GE Vernova T&D
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
GE Vernova T&D India Limited is strategically positioned to leverage India's energy transition, with management emphasizing a robust order backlog and a focus on high-value projects. Recent commentary highlights the company's commitment to balancing volume expansion with margin-accretive initiatives, particularly in the HVDC and grid automation segments. Despite facing short-term execution challenges and raw material cost pressures, the long-term outlook remains positive, supported by government investments in grid infrastructure and a growing demand for renewable energy solutions. Vista's financial outlook anticipates moderate revenue growth, stable margins, and a fair valuation, with an expected upside of 17.1%. The company's proactive capacity expansion and localization efforts are expected to enhance its competitive position, while potential risks include supply chain volatility and execution delays. Over the next 12-24 months, key opportunities lie in the expanding data center market and government-led infrastructure projects, while headwinds may arise from competitive pressures and economic fluctuations
Why We Like This Stock
- Strong order backlog of INR 214.6 billion provides multi-year revenue visibility
- Strategic investments in capacity expansion and localization enhance competitive positioning
- Government investments in grid infrastructure and rising demand for renewable energy solutions support long-term growth
Things To Watch Out For
- Short-term execution risks and margin pressures due to raw material cost inflation
- Potential delays in large-scale export and data center projects could impact revenue growth
- Intensifying competition from international players may pressure domestic market share
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 3,168 | 4,292 | 6,206 | 6,641 | 8,172 |
| Profit Before Tax (Cr.) | 263 | 820 | 1,714 | 1,737 | 2,165 |
| PBT Margin | 8.3% | 19.1% | 27.6% | 26.2% | 26.5% |
| Net Profit (Cr.) | 217 | 592 | 1,242 | 1,264 | 1,575 |
| Earnings Per Share | 8.5 | 23.1 | 48.5 | 49.4 | 61.5 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| Citigroup | ▲ Buy | 5,400 | 08-Sep-2026 |
| Emkay Global | ▲ Buy | 5,300 | 08-Sep-2026 |
| Nomura | ▲ Buy | 6,000 | 08-Sep-2026 |
| Macguire | ▲ Buy | 5,470 | 23-Aug-2026 |
| IDBI Capital | ▲ Buy | 5,214 | 11-Aug-2026 |
| JPMorgan | ▲ Overweight | 5,200 | 10-Aug-2026 |
| Jeffries | ► Hold | 4,850 | 10-Aug-2026 |
| Motilal Oswal | ▲ Buy | 5,100 | 10-Aug-2026 |
| Moneycontrol | ▲ Overweight | nan | 17-Jun-2026 |
| ICICI Securities | ▲ Buy | 5,025 | 20-May-2026 |
Company Overview
Show Company Profile
GE Vernova T&D India Limited engages in power transmission and distribution business in India and internationally. It offers grid solutions for generation, transmission, distribution, and industries and infrastructures, such as HVDC/FACTS, AC substations solution and services for system integration; HV/MV equipment, including circuit breakers, disconnectors, instrument transformers, power transformers, capacitors, and reactors; and automation protection comprising digital substations, asset performance and energy management. The company also provides power conversion and storage for marine, oil and gas, power, hybrid power evacuation, distribution, and electro-intensive industries consisting of motors, generators, and induction and synchronous rotating machineries; low-voltage and medium-voltage power electronics drives; and automation, controls, and digital, which include microgrids, asset performance management, and energy management systems. In addition, it offers FlexInverter, a solar inverter; FlexReservoir, a battery system; FlexIQ, plantification, and asset performance management digital solutions; converters, switchgear, and protection and control solutions and services; and propulsion, generation, distribution, and power quality solutions and services. The company was formerly known as GE T&D India Limited and changed its name to GE Vernova T&D India Limited in October 2024. The company was incorporated in 1957 and is based in Noida, India. GE Vernova T&D India Limited operates as a subsidiary of Grid Equipments Private Limited.