Rs 3,264 crore order book: This multibagger stock hits the upper circuit as it secures a 74 million GBP order from UK Grid Solutions!

2 FY 23-24 Orders booking at Rs 1,080 crore vs Rs 490 crore in Q2 FY 22-23, up by 123 per cent YoY. H1 FY 23-24 Orders booking at Rs 2,090 crore vs Rs 1,090 crore in H1 FY 22-23, up by 92 per cent YoY.

In today’s trading session GE T&D India Limited locked in the 5 per cent upper circuit following a positive development.

GE T&D India Limited voluntarily discloses that it has received an order on December 28, 2023, in the normal course of business from UK Grid Solutions Limited. The international contract involves the supply and manufacturing of HVDC Converter Transformer with FOB Mumbai Port delivery and a 100% payment within 30 days as per the invoice terms. The contractual period spans from December 2023 to October 2026, with an estimated value of around 74 million GBP.

GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid.

Orders Booking and Backlog:

• Q2 FY 23-24 Orders booking at Rs 1,080 crore vs Rs 490 crore in Q2 FY 22-23, up by 123 per cent YoY.
• H1 FY 23-24 Orders booking at Rs 2,090 crore vs Rs 1,090 crore in H1 FY 22-23, up by 92 per cent YoY.
• Order backlog of Rs 4,340 crore vs Rs 3,700 crore as at March 23.

Revenue:

• Q2 FY 23-24 Revenue flat at Rs 700 crore vs Q2 FY 22-23.
• H1 FY 23-24 Revenue at Rs 1,420 crore vs Rs 1,290 crore in H1 FY 22-23, up by 9 per cent YoY.

Profit Before Tax:

• Q2 FY 23-24 Profit before tax & exceptional items at Rs 503 crore vs Rs 101 crore in Q2 FY 22-23.
• H1 FY 23-24 Profit before tax & exceptional items at Rs 889 crore vs Rs 203 crore in H1 FY 22-23.

Net Debt:

• Net debt at Rs 114 crore, reduction of Rs 1,056 crore vs June 23 / reduction of Rs 1,616 crore vs March 23.

Key Orders booked during Q2, FY 23-24

• Package for supply of 110 MVAR 765 kV Reactors and 125 MVAR 400 kV Reactors from Sterlite Power
• Construction of 765/400 kV GIS Substation at Narendra & 765 kV Bay Extn at Pune including civil works from Adani Energy Solutions
• Export order for supply of 225 kV GIS to Senegal
• Package order of 400 kV/220 kV 3 Phase Auto Transformer and 400, 220 kV Gas Insulated Switchgear from an EPC Customer.
• Product package order of 400 kV switchyard equipment comprising of 400 kV/220 kV Power Transformers, Shunt Reactors, Circuit Breakers and Instrument Transformers from an EPC Customer
• Contract for upgradation of existing 66/33 kV Tuensang Substation to 132 kV level GIS Substation from PGCIL
• 220 kV Gas Insulated Switchgear (GIS) order from Tata Motors
• Turnkey Contract for 400 kV substation at Sholapur, Maharashtra from Renew Power

Disclaimer: This article is for informational purposes only and not investment advice.