On Wednesday’s trade, the share price of this power generation and transmission equipment manufacturer marginally gained to Rs 272.05 per share a day after the company received a Rs 10.3 crore work order from NTPC Ltd.
GE Power India Ltd belongs to the small-cap category of stock, with a market capitalization of Rs 1,796 crore.
According to the company’s exchange filing, GE Power received a purchase order from NTPC Ltd for a Supply of spare parts and Repair of the HP Inner casing module. For a contract value of Rs.10.3 crores. The order is to be executed within 10.5 months.
GE Power India Ltd is engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydropower plants. It is one of the leading players in the Indian power generation equipment market.
Looking into the company’s financials, its revenues have decreased by 17 percent year on year from Rs 428 crore in Q2FY23 to Rs 354 crore in Q2FY24, while net losses have reduced from Rs 113 crore to Rs 62 crore.
The company revenue has declined by 17 percent due to lower orders in the first quarters of FY23-24 and project delays.GE Power India shares have gained 66 percent in the last six months and 92 percent in a year.
The company is a subsidiary of a multinational company i.e. General Electric Company. The company manufactures and provides boilers, mills, air quality control systems, automation & control, and services for steam-powered thermal plants.
In Fiscal year 2023, EPC projects accounted for 86 percent of the company’s revenues, followed by boilers and accessories at 5.6 percent, engineering services at 7 percent, and other project items, and repair services accounted for less than a percent each.
At the time of writing this report, GE Power India shares were trading at Rs 265.75 per share, down 2.28 percent from the previous close price.
Written by Omkar Chitnis
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