GE Vernova T&D India logo

GE Vernova T&D India share price

NSE: GVT&DBSE: 522275Electrical EquipmentMid Cap

GE Vernova T&D India Limited · Formerly GE T&D India · Face value ₹2
Last close ₹3,980.00up ₹190.00 (5.01%)BSE ₹3,990.00

Share price at the NSE close on 27 Oct 2026. Previous close ₹3,790.00.

27 Oct: open ₹3,811.00, high ₹4,026.40, low ₹3,808.20

52-week range of traded prices to 27 Oct 2026
₹2,523.20Low, 21 Jan 2026₹5,650.00High, 23 Jun 2026
Market cap
₹1,01,907 Cr109th largest listed
P/E
78.09
P/B
37.88
Dividend yield
0.25%
ROE
58.5%
ROCE
63.5%
Debt to equity
0.00
Volume, NSE
12,18,81052.7% delivered

GE Vernova T&D India share price chart

Daily closes since Jan 2007, BSE closes Jan 2007 to Jun 2008, adjusted for splits and bonuses, with the demerger of Dec 2011 reinvested. Reinvested means the value of the shares of the company that was split off is treated as put back into this share at its opening price on the ex-date.

+39.9%over a year · Nifty 500 −8.8%

Results20-session average 7,30,679 shares a day, 51.1% delivered

About GE Vernova T&D India

GE Vernova T&D India Limited is a listed company in GE Vernova's Electrification segment in India.1 It makes and installs the equipment that carries power from generating stations onto the grid, including power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation and grid software, for government and private utilities and industrial customers in India and abroad.234

The company reports one business segment, covering products, projects and services for electricity transmission, and has no subsidiaries.56 Its range runs from medium voltage to 1200 kV (kilovolts) and includes turnkey substations, high-voltage direct current (HVDC) systems that move bulk power over long distances, and flexible AC transmission systems (FACTS) that keep grid voltage steady.7 It has 5 manufacturing sites.7 It had 1,851 permanent employees on 31 March 2026.8

It was incorporated in 1957.9 Its promoters are Grid Equipments Private Limited, which held 50.70% of its shares on 31 March 2026, and GE Grid Alliance B.V.1011 Its ultimate holding company is GE Vernova Inc. of the United States, whose segments are Power, Wind and Electrification.512 Sandeep Zanzaria is Managing Director and Chief Executive Officer, and Rathindra Nath Basu, an independent director, chairs the board.9

GE Vernova T&D India key points

Results

  • In the quarter to Jun 2026, revenue was ₹18.4 billion, up 38% from ₹13.3 billion a year earlier, and profit before tax, excluding one-off items, was ₹4.9 billion, against about ₹3.9 billion.13
  • EBITDA margin (earnings before interest, tax, depreciation and amortisation) was 25.1% of revenue in the quarter, against 27.1% in the year to Mar 2026.14
  • In the year to Mar 2026, revenue was ₹62.1 billion, up 45%, profit before tax, after a one-off charge, more than doubled to ₹16.5 billion and profit after tax was ₹12,332.5 million.1516
  • The company has no borrowings; it generated ₹4.3 billion of cash in the quarter to Jun 2026, taking available cash, including money lent to a cash pool, to ₹29.3 billion.1718

Market position

  • More than 50% of India's 765 kV AC grid is built on GE Vernova technology, the company says, and it has delivered over 800 units of 765 kV power transformers and reactors.19
  • GE Vernova T&D India has delivered more than 100 grid control centre units in India.20

Where revenue comes from

  • Revenue by customer location, ₹ million2122
    Itemyear to Mar 2026year to Mar 2025
    India41,732.031,802.9
    Other countries20,331.111,120.1
    Exports were 30% of revenue in the quarter to Jun 2026.
  • GE Vernova T&D India exports equipment made in India to 60+ countries across Asia, Europe, Latin America and Africa.23

Plants and capacity

  • Vadodara in Gujarat has made 765 kV transformers and shunt reactors (which hold down voltage on long lines) since 2009 and has supplied more than 700 units.24
  • Padappai (Chennai) has India's first dedicated 765 kV gas-insulated substation (GIS, compact enclosed switching equipment) manufacturing line, the company says; Hosur makes air- and gas-insulated switchgear, 765 kV current transformers and 1200 kV capacitive voltage transformers.25
  • Pallavaram in Chennai makes relays and control and relay panels, and Noida assembles digital control system platforms for smart grids.26

Order book

  • The order backlog (orders received but not yet delivered) was ₹209.3 billion at the end of June 2026, against ₹214.6 billion at the end of March 2026, as deliveries outpaced new orders.27
  • Orders booked were ₹147.8 billion in the year to Mar 2026, up 37%, and ₹11.4 billion in the quarter to Jun 2026, down 30% from ₹16.2 billion a year earlier; exports made up 46% of the quarter's orders.282930
  • Order backlog by customer3132
    Itemquarter to Jun 2026
    Private customers77%
    Central utilities and public sector companies21%
    State utilities2%
    2 customers accounted for about 21% and 11% of revenue in the year to Mar 2026.
  • Orders won in the year to Mar 2026 include a ±500 kV HVDC link from Khavda to South Olpad in Gujarat for Adani Energy Solutions, and India's first HVDC refurbishment order, the company says, for Power Grid's 2x500 MW Chandrapur station.33

Expansion and capital spending

  • The company said its board approved ₹8.1 billion, to be spent in phases up to Dec 2028, to raise Vadodara's transformer and reactor capacity by more than 50% and gas- and air-insulated switchgear capacity at Hosur and Padappai by about 25%.3435
  • The company said it is investing ₹1.4 billion, up to early 2027, in a new Chennai line for HVDC valves and STATCOM valves (STATCOM: equipment that steadies grid voltage).3635

What the company expects

  • On its earnings call of 7 Aug 2026, the company said it maintained its guidance of an EBITDA margin in the mid-20s per cent for the year to Mar 2027.37
  • On its earnings call of 7 Aug 2026, the company said its HVDC backlog is executed late in each project and that it sees growth from the year to Mar 2029.38
  • On its earnings call of 7 Aug 2026, the company said it had not booked any part of a related-party order approved by shareholders, which its group companies were still negotiating with the end customer; the documents give no later update.3940

Recent events

  • On 7 Sep 2026, Power Grid Corporation of India named the company lowest bidder (L1) to design and build a 6000 MW, ±800 kV HVDC terminal station from Barmer II to South Kalamb.41
  • On 27 Jul 2026, ICRA upgraded the company's long-term credit rating (an opinion on its ability to repay debt) to [ICRA]AA (Stable) from [ICRA]AA- (Positive).42
  • In its annual report of 13 Aug 2026, the company said the board had proposed a final dividend of ₹10 a share for the year to Mar 2026, against ₹5 a share for the previous year, subject to shareholders' approval; the documents give no outcome.4344
  • On 8 Apr 2026, the Supreme Court dismissed the company's petition against a customs demand of about ₹43,98,90,354 in duty and penalty on relay parts imported from 2002 to 2014, leaving it to appeal to the Commissioner (Appeals).454647

Last updated

All 47 sources, each with its page
  1. 1. Annual report, 13 Aug 2026, page 9
  2. 2. Annual report, 13 Aug 2026, page 9
  3. 3. Annual report, 13 Aug 2026, page 70
  4. 4. Annual report, 13 Aug 2026, page 10
  5. 5. Annual report, 13 Aug 2026, page 193
  6. 6. Annual report, 13 Aug 2026, page 25
  7. 7. Annual report, 13 Aug 2026, page 63
  8. 8. Annual report, 13 Aug 2026, page 63
  9. 9. Annual report, 13 Aug 2026, page 2
  10. 10. Annual report, 13 Aug 2026, page 42
  11. 11. Annual report, 13 Aug 2026, page 42
  12. 12. Annual report, 13 Aug 2026, page 7
  13. 13. Earnings call, 7 Aug 2026, page 4
  14. 14. Earnings call, 7 Aug 2026, page 10
  15. 15. Annual report, 13 Aug 2026, page 4
  16. 16. Annual report, 13 Aug 2026, page 14
  17. 17. Earnings call, 7 Aug 2026, page 6
  18. 18. Earnings call, 7 Aug 2026, page 5
  19. 19. Annual report, 13 Aug 2026, page 10
  20. 20. Investor presentation, 17 Sep 2026, page 11
  21. 21. Annual report, 13 Aug 2026, page 193
  22. 22. Earnings call, 7 Aug 2026, page 5
  23. 23. Annual report, 13 Aug 2026, page 3
  24. 24. Annual report, 13 Aug 2026, page 9
  25. 25. Annual report, 13 Aug 2026, page 9
  26. 26. Annual report, 13 Aug 2026, page 9
  27. 27. Earnings call, 7 Aug 2026, page 4
  28. 28. Annual report, 13 Aug 2026, page 4
  29. 29. Earnings call, 7 Aug 2026, page 4
  30. 30. Earnings call, 7 Aug 2026, page 5
  31. 31. Earnings call, 7 Aug 2026, page 6
  32. 32. Annual report, 13 Aug 2026, page 193
  33. 33. Annual report, 13 Aug 2026, page 16
  34. 34. Annual report, 13 Aug 2026, page 15
  35. 35. Investor presentation, 17 Sep 2026, page 12
  36. 36. Annual report, 13 Aug 2026, page 15
  37. 37. Earnings call, 7 Aug 2026, page 17
  38. 38. Earnings call, 7 Aug 2026, page 13
  39. 39. Earnings call, 7 Aug 2026, page 6
  40. 40. Earnings call, 7 Aug 2026, page 5
  41. 41. Exchange filing, 7 Sep 2026, page 1
  42. 42. Exchange filing, 27 Jul 2026, page 1
  43. 43. Annual report, 13 Aug 2026, page 14
  44. 44. Annual report, 13 Aug 2026, page 126
  45. 45. Exchange filing, 10 Apr 2026, page 1
  46. 46. Exchange filing, 14 Nov 2025, page 2
  47. 47. Exchange filing, 14 Nov 2025, page 1

Results

Standalone; ₹ crore.GE Vernova T&D India quarterly results

Revenue growth, 12 months
+43.9%
Net profit growth, 12 months
+70.6%

Quarter to Jun 2026, against the quarter before

Revenue
₹1,836 Crup 12.16%
Net profit
₹363 Crup 3.19%
Net margin
19.8%

Revenue by quarter

₹1,108 CrSep 24₹1,074 CrDec 24₹1,153 CrMar 25₹1,330 CrJun 25₹1,538 CrSep 25₹1,701 CrDec 25₹1,637 CrMar 26₹1,836 CrJun 26
Peak revenue ₹1,836 Cr, quarter to Jun 2026; lowest ₹1,074 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹145 CrSep 24₹143 CrDec 24₹186 CrMar 25₹291 CrJun 25₹299 CrSep 25₹291 CrDec 25₹352 CrMar 26₹363 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue1,1081,0741,1531,3301,5381,7011,6371,836
Net profit145143186291299291352363
Net margin13.1%13.3%16.2%21.9%19.5%17.1%21.5%19.8%
Standalone. The last eight quarters. The latest is shaded.

Business segments

In the year to Mar 2026 the company reports one business segment which carries all its revenue.

Valuation

Today, against the company's own history.GE Vernova T&D India PE ratio and valuation

Price to earnings

At or below today's level on 14% of 864 trading days over the last 5 years.

LowestHighest
Its median101.17Industry median32.64
Price to book

At or below today's level on 86% of 1,971 trading days since Nov 2018.

LowestHighest
Its median4.44Industry median5.36
Dividend yield

At or below today's level on 63% of 2,478 trading days over the last 10 years.

LowestHighest
Its median0.12%Industry median0.35%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+133.8%+102.7%+15.2%0.3%
3 years+212.8%––0.3%
5 years+99.3%+82.8%+8.9%0.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 3 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.GE Vernova T&D India shareholding pattern

Shareholding by group

  • Promoters51.00%
  • Foreign institutions19.16%
  • Indian institutions22.17%
  • Individuals and others7.68%
Holder
Grid Equipments Private LimitedPromoter50.70%
Sbi Life Insurance Co. LtdInsurance companies1.70%
GE Grid Alliance B.V.Promoter0.30%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −3.73 pts, Indian institutions +3.70 pts, mutual funds +1.56 pts.

Mutual fund holdings

342 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 136 of the 203 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 342 funds holding GE Vernova T&D India

Bought for the first time
12
Bought again
7
Added
109
Cut
94
Held unchanged
117
Sold out
11
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.GE Vernova T&D India insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade · 2 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

GE Vernova T&D India competitors and peers

Heavy Electrical Equipment, 48 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to GE Vernova T&D India in market cap.Capital goods stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
ABB India logoABB IndiaABB1,38,80046.4614.86––36.1%18.7%1.83%
CG Power and Industrial Solutions logoCG Power and Industrial SolutionsCGPOWER1,31,61595.6915.06+23.8%+29.4%17.0%17.7%0.16%
Hitachi Energy India logoHitachi Energy IndiaPOWERINDIA1,26,563110.0224.45+40.2%+127.7%24.5%25.4%0.03%
Siemens logoSiemensSIEMENS1,18,92636.318.59−1.7%+33.7%25.0%11.7%0.54%
Siemens Energy India logoSiemens Energy IndiaENRIN1,01,27768.0621.05––34.3%39.2%0.14%
Suzlon Energy logoSuzlon EnergySUZLON50,75116.145.36+45.2%+50.2%40.4%27.4%0.00%
Thermax logoThermaxTHERMAX37,57463.326.77+4.7%−11.6%11.3%8.3%0.63%
Schneider Electric Infrastructure logoSchneider Electric InfrastructureSCHNEIDER27,289148.5035.24+9.6%−29.5%27.5%24.7%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.GE Vernova T&D India dividend history

Dividend per share, ₹, restated for later splits and bonuses

1.8Mar 171.8Mar 181.8Mar 19Mar 20Mar 21Mar 22Mar 232Mar 245Mar 2510Mar 26
Highest ₹10.00 a share, year to Mar 2026.
Ex-dateTypePer share
21 Aug 2026Final₹10.00
22 Aug 2025Final₹5.00
28 Aug 2024Final₹2.00
16 Jul 2019Final₹1.80
17 Jul 2018Final₹1.80
17 Jul 2017Final₹1.80
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.GE Vernova T&D India announcements

GE Vernova T&D India share price by year

Each calendar year to 2025.GE Vernova T&D India share price history

YearClose at year endChangeHighest closeLowest close
20253,132.50+50.9%3,171.201,295.55
20242,075.90+312.4%2,155.75528.50
2023503.35+336.4%503.35100.70
2022115.35−13.7%139.4082.90
2021133.65+14.0%146.55107.55
2020117.20−20.4%174.4558.90
2019147.20−49.7%321.20140.05
2018292.65−33.9%460.50222.70
2017443.05+48.3%443.05279.05
2016298.80−37.0%471.90287.35
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 20263,654.403,799.603,623.003,790.003,739.629,54,09953.8%
23 Oct 20263,650.003,700.003,533.403,700.003,612.9115,02,77452.1%
22 Oct 20263,750.003,812.603,681.503,740.003,746.574,88,62744.2%
21 Oct 20263,920.003,925.003,720.103,813.803,779.977,66,03846.8%
19 Oct 20263,968.003,970.503,915.003,925.003,939.823,90,48958.7%
16 Oct 20263,970.003,997.603,877.103,959.103,945.667,16,89747.8%
15 Oct 20264,104.104,105.803,933.003,949.003,996.9412,87,34051.2%
14 Oct 20264,191.004,240.304,145.004,190.004,194.194,37,72755.1%
13 Oct 20264,192.804,211.004,066.004,191.204,121.4310,96,65850.1%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
14 Dec 2011Demerger0.9077Part of the business became a separate company. The factor is the opening price on the ex-date divided by the previous close. The chart shows earlier prices with the demerger reinvested.
22 Oct 2008Split0.2000Each share became 5.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
Rathindra Nath Basu
At the end of the quarter to Sep 2026
Managing director and CEO
Sandeep Zanzaria
At the end of the quarter to Sep 2026
NSE symbol
GVT&D
BSE code
522275
ISIN
INE200A01026
Industry
Electrical Equipment
Former symbols
GET&D, ALSTOMT&D, AREVAT&D, AREVA, GECALSTHOM
CIN
L31102DL1957PLC193993
Corporate identity number, the registrar of companies' code for it
Incorporated
1957
Registered office
A - 18, First Floor, Okhla Industrial Area, Phase - II, New Delhi 110020, Delhi
Share registrar
C B Management Services Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments