GE Vernova T&D Hits 10% Upper Circuit as Q4 Profit Nearly Triples

GE Vernova T&D shares rallied on Monday, hitting the 10% upper circuit after reporting solid Q4 figures. The power transmission and distribution company reported a profit after tax (PAT) of Rs 1,865 million, marking a three-fold rise from Rs 663 million recorded in the corresponding quarter of the previous fiscal.

The revenue figure stood at Rs 11.5 billion, against Rs 9.1 billion recorded in the same period of the previous year. Order booking remained strong at Rs 29.9 billion, as per the exchange filing.

At 11:55 am, the shares of the company were trading at Rs 2,073.60 price level, up by 10% on the National Stock Exchange. The company's Ebitda figure stood at Rs 2,521 million, compared to Rs 1,110 million recorded in the corresponding period of the previous fiscal year.

For the entire financial year ending March 31, 2025, GE Vernova T&D's revenue figure stood at Rs 42.9 billion, as against 31.7 billion recorded in FY24, marking a double-digit surge of Rs 35%. "GVTD’s ordering outperformance continued, with 4QFY25 inflows at Rs29.9 billion, up 124% year-on-year. This was driven by continued strength in base ordering due to industry tailwinds and a large order from Power Grid Corporation of India Ltd. (PGCIL) to supply 765kV power transformers and shunt reactors," Brokerage firm Nomura said in its report.

GE Vernova T&D share outlook

So far this year, the shares of the company have experienced a minor rise of 1.21% on the NSE. However, in the last 3 months alone, GE Vernova T&D shares have witnessed a double-digit rise of over 50%. On an annual basis, the stock has risen more than 18% on the NSE.

"We like GVTD’s keen focus on increasing localisation via technology absorption and capacity addition. We raise earnings for FY26-27F by 2-4% to account for potential gross margin outperformance and estimate an earnings CAGR of 36% over FY25-27F," Nomura stated in its report.

The brokerage firm has reaffirmed its 'Buy' rating on the stock at a revised target price of Rs 2,600.