Small-cap electrical equipment manufacturer shares hit 5 percent upper circuit in the day’s trade after securing orders worth approx ~ Rs. 500 Crores from Power Grid Corporation for the supply of power transformers and shunt reactors for its transmission projects.
At the day’s closing, the shares of GE T&D India were trading at Rs. 395.25 up 4.99 percent from its previous price and its market capitalization is Rs. 10,133 Crores.
As per the company’s filing, GE T&D India has secured orders from Power Grid Corporation of India (PGCIL) worth ~Rs. 500 Crores for the supply of 765 kv power transformers and shunt reactors for its various transmission system projects in India, which is aimed to facilitate the integration of renewable energy and enhance electricity transmission within the country.
In response to winning this order, Sandeep Zanzaria, MD & CEO of GE T&D India , said, “We are delighted to support PGCIL in the modernization of India’s grid infrastructure through the supply of locally manufactured equipment in alignment with the government’s Make in India initiative.
To date, we have successfully manufactured and supplied over 600 transformers and reactors of 765 kV class from our Power Transformer facility in Vadodara, Gujarat, to customers in India and abroad, solidifying our position as a leading manufacturer of such equipment in India.”
The company’s revenue declined 9.55 percent from Rs. 3,065.95 Crores in FY22 to Rs. 2,773.22 Crores in FY23, accompanied by decreasing losses of Rs. 49.62 Crores to Rs. 1.49 Crores.
It has reported a return on equity (ROE) of -0.13 percent and a return on capital employed (ROCE) of 6.59 percent, it is making decent returns on its capital employed but is not making any returns on its equity due to the losses generated which is gradually decreasing.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold 75 percent stake, the Domestic Institutional Investors hold 16.18 percent and the Foreign Institutional Investors (FII) hold 0.59 percent.
GE T&D India is one of the leading player in the Transmission & Distribution of power, with a product portfolio ranging from Medium Voltage to Ultra High Voltage for Power Generation, Transmission and Distribution, Industry and Infrastructure markets.
Written by: Bharath K.S
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