GE Vernova T&D India Sets Ambitious Revenue Target for FY25, Reports Strong Q2 Performance

GE Vernova T&D India Limited , a key player in the power transmission and distribution sector, has announced ambitious revenue targets for the fiscal year 2025 (FY25) alongside its robust second-quarter results for the fiscal year 2024-25.

FY25 Revenue Target

The company has set its sights on achieving a revenue of INR 5,500-6,000 crore for FY25. This target represents a significant growth from the previous year, underlining the company's expansion plans in the power sector.

Margin Expectations

GE Vernova T&D India aims to maintain healthy profit margins:

Overall margins targeted to remain above 20%
EBITDA margins expected in the mid-20s range for FY25

The company's focus is on driving absolute EBITDA growth through increased volumes, indicating a strategy of scale-driven profitability.

Q2 FY 2024-25 Financial Highlights

The company has reported strong financial results for the second quarter:

Metric	Q2 FY 2024-25	Q2 FY 2023-24	YoY Growth
Revenue from Operations	INR 15,384.60 crore	INR 11,077.70 crore	38.9%
Net Profit	INR 2,994.80 crore	INR 1,446.20 crore	107.1%
EBITDA Margin	25.8%	18.5%	730 bps

The substantial year-on-year growth in revenue and profitability showcases the company's strong market position and operational efficiency.

Order Book and Market Position

While the company reported robust financial performance, there was a notable decline in order bookings:

Q2 FY 2024-25 order bookings: INR 16.10 billion
Q2 FY 2023-24 order bookings: INR 46.80 billion
Year-on-year decline: 66%

Despite this, GE Vernova T&D India secured several significant orders, including:

765 kV, 400 kV, and 220 kV GIS substations from a private TBCB player in Gujarat
400/220kV AIS Substation from a private renewable developer in Karnataka
765 kV GIS substation from a private EPC player in Maharashtra
Multiple orders for AIS/GIS equipment exports to Europe, North America, Middle East, and Africa

Expansion Plans

The Board of Directors has approved a significant investment of INR 806 crore towards expanding existing facilities:

Increase in capacity for Transformers & Reactors at Vadodara facility by more than 50%
Up to 25% capacity increase for GIS & AIS products at Padappai and Hosur locations
Establishment of new manufacturing lines for Air Core Reactors and Bushing at Hosur

This expansion is slated for completion over three years, from 2026 to 2028, and will be funded through internal accruals.

Management Commentary

Sandeep Zanzaria, Managing Director & CEO of GE Vernova T&D India Limited, stated, "Our results were fueled by the accelerating pace of India's grid modernization, which is essential for bolstering reliability, integrating vast renewable capacity, and meeting the nation's rising power requirements. Importantly, we have maintained a disciplined focus on margin-accretive orders, a strategy we are committed to pursuing for long term."

He added, "Our investment plans to improve capacity will ensure our manufacturing facilities are ready to support India's energy transition and grid modernization, while positioning the company for long-term stability and success."

The company's strong financial performance, coupled with its expansion plans, positions GE Vernova T&D India as a key player in India's evolving power sector landscape. As the nation continues its push towards grid modernization and renewable energy integration, the company appears well-positioned to capitalize on these opportunities.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.56%	+5.17%	-0.77%	+94.75%	+76.25%	+73.10%

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:

Metric	Q2	Q2 Previous Year	YoY Change
Revenue	15,384.60	11,077.70	38.90%
Net Profit	2,994.80	1,446.20	107.10%
EBITDA	3,960.90	2,050.50	93.20%
EBITDA Margin	25.77%	18.49%	728 bps

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.