Up 50% in May! This T&D stock jumps another 5% to hit new record high. Is it in your portfolio?
The surge in demand for the stock came after the company's March quarter results beat Street estimates, helping it maintain a steady upward trend despite sharp volatility in frontline indices.
Domestic brokerage firms have also raised their target prices for the stock, lending further support to GE Vernova T&D India's ongoing rally. Since the release of its Q4 numbers on May 23 (post-market hours), the stock has jumped 24% in just four trading sessions and has gained 50% in May so far.
For the quarter ended March, the company reported a nearly three-fold jump in net profit to ₹ 186.49 crore, driven by a sharp rise in revenue, which surged to ₹ 1,173.65 crore from ₹ 919.31 crore a year earlier.
For FY25, net profit and revenue grew by 235% and 35.5%, reaching ₹ 608 crore and ₹ 4292 crore, respectively. Operating profit margin for Q4FY25 surged to 21.9%, compared to 12.1% in the same quarter last year, with FY25 closing at a robust 19.1% versus 10.1% in FY24.
In terms of order inflows, the company secured ₹ 30 billion worth of new orders in Q4 — a 125% year-on-year increase — pushing its total order backlog to ₹ 127 billion. This is nearly three times FY25 sales and ensures revenue visibility for the next three to four years.
Following GE Vernova T&D India's strong March quarter results, brokerages have revised their target prices upward. Japanese brokerage firm Nomura raised its target price to ₹ 2,600, up from the earlier ₹ 2,500, while maintaining its 'Buy' recommendation.
Domestic brokerage Nuvama Institutional Equities also raised its target price to ₹ 2,250 per share, retaining a 'Buy' rating. However, the stock has already surpassed this target during its recent rally.
Nuvama highlighted that the company's consistent base order inflow growth of 20–25% per annum, combined with HVDC optionality and sustained operating profit margins of 19.1% in FY25, remains a key growth driver.
The brokerage also pointed to a significant rise in exports, which have increased to approximately 30%, up from 20% two to three years ago. This growth is attributed to larger orders from GE's global group entities and international clients across Europe, the Middle East, Southeast Asia, LATAM, and Australia.
This export momentum is in addition to India's ongoing transmission and distribution (T&D) investment cycle, with the Central Electricity Authority (CEA) planning to spend ₹ 9.15 trillion over FY22–32, including 8–9 HVDC projects.
Of these, equipment orders for at least two HVDC projects are expected within the next 12 months — a development that could position GE Vernova as a major beneficiary in the high-voltage and extra-high-voltage (HV/EHV) segment (220 kV and above), the brokerage added.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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