GE Power India Ltd Share Price – NSE  / BSE

Infrastructure Developers & Operators, Small Cap

GE Power India has received a contract from Blue Energy for Design, Engineering, Procurement, Supply of Turbine, Governing, Generator, Control and Protection System up to project site, erection, testing and commissioning of GE Vernova supplied equipment for 100MW Super Trishuli HPP. The value of the contract is Rs 240.4 crore and NPR (Nepalese Rupee) 340 million.

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The scope of the project entails design, engineering, procurement, supply of turbine, governing, generator, control and protection system up to project site, erection, testing and commissioning of Ge Vernova supplied equipment for 100MW super trishuli HPP.

The said order will be executed within 42 months.

The said order is related to Hydro Business. It will be accounted for in accordance with the provisions of the business transfer agreement between the Company and GE Power Electronics (India) (now renamed as GE Vernova Hydro Power India) for the sale and transfer of the Hydro Business undertaking of the Company.

GE Power India's expertise covers engineering, manufacturing, project management, and supplying products and equipment for power plants. They operate across the entire power plant lifecycle, from design and procurement to construction and servicing.

The company reported a consolidated net profit of Rs 25.94 crore in Q4 FY24 as against a net loss of Rs 129.7 crore in Q4 FY23. Revenue from operations rose by 13.43% year on year (YoY) to Rs 390.76 crore in the fourth quarter of FY24.

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GE Power India has entered into a settlement agreement with Navayuga Engineering Company (NECL).

An arbitration related to the E&M Turnkey Contract between the Company and NECL has been ongoing since 2020. During the course of the legal proceedings, the parties reached an agreement to amicably resolve the dispute. As part of the full and final settlement, NECL has agreed to pay a sum of Rs 31.45 crore. Under this agreement the installments are spread across on a quarterly basis and the last installment will be received in 2026.

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The Board of GE Power India at its meeting held on 21 August 2024 has accepted the resignation of Prashant Jain (DIN 06828019) from the position of Managing Director with effect from close of business hours of 31 August 2024.

The Board has appointed Puneet Bhatla (DIN 09536236) as Additional Director & Managing Director from 01 September 2024 to 30 June 2027, subject to the approval of members.

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