GE T&D India Q4 Review - Disappointing Quarter: Yes Securities

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Yes Securities Report

GE T&D India Ltd. reported a poor set of numbers, led by weak executional performance owing to pandemic and supply chain issues.

Ebitda slipped into negative owing to elevated commodity prices (impact of Rs 350 million), other items (Rs 200 million impact) and certain non‐recurring expenses.

Order inflows in Q4 FY22 and FY22 declined 10% and 5% YoY, respectively.

As on Q4 FY22 GE T&D India's order book stands at ~Rs 37.2 billion (1.2 times trailing twelve months revenue), providing revenue visibility for one‐two years.

Going forward management expects strong traction with healthy ordering pipeline in renewable and tariff based competitive bidding segments however it would selectively bid for orders with prime focus on profitability.

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