Analyst Presentation
GVT&D · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
GE Vernova T&D India reported strong Q4 and full-year FY26 results with revenue growing 37% year-on-year to ₹147.8 billion. EBITDA more than doubled from ₹42.9 billion to ₹62.1 billion, with EBITDA margin expanding significantly from 8.2% in FY25 to 17.1% in FY26. Q4 FY26 alone saw EBITDA margin at 16.4% versus 11.5% in Q4 FY25. Revenue mix shows Products contributing 76% (₹163.4 billion), Services 22% (₹47.9 billion), with Domestic sales dominating at 92% of total revenue. The presentation highlighted key project executions including commissioning of 765kV shunt reactors, GIS bays, and power transformers across multiple PGCIL and NTPC sites.
Significant margin expansion signals improving operational efficiency and likely positive sentiment for the stock, though heavy reliance on domestic orders (92%) leaves exposure to domestic policy changes.