GVT&D

GE Vernova T&D India share price & results

GE Vernova T&D India Limited· Capital Goods· Industrials

Results to
Sept 2026
Latest analysed call
Q2 FY27
Ownership as of
Sept 2026

Maker of high-voltage power transmission equipment and grid-automation systems; GE Vernova's India T&D arm

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Guidance Hit Rate
12 targets · 67% hit rate 2 achieved · 9 active →
Segment Shift
Sector & Mix Compare sector growth & peers →
Reverse DCF
Implied Growth Test priced-in growth in DCF tool →
Concall & Tone
Q2 FY27 analysed Read claims, qualifiers & Q&A →

Price & Snapshot

₹4,106 +1.26% · +₹51

Last close 9 Nov 2026 · NSE · INR · Source: Inve

Performance +33.6% 1Y

₹3.0k₹4.0k₹5.0kNov 25Dec 25Feb 26Mar 26May 26Jun 26Aug 26Sept 26Nov 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 28 Jan 2026Q4 FY26 — 19 May 2026Q1 FY27 — 7 Aug 2026Q2 FY27 — 30 Oct 2026

1Y: ₹3,073.2 on 7 Nov 2025 → ₹4,106. High ₹5,533.5 (19 Jun 2026), low ₹2,557.8 (21 Jan 2026).

Previous close
₹4,055
Market cap
₹1.1L Cr
52-week range
₹2,557.8 – ₹5,533.5
One year
+32.56%

Reported

Key financial metrics & valuation ratios

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue2,027 ₹ crore+31.8% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin27.0 %+1.0 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit431 ₹ crore+44.1% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equityUnavailable—Trailing twelve monthsTTM · period unavailable
Not in the analysed materials. No older figure is substituted.
Free cash flow marginUnavailable—Fiscal yearFY · period unavailable
Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)Unavailable—Trailing twelve monthsTTM · period unavailable
Not in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

2 of 3 judged targets kept · 9 open · verdicts reflect calls analysed to Q2 FY27.

GE Vernova T&D India Limited management guidance track record on Inve: 12 targets tracked across analysed earnings calls (2 achieved, 1 missed, 9 open).

Watch execution in Growth & Demand (1 delayed/missed) · Operations & Margins (1 achieved · 1 delayed/missed).

TargetOriginal wordingSaidLatest callVerdict
Operations EBITDA Margin
mid-teen to high-teen
Call transcript, Q3 FY25 · 5 Feb 2025
Q3 FY25
Q2 FY27:Historical promise achieved and closed.
Call transcript, Q2 FY27 · 30 Oct 2026
Achieved
Operations Dividend Payout
approximately INR 2.5 billion (INR 250 crores) in Q2
Call transcript, Q1 FY27 · 7 Aug 2026
Q1 FY27
Q2 FY27:No dividend was declared or paid in Q2 FY27 despite previous guidance; management only noted it is evaluating options for surplus cash utilization.
Call transcript, Q2 FY27 · 30 Oct 2026
Ghosted
Growth HVDC Project Order Finalization
Finalized in this financial year (FY26)
Call transcript, Q1 FY26 · 29 Jul 2025
Q1 FY26
Q2 FY27:Declared lowest bidder (L1) for Power Grid's Barmer HVDC; order not yet booked in Q2, with booking timeline shifted to Q3 FY27.
Call transcript, Q2 FY27 · 30 Oct 2026
Delayed

Source: Inve Guidance Tracker for GE Vernova T&D India Limited · to Q2 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of GE Vernova T&D India Limited's 12 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.

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Sector context

Sector call context

Shared sector pressures matched to this company’s latest reporting period.

Similar pressures reported by peers

Tailwind coverage is not available yet.

Similar commentary provides sector context; it does not establish a business relationship with GE Vernova T&D India Limited. Each comparison matches a headwind disclosed by GE Vernova T&D India Limited in the same calendar reporting quarter.

  • Management sees 'slight pressure' on prices in regular high-voltage products but called it…

    Topic: Raw material costs · Raw material cost · Q2 FY27

    GE Vernova T&D India Limited reported: Management sees 'slight pressure' on prices in regular high-voltage products but called it not significant.

    Reporting period ended 2026-09-30

    47 other companies · Raw material cost

    Polycab India Limited (POLYCAB) reported (period ended 2026-09-30): While copper prices are high, Polycab operates on a cost-plus model, mitigating direct exposure to volatility.

    APL Apollo Tubes Limited (APLAPOLLO) reported (period ended 2026-09-30): Domestic steel mills experienced multiple shutdowns in September-November, causing steel shortages and forcing APL Apollo to halt production of low-margin commodity products.

    Supreme Industries Limited (SUPREMEIND) reported (period ended 2026-09-30): Raw material producers estimate a ~10% fall in industry PVC demand in H1. Management says Supreme gained share.

    KEI Industries Limited (KEI) reported (period ended 2026-09-30): Copper price swings impact quarterly margins via inventory valuation adjustments, but management maintains natural hedging and bi-monthly retail price revisions mitigate long-term impact.

    Evidence drawer

    Evidence type: Summary paraphrase

    Management sees 'slight pressure' on prices in regular high-voltage products but called it not significant.

    Source company: GE Vernova T&D India Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 47

    Similar commentary provides sector context; it does not establish a business relationship.

  • Management said supply chain 'can have a very severe impact on the operations'

    Topic: Supply chain disruption · Logistics supply chain · Q2 FY27

    GE Vernova T&D India Limited reported: Management said supply chain 'can have a very severe impact on the operations'. 765 kV bushing lead times exceed 15-18 months and are largely imported.

    Reporting period ended 2026-09-30

    19 other companies · Logistics supply chain

    Tata Motors Limited (TMCV) reported (period ended 2026-09-30): Shortages in castings, machining, sheet metal stamping, proprietary items and imported EV battery cells caused lost demand in ILMCV and electric SCVs.

    Waaree Energies Limited (WAAREEENER) reported (period ended 2026-09-30): Domestic module utilisation was about 45% in Q2 because the supply chain was re-planned for non-DCR supply.

    Syrma SGS Technology Limited (SYRMA) reported (period ended 2026-09-30): Extended delivery lead times (up to 36-42 weeks on active controllers, and elongation in passives) create delivery bottlenecks and cost push without value-add margin, expected to persist until Q1 FY28.

    Jyoti CNC Automation Limited (JYOTICNC) reported (period ended 2026-09-30): Delivery lead times from international suppliers have more than doubled due to a worldwide machine tool capex boom, requiring elevated inventory buffers.

    Evidence drawer

    Evidence type: Summary paraphrase

    Management said supply chain 'can have a very severe impact on the operations'. 765 kV bushing lead times exceed 15-18 months and are largely imported.

    Source company: GE Vernova T&D India Limited · Reporting period ended 2026-09-30 · Calendar quarter: Q2 FY27 · Distinct companies matched: 19

    Similar commentary provides sector context; it does not establish a business relationship.

From available earnings-call summaries. Disclosures are management statements, not independently verified transactions.

Live Summary

GVT&D ₹4,106 +1.26%
Guidance Verdict (12 tracked) 2 kept · 9 open· 1 missed
AI Call Brief · Q2 FY27

GE Vernova T&D India Limited Q2 FY27

Overview

Symbol
NSE:GVT&D
Industry
Industrials
Exchange
NSE
Currency
INR

What GE Vernova T&D India Limited does

Based on the company's own presentations, annual report and earnings calls.

GE Vernova T&D India Limited (formerly GE T&D India) designs, manufactures and supplies equipment for electricity transmission and distribution, spanning high-voltage AC products (power transformers, gas- and air-insulated switchgear, instrument transformers, circuit breakers), high-voltage DC (HVDC) and FACTS/STATCOM systems, and grid-automation software. It earns revenue by supplying and executing turnkey substation and grid projects for Indian utilities, PSUs and private customers, and by exporting products and components to global markets. The company operates as the listed Indian arm of GE Vernova Inc. and pursues an 'India for the World' localization and export strategy.

Segments

  • High Voltage AC
  • High Voltage DC (HVDC & FACTS)
  • Grid Automation & Software
Manufacturing facilities in India
5 (Vadodara, Hosur, Padappai, Pallavaram, Noida)
Power transformers delivered (up to 1200kV)
800+ units
Countries exported to
60+
Grid control centre units delivered in India
100+
First-in-India capability
India's first dedicated 765 kV GIS manufacturing line (Padappai)
Vadodara relay & panel capacity
300,000 relays and 4,000 cubicles per year
Founded 1957Headquarters Noida, Uttar Pradesh, India Company website

How the price took the results

Moved an average of ±2.3% across the last 5 priced result releases

Close before → close after
QuarterReleaseRevenue (₹ Cr) Net profit (₹ Cr)Rev YoYBefore → AfterReaction
Q2 FY2730 Oct 262,027 431+31.8%₹4,091 → ₹4,020−1.7%
Q1 FY277 Aug 261,836 363+38.0%₹4,366.7 → ₹4,299−1.6%
Q4 FY2619 May 261,637 352+42.0%₹4,426.8 → ₹4,385.3−0.9%
Q3 FY2628 Jan 261,701 291+58.4%₹2,730.9 → ₹2,905+6.4%
Q2 FY2610 Nov 251,538 299—₹3,073.2 → ₹3,097.5+0.8%

The move from the last close before each results date to the first close on or after it — the market's first read on the quarter alongside what was filed.

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PEER COMPARISON
Median ₹1.1L Cr Mkt Cap
₹0 Cr₹50,000 Cr₹1.0L Cr₹1.5L CrGE Vernova T&D India Limited (GVT&D): ₹1.1L Cr₹1.1L CrGVT&DCG Power and Industrial Solutions Limited (CGPOWER): ₹1.3L Cr₹1.3L CrCGPOWERHitachi Energy India Limited (POWERINDIA): ₹1.3L Cr₹1.3L CrPOWERINDIAPolycab India Limited (POLYCAB): ₹1.2L Cr₹1.2L CrPOLYCABCummins India Limited (CUMMINSIND): ₹1.1L Cr₹1.1L CrCUMMINSINDAshok Leyland Limited (ASHOKLEY): ₹1.0L Cr₹1.0L CrASHOKLEYSiemens Energy India Limited (ENRIN): ₹1.0L Cr₹1.0L CrENRINMazagon Dock Shipbuilders Limited (MAZDOCK): ₹75,734 Cr₹75,734 CrMAZDOCKWaaree Energies Limited (WAAREEENER): ₹69,266 Cr₹69,266 CrWAAREEENER

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Quick Answers

Frequently asked questions on GE Vernova T&D India Limited

Compiled directly from GVT&D's filed financial statements, earnings call transcripts, and ownership disclosures.

How did GE Vernova T&D India Limited (GVT&D) perform in its latest reported quarter (Sept 2026)?

For the quarter ended Sept 2026, GE Vernova T&D India Limited reported revenue of ₹2.0k Cr, net profit of ₹431 Cr, an operating margin of 27.0%. Diluted earnings per share stood at ₹16.85.

How is GE Vernova T&D India Limited (GVT&D) valued today, and what growth does the stock price imply?

GE Vernova T&D India Limited (GVT&D) trades at ₹4,106, with a market capitalization of ₹105.1k Cr.

Who owns GE Vernova T&D India Limited (GVT&D) — promoters, FIIs, DIIs, and mutual funds?

As of Sept 2026, Promoters hold 51.0%, FIIs hold 19.2%, DIIs hold 22.2%, Public shareholders hold 7.7%.

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