GE Power India Q4 Review - Healthy Execution, Focus Towards Services: ICICI Securities
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ICICI Securities Report
GE Power India Ltd. reported healthy revenue growth at 27% YoY to Rs 9.3 billion in Q4 FY21 led by strong flue gas desulfurisation order execution.
Company has a robust executable orderbook of Rs 54 billion (~1.5 times trailing twelve months sales) and the order pipeline for flue gas desulfurisation too is promising, as majority of state and private utilities are yet to tender.
The withdrawal of parent from large coal utility projects opens up opportunities for the company to focus on long-term value creation by ramping up the high-margin, high-return on capital employed services business.
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