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GE Power India

GVPIL NSE
₹624.35 +37.35 (+6.36%)
P/E
15.45
View as Markdown
MCP
Close 4 Nov 2026 ₹624.35 +331.60 +113% 1Y
Start ₹292.75

Key Fundamentals

MicrocapElectrical EquipmentCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
82.00%
Debt to Equity
0.03
EPS (TTM)
₹40.40
Book Value
₹86.65
Market Cap
—
P/E (TTM)
15.45
P/B
7.21
ROE
62.20%
Dividend Yield
1.19%
EBITDA
₹374 Cr
52W High
₹1,084.00
52W Low
₹270.90
Day Range
₹580.20 – ₹626.90
Volume
1,59,579

Peer Comparison

Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment

GE Power peer comparison
Bharat Heavy Electricals
₹423.8551.25₹1,46,351 Cr5.520.35%6.23%9.14%₹37,782 Cr₹2,878 Cr
ABB
₹6,750.0047.87₹1,40,908 Cr15.321.36%22.40%29.90%₹13,477 Cr₹2,988 Cr
CG Power & Industrial Solutions
₹841.4596.28₹1,27,312 Cr15.170.16%20.50%26.70%₹13,699 Cr₹1,364 Cr
Hitachi Energy
₹29,100.00112.75₹1,24,045 Cr25.060.03%21.90%29.40%₹9,162 Cr₹1,149 Cr
Siemens
₹3,509.00—₹1,22,035 Cr9.030.53%19.20%21.40%₹18,062 Cr₹3,276 Cr
GE Vernova T&D
₹4,265.0083.66₹1,04,523 Cr33.150.25%57.40%77.40%₹6,712 Cr₹1,305 Cr
Siemens Energy
₹2,963.0070.90₹1,01,562 Cr21.930.14%50.50%67.80%₹9,436 Cr₹1,489 Cr
GE Power (this company)
₹624.3515.45₹4,002 Cr7.211.19%62.20%82.00%₹1,291 Cr₹271 Cr
Median 8 companies₹3,236.0070.90₹1,23,040 Cr15.250.30%22.15%29.65%₹11,457 Cr₹1,427 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

50 Average

Data confidence 100/100

Category scores

Quality
58
Good
Returns, margins, earnings quality 22% weight
Valuation
69
Strong
Cheap vs sector & own history 24% weight
Growth
54
Average
Sales & profit trajectory 9% weight
Financial Health
65
Good
Solvency, leverage, coverage 9% weight
Momentum
36
Poor
Trend strength, vol-adjusted 12% weight
Ownership
18
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 24.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 43.6%

Weaknesses

4
  • Stock is trading at 7.64 times its book value
  • The company has delivered a poor sales growth of -17.6% over past five years.
  • Tax rate seems low
  • Company has high debtors of 219 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBearish261
Moving AveragesNeutral505

Key readings

RSI (14)
50.03
Neutral
MACD (12,26,9)
−18.89
Bullish
SMA (50)
642.13
Bearish
SMA (200)
627.62
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y−2.94%
5Y−17.61%
3Y−10.93%
1Y+21.20%
TTM+18.86%

Net profit

Net profit growth by window
10YTurned to profit
5Y+29.30%
3YTurned to profit
1Y+24.63%
TTM+9.72%

Operating cash flow

Operating cash flow growth by window
10Y+22.43%
5YTurned positive
3Y+73.37%
1Y+23.75%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+31.49 pp
5Y+16.29 pp
3Y+38.63 pp
1Y+20.34 pp
TTM+24.25 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹1,993 Cr
Mar 2018₹1,338 Cr
Mar 2019₹1,903 Cr
Mar 2020₹2,446 Cr
Mar 2021₹3,343 Cr
Mar 2022₹2,620 Cr
Mar 2023₹1,796 Cr
Mar 2024₹1,039 Cr
Mar 2025₹1,047 Cr
Mar 2026₹1,269 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹2.00 Cr
Mar 2018₹27.00 Cr
Mar 2019₹75.00 Cr
Mar 2020₹85.00 Cr
Mar 2021₹70.00 Cr
Mar 2022−₹289 Cr
Mar 2023−₹441 Cr
Mar 2024−₹171 Cr
Mar 2025₹203 Cr
Mar 2026₹253 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

GE Power India Ltd has a market cap of ₹6,082 Cr trading at a PE of 23.3x and PB of 10.1x. The company has delivered strong profit growth (29.6% CAGR over 5 years) and a 3-year ROE of 52%, but revenue has declined at -17.6% CAGR over the past five years, presenting a divergence between earnings recovery and topline contraction.

Bull Case 7
  • Company is almost debt-free, having reduced its leverage significantly, providing financial flexibility for future capex or order execution
  • Compounded profit growth of 30% CAGR over 5 years and 41% over 3 years demonstrates sustained earnings recovery
  • 3-year ROE of 52% and last year ROE of 78% indicate highly efficient capital deployment in recent periods
  • TTM sales growth of 21% signals a potential revenue inflection after years of topline decline
  • TTM profit growth of 72% shows accelerating earnings momentum in the most recent period
  • Stock has delivered 178% returns over 1 year and 77% CAGR over 3 years, reflecting strong market re-rating
  • PE of 23.3x is not extreme for an industrials company with 72% TTM profit growth, suggesting potential earnings-led valuation support
Bear Case 7
  • Compounded sales have declined at -17.6% over 5 years and -11% over 3 years, indicating a structurally shrinking revenue base until very recently
  • Debtor days at 219 days signals significant working capital stress and potential collection risk from clients
  • 10-year stock CAGR of just 3% shows that long-term wealth creation has been minimal despite recent surge
  • 5-year ROE of -8% reveals that recent high returns are a reversal of earlier losses rather than a secular trend
  • Dividend yield of just 0.11% offers negligible income return to shareholders at current prices
  • 10-year compounded sales growth of -3% shows the company has failed to grow its topline over a full business cycle
  • Tax rate appears low, which may flatter reported earnings and could normalize upward in future periods

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: GE Power India is executing a clear turnaround with net worth reaching ₹483 crore and leadership appointments strengthening governance. The proposed demerger of Durgapur business to JSW Energy is progressing through NCLT-directed meetings and analyst engagement. No material headwinds are visible in recent news flow. The trend is improving as the company moves closer to completing its restructuring with JSW Energy.

Positives 2
  • Net worth surges, turnaround strategy Jul 3

    GE Power India outlined its Q1FY26 turnaround strategy and proposed demerger of Durgapur business to JSW Energy. Net worth surged to ₹483 crore by March 2026.

  • New CFO and directors appointed Jun 20

    Board approved re-appointment of Shukla Wassan and appointed Vipul Sharma, Rahul Rojal, and Shrikar Thakur to key roles effective June-July 2026, signaling leadership strengthening.

Neutral 3
  • Analyst meets on merger scheme Jul 1

    GE Power India scheduled analyst meets on July 6 and July 10, 2026 to discuss the scheme of arrangement with JSW Energy via conference call and webcast.

  • NCLT-directed meetings July 20 Jun 18

    GE Power India will hold NCLT-directed meetings on July 20, 2026 to consider the merger scheme with JSW Energy.

  • KMP contact details updated Jun 19

    GE Power India updated contact details for KMPs authorized to determine materiality of events, effective June 19, 2026.

Quarterly Results

₹ Cr
GVPIL quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
424
241
294
247
246
217
317
266
287
281
386
316
309
Expenses
556
267
292
262
265
207
313
287
287
253
261
210
264
Operating Profit
−132
−26
2
−16
−18
10
4
−21
0
28
125
107
45
OPM %
−31%
−11%
0.8%
−6%
−7%
4.7%
1.2%
−8%
0%
10%
32%
34%
14%
Other Income
17
−16
11
64
22
70
−15
223
44
16
−42
16
20
Interest
16
16
9
18
10
9
4
2
6
6
6
4
5
Depreciation
5
5.03
5.03
5.12
4.91
3.57
4
3
3
3
3
3
3
PBT
−136
−62
0
26
−10
67
−19
197
35
35
73
115
57
Tax %
0%
0%
0%
0%
0%
0%
0%
17%
0%
8%
2%
2%
5%
Net Profit
−136
−62
0
26
−10
67
−19
164
35
32
72
113
54
EPS (₹)
−20.2
−9.2
0.06
3.86
−1.42
9.95
−2.76
24.43
5.16
4.81
10.76
16.84
7.99

Profit & Loss

₹ Cr
GVPIL profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,124
1,711
1,993
1,338
1,903
2,446
3,343
2,620
1,796
1,039
1,047
1,269
1,291
Expenses
1,948
1,886
1,941
1,203
1,712
2,294
3,179
2,764
2,108
1,184
1,038
1,000
987
Operating Profit
177
−176
53
135
191
152
164
−144
−313
−145
9
269
304
OPM %
8%
−10%
2.6%
10%
10%
6%
4.9%
−5%
−17%
−14%
0.9%
21%
24%
Other Income
173
184
92
−9
40
157
66
−5
81
60
252
34
9
Interest
10
31
60
32
54
69
81
97
77
71
44
32
21
Depreciation
73
72
60
51
31
66
50
44
23
15
14
12
12
PBT
266
−94
26
42
146
173
99
−291
−331
−171
203
259
281
Tax %
34%
−39%
110%
37%
48%
51%
29%
−1%
33%
0%
0%
2%
—
Net Profit
177
−58
−2
27
75
85
70
−289
−441
−171
203
253
272
EPS (₹)
26.31
−8.63
−0.37
3.96
11.22
12.58
10.48
−42.96
−65.54
−25.49
30.2
37.58
40.4
Div. Payout %
38%
0%
Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number.
76%
54%
16%
10%
0%
0%
0%
0%
19%
—

Balance Sheet

₹ Cr
GVPIL balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
67
67
67
67
67
67
67
67
67
67
67
67
Reserves
911
758
760
761
815
849
904
609
165
2
249
515
Borrowings
0
0
0
0
0
137
453
388
359
163
29
18
Other Liabilities
2,090
2,762
3,039
3,085
2,677
2,316
2,569
2,394
2,272
2,349
1,667
1,538
Total Liabilities
3,069
3,588
3,867
3,913
3,559
3,370
3,993
3,458
2,864
2,581
2,012
2,138
Fixed Assets
396
374
350
271
151
307
283
133
110
98
63
40
CWIP
50
39
28
9
12
5
2
2
1
4
4
3
Investments
0
3
3
3
3
3
3
10
13
19
30
46
Other Assets
2,622
3,172
3,486
3,630
3,394
3,056
3,705
3,312
2,740
2,461
1,915
2,049
Total Assets
3,069
3,588
3,867
3,913
3,559
3,370
3,993
3,458
2,864
2,581
2,012
2,138

Cash Flow

₹ Cr
GVPIL cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
189
62
430
48
−241
−563
−478
49
90
182
379
469
Investing
367
−182
−91
−700
223
917
63
−5
6
−3
56
−436
Financing
−111
−84
−2
−28
−39
−86
254
−79
−48
−226
−128
−47
Net Cash Flow
445
−205
337
−680
−57
267
−160
−35
48
−47
308
−14
Free Cash Flow
192
35
406
36
−229
−465
−473
44
87
180
376
467
CFO/OP
163
−44
816
42
−81
−314
−268
−45
−24
−110
3,772
189

Ratios

GVPIL financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
166
231
155
259
188
198
242
334
397
597
409
219
Inventory Days
249
192
228
649
70
67
37
20
36
97
95
107
Days Payable
156
428
919
1,814
284
255
201
263
321
802
567
395
Cash Conversion Cycle
259
−5
−536
−907
−26
10
78
91
112
−108
−63
−69
Working Capital Days
−38
−53
−120
−187
−64
26
44
30
−25
−78
−83
15
ROCE %
24%
−7%
17%
26%
34%
22%
17%
−4%
−29%
−16%
27%
82%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view GE Power insights

62 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 68.58%
  • Public 24.42%
  • Others 5.19%
  • FIIs 0.74%
  • DIIs 0.70%
  • Government 0.39%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about GE Power India

What does GE Power India Ltd do?
GE Power India Ltd is engaged in business of engineering, procurement & construction (EPC) of key equipment for thermal and hydro power plants. It is one of the leading players in the Indian power generation equipment market.
Where is GE Power India Ltd (GVPIL) listed?
GE Power India Ltd trades as GVPIL on the NSE and under code 532309 on the BSE.
Which sector does GE Power India Ltd belong to?
GE Power India Ltd is classified under the Capital Goods sector, in the Electrical Equipment industry.
What is the PE ratio of GE Power India Ltd?
GE Power India Ltd trades at a PE ratio of 15.45 as of 4 Nov 2026, on earnings per share of ₹40.4, against a book value of ₹86.65 per share.
What is the 52-week high and low of GE Power India Ltd?
Over the last 52 weeks GE Power India Ltd has traded between ₹270.9 and ₹1,084 as of 4 Nov 2026.
Does GE Power India Ltd pay dividends?
GE Power India Ltd has a dividend yield of 1.19%.
What is the Return on Equity (ROE) of GE Power India Ltd?
GE Power India Ltd reported a return on equity of 62.20%. Its debt-to-equity ratio is 0.03.

Company Information

GE Power India Ltd is engaged in business of engineering, procurement & construction (EPC) of key equipment for thermal and hydro power plants. It is one of the leading players in the Indian power generation equipment market.

Website ge.com
CEO Mr. Puneet Bhatla
Employees 1,070
Listed 19 Apr 2000
Face Value ₹10

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