Transcript- GE Vernova T&D India Limited Earnings Call for Investors held on May 23, 2025
Awaiting price reaction for this filing.
GE Vernova T&D India reported strong FY25 results with revenue up 35% YoY to INR 42.9 billion and Q4 revenue up 26% YoY to INR 11.5 billion. Q4 order bookings jumped 124% YoY to INR 29.9 billion, with the order book nearly doubling to INR 126.6 billion. EBITDA margin stood at 19.1% for FY25 (21.9% in Q4), and gross margin for the year was 40.4%, which the company says it intends to sustain. PBT (before exceptional items) tripled YoY to INR 8,197 million. The company announced a strategic INR 140 crore investment for a new HVDC Thyristor/VSC Valves line in Chennai and an HVDC Controls facility in Noida, taking total FY26 capex to INR 240-250 crore. Cash position rose to INR 10.5 billion, and the Board recommended a INR 5/share dividend. Management expects 1-2 HVDC projects to be approved during the year.
Strong execution, margin expansion, and a doubling order book reinforce a positive outlook for shareholders. The INR 140 crore HVDC capacity build-out positions the company to capture upcoming domestic and export HVDC opportunities, though the capex and rising royalty outflow (INR 640 million vs INR 350 million prior year) are modest near-term drags on profitability.