Q3 2026 GE Vernova T&D India Ltd Earnings Call Transcript
Key Points
- GE Vernova T&D India Ltd (BOM:522275) reported a significant revenue growth of 58% year-on-year for Q3, reaching INR17 billion.
- The company achieved a robust order book with bookings of INR29.4 billion, marking a 41% increase compared to the previous year.
- EBITDA margin expanded to 27.1% for the nine-month period, reflecting an 80 basis point improvement over the last financial year.
- The company has a strong cash position with cash and cash equivalents of INR15.9 billion and no debt.
- GE Vernova T&D India Ltd is well-positioned to support India's renewable energy infrastructure with its high-performance transmission solutions.
- The Adani HVDC orders were not included in the current quarter due to pending commercial milestones.
- There is uncertainty regarding the impact of potential changes in trade agreements with Europe on export competitiveness and raw material costs.
- Concerns about potential competition from Chinese companies entering the Indian market remain speculative but could impact future business.
- Execution timelines for large projects like HVDC are lengthy, spanning multiple years, which could delay revenue realization.
- The company faces challenges in maintaining high margins amidst commodity price fluctuations, although it has strategies to mitigate these risks.
Ladies and gentlemen, good day, and welcome to the conference call hosted by GE Vernova T&D India Limited for quarter three of financial year 2025, '26. (Operator Instructions)
I now hand the conference over to Ms. Megha Gupta GE Vernova T&D India Limited. Thank you, and over to you, Ms. Megha Gupta.
Good evening, everyone. Welcome to the GE Vernova T&D India Limited earnings call for quarter three of financial year '25, '26. I'm Megha Gupta from Investor Relations team, and I'm joined by Mr. Sandeep Zanzaria, CEO and MD of the company, Mr. Sushil Kumar, Managing Director and CFO of the company; Mr. Abhishek Srivastava, Head Business Operations; Ms. Kanika ora, Communication Leader; and Ms. Shweta Mehta, company secretary of the company.
During the call, we will discuss company's financial performance, including operational highlights. After the presentation, we will have a dedicated question-and-answer session.
Before we begin, I would like to highlight that
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