MarketFriction

GE Vernova T&D India Ltd

NSE GVT&D · BSE 522275 · Heavy Electrical Equipment
₹4,253.20 +1.24%
NSE close2026-10-01
52 week range2,523.20 - 5,650.00
Market cap₹1,08,554 Cr.
P/E80.4
Nifty 200Nifty 500Nifty Midcap 50Nifty Midcap 100Midcap 150Nifty Midcap SelectNifty EnergyNifty Infrastructure No price band Delivery 33.8%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6988399149581,1081,0741,1531,3301,5381,7011,6371,836
Expenses6377428037769038949009431,1421,2461,1921,375
Operating Profit6197111182205180252388396455445461
OPM %9%12%12%19%18%17%22%29%26%27%27%25%
Other Income9-4612426211619-514342
Interest773234632373
Depreciation131212121212111112121212
Profit before tax5073101180194190256390401390469487
Tax %26%32%34%25%25%25%27%25%25%25%25%25%
Net Profit374966135145143186291299291352363
EPS in Rs1.451.932.595.255.655.577.2811.3711.7011.3613.7414.18
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,3034,0524,3324,2193,1593,4523,0662,7733,1684,2926,2066,712
Expenses3,1973,9964,0573,7653,3543,2823,1552,6522,8363,4614,5004,956
Operating Profit10757275454-195171-891213328311,7061,757
OPM %3.2%1.4%6%11%-6%4.9%-2.9%4.4%10%19%28%26%
Other Income142141239495691362222622553
Interest107182106858784596141273515
Depreciation868890837866585550474647
Profit before tax56-73319335-35689-69272638201,6501,747
Tax %38%18%35%36%-15%32%-29%106%31%26%25%
Net Profit34-87209213-30360-50-11816081,2331,305
EPS in Rs1.35-3.388.158.31-11.822.36-1.94-0.067.0723.7648.1750.98
Dividend Payout %134%-53%22%22%0%0%0%0%28%21%21%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%12%31%44%
Compounded Profit Growth44%86%490%77%
Stock Price CAGR29%101%111%40%
Return on Equity16%27%42%57%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital515151515151515151515151
Reserves1,2611,1279821,1381,3771,0001,0711,0291,0221,1921,7222,639
Borrowings28050451810081599316226273423524
Other Liabilities2,9003,0903,5633,4792,6882,5032,6642,4612,3332,3002,8535,025
Total Liabilities4,4924,7725,1144,7694,1964,1544,1023,7673,6793,5844,6617,739
Fixed Assets687684656586513538494457421401379412
CWIP703325185122299114765
Investments000000000000
Other Assets3,7354,0554,4334,1653,6793,6043,5873,3023,2503,1734,2347,262
Total Assets4,4924,7725,1144,7694,1964,1544,1023,7673,6793,5844,6617,739
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity502-911881,054-355-2603118-375189041,710
Cash from Investing Activity-137-50-47-306287-30121163-172-495-509
Cash from Financing Activity-320120-131-585-114290-324-1029-259-69-147
Net Cash Flow45-2011163-182-0-122-26873391,054
Free Cash Flow424-1411421,043-362-292324-17-544898161,521
CFO/OP172%-39%373%433%-51%99%194%-35%-7%162%133%129%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days211228205152175219201186204166125128
Inventory Days292511542234136177143159119103100132
Days Payable766823805389247272275283197156146170
Cash Conversion Cycle-262-84-58-46312569621271147990
Working Capital Days5022-2-18482023132029356
ROCE %16%10%7%30%31%-14%11%-9%8%23%55%77%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters75.00%75.00%75.00%75.00%59.38%51.00%51.00%51.00%51.00%51.00%51.00%51.00%
FIIs0.59%0.69%1.20%2.04%6.82%12.04%13.04%14.49%16.15%18.46%20.39%22.89%
DIIs16.18%16.11%15.84%14.96%25.61%28.40%28.18%26.75%25.20%23.27%21.39%18.46%
Public8.23%8.20%7.96%8.00%8.19%8.55%7.77%7.74%7.66%7.26%7.22%7.65%
No. of Shareholders39,71737,44344,12159,13074,41387,00082,05490,6631,02,9341,03,2261,10,6621,38,122

Fundamentals

Market Cap₹ 1,08,554 Cr.
Current Price₹ 4,240
Stock P/E80.4
Book Value₹ 105
ROCE77.4 %
ROE57.4 %
Dividend Yield0.24 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)44%
Compounded Profit Growth (TTM)77%
Standalone figures.
Valuation
Market capRs 108,902 Cr
Enterprise valueRs 107,398 Cr
P/E (TTM)83.45x
Price to book40.48x
Price to sales16.22x
EV / EBITDA59.35x
EV / EBIT60.94x
EV / sales16.00x
Price to cash flow63.69x
Earnings yield1.20%
Dividend yield0.24%
P/E, 3-year average87.05x
P/B, 3-year average24.88x
P/E, 5-year average87.05x
P/B, 5-year average15.93x
Profitability
Operating margin (excl. other income)27.50%
Operating margin (incl. other income)27.90%
EBITDA margin26.96%
Pre-tax margin26.02%
Net profit margin19.44%
Net margin, latest quarter19.77%
ROE55.26%
ROCE74.53%
ROA19.89%
ROE, 3-year average37.08%
ROCE, 3-year average50.79%
ROA, 3-year average13.21%
ROE, 5-year average21.32%
ROCE, 5-year average31.65%
ROA, 5-year average7.67%
ROIC (approx.)111.02%
Tax rate25.24%
Other income / net worth0.93%
Growth
Sales growth (latest year)44.59%
Profit growth (latest year)102.73%
Sales CAGR, 3 years30.80%
Sales CAGR, 5 years12.45%
Profit CAGR, 5 years82.86%
Sales growth QoQ12.16%
Profit growth QoQ3.19%
Sales growth YoY (latest quarter)38.04%
Profit growth YoY (latest quarter)24.65%
Per share
EPS (TTM)Rs 50.97
EPS (latest year)Rs 48.17
EPS (latest quarter)Rs 14.18
EPS, 3-year averageRs 26.33
EPS, 5-year averageRs 15.40
Book value per shareRs 105.07
Sales per shareRs 262.15
Cash flow per shareRs 66.78
Free cash flow per shareRs 59.40
Dividend per share (latest year)Rs 10.00
Dividend per share, 3-year averageRs 5.67
Dividend per share, 5-year averageRs 5.67
Dividends
Dividend payout20.76%
Dividend payout, 3-year average23.36%
Dividend payout, 5-year average23.36%
Efficiency
Asset turnover0.80x
Fixed asset turnover15.08x
Inventory turnover2.83x
Inventory days129 days
Debtor days128 days
Debtors turnover2.86x
Creditor days170 days
Cash conversion cycle90 days
Working capital days6 days
Leverage
Total debtRs 24 Cr
Cash and bankRs 1,528 Cr
Net debtRs -1,504 Cr
Debt to equity0.01x
Net debt / EBITDA-0.83x
Interest coverage114.28x
Current ratio (filing 2026-03-31)1.33x
Quick ratio (filing 2026-03-31)1.08x
Trade payables (filing 2026-03-31)Rs 1,580 Cr
Owners' fund to total sources34.76%
Debt to assets0.31%
Cash flow
Cash from Operating Activity (latest year)Rs 1,710 Cr
Cash from Investing Activity (latest year)Rs -509 Cr
Cash from Financing Activity (latest year)Rs -147 Cr
Net Cash Flow (latest year)Rs 1,054 Cr
Free cash flow (latest year)Rs 1,521 Cr
FCFE (approx.: FCF + change in debt)Rs 1,510 Cr
Cash from ops / profit, 5 years1.57x
Sales to cash flow3.63x
Statement figures
Net sales (TTM)Rs 6,712 Cr
Net sales (latest year)Rs 6,206 Cr
Sales (latest quarter)Rs 1,836 Cr
Operating profit excl. other income (latest year)Rs 1,706 Cr
Operating profit (latest quarter)Rs 461 Cr
Other income (TTM)Rs 53 Cr
EBITDA (TTM)Rs 1,810 Cr
PBDT (TTM)Rs 1,794 Cr
Profit before tax (TTM)Rs 1,747 Cr
Tax (latest year)Rs 416 Cr
Net profit (TTM)Rs 1,305 Cr
Net profit (latest year)Rs 1,233 Cr
Net profit (latest quarter)Rs 363 Cr
Depreciation (TTM)Rs 47 Cr
Depreciation (latest quarter)Rs 12 Cr
Interest (TTM)Rs 15 Cr
Cost of goods sold (latest year)Rs 3,476 Cr
Total expenditure (latest year)Rs 4,500 Cr
Total income (latest year)Rs 6,231 Cr
Share capitalRs 51 Cr
ReservesRs 2,639 Cr
Shareholders' fundsRs 2,690 Cr
Total assetsRs 7,739 Cr
Net blockRs 412 Cr
Capital work in progressRs 65 Cr
ReceivablesRs 2,172 Cr
InventoryRs 1,228 Cr
Other liabilitiesRs 5,025 Cr
Shares outstanding (crore)25.60
Ownership
Promoter holding51.00% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 83.5 is at the 63th percentile of its own 5.4-year range (median 56.7, low 7.1, high 293.6).
P/B 40.48 is at the 87th percentile (median 6.02).
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.
PeriodGVT&DNifty 50Difference
1 week-0.8%-2.8% +2.0 pts
1 month-1.6%-6.8% +5.2 pts
3 months-3.4%-7.6% +4.2 pts
6 months+16.8%+0.4% +16.4 pts
1 year+43.9%-9.9% +53.9 pts
2 years+173.9%-13.6% +187.4 pts
3 years+860.8%+14.2% +846.7 pts
5 years+3238.5%+27.9% +3210.6 pts
336 mutual fund schemes hold about ₹19,613 Cr. Over three months 103 bought more and 217 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak Mid Cap Fund2.42%1,726 -12%
Nippon India Growth Mid Cap Fund1.99%1,042 +14%
Nippon India Large Cap Fund1.85%1,001 -8%
Nippon India Multi Cap Fund1.72%969 -10%
Axis Midcap Fund2.35%809 -9%
Motilal Oswal Large & Midcap Fund2.92%589 +73%
HSBC Midcap Fund3.20%550 -17%
Motilal Oswal Large & Midcap Fund2.92%539 +73%
Kotak Arbitrage Fund(M0.65%493 +63%
UTI Nifty200 Momentum 30 Index Fund4.31%363 -8%
Sundaram Mid Cap Fund2.09%311 -26%
Sundaram Mid Cap Fund2.09%304 -26%
Axis Large & Mid Cap Fund1.65%286 -21%
Axis Large & Mid Cap Fund1.65%278 -21%
Canara Rob Small Cap Fund1.84%270 -11%
Axis ELSS-Tax Saver Fund0.75%244 -20%
Edelweiss Mid Cap Fund1.15%229 -17%
Axis Flexi Cap Fund1.56%217 -20%
DSP Midcap Fund1.02%215 +100%
Nippon India ELSS Tax Saver Fund1.44%212 +4%
Axis Flexi Cap Fund1.56%210 -20%
HSBC Small Cap Fund1.10%209 -40%
HSBC Aggressive Hybrid Fund3.56%209 -15%
Kotak Balanced Advantage Fund1.18%206 -7%
Edelweiss Balanced Advantage Fund(Q1.43%193 -10%

Red flags

F-score 7 of 8
lookAuditor change Auditor change 2026-05-18: GE Vernova T&D India Limited has informed the Exchange regarding Change in Auditors of the company.
lookRegulator order or action Regulator order or action 2025-11-15: GE Vernova T&D India Limited has informed the Exchange about Action(s) taken or orders passed
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.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2016-11-02GE Energy Europe B.V.Promoterssell28,377Rs 0.95 CrMarket Sale
2016-10-28GE Energy Europe B.V.Promoterssell14,188Rs 0.49 CrMarket Sale
2016-02-01GE Energy Europe B.V,Promotersbuy42,570Rs 12.81 CrMarket Purchase
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,836 Cr +38.0% vs Jun 2025. Net profit ₹363 Cr +24.7%.
Against our estimate for Jun 2026: sales -8.1%, profit -11.2% miss. Our estimate for Sep 2026: sales Rs 2,153 Cr, profit Rs 422 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-21Dividend - Rs 10 Per Share
2025-08-22Dividend - Rs 5 Per Share
2024-08-28Dividend - Rs 2 Per Share
2023-08-14Annual General Meeting
2022-08-02Annual General Meeting
2021-07-29 Annual General Meeting
2020-09-18 Annual General Meeting
2019-07-16 Annual General Meeting/Dividend - Rs 1.80 Per Share
2018-07-17 Annual General Meeting/Dividend- Rs 1.80 Per Share
2017-07-17 Annual General Meeting/Dividend - Rs 1.80 Per Share
2016-07-18 Annual General Meeting/Dividend - Rs 1.80/- Per Share
2015-07-15Annual General Meeting/Dividend- Rs 1.80/- Per Share
2014-06-25Annual General Meeting / Dividend - Rs 1.80/- Per Share
2013-06-24Annual General Meeting/ Dividend Rs 1.80/- Per Share
2012-07-16Annual General Meeting And Dividend Rs.1.80 Per Share
2011-12-14Scheme Of Arrangement
2011-04-26Dividend-Rs.1.80 Per Share
2010-04-13Dividend-Rs.1.80 Pr Share
2009-04-29Agm/Dividend - 90% Bc Dates Revised
2008-10-22Fv Split Rs.10/- To Rs.2/Rd Date Revised0.2000
DateTypeWhat it says
2026-09-23Credit RatingCredit Rating
2026-09-17Investor PresentationInvestor Presentation
2026-09-16Concall / analyst meetSchedule of meet
2026-09-11Shareholder meetingVoting results of Annual General Meeting held on September 09, 2026
2026-09-10General UpdatesDisclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding appointment/re-appointment of dir...
2026-09-10Shareholder meetingGE Vernova T&D India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 09, 2026
2026-09-09Shareholder meetingProceedings of Annual General Meeting held on September 09, 2026
2026-09-07Order winBagging/Receiving of orders/contracts
2026-08-26ResignationResignation of Mr. Fabrice Aumont as Non- Executive & Non Independent Director of the company w.e.f. August 26, 2026.
2026-08-26ResignationResignation of Director/KMP/SMP
2026-08-14Concall / analyst meetTranscript
2026-08-13UpdatesBusiness Responsibility and Sustainability Report for Financial Year 2025-26.
2026-08-13Shareholder meetingNotice of 70th Annual General Meeting and Annual Report for the financial year 2025-26
2026-08-12General UpdatesGeneral Updates
2026-08-07Concall / analyst meetLink of Recording
2026-08-07Investor PresentationInvestor Presentation
2026-08-05Press ReleaseA press release dated August 05, 2026, titled "GE Vernova T&D India Limited Announces First Quarter FY 2026-27 Results".
2026-08-05Board meeting outcomeGE Vernova T&D India Limited has submitted to the Exchange, the financial results for the quarter ended Jun 30, 2026.
2026-07-30Concall / analyst meetSchedule of meet
2026-07-27Credit Rating- RevisionCredit Rating- Revision
2026-07-26CessationCessation of Ms Neera Saggi as Non- Executive Independent Director of the company w.e.f. July 26, 2026.
2026-06-12Disclosure under SEBI TakeovGE Grid Alliance B.V. has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substan...
2026-06-11Disclosure under SEBI TakeovGrid equipments Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Indi...
2026-06-01Investor PresentationInvestor Presentation
2026-05-26UpdatesNewspaper Advertisement & Letter to Shareholders - IEPF.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.82
Max pain (expiry 2026-10-27)4,200
Largest call open interest at4,600
Largest put open interest at4,000
Implied volatility, at the money31.6%
Underlying at snapshot4,253.20
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-3023
2026-09-29148
2026-09-281,750
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of GE Vernova T&D India Ltd?

GE Vernova T&D India Ltd (GVT&D) has a market capitalisation of Rs 1,08,554 Cr. at the 2026-10-01 close.

What is the P/E ratio of GE Vernova T&D India Ltd?

GE Vernova T&D India Ltd trades at a P/E of 80.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were GE Vernova T&D India Ltd's latest quarterly results?

In the Jun 2026 quarter, GE Vernova T&D India Ltd sales was Rs 1,836 Cr (+38.0% vs Jun 2025) and net profit was Rs 363 Cr.

What is the 52-week high and low of GE Vernova T&D India Ltd?

The 52-week high is Rs 5,650.00 and the 52-week low is Rs 2,523.20.

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