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GE Power India reported strong Q4 FY26 results with revenue of INR 316 crores (up 19% YoY) and full-year revenue of INR 1,269 crores (up 21%). Profit before tax from continuing operations surged to INR 340 crores from INR 22 crores in FY25, boosted by one-off items including BHEL ECL reversal of INR 116 crores and Solapur settlements. Excluding one-offs, underlying EBITDA stood at 11% for the full year. Core services orders grew 32% YoY, reaching a target market size of INR 3,500-4,000 crores where the company holds ~18% market share. The order backlog declined to INR 1,628 crores (from INR 2,662 crores) mainly due to termination of two FGD EP contracts. The company recommended dividend of INR 7 per share (70% face value) - highest in 10 years. Key strategic actions include completed BHEL settlement (INR 343 crores received), demerger of Durgapur manufacturing facility to JSW Energy on track for closure within 12 months, and expansion into 7 international markets. The net cash position stands at INR 880 crores, with management evaluating deployment for growth.