06-30
Face Value ₹ 2
Issued Size 25,60,46,535