Q2 2024 Ge Power India Ltd Earnings Call Transcript
Key Points
- GE Power India Ltd (BOM:532309) received orders worth INR671 crores in Q2 FY23-24, a significant increase from INR248 crores in Q2 FY22-23.
- The company secured a major order of INR444 crores from GSECL Sikka power station.
- Order backlog as of September 30, 2023, stands at INR3,699 crores, indicating strong future revenue opportunities.
- Core services segment continues to grow, with a 40% increase in orders quarter on quarter.
- The company has optimized capacity at the Durgapur factory, with new products like pressure vessels and oxygen lancers expected to add significant hours and improve utilization.
- Revenue for Q2 FY23-24 decreased by 17% compared to the same quarter last year, primarily due to lower orders and project delays.
- Cost escalations due to project delays and execution challenges have led to lower margins for the quarter.
- The company reported a loss before tax of INR62 crores for Q2 FY23-24, although this is an improvement from the loss of INR113 crores in Q2 FY22-23.
- Receivables as of September 30, 2023, are high at INR1,950 crores, indicating potential cash flow challenges.
- The conversion of FGD and hydro PSP opportunities into orders is slower than anticipated, impacting overall business performance.
Ladies and gentlemen, good day, and welcome to the earnings conference call of GE Power India Limited. With respect to its financial results for the quarter ended on September 30, 2023. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Prashanth Chiranjivi Jain, Managing Director. Thank you and over to you, sir.
Very good evening. A warm welcome all of you for joining the earnings call. I have my team with me today to address the financial results for the quarter through first half of the financial year 2024. I will touch upon the global economy where the global energy sector is making significant strides towards receiving net zero by 2050, despite an actual increase in power related emissions in 2022.
As reported by IEA, emissions were 1.3% higher than the previous year, retail 13.2 gigawatt tons CO2 in the power sector. Moreover, with August 2023 recorded as the hottest globally, this year is expected to
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
