GE T&D India Ltd Stock Analysis

BSE: 522275 | NSE: GET&D | Electric Equipment | Small Cap

BSE Share Price May 17, 17:07
108.20 4.15 (3.99%)

DeciZen - Make an Informed Decision on GE T&D India

Overall Rating

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

FAQs

1. Is GE T&D India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that GE T&D India Ltd is a average quality company.

2. Is GE T&D India Ltd undervalued or overvalued?

The key valuation ratios of GE T&D India Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is GE T&D India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of GE T&D India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of GE T&D India:

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

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 14.8%10.5%12.6%12.5%7.3%5.1%19.4%20.4%-12.1%6.7%-
Value Creation Index 0.1-0.3-0.1-0.1-0.5-0.60.40.5-1.9-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,3113,1523,5243,7113,3034,0524,3324,2193,1593,4523,308
YoY Gr. Rt. %--4.8%11.8%5.3%-11%22.7%6.9%-2.6%-25.1%9.3%-
Adj EPS 5.43.55.15.71.7-1.87.98.8-9.61.5-0.4
YoY Gr. Rt. %--36%47%12%-69.4%-202.3%NA12.3%-208.7%NA-
BVPS (₹) 29.338.148.851.24640.346.555.841.143.943
Adj Net Profit 12982.413014544.7-45.5201226-24637.5-11
Cash Flow from Ops. 202412-141502-90.91881,054-355-260311-
Debt/CF from Ops. 2.41-3.50.6-5.52.80.1-0.2-1.90.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 0.5%0.9%-7.3%9.3%
Adj EPS -13.5%-3.5%-42.9%NA
BVPS 4.6-1-1.96.8
Share Price -3% -22% -22.4% -14.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 17.19.21211.43.6-4.118.117.3-19.83.5-1
Op. Profit Mgn % 10.88.89.49.63.42.96.411-5.34.92.9
Net Profit Mgn % 3.92.63.73.91.4-1.14.75.4-7.81.1-0.3
Debt to Equity 0.70.50.40.20.40.50.10.10.50.2-
Working Cap Days 2874054124104283823943894603590
Cash Conv. Cycle 38485476113112961041721440

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years -7.28%

Net Profit has been subdued in last 3 years -42.94%

Sales growth is not so good in last 4 quarters at 5.41%

Latest Financials - GE T&D India Ltd.

Standalone Consolidated
TTM EPS (₹) -0.4 7.3
TTM Sales (₹ Cr.) 3,308 4,020
BVPS (₹.) 43 0
Reserves (₹ Cr.) 1,050 954
P/BV 2.42 0.00
PE 0.00 14.27
From the Market
52 Week Low / High (₹) 82.00 / 153.85
All Time Low / High (₹) 2.30 / 656.40
Market Cap (₹ Cr.) 2,664
Equity (₹ Cr.) 51.2
Face Value (₹) 2
Industry PE 56.7

Management X-Ray of GE T&D India :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

Analyst's Notes

News

About GE T&D India Ltd

With over 100 years of presence in India, GE T&D India (formerly ALSTOM T&D India Limited) is a leading player in the Power Transmission & Distribution business with a product portfolio ranging from Medium Voltage to Ultra High Voltage (1200 kV) for Power Generation, Utility, Industry and Infrastructure markets. 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. In 2016 the name of the company was changed to GE T&D India as the firm was taken over by US giant General Electric. GE had made an open offer following its $16.9 billion bid to acquire the global energy assets of French multinational Alstom.

Today, GE T&D is the listed entity of GE’s Grid Solutions business in India. With over 100 years of presence in India, GE T&D India is a leading player in the power transmission and distribution business. The company has a predominant presence in all stages of the power supply chain and offers a wide range of products and related services that include power transformers, circuit breakers, gas insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, Flexible AC Transmission Systems (FACTS), High Voltage DC (HVDC) and maintenance support.

Business area of the company

The company provides a versatile and robust range of solutions for connecting and evacuating power from generations sources onto the grid, providing utilities with the tools needed to support the increase in demand swiftly. GE T&D India offers products ranging from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution industry.

Product Portfolio

  • Transformers
  • High Voltage Switchgear
  • Turnkey Solutions
  • Power Electronics
  • Grid Automation
  • Services
  • Software Solutions

Awards and recognitions

  • 2017-18: the service team was recognized as “Engineering Service Provider of the year” in the GMR - IGI Airport Awards 2017, for the operation and maintenance services provided by the Company at the Delhi International airport.
  • 2018-19: Recognized by Sterlite Power for high quality and before time delivery of 400/220 kV GIS substation in Kashmir - part of NRSS29 project
  • 2019-20: Customers experiencing the latest innovations in grid technology at GE’s booth during Gridtech 2019
  • 2019-20: Awarded for ‘Outstanding Contribution in the field of IOT’ at IPPAI Power Awards 2019

Milestones

  • 1878: Creation of Societe 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.
  • 2015-16: Flag-off of 1000th unit of 800kV Current Transformer from Hosur facility.
  • 2016-17: The name of the company was changed to GE T&D India Limited from ALSTOM T&D India Limited, effective August 2, 2016, to reflect its name with that of Promoter group.
  • 2017-18: The company was awarded a 400kV/220kV/132kV turnkey gas insulated substation order by Uttar Pradesh Power Transmission Corporation Ltd. (UPPTCL) at Lucknow Hardoi Road.
  • 2017-18: The company won a contract from HPCL Mittal Energy (HMEL) for development of 400/66kV GIS MRSS (Main receiving substation) at HMEL Bhatinda refinery.
  • 2018-19: The company won a substation order from Power Grid for evacuating 2500 MW of wind power, a part of Green Energy Corridor.
  • 2019-20: The company has won 765 kV AIS S/S at Lakadia & 765 GIS S/S at Vadodara, turnkey projects from Sterlite
  • 2019-20: The company has won the first 765 kV GIS S/S at Phagi in Rajasthan from PGCIL
  • 2019-20: The company has won 765 kV AIS turnkey S/S at Khetri, Bikaner from Adani
Read More Read Less