---
title: "GE Vernova T&D India (GVT&D) Share Price, Financials & Research"
symbol: "GVT&D"
company: "GE Vernova T&D India Ltd"
canonical: "https://tapetide.com/stocks/GVT&D"
isin: "INE200A01026"
nse_symbol: "GVT&D"
bse_code: "522275"
sector: "Capital Goods"
industry: "Electrical Equipment"
generated_at: "2026-11-05T01:31:06.535Z"
---

# GE Vernova T&D India (GVT&D)

Canonical page: https://tapetide.com/stocks/GVT&D

## Key Facts

- **Price:** ₹4,265.00 as of 4 Nov 2026, 15:58 IST
- **P/E (TTM):** 83.66 as of 4 Nov 2026
- **1-year price change:** +35.54% from 4 Nov 2025 to 4 Nov 2026, adjusted for splits and bonuses, dividends excluded
- **Revenue, Sep 2026 quarter:** ₹2,027.0 Cr, against ₹1,538.5 Cr in Sep 2025 (+31.75% year on year)
- **Net profit, Sep 2026 quarter:** ₹431.4 Cr, against ₹299.5 Cr in Sep 2025 (+44.04% year on year)
- **Promoter holding:** 51.00% in Sep 2026, unchanged from Jun 2026
- **Tapetide Score:** 54/100, Average band as of 4 Nov 2026

## Company

- **NSE symbol:** GVT&D
- **BSE code:** 522275
- **ISIN:** INE200A01026
- **Macro sector:** Industrials
- **Sector:** Capital Goods
- **Industry:** Electrical Equipment
- **Basic industry:** Heavy Electrical Equipment
- **In the F&O segment:** Yes

## Latest Price

- **Price:** ₹4,265.00
- **Change:** No trade today
- **Previous Close:** ₹4,265.00
- **As of:** 4 Nov 2026, 15:58 IST

## Key Fundamentals

Price-based figures as of 4 Nov 2026, 15:58 IST · EPS basis: Standalone · TTM.

- **ROCE:** 77.40%
- **Debt to Equity:** 0.01
- **EPS (TTM):** ₹50.98
- **Book Value:** ₹128.67
- **P/E (TTM):** 83.66
- **P/B:** 33.15
- **ROE:** 57.40%
- **Dividend Yield:** 0.25%
- **EBITDA:** ₹1,775 Cr
- **52W High:** ₹5,650.00
- **52W Low:** ₹2,523.20

## Peer Comparison

Classification: Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment

| Company | Price | P/E | Market Cap | P/B | Div Yield | ROE | ROCE | Sales TTM | Net Profit TTM |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| [Bharat Heavy Electricals Ltd (BHEL)](https://tapetide.com/stocks/BHEL) | ₹423.85 | 51.25 | ₹1,46,351 Cr | 5.52 | 0.35% | 6.23% | 9.14% | ₹37,782 Cr | ₹2,878 Cr |
| [ABB India Ltd (ABB)](https://tapetide.com/stocks/ABB) | ₹6,750.00 | 47.87 | ₹1,40,908 Cr | 15.32 | 1.36% | 22.40% | 29.90% | ₹13,477 Cr | ₹2,988 Cr |
| [CG Power & Industrial Solutions Ltd (CGPOWER)](https://tapetide.com/stocks/CGPOWER) | ₹841.45 | 96.28 | ₹1,27,312 Cr | 15.17 | 0.16% | 20.50% | 26.70% | ₹13,699 Cr | ₹1,364 Cr |
| [Hitachi Energy India Ltd (POWERINDIA)](https://tapetide.com/stocks/POWERINDIA) | ₹29,100.00 | 112.75 | ₹1,24,045 Cr | 25.06 | 0.03% | 21.90% | 29.40% | ₹9,162 Cr | ₹1,149 Cr |
| [Siemens Ltd (SIEMENS)](https://tapetide.com/stocks/SIEMENS) | ₹3,509.00 | — | ₹1,22,035 Cr | 9.03 | 0.53% | 19.20% | 21.40% | ₹18,062 Cr | ₹3,276 Cr |
| [GE Vernova T&D India Ltd (GVT&D)](https://tapetide.com/stocks/GVT&D) (this company) | ₹4,265.00 | 83.66 | ₹1,04,523 Cr | 33.15 | 0.25% | 57.40% | 77.40% | ₹6,712 Cr | ₹1,305 Cr |
| [Siemens Energy India Ltd (ENRIN)](https://tapetide.com/stocks/ENRIN) | ₹2,963.00 | 70.90 | ₹1,01,562 Cr | 21.93 | 0.14% | 50.50% | 67.80% | ₹9,436 Cr | ₹1,489 Cr |
| Median of 7 companies | ₹3,509.00 | 77.28 | ₹1,24,045 Cr | 15.32 | 0.25% | 21.90% | 29.40% | ₹13,477 Cr | ₹1,489 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 4 Nov 2026.

- **Score:** 54/100 (Average)
- **Data confidence:** 100/100

### Category scores

| Category | Score | Band | Weight | Measures |
| --- | ---: | --- | ---: | --- |
| Quality | 70 | Strong | 22% | Returns, margins, earnings quality |
| Valuation | 29 | Poor | 24% | Cheap vs sector & own history |
| Growth | 97 | Strong | 9% | Sales & profit trajectory |
| Financial Health | 79 | Strong | 9% | Solvency, leverage, coverage |
| Momentum | 25 | Poor | 12% | Trend strength, vol-adjusted |
| Ownership | 50 | Average | 24% | FII/DII/promoter flows |

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

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 85.6% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 42.3%
- Company has been maintaining a healthy dividend payout of 23.4%

### Weaknesses

- Stock is trading at 39.5 times its book value
- Promoter holding has decreased over last 3 years: -24.0%

## Technical Indicators

As of 4 Nov 2026.

| Group | Signal | Bearish | Neutral | Bullish |
| --- | --- | ---: | ---: | ---: |
| Overall | Strong Bullish | 4 | 4 | 11 |
| Oscillators | Bearish | 3 | 4 | 2 |
| Moving Averages | Strong Bullish | 1 | 0 | 9 |

### Oscillators: Bearish

| Name | Value | Signal |
| --- | ---: | --- |
| RSI (14) | 56.85 | Neutral |
| MACD (12,26,9) | -33.53 | Bullish |
| Stochastic (14,3,3) | 87.97 | Bearish |
| ADX (14) | 17.13 | Neutral |
| Williams %R (14) | 0.00 | Bearish |
| ATR (14) | 172.48 | Neutral |
| ROC (12) | 7.73 | Bullish |
| Stoch RSI (14) | 100.00 | Bearish |
| UO (7,14,28) | 63.53 | Neutral |

### Moving Averages: Strong Bullish

| Name | Value | Signal |
| --- | ---: | --- |
| SMA (10) | 3,987.15 | Bullish |
| EMA (10) | 4,067.61 | Bullish |
| SMA (20) | 4,043.22 | Bullish |
| EMA (20) | 4,073.33 | Bullish |
| SMA (50) | 4,221.85 | Bullish |
| EMA (50) | 4,178.96 | Bullish |
| SMA (100) | 4,393.43 | Bearish |
| EMA (100) | 4,236.42 | Bullish |
| SMA (200) | 4,169.07 | Bullish |
| EMA (200) | 4,030.91 | Bullish |

### Pivot Points

| Level | Classic | Fibonacci | Camarilla |
| --- | ---: | ---: | ---: |
| R3 | 4,747.66 | 4,506.33 | 4,364.55 |
| R2 | 4,506.33 | 4,368.05 | 4,331.37 |
| R1 | 4,385.66 | 4,282.61 | 4,298.18 |
| PP | 4,144.33 | 4,144.33 | 4,144.33 |
| S1 | 4,023.66 | 4,006.05 | 4,231.82 |
| S2 | 3,782.33 | 3,920.61 | 4,198.63 |
| S3 | 3,661.66 | 3,782.33 | 4,165.45 |

## Analyst Rating

Based on 18 analysts. 16 of 18 analysts rate Buy, 1 Hold, 1 Sell. As of 4 Nov 2026.

| Rating | Analysts | Share |
| --- | ---: | ---: |
| Buy | 16 | 89% |
| Hold | 1 | 6% |
| Sell | 1 | 6% |

## Growth Rate

Growth computed from the financial statements below. A window with no rate gives the reason instead of a figure.

| Metric | Window | Growth | What it compares |
| --- | --- | ---: | --- |
| Revenue | 10Y | 6.51% | compounded annual rate, Mar 2016 to Mar 2026 |
| Revenue | 5Y | 12.45% | compounded annual rate, Mar 2021 to Mar 2026 |
| Revenue | 3Y | 30.8% | compounded annual rate, Mar 2023 to Mar 2026 |
| Revenue | 1Y | 44.59% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Revenue | TTM | 43.88% | four quarters to Jun 2026 vs the four to Jun 2025 |
| Net profit | 10Y | 43.2% | compounded annual rate, Mar 2016 to Mar 2026 |
| Net profit | 5Y | 83.05% | compounded annual rate, Mar 2021 to Mar 2026 |
| Net profit | 3Y | Turned to profit | compounded annual rate, Mar 2023 to Mar 2026: -₹1.00 Cr to ₹1,233 Cr. A loss at the start and a profit at the end. A growth rate off a loss has no meaning. |
| Net profit | 1Y | 103% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Net profit | TTM | 70.59% | four quarters to Jun 2026 vs the four to Jun 2025 |
| Operating cash flow | 10Y | Turned positive | compounded annual rate, Mar 2016 to Mar 2026: -₹91.00 Cr to ₹1,710 Cr. A cash outflow at the start and an inflow at the end. |
| Operating cash flow | 5Y | 40.62% | compounded annual rate, Mar 2021 to Mar 2026 |
| Operating cash flow | 3Y | Turned positive | compounded annual rate, Mar 2023 to Mar 2026: -₹37.00 Cr to ₹1,710 Cr. A cash outflow at the start and an inflow at the end. |
| Operating cash flow | 1Y | 89.16% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Operating cash flow | TTM | — | four quarters to Jun 2026 vs the four to Jun 2025. Reported once a year, so there is no trailing-twelve-month figure. |
| Operating margin | 10Y | +24.25 pp | compounded annual rate, Mar 2016 to Mar 2026 |
| Operating margin | 5Y | +22.54 pp | compounded annual rate, Mar 2021 to Mar 2026 |
| Operating margin | 3Y | +23.13 pp | compounded annual rate, Mar 2023 to Mar 2026 |
| Operating margin | 1Y | +8.13 pp | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Operating margin | TTM | +4.21 pp | four quarters to Jun 2026 vs the four to Jun 2025 |

## Analyst Forecasts

Consensus of analyst estimates, as of 4 Nov 2026. Low and High are the range of the estimates, not a confidence interval.

### EBITDA (quarterly)

Dec 2026 consensus: ₹545 Cr (-9.1% vs ₹600 Cr in Sep 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Dec 2026 | ₹545 Cr | ₹532 Cr | ₹559 Cr |
| Mar 2027 | ₹548 Cr | ₹523 Cr | ₹574 Cr |

### EPS (annual)

FY27 consensus: ₹62.46 (+29.7% vs ₹48.16 in FY26).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| FY27 | ₹62.46 | ₹58.20 | ₹69.50 |
| FY28 | ₹80.31 | ₹73.10 | ₹90.70 |

### Net Income (quarterly)

Dec 2026 consensus: ₹410 Cr (-5.0% vs ₹431 Cr in Sep 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Dec 2026 | ₹410 Cr | ₹399 Cr | ₹421 Cr |
| Mar 2027 | ₹401 Cr | ₹384 Cr | ₹417 Cr |

### Price (quarterly)

Mar 2027 consensus: ₹5,186.72 (+23.5% vs ₹4,201.00 in Sep 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Mar 2027 | ₹5,186.72 | ₹3,057.00 | ₹6,482.00 |

### Revenue (quarterly)

Dec 2026 consensus: ₹2,106 Cr (+1.4% vs ₹2,077 Cr in Sep 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Dec 2026 | ₹2,106 Cr | ₹2,031 Cr | ₹2,182 Cr |
| Mar 2027 | ₹2,099 Cr | ₹2,069 Cr | ₹2,129 Cr |

### ROA (annual)

FY27 consensus: 20.3%.

Analyst consensus here uses a different definition from reported roa (they differ 2.2x on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| FY27 | 20.3% | 16.7% | 24.3% |
| FY28 | 20.8% | 17.2% | 24.5% |

### ROE (annual)

FY27 consensus: 47.2% (+1.4 pp vs 45.8% in FY26).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| FY27 | 47.2% | 39.3% | 50.8% |
| FY28 | 41.9% | 35.6% | 44.9% |

## AI Analysis — Bull vs Bear

AI-generated opinion, based on fundamentals. Figures as of 4 Nov 2026. Not investment advice, and not a recommendation to buy, sell or hold. Statements that rate the stock or set a price target are left out of this copy.

- **Risk (AI assessment):** High

GE Vernova T&D India Ltd trades at ₹4,265 as of 2026-11-04 with a market cap of ₹1,04,523 crore. The company is virtually debt-free (debt-to-equity of 0.01) with an ROE of 45.84% and ROCE of 58.45%, but trades at a PE of 83.66x and 33.15x book value, reflecting rich valuations relative to its strong earnings momentum.

### Bull Case

- Near-zero leverage with a debt-to-equity ratio of just 0.01, providing significant financial flexibility and resilience through business cycles
- Exceptional return on equity of 45.84% and ROCE of 58.45% as of 2026-11-04, indicating highly efficient capital deployment in a capital-intensive sector
- Compounded profit growth of 86% CAGR over 5 years and 77% TTM profit growth demonstrate sustained and accelerating earnings expansion
- 3-year ROE average of 42% and last year ROE of 57% show a consistently improving profitability trajectory, well above capital goods sector norms
- TTM revenue growth of 44% and 3-year compounded sales growth of 31% reflect strong demand tailwinds from India's transmission and distribution infrastructure build-out
- Stock has delivered a 1-year CAGR of 38% and 5-year CAGR of 100%, rewarding long-term shareholders with significant wealth creation
- Healthy dividend payout ratio of 23.4% with a current yield of 0.25%, indicating willingness to return capital to shareholders even while reinvesting for growth
- 10-year compounded profit growth of 44% demonstrates that the earnings trajectory is not a recent phenomenon but a long-duration structural trend

### Bear Case

- Trailing PE of 83.66x as of 2026-11-04 implies the stock is priced for perfection — any earnings miss could trigger a sharp de-rating
- Promoter holding has declined by 24.0 percentage points over the last 3 years, which may signal reduced promoter confidence or strategic dilution
- The stock is 24.5% below its 52-week high of ₹5,650, having already corrected from peak levels, yet remains 69% above the 52-week low of ₹2,523, indicating elevated volatility
- 10-year compounded sales growth of only 7% contrasts sharply with 44% profit CAGR over the same period, suggesting margin expansion may be reaching its limits and future profit growth will need revenue acceleration to sustain
- Dividend yield of just 0.25% offers negligible income cushion for investors at current price levels of ₹4,265
- At a market cap of ₹1,04,523 crore, the stock's EPS of ₹50.98 must grow substantially to justify the current multiple — even a modest slowdown in the 77% TTM profit growth rate could pressure the valuation
- Capital goods earnings are inherently cyclical and tied to government and utility capex cycles; current peak-cycle profitability (57% ROE last year) may not be sustainable through a downturn

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

## AI News Digest

AI-generated summary of recent news, generated 4 Nov 2026. Not investment advice, and not a recommendation to buy, sell or hold. Statements that rate the stock or set a price target are left out of this copy.

**TL;DR:** GE Vernova T&D India secured a significant HVDC project order from Power Grid Corporation, highlighting its capability in large-scale renewable energy transmission. With only one recent headline, there are no visible headwinds but limited data points to assess trend direction. The 6,000 MW HVDC win is a clear positive for the order book, and further contract announcements could strengthen the bullish outlook.

### Positives

- **6,000 MW HVDC project win** (Nov 04): GE Vernova T&D India won an award from Power Grid Corporation of India for a 6,000 MW HVDC project focused on long-distance transfer of renewable energy, reinforcing its position in high-capacity transmission infrastructure.

## Financial Statements

### Quarterly Results

Figures in ₹ crore unless the row name gives another unit.

| Item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 718 | 698 | 839 | 914 | 958 | 1,108 | 1,074 | 1,153 | 1,330 | 1,538 | 1,701 | 1,637 | 1,836 | 2,027 |
| Expenses | 667 | 637 | 742 | 803 | 776 | 903 | 894 | 900 | 943 | 1,142 | 1,246 | 1,192 | 1,375 | 1,477 |
| Operating Profit | 51 | 61 | 97 | 111 | 182 | 205 | 180 | 252 | 388 | 396 | 455 | 445 | 461 | 550 |
| OPM % | 7% | 9% | 12% | 12% | 19% | 18% | 17% | 22% | 29% | 26% | 27% | 27% | 25% | 27% |
| Other Income | 12 | 9 | -4 | 6 | 12 | 4 | 26 | 21 | 16 | 19 | -51 | 43 | 42 | 50 |
| Interest | 11 | 7 | 7 | 3 | 2 | 3 | 4 | 6 | 3 | 2 | 3 | 7 | 3 | 8 |
| Depreciation | 13 | 13 | 12 | 12 | 12 | 12 | 12 | 11 | 11 | 12 | 12 | 12 | 12 | 12 |
| Profit before tax | 39 | 50 | 73 | 101 | 180 | 194 | 190 | 256 | 390 | 401 | 390 | 469 | 487 | 580 |
| Tax % | 27% | 26% | 32% | 34% | 25% | 25% | 25% | 27% | 25% | 25% | 25% | 25% | 25% | 26% |
| Net Profit | 28 | 37 | 49 | 66 | 135 | 145 | 143 | 186 | 291 | 299 | 291 | 352 | 363 | 431 |
| EPS in Rs | 1.1 | 1.45 | 1.93 | 2.59 | 5.25 | 5.65 | 5.57 | 7.28 | 11.37 | 11.7 | 11.36 | 13.74 | 14.18 | — |

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

### Profit & Loss

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 3,711 | 3,303 | 4,052 | 4,332 | 4,219 | 3,159 | 3,452 | 3,066 | 2,773 | 3,168 | 4,292 | 6,206 | 6,712 |
| Expenses | 3,379 | 3,197 | 3,996 | 4,057 | 3,765 | 3,354 | 3,282 | 3,155 | 2,652 | 2,836 | 3,461 | 4,500 | 4,956 |
| Operating Profit | 332 | 107 | 57 | 275 | 454 | -195 | 171 | -89 | 121 | 332 | 831 | 1,706 | 1,757 |
| OPM % | 9% | 3.2% | 1.4% | 6% | 11% | -6% | 4.9% | -2.9% | 4.4% | 10% | 19% | 28% | 26% |
| Other Income | 11 | 142 | 141 | 239 | 49 | 5 | 69 | 136 | 22 | 22 | 62.59 | 25 | 53 |
| Interest | 91 | 107 | 182 | 106 | 85 | 87 | 84 | 59 | 61 | 41 | 27 | 35 | 15 |
| Depreciation | 82 | 86 | 88 | 90 | 83 | 78 | 66 | 58 | 55 | 50 | 47 | 46 | 47 |
| Profit before tax | 170 | 56 | -73 | 319 | 335 | -356 | 89 | -69 | 27 | 263 | 820 | 1,650 | 1,747 |
| Tax % | 29% | 38% | 18% | 35% | 36% | -15% | 32% | -29% | 106% | 31% | 26% | 25% | — |
| Net Profit | 121 | 34 | -87 | 209 | 213 | -303 | 60 | -50 | -1 | 181 | 608 | 1,233 | 1,305 |
| EPS in Rs | 4.71 | 1.35 | -3.38 | 8.15 | 8.31 | -11.82 | 2.36 | -1.94 | -0.06 | 7.07 | 23.76 | 48.17 | 50.98 |
| Dividend Payout % | 38% | 134% | n/m | 22% | 22% | 0% | 0% | 0% | 0% | 28% | 21% | 21% | — |

n/m: 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.

### Balance Sheet

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Equity Capital | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 |
| Reserves | 1,261 | 1,127 | 982 | 1,138 | 1,377 | 1,000 | 1,071 | 1,029 | 1,022 | 1,192 | 1,722 | 2,639 |
| Borrowings | 280 | 504 | 518 | 100 | 81 | 599 | 316 | 226 | 273 | 42 | 35 | 24 |
| Other Liabilities | 2,900 | 3,090 | 3,563 | 3,479 | 2,688 | 2,503 | 2,664 | 2,461 | 2,333 | 2,300 | 2,853 | 5,025 |
| Total Liabilities | 4,492 | 4,772 | 5,114 | 4,769 | 4,196 | 4,154 | 4,102 | 3,767 | 3,679 | 3,584 | 4,661 | 7,739 |
| Fixed Assets | 687 | 684 | 656 | 586 | 513 | 538 | 494 | 457 | 421 | 401 | 379 | 412 |
| CWIP | 70 | 33 | 25 | 18 | 5 | 12 | 22 | 9 | 9 | 11 | 47 | 65 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 3,735 | 4,055 | 4,433 | 4,165 | 3,679 | 3,604 | 3,587 | 3,302 | 3,250 | 3,173 | 4,234 | 7,262 |
| Total Assets | 4,492 | 4,772 | 5,114 | 4,769 | 4,196 | 4,154 | 4,102 | 3,767 | 3,679 | 3,584 | 4,661 | 7,739 |

### Cash Flow

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash from Operating Activity | 502 | -91 | 188 | 1,054 | -355 | -260 | 311 | 8 | -37 | 518 | 904 | 1,710 |
| Cash from Investing Activity | -137 | -50 | -47 | -306 | 287 | -30 | 12 | 116 | 3 | -172 | -495 | -509 |
| Cash from Financing Activity | -320 | 120 | -131 | -585 | -114 | 290 | -324 | -102 | 9 | -259 | -69 | -147 |
| Net Cash Flow | 45 | -20 | 11 | 163 | -182 | 0 | -1 | 22 | -26 | 87 | 339 | 1,054 |
| Free Cash Flow | 424 | -141 | 142 | 1,043 | -362 | -292 | 324 | -17 | -54 | 489 | 816 | 1,521 |
| CFO/OP | 172 | -39 | 373 | 433 | -51 | 99 | 194 | -35 | -7 | 162 | 133 | 129 |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Debtor Days | 211 | 228 | 205 | 152 | 175 | 219 | 201 | 186 | 204 | 166 | 125 | 128 |
| Inventory Days | 292 | 511 | 542 | 234 | 136 | 177 | 143 | 159 | 119 | 103 | 100 | 132 |
| Days Payable | 766 | 823 | 805 | 389 | 247 | 272 | 275 | 283 | 197 | 156 | 146 | 170 |
| Cash Conversion Cycle | -262 | -84 | -58 | -4 | 63 | 125 | 69 | 62 | 127 | 114 | 79 | 90 |
| Working Capital Days | 50 | 22 | -2 | -18 | 48 | 20 | 23 | 13 | 20 | 29 | 35 | 6 |
| ROCE % | 16% | 10% | 7% | 30% | 31% | -14% | 11% | -9% | 8% | 23% | 55% | 77% |

## Shareholding Pattern

### Quarterly Shareholding

Holdings in % of shares; shareholders as a count.

| Holder | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Promoters | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 59.38% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% |
| FIIs | 0.47% | 0.46% | 0.29% | 0.26% | 0.25% | 0.25% | 0.27% | 0.26% | 0.26% | 0.37% | 0.59% | 0.69% | 1.20% | 2.04% | 6.82% | 12.05% | 13.05% | 14.49% | 16.15% | 18.46% | 20.39% | 22.89% | 19.16% |
| DIIs | 15.08% | 14.55% | 15.10% | 15.49% | 15.47% | 15.72% | 15.71% | 15.74% | 15.72% | 16.52% | 16.19% | 16.11% | 15.84% | 14.97% | 25.61% | 28.40% | 28.19% | 26.76% | 25.20% | 23.28% | 21.39% | 18.47% | 22.17% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 7.66% | 7.96% | 8.04% | 7.80% | 7.86% | 7.65% | 7.61% | 7.61% | 7.62% | 6.45% | 5.99% | 5.96% | 5.87% | 6.12% | 6.13% | 6.36% | 5.76% | 5.76% | 5.73% | 5.42% | 5.36% | 5.74% | 5.77% |
| Others | 2.26% | 2.48% | 1.86% | 1.71% | 1.67% | 1.63% | 1.69% | 1.65% | 1.65% | 2.03% | 2.24% | 2.24% | 2.09% | 1.87% | 2.06% | 2.19% | 2.01% | 1.99% | 1.91% | 1.84% | 1.86% | 1.90% | 1.91% |
| No. of Shareholders | 40,464 | 43,290 | 42,059 | 41,143 | 41,862 | 40,825 | 39,063 | 39,123 | 38,865 | 38,226 | 39,717 | 37,443 | 44,121 | 59,130 | 74,413 | 87,000 | 82,054 | 90,663 | 1,02,934 | 1,03,226 | 1,10,662 | 1,38,122 | 1,53,699 |

## Documents

### Concalls

Latest 12 of 57.

| Month | Call documents |
| --- | --- |
| Sep 2026 | [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c2ae1e5-962b-4794-9304-b6f4862aba82.pdf) |
| Aug 2026 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e878001-cb64-4afe-9971-538b3b370c55.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4daef405-c3b2-4086-9ae3-f74b8a9ce9bf.pdf), [Recording](https://www.gevernova.com/gev/sites/default/files/2026-08/10046002.mp3) |
| Jun 2026 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a5bb42ee-030d-4609-8c0c-c870d331a898.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c6a2fec7-335b-4f2a-99df-cfa2fb57f97c.pdf) |
| May 2026 | [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0c7a8795-8052-45c7-9a74-031e61518605.pdf), [Recording](https://www.gevernova.com/gev/sites/default/files/2026-05/10043156_1.mp3) |
| Feb 2026 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b2670282-6ba5-4675-bdeb-4f0f79acf91b.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9fcddcc8-45b4-4318-aad9-dba9f05bf5cb.pdf) |
| Nov 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cc5110b4-97a6-403a-9513-8229747a533f.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ddf49330-531c-4829-b736-2a4d9abb616c.pdf), [Recording](https://youtu.be/B67xVNDvnVk) |
| Aug 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=905ecaf8-c3e7-49dd-afbd-557d8ed0434d.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3a7a4f82-ea36-45fb-9f49-2c29f93d384c.pdf), [Recording](https://www.gevernova.com/regions/asia/in/sites/www.gevernova.com.regions.asia.in/files/2025-07/recording-29th-july-2025.mp3) |
| Aug 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0de0e798-78ed-4b6a-aa81-a812a2ff6cf2.pdf) |
| Jul 2025 | [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5df98e5a-61c8-432c-a61d-54c7438de871.pdf) |
| May 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8b95719a-dd1f-4f6f-913c-19ef978f75ee.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a0e772bc-885f-4032-995c-67b64448b1ad.pdf), [Recording](https://www.gevernova.com/regions/asia/in/sites/www.gevernova.com.regions.asia.in/files/2025-05/recording.mp3) |
| Feb 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7089a3cc-ac2b-416b-8d0e-4cc60249d574.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3041fe03-d38e-4b29-88c2-bf2783d6547b.pdf), [Recording](https://www.gevernova.com/regions/asia/in/sites/www.gevernova.com.regions.asia.in/files/2025-02/q3recording.mp3) |
| Nov 2024 | [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=091c8b74-cd88-4cab-902c-901fc11b9467.pdf) |

### Results

Latest 12 of 28.

| Date | Document |
| --- | --- |
| 5 Feb 2025 | [Results For The Quarter Ended Dec 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f0907982-8fd8-4811-9a1e-10ba359f3e8a.pdf) |
| 8 Nov 2024 | [Unaudited Financial Results For The Quater Ended 30Th September 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=84d101b4-39eb-4eca-9153-9fd8879e88f4.pdf) |
| 31 Jul 2024 | [Financial Results For June Quarter 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=df5434a3-285a-480f-b610-00576763742e.pdf) |
| 21 May 2024 | [Audited Financial Results Of The Company For The Quarter And Year Ended On 31St March, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f4ad4ab4-5223-4e61-a39a-26df926e6cbf.pdf) |
| 5 Feb 2024 | [Results For The Quarter Ended December 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0fe80e04-5016-45e9-afac-c04ded20cf82.pdf) |
| 5 Feb 2024 | [Board Meeting Outcome for Outcome Of The Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5d20c585-6d0c-4b07-84ab-e46967088c33.pdf) |
| 8 Nov 2023 | [Results For The Quarter And Half Year Ended On September 30, 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=78818e2f-777e-4c19-a39c-b02ae06acc22.pdf) |
| 8 Aug 2023 | [Financial Results For The Quarter Ended June 30, 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=093b47d5-aa40-4e1a-9aba-fa717351df4d.pdf) |
| 23 May 2023 | [Board Meeting Outcome for Approval Of Financial Results For The Financial Year Ended March 31, 2023 And For The Quarter Ended On That Date](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f7eabde8-9907-4a9c-a157-017d10146f0d.pdf) |
| 23 May 2023 | [Results-Financial Results For March 31, 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7875be94-879f-472d-9ec3-7b303b47442d.pdf) |
| 9 Feb 2023 | [Unaudited Financial Results For The Quarter Ended On December 31, 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=21ea5caa-5723-49d9-937d-5985996f6d63.pdf) |
| 9 Feb 2023 | [Board Meeting Outcome for Unaudited Financial Results For The Quarter Ended On December 31, 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3253006a-42e9-46a1-9b25-000aa971b3be.pdf) |

### Annual reports

Latest 12 of 16.

| Year | Report |
| --- | --- |
| FY2026 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3ac035f5-0911-48ef-b59b-4b6eda828213.pdf) |
| FY2025 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ff804d07-3ea5-4053-83d7-549a68f528f2.pdf) |
| FY2024 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=18cc759d-cdbb-493e-a113-d3cd9f9547f5.pdf) |
| FY2023 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3437b7b7-9de2-4088-8234-724d48cc6d29.pdf) |
| FY2022 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/73794522275.pdf) |
| FY2021 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/68946522275.pdf) |
| FY2020 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/66159522275.pdf) |
| FY2019 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/5222750319.pdf) |
| FY2018 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/5222750318.pdf) |
| FY2017 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/5222750317.pdf) |
| FY2016 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/5222750316.pdf) |
| FY2015 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/522275/5222750315.pdf) |

### Credit ratings

| Date | Document |
| --- | --- |
| 29 Jul 2026 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=144616) |
| 2 Sep 2025 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=137419) |
| 27 Nov 2024 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=131354) |
| 12 Apr 2024 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=126919) |
| 4 Sep 2023 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=122065) |
| 6 Jan 2023 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=117198) |
| 25 Feb 2022 | [Credit rating update — ICRA](https://www.icra.in/Rationale/ShowRationaleReport/?Id=110264) |

### Exchange filings

Latest 12 of 90.

| Date | Document | Category |
| --- | --- | --- |
| 4 Nov 2026 | [Update In Intimation Of Bagging/Receiving Of Orders/Contracts](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d82caacc-ec45-47a9-b6ed-1d4f240cca95.pdf) | General announcements |
| 1 Nov 2026 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=25662d74-4401-43fb-b7b9-2453ba9364a5.pdf) | General announcements |
| 31 Oct 2026 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=98599143-2018-4a62-b0fa-0586849b81f1.pdf) | — |
| 30 Oct 2026 | [Board Meeting Outcome for Outcome Of Board Meeting Held On October 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=207ecb59-3db0-4b7d-83d8-02affa61d52d.pdf) | Outcome |
| 30 Oct 2026 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2796a9c0-84af-45a7-978f-1a1f378a3b01.pdf) | General announcements |
| 30 Oct 2026 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e51b1eaf-dca9-4855-ae16-f9c881d72723.pdf) | — |
| 23 Oct 2026 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fb3812b9-b5d5-4174-a7dd-51941a2c593b.pdf) | General announcements |
| 12 Oct 2026 | [Board Meeting Intimation for Consider Un-Audited Financial Results For The Quarter And Half Year Ended September 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fc809859-9ae1-4c81-b780-f97931de9def.pdf) | Intimation |
| 7 Oct 2026 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d4284809-d60d-42d6-91bd-75670d282874.pdf) | General announcements |
| 5 Oct 2026 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=38664252-5d57-458b-9f86-109d1aaffa37.pdf) | General announcements |
| 28 Sep 2026 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=978f5bf5-87b3-4cd5-bd04-ef777a73a3f6.pdf) | Intimation |
| 23 Sep 2026 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a258380c-9096-4a5d-bf53-fa6e503eb889.pdf) | General announcements |

## Frequently Asked Questions about GE Vernova T&D

### What does GE Vernova T&D India Ltd do?

GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid.

### Where is GE Vernova T&D India Ltd (GVT&D) listed?

GE Vernova T&D India Ltd trades as GVT&D on the NSE and under code 522275 on the BSE.

### Which sector does GE Vernova T&D India Ltd belong to?

GE Vernova T&D India Ltd is classified under the Capital Goods sector, in the Electrical Equipment industry.

### What is the PE ratio of GE Vernova T&D India Ltd?

GE Vernova T&D India Ltd trades at a PE ratio of 83.66 as of 4 Nov 2026, on earnings per share of ₹50.98, against a book value of ₹128.67 per share.

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

Over the last 52 weeks GE Vernova T&D India Ltd has traded between ₹2,523.2 and ₹5,650 as of 4 Nov 2026.

### Does GE Vernova T&D India Ltd pay dividends?

GE Vernova T&D India Ltd has a dividend yield of 0.25%.

### What is the Return on Equity (ROE) of GE Vernova T&D India Ltd?

GE Vernova T&D India Ltd reported a return on equity of 57.40%. Its debt-to-equity ratio is 0.01.

## Company Information

GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid.

- **Website:** https://gevernova.com/regions/asia/in/gevernova-td-india
- **CEO:** Mr. Sandeep Zanzaria
- **Employees:** 1,697
- **Listed:** 30 Jun 2008
- **Face Value:** ₹2

---

Negative figures use an ASCII hyphen-minus (-) so they parse as numbers. Amounts are in Indian rupees; "Cr" is crore (10 million). Dates are Indian Standard Time.

Financial statements, shareholding and filings are as reported by the company. Price, volume and 52-week levels are market data. Technical indicators are computed by Tapetide from daily prices. The Tapetide Score is Tapetide’s own analysis. Analyst ratings and forecasts are the published estimates of third-party analysts, not company statements. The AI sections are generated text.

For research and information only, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Generated 5 Nov 2026, 07:01 IST.