GE T&D receives order worth 55 million euros from Grid Solutions Middle East FZE, Dubai

GE T&D’s shares were trading higher by over 2% after the company announced that it had won an order worth 55 million euros. The company received the order from an international entity for the supply and supervision of high voltage products. The order was received from Grid Solutions Middle East FZE, Dubai and is expected to be executed within 5 years. Shares of GE T&D were trading at ₹1,760 per share.

The company stated that the order was received from a group company and the products will be a part of the overall project that is being executed by the group company for the end consumer. As a result, the company clarified that the contract falls under related party transactions and was conducted at an arm’s length. Last week, the company announced that operations at the company’s plant in Vadodara had resumed. The operations had been paused previously due to heavy rainfall and water logging.

In August, GE T&D reported that it had won an order from Power Grid Corporation of India worth ₹305 crore. The project is for the supply, installation, testing, commissioning, and maintenance of SCADA/EMS control centers.

In the first quarter of FY25, the company reported a 376.95% year-on-year (YoY) rise in net profit to ₹134.5 crore. The company’s revenue for the quarter was higher by 34% YoY at ₹958.3 crore. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter came in at ₹194 crore, higher by 208.91% YoY.

The EBITDA margin in Q1FY25 came in at 20.2% compared to 8.7% in the corresponding period last year. Meanwhile, the net profit margin stood at 14% compared to 3.9% in the same period last year.

Shares of the company have risen by nearly 233% since the beginning of the year. The stock has gained over 420% in the past year.