Heavy electrical equipment company bags additional order worth Rs 2,735 million from Greenko KA01 IREP Pvt Ltd
The stock is up by 14 per cent from its 52-week low of Rs 220.80 per share
On April 29, 2022, GE Power India Limited secured a contract from GREENKO KA01 IREP Pvt Ltd, initially valued at approximately Rs 8,634 million (US $113 Million), for the comprehensive electro-mechanical package of 3 x 320 MW and 2 x 160 MW Vertical Francis Pump Turbine Fixed Speed Machines at Saundatti, Belagavi, Karnataka. This domestic order, involving design, engineering, manufacturing, supply, and testing from the Main Inlet Valve (MIV) to the LV Terminal connection of the Generator Transformer, was later amended to include an additional 320MW unit, with a revised order value of Rs 2,735 million (exclusive of taxes), and is scheduled for completion by November 22, 2027.
About the Company
GE Power India Limited (GEPIL) is a prominent player in India's power generation equipment market. The company has been instrumental in modernizing and expanding India's infrastructure, navigating complex economic and political landscapes. With a nationwide network of sales offices and workshops, GEPIL has a strong presence across the country. Its manufacturing facilities in Durgapur, West Bengal, and Noida contribute to its ability to deliver a comprehensive range of power generation solutions. GEPIL remains committed to providing sustainable, affordable, and reliable electricity, with a particular focus on emissions control and comprehensive service offerings.
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According to Quarterly Results, the net sales increased by 8 per cent to Rs 316.90 per cent in Q3FY25 compared to Q2FY24. The company reported a net loss of Rs 18.58 crore in Q3FY25 compared to a net profit of Rs 0.37 crore in Q3FY24. In its annual results, the company reported net sales of Rs 1,625 crore and a net loss of Rs 171 crore.
According to the shareholding pattern as of December 2024, the promoters own 68.58 per cent, FIIs own 0.85 per cent, DIIs own 2.80 per cent, the Government own 0.39 per cent and the rest, 27.39 per cent, is owned by the general public. The company has a market cap of over Rs 1,600 crore. The stock is up by 14 per cent from its 52-week low of Rs 220.80 per share and investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.