GE Vernova T&D India Limited has reported financial performance for the second quarter and announced expansion plans to meet demand in the power transmission sector.

Financial Highlights

For the quarter ended September 30, GE Vernova T&D India reported the following results:

The company's revenue increased by 38.90% year-over-year to 15,384.60 crore, while net profit rose to 2,994.80 crore. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew to 3,960.90 crore, with the EBITDA margin expanding by 728 basis points to 25.77%.

Expansion Plans

GE Vernova T&D India's Board of Directors has approved an investment of INR 806 crore to expand existing facilities at Vadodara, Hosur, and Padappai. The expansion plan includes:

• Increasing capacity for Transformers & Reactors at the Vadodara facility
• Expanding GIS & AIS products at Padappai and Hosur locations
• Establishing new manufacturing lines for Air Core Reactors and Bushing at the Hosur facility

The investment aims to increase the existing capacity of transformers and reactors by more than 50% and GIS & AIS products capacity by up to 25%. The expansion project is scheduled for completion by 2028 and will be funded through internal accruals.

Market Outlook

The company's financial performance and expansion plans reflect the outlook for the power transmission sector in India and export markets. As investments continue in power infrastructure, GE Vernova T&D India may be positioned to capitalize on these opportunities.

Investors and industry observers may watch how these expansion plans could affect future growth and market share for GE Vernova T&D India in the coming years.

GE Vernova T&D India Limited, a prominent player in the power transmission and distribution sector, recently held its 69th Annual General Meeting (AGM), where shareholders approved several significant resolutions. The meeting saw the passage of nine resolutions, including key appointments and material related party transactions.

Re-appointment of Independent Director

One of the notable outcomes of the AGM was the re-appointment of Mr. Sanjay Sagar as an Independent Director for a second five-year term. Shareholders approved Sagar's continuation on the board from July 1, 2025, to June 30, 2030. With over four decades of experience in the energy sector, Sagar brings valuable expertise to the company. His previous tenure as Joint Managing Director & CEO of JSW Energy Ltd. from 2012 to 2017 saw the company's generation capacity double and profitability increase seven-fold.

New Secretarial Auditor

The shareholders also gave their nod to the appointment of M/s. RMG & Associates as the company's Secretarial Auditor for a five-year term from FY 2025-26 to FY 2029-30. RMG & Associates, a Delhi-based firm established in 2001, brings 24 years of experience in corporate secretarial and regulatory matters to the role.

Material Related Party Transactions

The AGM saw the approval of several material related party transactions:

1. A transaction with LM Wind Power Blades (India) Private Limited for lending to cash pool.
2. Transactions with Grid Solutions Middle East FZE for the sale of goods/material, including project-related and other services.
3. Transactions with Grid Solution SAS for the sale and purchase of goods/material and/or services, including rendering and availing of project-related and business support services.

Financial Matters

Shareholders adopted the audited financial statements for the year ended March 31, 2025, along with the reports of the Board of Directors and Auditors. Additionally, a final dividend of Rs. 5.00 per equity share (face value Rs. 2.00) was declared for the financial year 2024-25.

Other Approvals

The AGM also saw the appointment of Mr. Fabrice Aumont as a Director liable to retire by rotation and the ratification of the remuneration for M/s. Ramanath Iyer & Co., Cost Accountants, as the Cost Auditor for the financial year ending March 31, 2026.

The strong shareholder support for these resolutions, with most passing with over 99% votes in favor, reflects confidence in GE Vernova T&D India Limited's governance and strategic direction. As the company continues to navigate the dynamic power sector landscape, these approvals set the stage for its operations in the coming years.