The shares of the thermal and hydropower plant operator gained up to 3.2 percent after the company received new purchase orders from Mangalore Refinery and Petrochemicals Ltd worth Rs 10.1 crore.
With a market capitalization of Rs 2,279.01 crore, the shares of GE Power India Ltd were trading at Rs 340.00 per share, increasing around 0.40 percent as compared to the previous closing price of Rs 338.65 apiece.
According to the company filing, GE Power India Ltd received new purchase orders for the supply of spare parts for STG from Mangalore Refinery and Petrochemicals Ltd worth Rs 10.1 crore. The completion time for this order is 16 months.
Looking at the company’s financials, GE Power India Ltd’s sales decreased by 14% from Rs 532.66 crore in Q3FY23 to Rs 456.22 crore in Q3FY24. During the same time frame, net profit increased by 100% from a loss of Rs 139 crore to a profit of Rs 0.37 crore.
According to investor presentations, the business has a backlog of orders of Rs 3,437 crores. In Q3FY23, the business received 62% of orders from private organizations and 38% from public corporations. By Q3FY24, the ratio had switched to 60:40, with more orders coming from government-owned enterprises.
GE Power successfully repaired three 200MW steam turbines for NTPC-Ramagundam, satisfying efficiency requirements. This allows the power plant to run longer and more effectively, reducing coal use, cost per MW, and CO2 emissions. These features make coal power more dependable, cost-effective, and sustainable.
The stock has delivered a multi-bagger return of 113.08 percent in the last six months and 216.93 percent in a year. A shareholder’s investment of Rs. 1 Lakh in the company would be worth Rs. 3.16 Lakh in a year.
GE Power India Ltd offers EPC services for thermal and hydroelectric projects, focusing on essential equipment. It is a prominent participant in the Indian power-generating equipment industry.
Written by:- Abhishek Singh
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