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GE T&D India Ltd. Stock Analysis

Small Cap
Evaluated by 1333 users | BSE: 522275 | NSE: GET&D |
Electric Equipment
Alstom T&D previously known as Areva T&D India, incorporated in 1957 as English Electric Company, is engaged in power transmission and distribution. In 2004 Alstom T&D joined the AREVA group, to form AREVA T&D. The company is among the top three global players in the...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
GE T&D India Ltd. has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation
 Dec'10Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 15.13%14.75%10.48%12.63%12.54%7.32%5.09%19.39%20.41%-12.13%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 4,0203,3113,1523,5243,7113,3034,0524,3324,2193,159
Y-o-Y Gr. Rt.--17.6%-4.8%11.8%5.3%-11%22.7%6.9%-2.6%-25.1%
Adjusted EPS (Rs.) 8.965.393.455.075.681.74-1.787.868.83-9.6
Y-o-Y Gr. Rt.--39.8%-36%47%12%-69.4%-202.3%NA12.3%-208.7%
Book Value per Share (Rs.) 41.929.3138.0548.7551.2146.0240.3446.4655.7741.07
Adjusted Net Profit 21412982.413014544.7-45.5201226-246
Net Op. Cash Flow (Rs. Cr.) 109202412-141502-90.91881,054-355-260
Debt to Cash Flow from Ops 8.192.351.01-3.50.56-5.542.750.09-0.23-1.89
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
GE T&D India Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -2.6%-3.2%-8%-25.1%
Adjusted EPS -200.8%-211.1%NA-208.7%
Book Value per Share -0.2-4.30.6-26.4
Share Price -10% -31.2% -41% -59.9%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Dec'10Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 22.9317.139.2312.0211.353.59-4.1118.1217.27-19.83
Operating Profit Margin (%) 11.7710.88.849.399.553.372.856.3510.99-5.34
Net Profit Margin (%) 5.333.892.613.683.921.35-1.124.655.36-7.78
Debt to Equity 0.890.680.460.40.210.430.50.080.060.47
Working Capital Days 280287405412410428382394389522
Cash Conversion Cycle 623848547611311296104172
Entity Percentage Holding
Promoters 75.00%
Institutions 16.03%
Non-Institutions 8.97%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of GE T&D India Ltd. and arrived at the following conclusion:

Past 10 year's financial track record indicates that GE T&D India Ltd. is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of GE T&D India Ltd.'s performance infers:

GE T&D India Ltd. earnings have declined by -211.1%, whereas share price has depreciated -31.2% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of GE T&D India Ltd. share prices over the last 10 years. Here is what we found out:

GE T&D India Ltd. share price has depreciated -12.2% annually over the past ten years.

Alstom T&D previously known as Areva T&D India, incorporated in 1957 as English Electric Company, is engaged in power transmission and distribution. In 2004 Alstom T&D joined the AREVA group, to form AREVA T&D. The company is among the top three global players in the transmission and distribution segment.

Areva T&D’s leading position in today's energy market and growing worldwide presence is the result of 125 years of

Alstom T&D previously known as Areva T&D India, incorporated in 1957 as English Electric Company, is engaged in power transmission and distribution. In 2004 Alstom T&D joined the AREVA group, to form AREVA T&D. The company is among the top three global players in the transmission and distribution segment.

Areva T&D’s leading position in today's energy market and growing worldwide presence is the result of 125 years of pioneering innovation, technological expertise and an unwavering commitment to quality and customer service. As a world leader, Areva T&D’s teams provide reliable, efficient and environmentally friendly transmission and distribution solutions to improve network stability and make electricity available everywhere.

The company is having over 100 years of expertise and dedication in bringing power to people worldwide. From rural electrification to turning the wheels of industry and facilitating the trading of energy, it brings power to the projects.

Its products and systems serve to transmit and distribute electricity, ensure the reliability, quality and safety of energy flows, as well as operate efficient networks through information management.

The company is present at all stages of the supply power chain, from the generator to the large end-user, backed by a comprehensive services portfolio.

As a solution provider, it brings together and optimizes different disciplines, T&D businesses and third-party suppliers, to address the specific problems, however complex, and add value to the business. It brings solutions that draw upon market segment expertise and are price-competitive.

It is one of the world’s leading T&D companies having over 25,000 employees located in more than 30 countries, with a dedicated sales force serving customers in over 100 countries.

Products and services offered by the company

Areva T&D provides comprehensive electrical solutions for utilities and electro-intensive industries. It builds high- and medium-voltage substations and develops technologies to manage power grids worldwide

  • Transmission- It offers an extensive range of safe, top-performing equipment, turnkey systems and integrated services for optimum network management and high-voltage substation operation.
  • Distribution  - It offers Quality, cost-efficient equipment and services that guarantee the secure development and enhancement of your distribution network.
  • Power Generation- AREVA T&D offers solutions for the internal electrical distribution and grid connection of all types of power plant and renewable energies.
  • Oil & Gas- Areva T&D offers safe, reliable electrical products, packages and systems put AREVA T&D at the forefront of solutions adapted to demanding oil and gas industry applications.
  • Mining & Metal - For mining its product packages and turnkey solutions cover main receiving substations, MV switching substations, power and distribution transformers, LV panels, monitoring & control centers and automation systems.
  • Railways - From the National Grid to rail’s OCS (Overhead Catenaries System) or third rail applications, AREVA T&D offers a wide range of equipment and engineering solutions for track power supply of trains, metros and light rail.
  • Industries & Buildings- It offers comprehensive advanced, medium-voltage solutions for safe, reliable electrical distribution of major industrial, commercial and public infrastructures.

Milestones

  • 1878- Creation of Société Alsacienne de Constructions Mécaniques (SACM) in France.
  • 1918- Creation of English Electric Company Ltd. (later known as GEC) in the UK.
  • 1928- SACM merges with Thomson-Houston, forming ALSTHOM SA.
  • 1983- Acquisition of Compagnie Electro-Mécanique.
  • 1986- Acquisition of Sprecher and Schuh's high and medium voltage activities.
  • 1988- Acquisition of the Relays and Instrument Transformers divisions of Schlumberger Industrie. Merger with General Electric Company (GEC) creating GEC-ALSTHOM, later known as ALSTOM.
  • 1996- Acquisition of Allegemeine Electricitäts-Gesellschaft.
  • 1998- Acquisition of CEGELEC T&D.
  • 2004- ALSTOM T&D joins the AREVA group, to form AREVA T&D.
  • 2006- Acquisition of the RITZ Group bringing high voltage instrument transformer expertise.
  • 2007- Acquisition of Passoni & Villa, a high voltage bushings manufacturer. Acquisition of VEI Power Distribution S.p.A., a medium-voltage equipment manufacturer.
  • 2008- Acquisition of Nokian Capacitors Ltd, a Finnish manufacturer with Capacitor and Static VAr Compensator expertise.
  • 2008- Acquisition of  WALTEC, a Brazilian company specialized in dry-type transformers and low and medium voltage switchgear.
  • 2009- Acquisitions of Powermann Limited and RB Watkins Inc reinforcing the global T&D Service offering.
  • 2009- Acquisition of Nxtphase Limited strengthening AREVA T&D's technological position in the Instrument Transformer market.
  • 2010- Areva T&D India has informed that the separation of its transmission and distribution business will be completed between June and September this year.
  • 2011- Areva T&D India has entered into a memorandum of understanding (MOU) with Power Grid Corpoartion of India (PGCIL) to provide ultra high voltage technology for PCGIL’s upcoming 1,200 kV UHVAC national test station at Bina in Madhya Pradesh (MP).
  • 2012- Alstom Group acquired AREVA T&D’s Transmission activities in June 2010. This changed  the business name from AREVA T&D Ltd. to Alstom T&D Ltd.
  • 2014- Alstom successfully completed tests on its high-voltage DC circuit-breaker prototype. The latest series of tests consisted of reproducing the conditions of real actual operational constraints for a high-voltage DC transmission grid.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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