GE T&D India - Recovery In Growth To Offset Near-Term Stress: ICICI Securities

Electrical power lines and poles. (Photographer: David Paul Morris/Bloomberg).

GE T&D India - Recovery In Growth To Offset Near-Term Stress: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

GE T&D India Ltd., in its Q4 FY21 earnings call, indicated recovery in the overall ordering scenario, led by tariff-based competitive bidding ordering, green energy corridor etc.

There has been easing of competitive intensity in the near term due to non-participation by Chinese companies.

Two high-voltage, direct current orders, one from Leh-Ladakh and other from Rajasthan provide medium- to long-term visibility.

The company has to manage 190 employees and Rs 100 million worth assets of GE grid solutions as majority of minority shareholders voted against the sale of this to the parent for Rs 870 million.

Factoring in margin stress, we cut earnings by 4.6% and 10.1% for FY22E and FY23E, respectively.

Click on the attachment to read the full report:

ICICI Securities GE T&D Company Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.