Synopsis: A transmission and distribution company where the stock has given a compounded return of 194 percent in the last three years, has now announced its Q3FY26 result with a 103% jump in net profit.
A midcap stock where the company is in the power transmission and distribution business has witnessed its stock surge high soon after the company announced its Q3FY26 results with a 103 percent profit growth and increase in order inflow.
With a market cap of Rs 77,291 Cr, GE Vernova T&D India Ltd saw its stock hit an intraday high of Rs 3166 which is 9 percent higher than the previous close of Rs 2909. The stock has given a compounded return of 194 percent in the last three years.
The Q3FY26 Result
In the latest quarterly result the company has seen its revenue from operations increase by 58 percent YoY, from Rs 1,074 Cr in Q3FY25 to Rs 1,701 Cr in Q3FY26, while the QoQ increased by 10 percent from Rs 1,538 Cr. The net profits grew by 103 percent going from Rs 143 Cr in Q3FY25 to Rs 291 Cr in Q3FY26, while the QoQ decreased by 2.6 percent from Q2FY26’s Rs 299 Cr.
In 9M numbers of the fiscal year, the company saw its revenue from operations increase by 45 percent YoY, from Rs 313 Cr in 9MFY25 to Rs 456 Cr in 9MFY26. The net profits for the same period grew by 109 percent going from Rs 421 Cr to Rs 881 Cr.
The company has a 3 year sales CAGR of 12 percent, while the TTM is at 41 percent. The company’s 3 year profit CAGR is at 81 percent, while the TTM number is at 129 percent. The company also has a ROCE of 54 percent and a ROE of 40 percent.
Order book
The company has its order book at Rs 14,300 Crores, in which Rs 2936 Cr were received in Q3FY26. The order inflow for the quarter has a 41 percent growth from the Q3FY25’s order inflow of Rs 2080 Cr. .In the total orders received in Q3FY26 of Rs 2936 Cr, 86 percent were domestic orders while 14 percent were export orders.
The company’s key wins include- major orders from Power Grid Corporation of India Ltd (PGCIL) for the refurbishment of the 2x500MW Chandrapur HVDC Back-to-Back Station, and also for 765 kV power transformers at multiple transmission pooling stations to facilitate power evacuation from renewable energy zones.
Operational Highlight
In Q3FY26, the company commissioned 400 kV and 220 kV AIS bays for Renew at Koppal RTM, and 132 kV and 33 kV AIS bays with an added 100 MVA transformation capacity for JSUNL at Bhawnathpur substation, enhancing power transmission and substation efficiency.
GE Vernova T&D India Limited has over 100 years of experience in the power transmission and distribution sector, offering a versatile range of solutions for connecting and evacuating power from generation sources to the grid.
The company provides power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation, digital solutions, turnkey substations, FACTS, HVDC systems, and maintenance support across five manufacturing sites.
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