The shares of the small-cap stock jumped 9 percent after the company received a letter of intent from NTPC GE Power Services Pvt. Limited worth Rs 243.46 crore.
With a market capitalization of Rs 2,757.67 crore, the shares of GE Power India Ltd were trading in green at Rs 408.35 per share, increasing around 4 percent as compared to the previous closing price of Rs 393.10 apiece.
According to the company filing, GE Power India Ltd received a letter of intent from NTPC GE Power Services Pvt. Limited worth Rs 243.46 crore for renovation and modernization of LMZ steam turbine of Wanakbori TPS Unit No. 1 (210MW) & Unit No. 2 (210 MW) for Heat Rate (Efficiency) improvement & life extension.
Examining to the company’s financial performance, revenue magnified by 13.4 percent from Rs 344.48 crore in Q4FY23 to Rs 390.76 crore in Q4FY24, but during the same time frame, net loss turned into a profit from Rs 129.7 crore to Rs 25.94 crore.
According to investor presentations, the company has a backlog of orders of Rs 3,437 crores. In Q3 FY23, the company got 62% of orders from private organizations and 38% from public enterprises. By Q3FY24, the ratio had shifted to 60:40, with increased orders from government-owned firms.
GE Power successfully repaired three 200MW steam turbines at NTPC-Ramagundam, meeting efficiency standards. This enables the power plant to operate more efficiently, decreasing coal use, costs per MW, and CO2 emissions. These attributes make coal power more reliable, cost-effective, and sustainable.
The stock has delivered a return of 85.11 percent in the last six months and a multi-bagger return of 146.50 percent in a year. An individual investment of Rs. 1 lakh in the company would be worth Rs. 2.46 lakh in a year.
GE Power India Limited is an India-based firm that specializes in the rehabilitation and upgrading of existing power plants, with a strong concentration on thermal power plants. It has also expanded into the delivery, installation, following operation, and maintenance of thermal power Plants.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
