The shares of the power transmission provider gained up to 5 percent after the company received two work orders worth 90 million euros for the supply and supervision of high-voltage products.
GE T&D India Ltd has a market capitalization of Rs 43,527.91 crore, the shares were trading at Rs 1,700.00 apiece, increasing around 3.56 percent as compared to the previous closing price of Rs 1,641.50 per share.
Matter explanation:-
Today, the company’s share has seen a bullish movement after GE T&D India Ltd received two work orders worth 90 million euros for the supply and supervision of high-voltage products. The first order received from Grid Solutions SAS, France worth 64 million euros, which will execute in 2 years. The second one received by Grid Solution Middle East FZE, Dubai worth 26 million euros, which will be executed in 2 years.
Financial condition:-
Examining the company’s financial performance, revenue increased by 30 percent from Rs 703 crore in Q4FY23 to Rs 914 crore in Q4FY24, but during the same time frame, net profit increased by 540 percent from a loss of Rs 15 crore to a profit of Rs 66 crore.
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Remarkable return and Order book:-
The stock has given a multi-bagger return of 183.47 percent in just six months and a 671 percent return in a year, A shareholder’s investment of Rs. 1 lakh in the firm is worth Rs. 2.47 lakh in a year.
In FY24, GE T&D India Ltd’s order book more than doubled, reaching Rs.62.7 billion from Rs.37 billion in FY23. This significant growth highlights the company’s robust performance and increased demand for its services.
As of December 31, 2023, private sector orders accounted for 72% of GE T&D India’s Rs.5,846.9 crore outstanding order book. This dominance of private sector orders underscores the company’s strong foothold in the domestic market.
Company profile:-
GE T&D is the listed entity for GE’s Grid Solutions business in India. It has been in the power transmission and distribution industry for over a century and offers a wide range of solutions for connecting and evacuating electricity from generating sources to the grid.
Written by:- Abhishek Singh
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