MarketFriction

GE Power India Ltd

NSE GVPIL · BSE 532309 · Heavy Electrical Equipment
₹679.50 +0.16%
NSE close2026-10-01
52 week range270.90 - 1,084.00
Market cap₹4,598 Cr.
P/E12.4
Price band 5% Delivery 46.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales241294247246217317266287281386316309
Expenses267292262265207313287287253261210264
Operating Profit-262-16-18104-2102812510745
OPM %-11%0.8%-6%-7%4.7%1.2%-8%0.0%10%32%34%14%
Other Income-1611642270-152234416-421620
Interest169181094266645
Depreciation444434333333
Profit before tax-62026-1067-1919735357311557
Tax %0%0%0%0%0%0%17%0%8%2%2%5%
Net Profit-62026-1067-1916435327211354
EPS in Rs-9.200.063.86-1.429.95-2.7624.435.164.8110.7616.847.99
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,7111,9931,3381,9032,4463,3432,6201,7961,0391,0471,2691,291
Expenses1,8861,9411,2031,7122,2943,1792,7642,1081,1841,0381,000987
Operating Profit-17653135191152164-144-313-1459269304
OPM %-10%2.6%10%10%6%4.9%-5%-17%-14%0.9%21%24%
Other Income18492-94015766-58160252349
Interest316032546981977771443221
Depreciation726051316650442315141212
Profit before tax-94264214617399-291-331-171203259281
Tax %-39%110%37%48%51%29%-1%33%0%0%2%
Net Profit-58-227758570-289-441-171203253272
EPS in Rs-8.63-0.373.9611.2212.5810.48-42.96-65.54-25.4930.2037.5840.40
Dividend Payout %0%-820%76%54%16%10%0%0%0%0%19%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-3%-18%-11%19%
Compounded Profit Growth21%24%38%550%
Stock Price CAGR2%18%60%112%
Return on Equity0%-11%44%62%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital676767676767676767676767
Reserves9117587607618158499046091652249515
Borrowings000001374533883591632918
Other Liabilities2,0902,7623,0393,0852,6772,3162,5692,3942,2722,3491,6671,538
Total Liabilities3,0693,5883,8673,9133,5593,3703,9933,4582,8642,5812,0122,138
Fixed Assets396374350271151307283133110986340
CWIP5039289125221443
Investments03333331013193046
Other Assets2,6223,1723,4863,6303,3943,0563,7053,3122,7402,4611,9152,049
Total Assets3,0693,5883,8673,9133,5593,3703,9933,4582,8642,5812,0122,138
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1896243048-241-563-4784990182379469
Cash from Investing Activity367-182-91-70022391763-56-356-436
Cash from Financing Activity-111-84-2-28-39-86254-79-48-226-128-47
Net Cash Flow445-205337-680-57267-160-3548-47308-14
Free Cash Flow1923540636-229-465-4734487180376467
CFO/OP163%-44%816%42%-81%-314%-268%-45%-24%-110%3,772%189%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days166231155259188198242334397597409219
Inventory Days24919222864970673720369795107
Days Payable1564289191,814284255201263321802567395
Cash Conversion Cycle259-5-536-907-26107891112-108-63-69
Working Capital Days-38-53-120-187-64264430-25-78-8315
ROCE %24%-7%17%26%34%22%17%-4%-29%-16%27%82%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters68.58%68.58%68.58%68.58%68.58%68.58%68.58%68.58%68.58%68.58%68.58%68.58%
FIIs0.23%0.11%0.25%0.39%0.43%0.85%0.41%0.56%0.11%0.15%1.26%1.17%
DIIs5.27%3.87%3.50%2.99%2.80%2.80%2.30%0.46%0.40%0.43%1.13%1.05%
Government0.39%0.39%0.39%0.39%0.39%0.39%0.39%0.39%0.39%0.39%0.39%0.39%
Public25.53%27.04%27.27%27.65%27.79%27.39%28.32%30.01%30.51%30.45%28.65%28.81%
No. of Shareholders59,30461,26261,20163,52470,29971,74771,86873,48070,32167,50067,30069,908

Fundamentals

Market Cap₹ 4,598 Cr.
Current Price₹ 684
Stock P/E12.4
Book Value₹ 86.6
ROCE82.0 %
ROE62.2 %
Dividend Yield1.02 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)19%
Compounded Profit Growth (TTM)550%
Consolidated figures.
Valuation
Market capRs 4,568 Cr
Enterprise valueRs 4,155 Cr
P/E (TTM)16.82x
Price to book7.84x
Price to sales3.54x
EV / EBITDA13.25x
EV / EBIT13.78x
EV / sales3.22x
Price to cash flow9.73x
Earnings yield5.95%
Dividend yield1.03%
P/E, 3-year average9.25x
P/B, 3-year average11.89x
P/E, 5-year average9.25x
P/B, 5-year average8.01x
Profitability
Operating margin (excl. other income)21.20%
Operating margin (incl. other income)23.84%
EBITDA margin24.28%
Pre-tax margin21.73%
Net profit margin21.04%
Net margin, latest quarter17.41%
ROE56.19%
ROCE61.41%
ROA12.17%
ROE, 3-year average15.93%
ROCE, 3-year average40.95%
ROA, 3-year average4.91%
ROE, 5-year average-16.85%
ROCE, 5-year average15.31%
ROA, 5-year average-1.39%
ROIC (approx.)173.35%
Tax rate2.41%
Other income / net worth5.75%
Growth
Sales growth (latest year)21.23%
Profit growth (latest year)24.44%
Sales CAGR, 3 years-10.92%
Sales CAGR, 5 years-17.61%
Profit CAGR, 5 years29.09%
Sales growth QoQ-2.44%
Profit growth QoQ-52.54%
Sales growth YoY (latest quarter)7.61%
Profit growth YoY (latest quarter)54.75%
Per share
EPS (TTM)Rs 40.40
EPS (latest year)Rs 37.58
EPS (latest quarter)Rs 7.99
EPS, 3-year averageRs 14.10
EPS, 5-year averageRs -13.24
Book value per shareRs 86.65
Sales per shareRs 192.07
Cash flow per shareRs 69.82
Free cash flow per shareRs 69.47
Dividend per share (latest year)Rs 7.00
Dividend per share, 3-year averageRs 7.00
Dividend per share, 5-year averageRs 7.00
Dividends
Dividend payout18.63%
Dividend payout, 3-year average18.63%
Dividend payout, 5-year average18.63%
Efficiency
Asset turnover0.59x
Fixed asset turnover31.58x
Inventory turnover5.46x
Inventory days67 days
Debtor days219 days
Debtors turnover1.67x
Creditor days395 days
Cash conversion cycle-69 days
Working capital days15 days
Leverage
Total debtRs 18 Cr
Cash and bankRs 430 Cr
Net debtRs -413 Cr
Debt to equity0.03x
Net debt / EBITDA-1.32x
Interest coverage14.47x
Current ratio (filing 2026-03-31)1.34x
Quick ratio (filing 2026-03-31)1.23x
Trade payables (filing 2026-03-31)Rs 553 Cr
Owners' fund to total sources27.24%
Debt to assets0.82%
Cash flow
Cash from Operating Activity (latest year)Rs 469 Cr
Cash from Investing Activity (latest year)Rs -436 Cr
Cash from Financing Activity (latest year)Rs -47 Cr
Net Cash Flow (latest year)Rs -14 Cr
Free cash flow (latest year)Rs 467 Cr
FCFE (approx.: FCF + change in debt)Rs 456 Cr
Sales to cash flow2.70x
Statement figures
Net sales (TTM)Rs 1,291 Cr
Net sales (latest year)Rs 1,269 Cr
Sales (latest quarter)Rs 309 Cr
Operating profit excl. other income (latest year)Rs 269 Cr
Operating profit (latest quarter)Rs 45 Cr
Other income (TTM)Rs 9 Cr
EBITDA (TTM)Rs 314 Cr
PBDT (TTM)Rs 293 Cr
Profit before tax (TTM)Rs 281 Cr
Tax (latest year)Rs 6 Cr
Net profit (TTM)Rs 272 Cr
Net profit (latest year)Rs 253 Cr
Net profit (latest quarter)Rs 54 Cr
Depreciation (TTM)Rs 12 Cr
Depreciation (latest quarter)Rs 3 Cr
Interest (TTM)Rs 21 Cr
Cost of goods sold (latest year)Rs 817 Cr
Total expenditure (latest year)Rs 1,000 Cr
Total income (latest year)Rs 1,303 Cr
Share capitalRs 67 Cr
ReservesRs 515 Cr
Shareholders' fundsRs 583 Cr
Total assetsRs 2,138 Cr
Net blockRs 40 Cr
Capital work in progressRs 3 Cr
InvestmentsRs 46 Cr
ReceivablesRs 762 Cr
InventoryRs 150 Cr
Other liabilitiesRs 1,538 Cr
Shares outstanding (crore)6.72
Ownership
Promoter holding68.58% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 16.8 is at the 26th percentile of its own 5.8-year range (median 24.4, low 8.3, high 228.8).
P/B 7.84 is at the 81th percentile (median 5.86).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGVPILNifty 50Difference
1 week+3.0%-2.8% +5.8 pts
1 month+9.1%-6.8% +15.9 pts
3 months-22.2%-7.6% -14.6 pts
6 months+76.9%+0.4% +76.5 pts
1 year+102.2%-9.9% +112.1 pts
2 years+66.9%-13.6% +80.5 pts
3 years+304.8%+14.2% +290.7 pts
5 years+127.0%+27.9% +99.1 pts
1 mutual fund schemes hold about ₹5 Cr. Over three months 0 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
JM Small Cap Fund0.51%5 -32%

Red flags

F-score 8 of 8
lookInventory outrunning sales Inventory grew 70% vs sales +21% in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹309 Cr +7.7% vs Jun 2025. Net profit ₹54 Cr +54.3%.
Against our estimate for Jun 2026: sales -10.5%, profit +1.4% in line. Our estimate for Sep 2026: sales Rs 318 Cr, profit Rs 57 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Rs 7 Per Share
2024-07-16Annual General Meeting
2023-08-21Annual General Meeting
2022-08-22Annual General Meeting
2021-08-02 Annual General Meeting/Dividend - Re 1 Per Share
2020-09-02 Annual General Meeting/Dividend - Rs 2 Per Share
2019-07-15 Annual General Meeting/Dividend - Rs 6 Per Share
2018-07-12 Annual General Meeting/Dividend- Rs 3 Per Share
2017-07-21 Dividend-Rs 3 Per Share
2016-07-21 Annual General Meeting
2015-07-14Annual General Meeting/Dividend - Rs 10/- Per Share
2014-07-17Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 4/- Per Share
2013-07-19Annual General Meeting And Dividend Rs.10/- Per Share
2012-07-17Annual General Meeting/Dividend Rs 10 Per Share
2011-06-29Annual General Meeting And Dividend Rs.10/- Per Share
2010-07-09Dividend-Rs.10/- Per Share
2009-07-13Agm/Div-Rs.10/- Per Share
2008-07-15Agm/Div-Rs.8 Per Share
2007-07-13Agm/Dividend-100%
2006-07-14Agm/Div-Rs.4/- Per Sh
DateTypeWhat it says
2026-10-01General UpdatesThe receipt of an Order passed by the Honble National Company Law Tribunal, Mumbai Bench sanctioning the Scheme of Arrangement
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Trade dateShares sold short
2026-09-29401
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2020-02-13NCLATNew Engineering Works VS NTPC GE Power Services Pvt Ltd.
2020-02-10CESTATGE POWER INDIA LTD ---VS.--- COMMISSIONER, SERVICE TAX-DELHI
2020-01-24NCLATNew Engineering Works VS NTPC GE Power Services Pvt Ltd.
2019-12-18CESTATGE POWER INDIA LTD ---VS.--- COMMISSIONER, SERVICE TAX-DELHI
2019-08-14CESTATGE POWER INDIA LTD ---VS.--- SERVICE TAX - DELHI
2019-04-12CESTATGE POWER INDIA LTD ---VS.--- SERVICE TAX - DELHI
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Close to Close price movement greater than 100perc in previous 365 daysHigh low price variation greater than 100perc in previous 6 monthsHigh low price variation greater than 300perc in previous 365 Days

Quick answers

What is the market cap of GE Power India Ltd?

GE Power India Ltd (GVPIL) has a market capitalisation of Rs 4,598 Cr. at the 2026-10-01 close.

What is the P/E ratio of GE Power India Ltd?

GE Power India Ltd trades at a P/E of 12.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were GE Power India Ltd's latest quarterly results?

In the Jun 2026 quarter, GE Power India Ltd sales was Rs 309 Cr (+7.7% vs Jun 2025) and net profit was Rs 54 Cr.

What is the 52-week high and low of GE Power India Ltd?

The 52-week high is Rs 1,084.00 and the 52-week low is Rs 270.90.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03