India · Delayed Price · Currency is INR GE Vernova T&D India Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2025-26 saw 58% revenue growth and EBITDA margin expansion to 26.7%, with a record order book and strong cash position. Export and domestic markets remain robust, and management expects margins at the higher end of mid-20s for the year.
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Q2 saw 39% revenue growth, strong EBITDA margin expansion, and a healthy order backlog, with robust demand in both domestic and export markets. Major CapEx of INR 8 billion was announced, and management expects mid-20s EBITDA margins for the year.
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Q1 FY25-26 saw 39% revenue growth, 57% higher order bookings, and a 1000 bps EBITDA margin expansion, driven by robust demand, strong exports, and operational excellence. Management expects to surpass last year’s 19% EBITDA margin, supported by a healthy backlog and disciplined execution.
Fiscal Year 2025
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Q4 and FY24-25 saw strong revenue and margin growth, with record order intake and backlog. Strategic CapEx will expand HVDC and STATCOM capacity, while stable pricing and robust demand are expected to sustain performance. Dividend and cash deployment remain key priorities.
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Q3 FY25 saw 28% revenue growth and record order backlog, with strong margin expansion and robust cash generation. Export orders and execution are set to rise, supported by a healthy pipeline and ongoing operational efficiency. Pricing power remains firm amid supply chain constraints.
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Q2 FY25 saw record order bookings and revenue growth, with margins and profits sharply higher year-over-year. Export orders surged, and the order backlog reached an all-time high, providing strong revenue visibility. Management expects continued robust performance, supported by a strong pipeline and margin tailwinds.
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Q1 saw 34% revenue growth, a 20.2% EBITDA margin, and a record order backlog, driven by strong domestic and export demand, operational efficiency, and major project wins. Management expects continued margin improvement and robust order inflow.