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The share price of this company engaged in the business of Infrastructure developers and operators saw its shares surge by upto 16 percent to an all-time 52-week high of Rs 620 as of today after receiving an order from Mangalore Refinery and Petrochemicals Limited.

Share Price Movement

With a market capitalization of Rs 4,018.19 crores, the shares of GE Power India Limited surged by 11.40 percent and closed at Rs 597.70 per share as on Wednesday. The shares of this company generated multi-bagger returns of 273.91 percent over the past year and 126.13 percent over the past 6 months.

What Happened

According to GE Power India Limited’s stock exchange filings, the firm has received a purchase order worth Rs 7.66 crores from Mangalore Refinery and Petrochemicals Limited for the supply of Main Turbine Spares. The time period by which the order needs to be executed is 18 months.

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Financials

Reviewing the financials of GE Power Limited on a year-on-year basis, the revenues declined by 9.5 percent from Rs 1,796 crores in FY23 to Rs 1,625 crores in FY24. In the same time frame, the net losses of the firm declined by Rs 441 crores to Rs 171 crores. The debt-to-equity ratio of GE Power Limited as of March 2024 stood at 1.48 times. 

Orders

The total value of orders increased by 14.9 percent, rising from Rs 228 crores in Q4FY23 to Rs 262 crores in Q4FY24. As of FY24 the company currently has an order book of Rs 1,318 Crores

Shareholding Pattern

As of March 2024, the firm’s shareholding pattern stood at 68.58 percent for promoters, 27.27 percent for the public, 0.25 percent for foreign institutional investors, and 3.50 percent for domestic institutional investors

About the Company

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. It has manufacturing facilities at Durgapur, West Bengal, and Noida, and several sales offices and workshops present countywide.

Written By Zahal

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