GE Vernova T&D India share price
NSE: GVT&DBSE: 522275Electrical EquipmentMid Cap
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
- Next results date: the board meets on 30 Oct 2026 to consider: financial results and other business matters. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹1,01,907 Cr109th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 78.09
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 37.88
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.25%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 58.5%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 63.5%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 12,18,81052.7% 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
Where revenue comes from
- Revenue by customer location, ₹ million2122Exports were 30% of revenue in the quarter to Jun 2026.
Item year to Mar 2026 year to Mar 2025 India 41,732.0 31,802.9 Other countries 20,331.1 11,120.1 - 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 customer31322 customers accounted for about 21% and 11% of revenue in the year to Mar 2026.
Item quarter to Jun 2026 Private customers 77% Central utilities and public sector companies 21% State utilities 2% - 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. Annual report, 13 Aug 2026, page 9
- 2. Annual report, 13 Aug 2026, page 9
- 3. Annual report, 13 Aug 2026, page 70
- 4. Annual report, 13 Aug 2026, page 10
- 5. Annual report, 13 Aug 2026, page 193
- 6. Annual report, 13 Aug 2026, page 25
- 7. Annual report, 13 Aug 2026, page 63
- 8. Annual report, 13 Aug 2026, page 63
- 9. Annual report, 13 Aug 2026, page 2
- 10. Annual report, 13 Aug 2026, page 42
- 11. Annual report, 13 Aug 2026, page 42
- 12. Annual report, 13 Aug 2026, page 7
- 13. Earnings call, 7 Aug 2026, page 4
- 14. Earnings call, 7 Aug 2026, page 10
- 15. Annual report, 13 Aug 2026, page 4
- 16. Annual report, 13 Aug 2026, page 14
- 17. Earnings call, 7 Aug 2026, page 6
- 18. Earnings call, 7 Aug 2026, page 5
- 19. Annual report, 13 Aug 2026, page 10
- 20. Investor presentation, 17 Sep 2026, page 11
- 21. Annual report, 13 Aug 2026, page 193
- 22. Earnings call, 7 Aug 2026, page 5
- 23. Annual report, 13 Aug 2026, page 3
- 24. Annual report, 13 Aug 2026, page 9
- 25. Annual report, 13 Aug 2026, page 9
- 26. Annual report, 13 Aug 2026, page 9
- 27. Earnings call, 7 Aug 2026, page 4
- 28. Annual report, 13 Aug 2026, page 4
- 29. Earnings call, 7 Aug 2026, page 4
- 30. Earnings call, 7 Aug 2026, page 5
- 31. Earnings call, 7 Aug 2026, page 6
- 32. Annual report, 13 Aug 2026, page 193
- 33. Annual report, 13 Aug 2026, page 16
- 34. Annual report, 13 Aug 2026, page 15
- 35. Investor presentation, 17 Sep 2026, page 12
- 36. Annual report, 13 Aug 2026, page 15
- 37. Earnings call, 7 Aug 2026, page 17
- 38. Earnings call, 7 Aug 2026, page 13
- 39. Earnings call, 7 Aug 2026, page 6
- 40. Earnings call, 7 Aug 2026, page 5
- 41. Exchange filing, 7 Sep 2026, page 1
- 42. Exchange filing, 27 Jul 2026, page 1
- 43. Annual report, 13 Aug 2026, page 14
- 44. Annual report, 13 Aug 2026, page 126
- 45. Exchange filing, 10 Apr 2026, page 1
- 46. Exchange filing, 14 Nov 2025, page 2
- 47. Exchange filing, 14 Nov 2025, page 1
Results
Standalone; ₹ crore.GE Vernova T&D India quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +43.9%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +70.6%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,836 Crup 12.16%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹363 Crup 3.19%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 19.8%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,108 | 1,074 | 1,153 | 1,330 | 1,538 | 1,701 | 1,637 | 1,836 |
| Net profit | 145 | 143 | 186 | 291 | 299 | 291 | 352 | 363 |
| Net margin | 13.1% | 13.3% | 16.2% | 21.9% | 19.5% | 17.1% | 21.5% | 19.8% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹6,206 Crup 44.59%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,233 Crup 102.73%
- Net margin
- 19.9%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,260 | 4,386what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹54 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,219 | 3,159 | 3,452 | 3,066 | 2,773 | 3,168 | 4,292 | 6,206 |
| Net profit | −87 | 209 | 213 | −303 | 60 | −89 | −1 | 181 | 608 | 1,233 |
| Net margin | −2.0% | 4.8% | 5.0% | −9.6% | 1.7% | −2.9% | −0.1% | 5.7% | 14.2% | 19.9% |
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
At or below today's level on 14% of 864 trading days over the last 5 years.
At or below today's level on 86% of 1,971 trading days since Nov 2018.
At or below today's level on 63% of 2,478 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend 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% |
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 timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 12
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 7
- AddedAdded. Funds that held more shares than at the end of the month before.
- 109
- CutCut. Funds that held fewer shares than at the end of the month before.
- 94
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 117
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 11
| Fund | |||
|---|---|---|---|
| 38,82,119 | 2.45% | ₹1,630.9 Cr | |
| 24,00,000 | 2.01% | ₹1,008.2 Cr | |
| 20,22,418 | 1.58% | ₹849.6 Cr | |
| 19,21,542 | 2.41% | ₹807.2 Cr | |
| 18,75,827 | 1.54% | ₹788.0 Cr | |
| 14,86,923 | 3.15% | ₹624.7 Cr | |
| 12,37,411 | 3.09% | ₹519.8 Cr | |
| 9,80,750 | 0.55% | ₹412.0 Cr | |
| 8,19,470 | 4.32% | ₹344.3 Cr | |
| 7,52,002 | 1.92% | ₹315.9 Cr |
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
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
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,38,800 | 46.46 | 14.86 | – | – | 36.1% | 18.7% | 1.83% | |
| 1,31,615 | 95.69 | 15.06 | +23.8% | +29.4% | 17.0% | 17.7% | 0.16% | |
| 1,26,563 | 110.02 | 24.45 | +40.2% | +127.7% | 24.5% | 25.4% | 0.03% | |
| 1,18,926 | 36.31 | 8.59 | −1.7% | +33.7% | 25.0% | 11.7% | 0.54% | |
| 1,01,277 | 68.06 | 21.05 | – | – | 34.3% | 39.2% | 0.14% | |
| 50,751 | 16.14 | 5.36 | +45.2% | +50.2% | 40.4% | 27.4% | 0.00% | |
| 37,574 | 63.32 | 6.77 | +4.7% | −11.6% | 11.3% | 8.3% | 0.63% | |
| 27,289 | 148.50 | 35.24 | +9.6% | −29.5% | 27.5% | 24.7% | 0.00% |
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
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 21 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹10.00 |
| 22 Aug 2025 | Final | ₹5.00 |
| 28 Aug 2024 | Final | ₹2.00 |
| 16 Jul 2019 | Final | ₹1.80 |
| 17 Jul 2018 | Final | ₹1.80 |
| 17 Jul 2017 | Final | ₹1.80 |
Latest announcements
Routine notices left out.GE Vernova T&D India announcements
Oct 2026
23 Oct · Analysts
Sep 2026
23 Sep · Rating
16 Sep · Analysts
GE Vernova T&D India share price by year
Each calendar year to 2025.GE Vernova T&D India share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 3,132.50 | +50.9% | 3,171.20 | 1,295.55 |
| 2024 | 2,075.90 | +312.4% | 2,155.75 | 528.50 |
| 2023 | 503.35 | +336.4% | 503.35 | 100.70 |
| 2022 | 115.35 | −13.7% | 139.40 | 82.90 |
| 2021 | 133.65 | +14.0% | 146.55 | 107.55 |
| 2020 | 117.20 | −20.4% | 174.45 | 58.90 |
| 2019 | 147.20 | −49.7% | 321.20 | 140.05 |
| 2018 | 292.65 | −33.9% | 460.50 | 222.70 |
| 2017 | 443.05 | +48.3% | 443.05 | 279.05 |
| 2016 | 298.80 | −37.0% | 471.90 | 287.35 |
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 3,654.40 | 3,799.60 | 3,623.00 | 3,790.00 | 3,739.62 | 9,54,099 | 53.8% |
| 23 Oct 2026 | 3,650.00 | 3,700.00 | 3,533.40 | 3,700.00 | 3,612.91 | 15,02,774 | 52.1% |
| 22 Oct 2026 | 3,750.00 | 3,812.60 | 3,681.50 | 3,740.00 | 3,746.57 | 4,88,627 | 44.2% |
| 21 Oct 2026 | 3,920.00 | 3,925.00 | 3,720.10 | 3,813.80 | 3,779.97 | 7,66,038 | 46.8% |
| 19 Oct 2026 | 3,968.00 | 3,970.50 | 3,915.00 | 3,925.00 | 3,939.82 | 3,90,489 | 58.7% |
| 16 Oct 2026 | 3,970.00 | 3,997.60 | 3,877.10 | 3,959.10 | 3,945.66 | 7,16,897 | 47.8% |
| 15 Oct 2026 | 4,104.10 | 4,105.80 | 3,933.00 | 3,949.00 | 3,996.94 | 12,87,340 | 51.2% |
| 14 Oct 2026 | 4,191.00 | 4,240.30 | 4,145.00 | 4,190.00 | 4,194.19 | 4,37,727 | 55.1% |
| 13 Oct 2026 | 4,192.80 | 4,211.00 | 4,066.00 | 4,191.20 | 4,121.43 | 10,96,658 | 50.1% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 14 Dec 2011 | Demerger | 0.9077 | Part 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 2008 | Split | 0.2000 | Each share became 5. |
Company details
- 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