A multibagger capital goods stock hits the 5 percent upper circuit after bagging an order worth Rs 370 crore from Power Grid Corporation of India. The stock has delivered a multibagger return of 746 percent over one year.
With a market capitalization of Rs 23,172.21 crore, GE T&D India started its trading session on a higher note of Rs 913 a piece, hitting a 5 percent upper circuit from the previous close of Rs 869.55 a piece to an intraday high of Rs 913 a piece.
GE T&D India has secured an order worth approximately Rs 370 crore from the Power Grid Corporation of India (PGCIL) for supplying the 765 kV shunt reactors for transmission projects in India.
According to the company’s exchange filing, the project involves the integration of renewable energy into the national electricity grid and aims to enhance electricity transmission in Rajasthan and Karnataka.
As of the December quarter, the company has a net order worth Rs 2,368.1 crore, with Rs 1,290 crore from domestic sources and Rs 1,078.01 crore from exports.
The company operates in the power transmission and distribution business and currently has five manufacturing sites in India.
Looking at the prime business indicators on a yearly basis, viz., revenue from operations increased 8 percent from Rs 777 crore in Q3 FY23 to Rs 839 crore in Q3 FY24. Similarly, net profits increased by 880 percent from Rs 5 crore to Rs 49 crore during the same period.
Sequentially, on a quarterly basis, the revenue from operations increased by 20 percent, from Rs 698 crore in Q2 FY24 to Rs 839 crore in Q3 FY24. Similarly, net profits increased by 32 percent from Rs 37 crore to Rs 49 crore during the same period.
Looking at the key financial metrics, the return on equity stands at 4.83 percent and return on capital employed stands at 11.78 percent in twelve trailing months (TTM)
GE T&D India is an Indian-based company engaged in power transmission and distribution services. The company offers a wide variety of solutions for connecting and evacuating power from generation sources to the grid, enabling utilities to meet the rising demand.
Written By Praveen R
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