On Wednesday’s trade, the share price of this power generation and transmission equipment manufacturer gained 2 percent to ₹246 per share after the company received a ₹ 10.47 crore work order from NTPC Ltd.
GE Power India Ltd belongs to the small-cap stock category, with a market capitalization of Rs 1,626 crore.
According to the company’s exchange filing, GE Power received a purchase order from NTPC Ltd for a Supply of spare parts for a 660 MW generator Overhauling at Nabinagar Super Thermal Power Station. For a contract value of ₹.10.47crores. The order is to be executed within 40 weeks.
GE Power India Ltd is engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydropower plants. It is one of the leading players in the Indian power generation equipment market.
Looking into the company’s financials, its revenues have decreased by 17 percent year on year from ₹ 428 crore in Q2FY23 to ₹ 354 crore in Q2FY24, while net losses have reduced from ₹ 113 crore to ₹ 62 crore.
The company reported a backlog order book of ₹3,699 crores at the end of Q2 2023-24. In the September quarter of FY 23-24, the company margins and revenue were impacted by cost escalations due to project delays and slower claim conversion.
The company is a subsidiary of a multinational company i.e. General Electric Company. The company manufactures and provides boilers, mills, air quality control systems, automation & control, and services for steam-powered thermal plants.
In Fiscal year 2023, EPC projects accounted for 86 percent of the company’s revenues, followed by boilers and accessories at 5.6 percent, engineering services at 7 percent, and other project items, and repair services accounted for less than a percent each.
At the time of writing this report, GE Power India shares were trading at Rs 243.30 per share, up 0.79 percent from the previous close price.
Written by Omkar Chitnis
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