GE Vernova T&D Bags ₹500 Crore Orders from Power Grid

GE Vernova T&D India Limited has secured three orders from Power Grid Corporation of India Limited (PGCIL), amounting to approximately ₹500 crore. The orders involve the supply and installation of 765kV class transformers and reactors under bulk procurement. The execution timeline for these orders is set at 36 months.

Execution and Order Details

According to GE Vernova T&D’s regulatory filing, these orders are domestic and do not involve any related-party transactions. The contracts fall under bulk procurement and are expected to be completed within the specified timeline of 36 months.

Power Grid’s Projects

Power Grid Corporation has been awarded three interstate transmission system projects under tariff-based competitive bidding. These include:

• Rajasthan REZ Phase-V (Part-1: 4 GW) – Establishment of transmission lines and augmentation of transformation capacity at the Sirohi substation in Rajasthan.
• Banaskantha (Raghanesda) Power Station, Gujarat – Expansion of the existing infrastructure.
• Kurnool-IV REZ Phase-I (4.5 GW), Andhra Pradesh and Karnataka – Establishment of a new 765/400/220kV Kurnool IV Pooling Substation, capacity expansion at the C’peta Substation, and new transmission lines.

Financial Performance

The company reported a net profit of ₹142.68 crore for the quarter ending December 2024, compared to ₹49.35 crore in the same quarter of 2023.

As of 9:36 AM on March 5, GE Vernova T&D India Ltd traded at ₹1,400.00, rising 2.87% for today but down 18.14% over the past month, while still up 44.16% in the past year. Meanwhile, Power Grid Corporation of India Ltd was at ₹258.85, gaining 1.91% for the day.

The stock’s 52-week high stands at ₹2,215.70, recorded on December 23, 2024, while its 52-week low of ₹801.00 was observed on March 20, 2024. Currently, the stock trades around 38.62% below its 52-week high but remains 69.79% above its lowest level.

Conclusion

All in all, GE Vernova T&D India’s ₹500 crore order from Power Grid adds to its project pipeline, with execution planned over 36 months.

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