GE Power India Limited
NSE: GVPIL · Heavy Electrical Equipment · sector
₹575.80NSE close 2026-10-26
Key numbers
Market cap₹3,871 cr
Price₹575.80
52w high / low₹1,084 / ₹271
P/E14.3xSector median 27.8x
P/B6.7xSector median 5.4x
Book value₹86.7
Dividend yield–Sector median 0.19%
ROE60.4%Sector median 18.8%
ROCE61.4%Sector median 21.4%
OPM21.4%Sector median 15.1%
Debt / equity0.00xSector median 0.09x
EV/EBITDA12.4xSector median 21.4x
Interest cover17.2x
Current ratio1.34x
Sales growth 3y-10.9%Sector median +22.1%
Profit growth 3y–Sector median +27.5%
PEG1.45x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹430 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 17.2x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 34% of net profit in the last 12 months.
- Debtor days went from 382 (FY24) to 219 (FY26).
- Dividend paid in 1 of the last 5 financial years.
- Price ₹575.80 on 2026-10-26: -46.9% from the 52-week high, +112.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,034.75 · low ₹220.74
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 217 | 317 | 266 | 287 | 281 | 386 | 316 | 309 |
| EBITDA | -5 | -12 | -35 | -12 | 28 | 97 | 107 | 45 |
| OPM % | -2.3% | -3.7% | -13.2% | -4.3% | 10.0% | 25.2% | 33.7% | 14.5% |
| Other income | 27 | 27 | 10 | 53 | 26 | 16 | 19 | 32 |
| Net profit | 67 | -19 | 164 | 35 | 32 | 72 | 113 | 54 |
| EPS (₹) | 9.95 | -2.76 | 24.43 | 5.16 | 4.81 | 10.75 | 16.84 | 7.99 |
| Revenue YoY | +29.0% | +21.7% | +18.8% | +7.6% | ||||
| Profit YoY | -51.6% | – | -31.1% | +54.8% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,620 | 1,796 | 1,625 | 1,047 | 1,269 | 1,291 |
| EBITDA | -306 | -339 | -231 | -70 | 232 | 277 |
| Net profit | -289 | -441 | -171 | 203 | 253 | 272 |
| EPS (₹) | -42.96 | -65.54 | -25.49 | 30.20 | 37.58 | 40.39 |
| Revenue growth | -31.5% | -9.5% | -35.6% | +21.2% | +18.7% | |
| Profit growth | – | – | – | +24.4% | +9.9% | |
| Dividend / share (₹) | 1.00 | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -10.9% | -17.6% | +18.7% |
| Net profit | – | +29.1% | +9.9% |
| EPS | – | +29.1% | – |
| Share price | – | – (2y) | +90.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 233 | 69 | 317 | 583 |
| Borrowings | – | 292 | 102 | 0 | 0 |
| Cash & equivalents | – | 222 | 151 | 442 | 430 |
| Total assets | – | 2,864 | 2,581 | 2,012 | 2,138 |
| Fixed assets | – | 41 | 41 | 35 | 25 |
| Capital work in progress | – | 1 | 4 | 4 | 3 |
| Investments | – | 0 | 0 | 30 | 0 |
| Receivables | – | 1,954 | 1,699 | 1,173 | 762 |
| Inventory | – | 88 | 87 | 88 | 150 |
| Payables | – | 788 | 720 | 523 | 553 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 49 | 90 | 173 | 320 | 469 |
| Cash from investing | -8 | 6 | -7 | 54 | -436 |
| Cash from financing | -79 | -48 | -240 | -66 | -47 |
| Capex | 4 | 3 | 6 | 5 | 2 |
| Free cash flow | 45 | 87 | 167 | 314 | 467 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -189.5% | -249.0% | 64.1% | 43.4% |
| ROCE % | – | -52.2% | -64.6% | -4.2% | 57.4% |
| Debtor days | – | 397 | 382 | 409 | 219 |
| Inventory days | – | 23 | 25 | 46 | 71 |
| Payable days | – | 205 | 210 | 271 | 264 |
| Cash conversion cycle (days) | – | 215 | 197 | 184 | 26 |
| Working capital days | – | 20 | -16 | 71 | 139 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 68.58% |
| FIIs | 0.74% |
| DIIs | 0.70% |
| of which Mutual funds | 0.12% |
| of which Insurance | 0.21% |
| Government | 0.39% |
| Public (non-institutions) | 29.61% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 68.58% | 68.58% | 68.58% | 68.58% | 68.58% | 68.58% | 68.58% | 68.58% |
| Promoter group | % |
|---|---|
| GE Steam Power International BV (formerly GE Power India Tracking BV) | 68.58% |
| NTPC GE Power Services Private Limited | 0.00% |
| GE Power Boilers Services Limited | 0.00% |
| GE Renewable Holding B.V. | 0.00% |
| GE Power Global B.V. | 0.00% |
| GE Power Netherlands B.V. | 0.00% |
| GE Vernova Holdings LLC | 0.00% |
| GE Vernova Inc. | 0.00% |
| GE Power Service Korea Ltd. | 0.00% |
| GE Steam Power FZ-LLC | 0.00% |
| Public holders above 1% | % |
|---|---|
| Aarti Bhatia | 1.12% |
71,741 shareholders. Pledged: 0.00% of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| GVPIL | ₹3,871 cr | 14.3x | 6.7x | 60.4% | 61.4% | 21.4% | -10.9% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-31 | Dividend | Dividend - Rs 7 Per Share |
| 2024-07-16 | Other | Annual General Meeting |
| 2023-08-21 | Other | Annual General Meeting |
| 2022-08-22 | Other | Annual General Meeting |
| 2021-08-02 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2020-09-02 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2019-07-15 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2018-07-12 | Dividend | Annual General Meeting/Dividend- Rs 3 Per Share |
| 2017-07-21 | Dividend | Dividend-Rs 3 Per Share |
| 2016-07-21 | Other | Annual General Meeting |
| 2015-07-14 | Dividend | Annual General Meeting/Dividend - Rs 10/- Per Share |
| 2014-07-17 | Dividend | Annual General Meeting / Dividend - Rs 10/- Per Share + Special Dividend - Rs 4/- Per Share |
| 2013-07-19 | Dividend | Annual General Meeting And Dividend Rs.10/- Per Share |
| 2012-07-17 | Dividend | Annual General Meeting/Dividend Rs 10 Per Share |
| 2011-06-29 | Dividend | Annual General Meeting And Dividend Rs.10/- Per Share |
| 2010-07-09 | Dividend | Dividend-Rs.10/- Per Share |
| 2009-07-13 | Other | Agm/Div-Rs.10/- Per Share |
| 2008-07-15 | Other | Agm/Div-Rs.8 Per Share |
| 2007-07-13 | Dividend | Agm/Dividend-100% |
| 2006-07-14 | Other | Agm/Div-Rs.4/- Per Sh |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Construction and Maintenance of Power Plants: Engineering, procurement, construction, erection, commissioning and maintenance of thermal power plants and related utility infrastructure.
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | GVPIL |
| BSE code | 532309 |
| ISIN | INE878A01011 |
| Face value | ₹10.0 |
| Incorporated | 1992-09-02 |
| Website | www.gevernova.com |
| Plants (India / abroad) | 2 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.