Rs 500 crore order received: This multibagger stock hits upper circuit as it secures multi-crore orders from Power Grid Corporation of India!

GE T&D India Ltd.'s Strong Market Position, Ability to Deliver Quality Products and Receipt of Orders from PGC

GE T&D India Ltd. (NSE: GE T&D Ltd.), a part of GE Vernova's Grid Solutions business, has secured orders worth approximately Rs 500 crores from Power Grid Corporation of India (PGCIL) for the supply of 765 kV Power Transformers and Shunt Reactors for PGCIL's various transmission system projects in India. These projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country, including the state of Rajasthan.

This order is a significant win for GE T&D India, demonstrating the company's strong market position and its ability to deliver high-quality products and services to its customers. It also highlights the company's commitment to the Indian market and its support for the country's ambitious grid modernization plans.

Key Financial Highlights (Q1 FY2023)

• In Q1 FY2023, GE T&D India's revenue stood at Rs 718 crore, a notable increase from Rs 593 crores in the previous year's corresponding quarter.
• The company's Profit Before Tax (PBT) surged to Rs 39 crore, up from Rs 10 crores in the same quarter of the previous year.
• GE T&D India's Profit After Tax (PAT) reached Rs 28 crore, a substantial rise compared to Q1 FY2023 when it was Rs 6 crore.
• In Q1FY24, the order book amounted to Rs 1000 crore with significant increase of 68 per cent compared to Rs 600 crore in Q1FY23. This demonstrates strong demand for the products and services in the market

Recent Developments

• In September 2023, GE T&D India inaugurated a state-of-the-art manufacturing facility for power transformers in Vadodara, Gujarat. This new facility boasts a production capacity of over 100 power transformers annually, enabling GE T&D India to meet the increasing demand for power transformers in both India and abroad.
• In August 2023, GE T&D India entered into a Memorandum of Understanding (MoU) with the Government of Rajasthan to establish a Centre of Excellence for Smart Grid Technologies in the state. The Centre of Excellence will primarily focus on the development and deployment of innovative smart grid solutions, contributing to Rajasthan's renewable energy targets and enhancing the efficiency and reliability of its power grid.

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