NewsEarningsGE Vernova T&D India Reports Strong Q1 Results, Focuses on Energy Transition ProjectsGE Vernova T&D India Reports Strong Q1 Results, Focuses on Energy Transition Projects
By ScanX News Team
GE Vernova T&D India Limited reported impressive Q1 financial results with significant year-over-year growth. Revenue increased by 39% to ₹13,301.30 million, EBITDA grew by 113% to ₹3,876.00 million, and Profit After Tax surged by 117% to ₹2,912.00 million. Order bookings rose by 57% to ₹16,200.00 million. The company secured multiple orders for energy transition projects, including 765 kV transformers and reactors, GIS equipment, and grid automation packages. GE Vernova T&D India also made progress in project execution, commissioning various high-voltage systems across India.
*this image is generated using AI for illustrative purposes only.
GE Vernova T&D India Limited , formerly known as GE T&D India Limited, has reported robust financial results for the first quarter, demonstrating significant growth and a strong focus on energy transition projects.
Financial Highlights
The company announced its unaudited financial results for the quarter ended June 30, showcasing impressive year-over-year growth:
| Metric | Q1 | Q1 Previous Year | YoY Growth |
|---|---|---|---|
| Revenue | ₹13,301.30 million | ₹9,583.40 million | 39% |
| EBITDA | ₹3,876.00 million (29.1%) | ₹1,822.00 million (19.0%) | 113% |
| Profit After Tax | ₹2,912.00 million (21.9%) | ₹1,345.00 million (14.0%) | 117% |
| Order Bookings | ₹16,200.00 million | ₹10,300.00 million | 57% |
The company's performance shows a significant improvement in profitability, with EBITDA margin expanding from 19.0% to 29.1% year-over-year.
Strategic Focus on Energy Transition
GE Vernova T&D India is actively pursuing growth opportunities in the energy transition sector. The company has secured multiple orders that align with India's grid modernization efforts and the shift towards renewable energy sources. Key wins in Q1 include:
- Multiple orders for 765 kV transformers and reactors in Rajasthan and Gujarat
- An order for 420 kV GIS from Bharat Heavy Electricals Ltd in Madhya Pradesh
- An order for 420/245 kV GIS from a private EPC player in Maharashtra
- Multiple orders for 765 kV AIS equipment and grid automation packages
- Export orders for AIS/GIS equipment to Europe, South-East Asia, Middle East, and Africa
Operational Highlights
The company has made significant progress in project execution during the quarter:
- Commissioned 765 kV AIS and 400 kV GIS bay, adding 500 MVA transformation capacity for PGCIL in Kotra
- Commissioned 765 kV GIS bays and added 1500 MVA ICT and 330 MVAR reactor for Adani at Khavda
- Successfully commissioned approximately 2,700 MVA at various sites across India
Management Commentary
Sandeep Zanzaria, Managing Director & CEO of GE Vernova T&D India Limited, commented on the results: "We delivered a strong and productive first quarter, driven by continued momentum as India modernizes its grid to improve reliability, accommodate renewable energy sources, and meet increasing electricity demands from various sectors. We have been disciplined in taking profitable orders with better margins and expect to continue on this trajectory."
Future Outlook
GE Vernova T&D India aims to boost profit growth through its robust order pipeline and focus on energy transition projects. The company's strategy aligns with India's push for grid modernization and sustainable transmission and distribution infrastructure. With its strong market position and expertise in grid solutions, GE Vernova T&D India is well-positioned to capitalize on the growing demand for advanced energy infrastructure in India and international markets.
As the energy sector continues to evolve, GE Vernova T&D India's commitment to innovation and sustainability is expected to drive its growth and contribute to the broader goal of decarbonizing and electrifying the Indian grid.
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