Synopsis: A small-cap company’s shares are in focus in today’s trading session after announcing Q2 results.
A small-cap company that is engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydro power plants, is in the spotlight today after posting Q2FY26 results.
With a market capitalization of Rs. 2,229.60 crore, the shares of GE Power India Limited were trading at Rs. 332.35, up by 10.67 percent from its previous closing price of Rs. 300.30. In today’s trading session it has touched an intraday high of Rs. 339, implying an upside of 12.89 percent from previous close price.
Q2FY26 Results
GE Power India Limited reported Rs. 280.52 crore in revenue for the second quarter of FY26, a 29.06 percent increase over the Rs. 217.42 crore for the same period in FY25. It decreased by 2.21 percent as compared to Rs. 286.85 crore in Q1 FY26.
The company’s EBITDA for Q2 FY26 stood at Rs. 27.95 crore, an increase by 174 percent from Rs. 10.19 crore in Q2 FY25.
The consolidated net profit for the second quarter of FY26 was Rs. 32.36 crore, which was 6.8 percent lower as compared to Rs. 34.72 crore reported in the previous quarter and decreased by 51.6 percent from Rs. 66.87 crore in Q2 FY25. Profit decline was also reflected in earnings per share (EPS), which decreased to approximately Rs. 4.81 in Q2 FY26 from Rs. 9.95 in Q2 FY25.
The company reported a 29 percent year-on-year increase in revenue from Q2 FY25 to Q2 FY26, but its profit declined by 52 percent during the same period because Q2 FY25 included exceptional gains of Rs. 41.6 crore, whereas Q2 FY26 recorded an exceptional loss of Rs. 12.78 crore.
The order backlog for the quarter stood at Rs. 1,825 crore, 28.7 percent lower than Rs. 2,559.7 crore in the quarter ended 30 September 2024, mainly due to the termination of two FGD EP contracts, Jaypee Bina and Nigrie, which together worth Rs. 775 crore.
Management View
According to Managing Director Puneet Bhatla, GE Power India Limited’s strategic focus on Core Services is delivering strong results, reflected in a robust 45 percent quarter-on-quarter increase in orders and a notable improvement in operational profitability. He attributed this performance to disciplined execution of the FGD backlog and sustained growth initiatives within the Core Services segment.
About the company
GE Power India Limited (GEPIL), a key player in India’s power generation equipment industry, has contributed to the country’s infrastructure modernization despite economic and political challenges. With manufacturing units in Durgapur and Noida and a nationwide network of sales offices and workshops, the company offers a broad portfolio of power generation and emission-control solutions, along with services aimed at delivering sustainable, affordable and reliable electricity.
A return on equity (ROE) of about 105 percent, a return on capital employed (ROCE) of about 6.09 percent and debt to equity ratio at 0.05 demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 48.2x which is higher as compared to its industry P/E 45.2x.
Shareholding Pattern
As of September 2025, the company’s shareholding pattern shows that promoters hold 68.58 percent of the total equity, indicating strong promoter ownership. Foreign Institutional Investors (FIIs) hold 0.11 percent, while Domestic Institutional Investors (DIIs) own 0.40 percent. The government holds 0.39 percent stake in the company, the public shareholding stands at 30.51 percent, reflecting a healthy level of retail participation in the company.
Written By Akshay Sanghavi
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