The share of the coal power plant operators gained up to 12 percent after the company received two new contracts from Jaiprakash Power Ventures Limited worth Rs 774.9 crore.
With a market capitalization of Rs 2,370.78 crore, the shares of GE Power India Ltd were trading at Rs 352.65 per share, increasing around 6.22 percent as compared to the previous closing of Rs 332 apiece.
According to the company filing, GE Power India Ltd has received two new contracts from Jaiprakash Power Ventures Limited worth Rs 774.9 crore for D&E, Supply, transportation, TFA for erection & commissioning and conducting PGT of Boiler FGD for Bina Thermal Power Plant at Bina.
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Furthermore, the first contract is for Rs 490.5 crore, while the second contract is worth Rs 248.4 crore; the completion duration is 33 months and 30 months, respectively.
Looking at the company’s financials, GE Power India Ltd’s sales decreased by 14% from Rs 532.66 crore in Q3FY23 to Rs 456.22 crore in Q3FY24. During the same time frame, net profit increased by 100% from a loss of Rs 139 crore to a profit of Rs 0.37 crore.
According to recent presentations, the company’s backlog of orders totals Rs 3,437 crores. In Q3FY23, the firm got 62% of its orders from private organizations and 38% from public companies, which shifted to a 60:40 ratio in Q3FY24, with more orders coming from government-owned enterprises.
GE Power successfully completed a 3X200MW steam turbine shafline repair for NTPC-Ramagundam, meeting efficiency performance targets. This enables the power plant to run longer and more efficiently, resulting in decreased coal consumption, cost per MW, and CO2 emissions. These benefits contribute to making coal power more reliable, economical, and sustainable.
The stock has delivered a multi-bagger return of 112.83 percent in the last six months and 229.07 percent in a year. A shareholder’s investment of Rs. 1 Lakh in the company would be worth Rs. 2.29 Lakh in a year.
GE Power India Ltd is a company that provides engineering, procurement, and construction (EPC) services for key equipment in thermal and hydroelectric projects. It is a major player in the Indian power generation equipment market.
Written by:- Abhishek Singh
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