GE T&D India Limited

NSE: GET&D · Heavy Electrical Equipment

Snapshot

Unlock GE T&D India Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

GE T&D India Limited is a leading player in the power transmission and distribution sector, providing a comprehensive range of equipment, turnkey solutions, and digital software. The company specialises in high-voltage substations, power electronics, and grid automation technologies to support infrastructure development.

Business Model

The company generates revenue through the design, manufacture, and installation of electrical infrastructure equipment alongside long-term maintenance and asset management services. It also provides digital software solutions and consulting services for grid optimisation and renewable energy integration.

Management Commentary

Management focuses on leveraging advanced technology, such as GE G3 green gas and digital substation solutions, to modernise power grids. The company aims to maintain its market position by providing end-to-end engineering and construction services for complex transmission projects.

Growth Outlook

Growth is driven by the increasing demand for grid modernisation, renewable energy integration, and the expansion of high-voltage transmission infrastructure in India. The company is well-positioned to benefit from the digital transformation of power utilities and the shift towards sustainable energy solutions.

Key Risks

  • Project Execution Risk. Delays in large-scale turnkey infrastructure projects can lead to cost overruns and impact profitability.
  • Regulatory and Policy Risk. Changes in government power sector policies and capital expenditure cycles significantly influence order inflows.
  • Supply Chain Volatility. Fluctuations in the cost of raw materials like copper, steel, and aluminium can compress operating margins.
  • Competitive Intensity. The heavy electrical equipment market is highly competitive, putting pressure on pricing and contract bidding margins.

Price

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Key Metrics

REVENUE

₹6,206 Cr

TTM · standalone

+44.6%YoY

NET PROFIT

₹1,233 Cr

TTM · standalone

+102.7%YoY

EPS

₹48.17

TTM · standalone

+102.8%YoY

RETURN ON EQUITY

61.6%

TTM · standalone

+17.4 ppYoY

RETURN ON CAPITAL EMPLOYED

78.7%

TTM · standalone

+21.9 ppYoY

EV/EBITDA

21.5x

Q4 FY26 · standalone

21.5 vs -69.4x5Y avg

EBITDA MARGIN

28.6%

TTM · standalone

+8.1 ppYoY

NET PROFIT MARGIN

21.5%

Q4 FY26 · standalone

+5.3 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · standalone

+0.00xYoY

Peers · Heavy Electrical Equipment

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
GE T&D India LimitedGET&D
39,74621.5444.6%28.6%61.6%78.7%
Tube Investments of India Ltd.TIINDIA
50,21889.2521.4117.4%11.6%18.4%16.2%-0.2%

As of Q4 FY26

Financials