GE Vernova T&D India Limited, formerly known as GE T&D India Limited, reported on November 8, 2024 its unaudited financial results for the quarter ended September 30, 2024.
For the second quarter (July 1, 2024 – September 30, 2024)
• Revenue was INR 11.1 billion, against INR 7.0 billion in Quarter Ended September 2023, up 59%
• EBITDA was at INR 2,086 million (18.8%), against INR 698 million (10.0%) in Quarter Ended September 2023
• Profit After Tax was at INR 1,446 million (13.1%), against INR 372 million (5.3%) in Quarter Ended September 2023
• Order bookings were INR 46.8 billion, against INR 10.8 billion in Quarter Ended September 2023,
up 333%
Key Wins in Q2, Financial Year 2024-25
• Secured order from Grid Solutions SAS, France and Grid Solutions Middle East FZE, Dubai for supply of high voltage equipments from Padappai and Hosur.
• Secured order from Power Grid Corporation of India Ltd. and Grid Controller of India Ltd. to establish Regional Load Dispatch centers for Northern region and nine State Transmission constituencies with SCADA/EMS technologies.
• Secured order from Power Grid Corporation of India Ltd. and Grid Controller of India Ltd. to establish Regional Load Dispatch centers for Eastern region and six State Transmission constituencies with SCADA/EMS technologies.
• Secured contract from PGCIL for 765 kV Power Transformers and Shunt Reactors to be supplied, installed, and commissioned in various Ultra High Voltage Substations across India.
• Secured order from a reputed EPC Player for supply of 765 kV Power Transformer for Substation in Madhya Pradesh.
• Secured order for supply and construction for 300MW 400kV captive Switchyard / PSS from Tata Power Renewable Energy Ltd in Maharashtra.
• Secured order from IndiGrid for GIS Bay Extension at Prithala substation.
• Secured order from Energinet, the Danish national transmission system, for supply of 400 kV High voltage circuit breakers.
• Secured order from ElectraNet Australia for supply of high voltage instrument transformers.
• Secured multiple orders from EPC players for supply & commissioning of 765/400/220 kV CRP SAS for various TBCB projects.
• Secured order from a leading global EPC firm for 400 kV, 220 kV & 132 kV Gas Insulated Switchgear for Extra High Voltage Substations in West Bengal.
Operational Highlights of Q2, Financial Year 2024-25
• Successfully commissioned 132 / 33 KV Substation with 2X50 MVA 132/33KV Transformers of JUSNL Mahuadarn under a World Bank funded project.
• Successfully charged 765 KV Line Bay, 765 KV Tie Bay & 765 & 400 KV 1500 MVA ICT Bay at 765/400KV at New Kotra Substation of Powergrid.
• Successfully commissioned 500 MVA Power Transformer, 125 MVAr Reactor, 16 Bays (8 nos. each of 400 kV and 220 kV bays), AIS Line Bay for Renew at Gadag and Narendra.
• Commissioned extension scope of 220 kV Line Bays and 220 kV Bus Sectionalizer for Hindalco
at Jharsuguda, Odisha.
• Successfully commissioned 765 kV transformers for PGCIL at Bhadla.
• Successfully commissioned 765 kV transformers for Doosan at Obra.
• Successfully commissioned 400 kV transformers and shunt reactors for Doosan at Jawaharpur.
Sandeep Zanzaria, Managing Director & CEO, GE Vernova T&D India Limited, said, “We delivered a solid second quarter, delivering continued revenue growth, significant margin expansion, and substantial cash generation. We have secured a record high order backlog, which positions the company for strong revenue growth in the coming years. As India continues to make significant strides towards its ambitious target of 500 GW non-fossil fuel capacity by 2030, we are excited to collaborate with stakeholders in power sector and contribute to this transformative journey.”
About GE Vernova T&D India Limited
GE Vernova T&D India Ltd is the listed entity of GE Vernova’s Electrification business in India. With over 100 years of presence in the country, GE Vernova T&D India is a leading player in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generations sources onto the grid, providing utilities with the tools needed to support the increase in demand swiftly. GE Vernova T&D India offers products ranging from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution industry. GE Vernova T&D India Ltd has a predominant presence in all stages of the power supply chain and offers a wide range of “Made in India” products and related services that include power transformers, circuit breakers, gas insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, Flexible AC Transmission Systems (FACTS), High Voltage DC (HVDC) and maintenance support. With five manufacturing sites, GE Vernova T&D India Ltd is future ready to meet the industry’s growing demand for grid equipment and services. GE Vernova is committed to invent, deploy, and service technology to help decarbonize and electrify the Indian grid, and catalyse access to more secure, sustainable, reliable, and affordable electricity, to help drive global economic development.
