The shares of this small-cap firm engaged in the business of Infrastructure developers and operators saw its shares surge by 3 percent to an intra-day high of Rs 488 per share after it received an order worth Rs 348 crores from a domestic entity.
Share price movement: With a market capitalization of Rs 3,165.07 crores, the shares of GE Power India Limited closed At Rs 479 apiece. The stocks of this firm generated a multi-bagger return of 200 percent over the past year and 99 percent over the past 6 months.
What happened:
According to GE Power India Limited’s stock exchange filings, the firm announced that they received an order worth Rs 348 crores from NTPC GE Power Services Private Limited for the Renovation and modernization of Steam Turbines of NTPC Vindhyachal TPS in Units 1-3, each with a capacity of 210 megawatts to improve the heat rate efficiency of the turbines and to extend the operational lifespan of the same.
It is also responsible for all the critical supplies including design &engineering, testing, and commissioning of systems. The time period by which the order needs to be executed is 44 months.
Financials:
Analyzing 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.
Working capital:
As per the latest investor presentation, the working capital of GE Power India Limited stood at a negative Rs 70.87 crores in FY23-24 compared to a working capital of Rs 100.23 crores in FY22-23.
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 June 2024, GE Power India Limited’s shareholding pattern stood at 68.58 percent for promoters, 28.04 percent for the public, 0.39 percent for foreign institutional investors, and 2.99 percent for domestic institutional investors.
About the Company:
Incorporated in 1999 and headquartered in Vijayawada, GE Power India Limited 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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