AI-generated · cited to primary sources · not investment advice
GE Vernova T&D (522275) May 2025 Filing Analysis
Does management do what it says?
The company confirmed the payment of the 1.3 BINR dividend to shareholders during Q2. (2 met across 2 tracked commitments)
“the Board has recommended a dividend of INR 5 per share. Once approved by the shareholders, that will lead to an outflow of roughly INR 130 crores.”
The company has formalized its capex plan at 2.5 BINR (INR 250 crores), aligning with the upper end of its previous guidance. (1 met across 1 tracked commitment)
“So overall put together, INR 140 crores plus roughly INR 80 crores, we have now announced overall capex in the range of INR 240 crores to INR 250 crores.”
See the full cited Management analysis of GE Vernova T&D
How durable is the business?
The company is seeing massive growth in order intake for integrated solutions and substations, with total order intake for the year growing 86% to 107.8 billion INR. (2 expanding, 1 shifted)
“Order Intake FY 24 57.9 FY 25 107.8 (86% growth)”
See the full cited Business Model analysis of GE Vernova T&D
Where does growth come from?
The order backlog has shown significant acceleration, nearly doubling year-over-year and increasing sequentially, providing high revenue visibility. (2 accelerating, 3 steady across 5 signals)
“Order Backlog 102% FY 24 62.7 FY 25 126.6”
See the full cited Future Growth analysis of GE Vernova T&D
What could break the thesis?
Management indicates that while incremental pricing growth has stabilized, they are now able to pass on raw material price increases to customers. (1 stable)
“If there is an increase in raw material prices, we are able to pass on. But now the incremental growth in pricing is not so much there.”
See the full cited Risk analysis of GE Vernova T&D
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