GE Vernova T&D India Limited Announces Senior Management Changes in HR Department

GE Vernova T&D India Limited has announced key changes in its senior management personnel, effective January 1, 2026. The company filed the intimation with stock exchanges under Regulation 30 of SEBI Listing Regulations on December 31, 2025.

Leadership Transition Details

The management changes involve a transition in the Human Resources department leadership. The company has provided detailed information about both the outgoing and incoming personnel as part of regulatory compliance.

Personnel Changes:	Details
Outgoing Executive:	Mr. Amresh Singh, Executive-Human Resource Partner
Incoming Executive:	Ms. Poonam Mathur, Head of Human Resources
Effective Date:	January 1, 2026
Appointment Basis:	Nomination and Remuneration Committee recommendation

Cessation of Current Role

Mr. Amresh Singh will cease to be a Senior Management Personnel of the company with effect from January 1, 2026. The cessation is attributed to a change in his role within the organization, rather than resignation or removal from the company entirely.

New Appointment Profile

Ms. Poonam Mathur has been appointed as Head of Human Resources and Senior Management Personnel effective January 1, 2026. Her appointment comes as a full-time employment arrangement based on the Board's decision following recommendations from the Nomination and Remuneration Committee.

Professional Background

Ms. Mathur brings substantial experience to her new role:

Educational Qualifications: Bachelor's in Commerce from Delhi University and Master's in Human Resources & Corporate Governance from Institute of Management Technology, Ghaziabad
Career Start: Management Trainee-Talent Acquisition with SAB Miller in 2007
GE Group Experience: Joined GE group in 2008 and has worked in various HR leadership roles
Current Role: Regional HR Leader India & APAC region for Electrification Software business
Total Experience: Approximately 18 years in human resources and management

Regulatory Compliance

The announcement was made pursuant to Regulation 30 read with Para A (7) of part A of Schedule III of the SEBI Listing Regulations. The company has fulfilled all disclosure requirements as mandated by SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The intimation was signed by Shweta Mehta, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited for regulatory compliance and investor information.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.48%	-8.42%	+5.12%	+21.62%	+45.55%	+2,117.37%

GE Vernova T&D India shares have delivered exceptional performance, rising 47% year-to-date including a 31% gain over six months. This remarkable momentum has been driven by strong traction in the company's order pipeline and robust growth prospects in India's expanding power transmission sector.

Record Order Backlog Drives Growth

The company reported its highest-ever order backlog of ₹13,100 crore, representing over three times its revenue of ₹4,292 crore. This substantial order book provides strong revenue visibility and underpins the company's growth trajectory over the coming years.

Financial Metric	Value
Order Backlog	₹13,100 crore
Revenue	₹4,292 crore
Order Book Multiple	3.05x revenue
Current Stock Price	₹3,078.00

Major Contract Wins Strengthen Position

GE Vernova T&D India has secured significant contracts that further bolster its order book. The company announced winning a contract from Adani Energy Solutions to supply high-voltage direct current (HVDC) technology for the 2.5-gigawatt Khavda-South Olpad renewable power transmission corridor in Gujarat. While the order value remains undisclosed, analysts estimate it to be between ₹7,500 crore and ₹10,000 crore, with execution spread over 4-5 years.

Additionally, the company secured another substantial order worth ₹1,230 crore from Power Grid Corporation of India for refurbishment of 2x 500 megawatt HVDC Chandrapur back-to-back link between northern and southern India.

Recent Order Wins	Details
Adani Energy Solutions	HVDC for Khavda-South Olpad corridor
Estimated Value	₹7,500-10,000 crore
Execution Timeline	4-5 years
PGCIL Order	₹1,230 crore
Project Type	HVDC Chandrapur refurbishment

Strong Financial Outlook and Expansion Plans

The company expects revenue to rise by over 35% year-on-year to ₹5,500-6,000 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin is projected to remain around mid-20%, supported by a 30-35% export mix.

To support future growth, GE Vernova T&D India announced capital expenditure of ₹800 crore in the September quarter, to be spread over the next 2-3 years. This investment will expand engineering and manufacturing capabilities, boosting transformer and reactor capacities at Vadodara and adding new production lines for bushings and air-core reactors at Hosur.

Growth Projections	Targets
Revenue Growth	Over 35% YoY
Revenue Range	₹5,500-6,000 crore
EBITDA Margin	Mid-20%
Export Mix	30-35%
Planned Capex	₹800 crore over 2-3 years

Analyst Outlook and Valuation

The strong performance has resulted in a higher trailing price-earnings multiple of 86 compared to peers, reflecting better expected growth prospects. However, analysts remain optimistic about the company's long-term potential. Nuvama Institutional Equities estimates a potential 20-30% upside to FY28-29 earnings estimates, setting a target price of ₹3,680. Other brokerages have set targets at ₹3,350 (Emkay Global) and ₹3,531 (PL Capital).

The management expects robust demand as India targets 500 GW of non-fossil fuel capacity and peak power demand is projected to rise by 80% by 2032. Shares of GE Vernova T&D India closed 0.20% higher at ₹3,078.00 on the BSE.