Overview

Detailed Summary

GE Vernova T&D India Limited is a leading player in the power transmission and distribution sector in India, providing a range of high-voltage products such as transformers and switchgear.
The company reported remarkable financial performance in Q3 FY 2025-26, with a 58% year-on-year growth in revenue, highlighting strong demand and excellent execution of its order book.
A significant order intake of INR29.4 billion was recorded in Q3 FY 2025-26, expanding the company's order backlog to INR143.8 billion as of December 2025, showcasing strategic market positioning and competitive advantage.
Its focus on high-margin projects and operational efficiency has led to improved margins, with EBITDA reaching 27.1% for the nine months ended December 2025.
The management is actively pursuing opportunities in both domestic and international markets, leveraging strategic initiatives and collaborations to sustain growth and profitability.

Sector: Electrical Equipment
Industry: Heavy Electrical Equipment
Market Cap: 1,21,235 Cr
Volatility: Moderate Risk
P/E Ratio: 98.3
Industry P/E: 50.7
PEG Ratio: 4.0
P/B Ratio: 45.1
52W High: 5,220.00
52W Low: 2,225.20

Sales CAGR

1Y: 35.49%
3Y: 11.87%
5Y: 6.33%
10Y: 2.39%

Profit CAGR

1Y: 236.00%
3Y: —
5Y: —
10Y: 37.56%

ROE

TTM: 45.84%
3Y: 19.27%
5Y: 12.69%
10Y: 7.11%

ROCE

TTM: 61.32%
3Y: 27.01%
5Y: 18.75%
10Y: 15.16%

Technicals

Oscillators

BearishNeutralBullish

Neutral

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Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Forecasts

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Peers

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
POWERINDIA		33350.00	1,48,153 Cr	149.98	28.62	0.02	19.09	24.84	8.20
ABB		6740.10	1,42,466 Cr	47.85	18.18	0.59	21.29	28.14	21.83
CGPOWER		901.30	1,41,951 Cr	117.68	17.81	0.14	15.13	20.17	9.46
BHEL		370.60	1,29,045 Cr	80.64	4.94	0.38	6.12	5.84	2.10
SIEMENS		3532.20	1,25,502 Cr	58.72	9.07	0.51	17.15	22.11	10.04
ENRIN		3409.60	1,21,423 Cr	92.70	25.23	0.12	27.22	32.96	12.82
GVT&D		4763.50	1,21,235 Cr	98.30	45.06	0.21	45.84	61.32	15.93
Median: 7 Co.	—	3532.20	1,29,045 Cr	92.70	18.18	0.21	19.09	24.84	10.04

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	839	914	958	1,108	1,074	1,153	1,330	1,538	1,701	1,637
Expenses	742	803	776	903	894	900	943	1,142	1,246	1,192
Operating Profit	97	111	182	205	180	252	388	396	455	445
OPM %	11.51	12.15	19.01	18.48	16.74	21.88	29.14	25.77	26.73	27.18
Other Income	-4.26	5.71	12	3.88	26	21	16	19	-51	43
Interest	6.95	3.17	2.03	2.75	3.88	5.65	2.75	2.21	2.81	6.98
Depreciation	12	12	12	12	12	11	11	12	12	12
Profit Before Tax	73	101	180	194	190	256	390	401	390	469
Tax %	32.36	34.48	25.22	25.36	24.86	27.19	25.34	25.37	25.38	24.95
Net Profit	49	66	135	145	143	186	291	299	291	352
EPS in Rs	1.93	2.59	5.25	5.65	5.57	7.28	11.37	11.70	11.36	13.74

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	48.17
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

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	59.38%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%
FIIs	0.37%	0.59%	0.69%	1.20%	2.04%	6.82%	12.05%	13.05%	14.49%	16.15%	18.46%	20.39%
DIIs	16.52%	16.19%	16.11%	15.84%	14.97%	25.61%	28.40%	28.19%	26.76%	25.20%	23.28%	21.39%
Public	8.10%	8.22%	8.20%	7.96%	7.99%	8.19%	8.55%	7.77%	7.75%	7.65%	7.26%	7.22%
Total Shareholders	38,226	39,717	37,443	44,121	59,130	74,413	87,000	82,054	90,663	1,02,934	1,03,226	1,10,662

Market Transactions

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Projection

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan