Small-cap stock engaged in providing EPC services for thermal and hydropower plants jumped 2 percent in the day’s trade after it received 2 orders from NTPC Limited and Bokaro Power Supply Company(P) Limited.
At 10:41 a.m the shares of Ge Power India Limited were trading at Rs. 226.55, up 1.18 percent from its previous day’s close price of Rs. 223.90 and its market capitalization is Rs. 1,528 Crores.
Ge Power Limited has received an order worth Rs. 10.47 Crores from NTPC Limited for the Supply of Generator Spares for Carrying out class-B Inspection of Unit 1 GE make 660 MW Generator at NTPC Solapur, the order has to be delivered within 40 weeks.
It has received another order worth Rs. 9.91 Crores from Bokaro Power Supply Company (P) Ltd (BPSCL) for the supply of spares at BPSCL which has to be delivered within 12 months.
The company’s revenue from operations declined 31.47 percent from Rs. 2,620.44 Crores in FY22 to Rs. 1,795.81 Crores in FY23, accompanied by an increasing loss of Rs. 288.82 Crores to Rs. 440.58 Crores.
Ge Power India Limited has faced losses in the last two years due to a decline in sales, lower orders in previous quarters, and project delays. As of Q2FY24, it has an order backlog of Rs. 3,699 Crores.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold a 68.58 percent stake, the Domestic Institutional Investors hold 5.66 percent and the Foreign Institutional Investors (FII) hold 0.23 percent.
Ge Power India Limited is one of the leading players engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydropower plants.
Written by: Bharath K.S
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