GE T&D India Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Small Cap

GE T&D India announced that Deepak Pandey, Digital Leader (Noida), being part of the Senior Management Team of the company has tendered his resignation effective from 15 April 2024, in order to pursue opportunities outside GE T&D.

Powered by Capital Market - Live News

The order involves supplying of 765 kV shunt reactors for PGCIL’s various transmission system projects in India. The said projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country, including Rajasthan and Karnataka.

GE T&D India will be responsible for providing the complete equipment package, including design, engineering, manufacturing, testing, erection and commissioning of the 765 kV class reactors at the designated transmission substation sites. The reactors are scheduled for delivery in FY25-26, the company stated in the press release.

Sandeep Zanzaria, MD & CEO of GE T&D India, said, We are delighted to support PGCIL in the modernization of India's grid infrastructure through the supply of locally manufactured equipment in alignment with the government’s Make in India initiative. To date, we have successfully manufactured and supplied over 600 transformers and reactors of 765 kV class from our power transformer facility in Vadodara, Gujarat, to customers in India and abroad, solidifying our position as a leading manufacturer of such equipment in India.”

GE T&D India is a leading player in the power transmission and distribution business. The company provides solutions for connecting and evacuating power from generations sources onto the grid.

The company’s standalone net profit stood at Rs 49.35 crore in Q3 FY24, steeply higher from Rs 5.17 crore posted in the third quarter of FY23. While, net sales stood at Rs 838.98 crore in Q3 FY24, up 8% year on year.

Powered by Capital Market - Live News

GE T&D India has secured orders worth approximately Rs 370 crore from Power Grid Corporation of India (PGCIL) for the supply of 765 kV Shunt Reactors for PGCIL's various transmission system projects in India. These projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country, including Rajasthan and Karnataka.

Powered by Capital Market - Live News

Net profit of GE T&D India rose 941.14% to Rs 49.35 crore in the quarter ended December 2023 as against Rs 4.74 crore during the previous quarter ended December 2022. Sales rose 8.03% to Rs 838.98 crore in the quarter ended December 2023 as against Rs 776.60 crore during the previous quarter ended December 2022.

Powered by Capital Market - Live News