Company Disclosure: Q1 FY2026-27 Results Announcement

Financial Performance (Q1 FY27 vs Q1 FY26)

Revenue: ₹18.4 billion, increased 38% YoY from ₹13.3 billion in Q1 FY26

EBITDA: ₹4.6 billion (25.1% margin), increased 19% YoY from ₹3.9 billion (29.1% margin) in Q1 FY26

Profit After Tax: ₹3.6 billion (19.8% margin), increased 25% YoY from ₹2.9 billion (21.9% margin) in Q1 FY26

Order Bookings: ₹11.4 billion, decreased 30% YoY from ₹16.2 billion in Q1 FY26

Key Contract Wins (Q1 FY27)

  • Multiple orders for Current Transformers (CTs) and Capacitive Voltage Transformers (CVTs) from GE Grid Renewable LLC for North America
  • 400 kV Gas Insulated Switchgear (GIS) order from GE Grid Solutions, S.A. for Spain
  • 150 MVA 245 kV transformer order from a leading semiconductor player
  • Multiple Grid Automation packages orders from state utilities, EPC companies, and data centers
  • 400 kV GIS order from GE Grid Solutions, Middle East for Morocco
  • Multiple 765kV/400kV Air Insulated Switchgear (AIS) equipment orders from multiple EPC players
  • Multiple export orders for AIS/GIS equipment to North America, Europe, Middle East and Africa

Operational Highlights (Q1 FY27)

  • Successfully commissioned 400 kV bays for Adani KPS-3 and RTM package at Khavda, Gujarat
  • Successfully commissioned 400 kV and 220 kV GIS bays with power transformers for NEA Khimti Site in Nepal
  • Successfully commissioned 275 MVA 765 kV transformer for UPRVUNL, Ghatampur project
  • Successfully commissioned 765 kV and 400 kV Shunt Reactors for multiple locations of PGCIL and Resonia
  • Successfully commissioned GIS bays for Renew Power and DVC at Chandrapura Thermal Power Station in Jharkhand

Management Commentary

Sandeep Zanzaria, Managing Director & CEO, stated: "We have had a solid start to the financial year, positioning us well to serve India's ambitious energy transition goals. As the nation's power landscape evolves, we remain committed to a disciplined strategy of pursuing margin-accretive growth while maintaining operational excellence. To better serve our customers, we are investing in capex to strengthen our capabilities across HVDC, transformers and reactors, gas-insulated switchgear, circuit breakers, instrument transformers, disconnectors, bushings, and air-core reactors."

Company Background

GE Vernova T&D India Ltd is the listed entity of GE Vernova's Electrification segment in India with over 100 years of presence in the country. The company provides solutions for connecting and evacuating power from generation sources onto the grid, including power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation, digital software solutions, turnkey substation solutions, FACTS, HVDC, and maintenance support. The company operates five manufacturing sites in India.