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GE Vernova T&D India (522275) investor relations material
GE Vernova T&D India Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record renewable energy additions in India, with renewables now at 50% of installed power capacity, driving robust demand for T&D infrastructure.
Q3 FY 25-26 revenue grew 58% year-over-year to INR 17.0 billion, with profit before tax and exceptional items up 2.4x to INR 4.6 billion.
Board recommended appointment of Ms. Rashmi Joshi as independent director for five years and re-appointment of Mr. Sandeep Zanzaria as Managing Director and CEO for three years.
Unaudited standalone financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on January 28, 2026.
Financial highlights
Q3 revenue reached INR 17,006.4 million, up from INR 10,736.5 million year-over-year; net profit for the quarter was INR 2,908.0 million.
EBITDA margin for Q3 was 26.7%; nine-month EBITDA margin at 27.1%, an 80 bps improvement year-over-year.
Cash and cash equivalents stood at INR 15.9 billion as of December 31, with no debt.
Cash generated in Q3 was INR 0.7 billion; nine-month operational cash generation was INR 6.7 billion.
Basic and diluted EPS for the quarter was Rs. 11.36, up from Rs. 5.57 year-over-year.
Outlook and guidance
Management expects to deliver EBITDA at the higher end of the mid-20s range for the full year, with no major margin dilution anticipated.
Strong visibility for continued business strength due to a healthy order backlog and robust project pipeline.
Large orders from both domestic and export markets expected to be booked in subsequent quarters.
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