The shares of this leading power transmission and distribution business hit a 5% lower circuit during thursday trading session after the promoters planned to sell 11.7% of the paid-up equity share capital of the Company.
Stock Price Variations:
With a market capitalization of Rs. 43,205 Crores, the shares of GE T&D India Ltd touched its lower price band of 5% at a price of Rs 1,606.85 on National Stock Exchange on Thursday.
Reason for fall:
According to exchange filings, the promoters, Grid Equipments Private Limited and GE Grid Alliance B.V., planned to offload 11.7% stake in GE T&D India Ltd, amounting to 3 crore equity shares with a face value of ₹2 each, priced at ₹1,400.00 per share
The offer for sale will take place over 2 days, On September 19, 2024 for Non-Retail Investors and on September 20, 2024 for retail investors.Following the transfer, the promoters will still remain the majority shareholders, retaining a 63.3% stake in the company.
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Financial Performance:
For Q1 FY25 the company reported a net profit of Rs. 134.54 Crores compared to Rs.28.24 Crores in Q1 FY24 and the revenue from operations increased to Rs. 958.34 Crores from Rs. 717.57 Crores in the same period.
The shares of GE T&D India Ltd has shown a growth of 90.08% in the last 6 months and a multibagger return of 291% over the last one year.
Recent Orders received:
In September the company received an order to Supply and Supervision of High Voltage Products to Grid Solutions SAS, France vaulting 100 Million Euros and an order worth 55 Million Euros from Grid Solutions Middle East FZE, Dubai for Supply and Supervision of High Voltage Products.
In August GE T&D entered into a contract with Power Grid Corporation of India Limited for supply, installation, testing, commissioning and maintenance of SCADA/EMS Control Centers at Rs. 305.00 Crores.
About the company:
GE T&D is the listed entity of GE’s Grid Solutions business in India. The company is a leading player in the power transmission and distribution business, with 5 manufacturing sites and offers products ranging from medium voltage to ultra-high voltage (1200 kV) for the power generation, transmission and distribution industry.
Approximately 69% of GE T&D’s revenue for Q1 FY25 was generated from domestic sales, while the remaining 31% came from exports. Additionally, around 81% of the orders received in Q1 FY25 were from domestic markets, with the remaining 19% coming from exports.
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Written By: Joseph Pv
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