GE Vernova T&D India Reports Robust FY26 Results; Net Profit More Than Doubles, Board Recommends Rs. 10 Dividend

GE Vernova T&D India Limited, formerly known as GE T&D India Limited, delivered a strong financial performance for the quarter and year ended March 31, 2026, with annual net profit more than doubling and revenue from operations recording significant year-on-year growth. The Board of Directors approved the financial results at its meeting held on May 18, 2026, which commenced at 5:28 P.M. (IST) and concluded at 6:29 P.M. (IST). The results were audited by statutory auditors M/s. Deloitte Haskins & Sells, Chartered Accountants, who issued an unmodified audit opinion for the financial year ended March 31, 2026.

Annual Financial Performance

The company's revenue from operations for FY26 rose to Rs. 62,063.1 million from Rs. 42,923.0 million in FY25. Total income, including other income of Rs. 908.4 million, stood at Rs. 62,971.5 million for FY26, compared to Rs. 43,548.9 million in the prior year. Profit before exceptional item and tax for the full year reached Rs. 17,132.9 million, against Rs. 8,196.7 million in FY25. After accounting for an exceptional charge of Rs. 635.7 million related to new labour code provisions, profit before tax for FY26 stood at Rs. 16,497.2 million versus Rs. 8,196.7 million in FY25. Net profit for FY26 came in at Rs. 12,332.5 million, compared to Rs. 6,083.3 million in the previous year.

The following table summarises the key annual financial metrics:

Metric: FY26 (Audited) FY25 (Audited) Revenue from Operations: Rs. 62,063.1 million Rs. 42,923.0 million Other Income: Rs. 908.4 million Rs. 625.9 million Total Income: Rs. 62,971.5 million Rs. 43,548.9 million Total Expenses: Rs. 45,838.6 million Rs. 35,352.2 million Profit Before Exceptional Item & Tax: Rs. 17,132.9 million Rs. 8,196.7 million Exceptional Item (Charge): Rs. 635.7 million — Profit Before Tax: Rs. 16,497.2 million Rs. 8,196.7 million Total Income Tax Expense: Rs. 4,164.7 million Rs. 2,113.4 million Net Profit: Rs. 12,332.5 million Rs. 6,083.3 million Total Comprehensive Income: Rs. 10,476.0 million Rs. 5,813.7 million Basic & Diluted EPS (Rs.): Rs. 48.16 Rs. 23.76

Quarterly Performance — Q4 FY26

For the quarter ended March 31, 2026, revenue from operations stood at Rs. 16,370.8 million, compared to Rs. 11,525.4 million in the corresponding quarter of the previous year and Rs. 17,006.4 million in the preceding quarter ended December 31, 2025. Net profit for Q4 FY26 was Rs. 3,517.7 million, against Rs. 1,864.9 million in Q4 FY25 and Rs. 2,908.0 million in Q3 FY25. Basic and diluted earnings per share (not annualised) for Q4 FY26 were Rs. 13.74, compared to Rs. 7.28 in Q4 FY25.

Metric: Q4 FY26 Q3 FY26 Q4 FY25 Revenue from Operations: Rs. 16,370.8 million Rs. 17,006.4 million Rs. 11,525.4 million Total Income: Rs. 16,742.4 million Rs. 17,193.9 million Rs. 11,736.5 million Profit Before Tax: Rs. 4,687.3 million Rs. 3,897.1 million Rs. 2,561.2 million Net Profit: Rs. 3,517.7 million Rs. 2,908.0 million Rs. 1,864.9 million Basic & Diluted EPS (Rs., not annualised): Rs. 13.74 Rs. 11.36 Rs. 7.28

Exceptional Item — New Labour Codes

The company recognised an exceptional charge during the year related to the Government of India's notification of four Labour Codes on November 21, 2025, consolidating 29 existing labour laws. Based on its assessment, the company made an additional provision of Rs. 693.0 million during the quarter and nine months ended December 31, 2025. Upon reassessment and actuarial valuations performed during Q4 FY26, the impact was reduced by Rs. 57.3 million, which was reversed in the quarter ended March 31, 2026. The net exceptional charge for FY26 stood at Rs. 635.7 million. Given the materiality, regulatory-driven, and non-recurring nature of this impact, the company presented it under "Exceptional item."

Balance Sheet and Cash Flow Highlights

Total assets as at March 31, 2026 stood at Rs. 77,394.3 million, compared to Rs. 46,610.8 million as at March 31, 2025. Total equity increased to Rs. 26,902.9 million from Rs. 17,731.1 million. Cash and cash equivalents at year end were Rs. 15,252.6 million, up from Rs. 4,711.9 million at the start of the year. Net cash flow from operating activities for FY26 was Rs. 17,098.8 million, compared to Rs. 9,035.8 million in FY25.

Balance Sheet Metric: 31 March 2026 31 March 2025 Total Assets: Rs. 77,394.3 million Rs. 46,610.8 million Total Equity: Rs. 26,902.9 million Rs. 17,731.1 million Cash & Cash Equivalents: Rs. 15,252.6 million Rs. 4,711.9 million Trade Receivables: Rs. 21,722.6 million Rs. 14,689.2 million Inventories: Rs. 12,276.8 million Rs. 7,035.2 million

Dividend Recommendation and Record Date

The Board of Directors has recommended a final dividend of Rs. 10 per equity share (face value of Re. 2 each), representing 500% of face value, for the financial year ended March 31, 2026. The dividend is subject to approval by shareholders at the ensuing Annual General Meeting and will be paid or dispatched within 30 days from the date of the AGM, if approved. The record date for determining eligible shareholders has been fixed as August 21, 2026 (Friday).

Dividend Details: Particulars Dividend per Share: Rs. 10/- Face Value per Share: Re. 2/- Dividend Rate: 500% Record Date: August 21, 2026 (Friday) Subject to: Shareholder approval at AGM

The company operates within a single business segment covering products, projects, and systems for electricity transmission and related activities, as per Ind AS-108. The financial results were prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013.

The Board of Directors of GE Vernova T&D India Limited held its meeting on May 18, 2026, approving a series of significant governance and leadership decisions. The meeting commenced at 5:28 P.M. (IST) and concluded at 6:29 P.M. (IST), with resolutions covering statutory and cost auditor appointments, as well as key changes to the company's board and senior management.

Auditor Appointments Approved

The board approved the re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants (Firm Registration Number: 015125N), as Statutory Auditors of the company for a second term of 5 consecutive years. The re-appointment is effective from the conclusion of the 70th Annual General Meeting until the conclusion of the 75th Annual General Meeting, subject to shareholder approval at the ensuing Annual General Meeting. Additionally, the board approved the appointment of M/s. Ramanath Iyer & Co., Cost Accountants, as Cost Auditors for Financial Year 2026-27, effective May 18, 2026.

The following table summarises the key details of both auditor appointments:

Parameter: Statutory Auditor Cost Auditor Firm Name: M/s. Deloitte Haskins & Sells M/s. Ramanath Iyer & Co. Firm Registration No.: 015125N — Nature of Appointment: Re-appointment (Second Term) Fresh Appointment Term: 70th AGM to 75th AGM (5 years) Financial Year 2026-27 Effective Date: From conclusion of 70th AGM May 18, 2026 Subject To: Shareholder approval at ensuing AGM —

Deloitte Haskins & Sells is a leading professional services firm with a strong Audit & Assurance practice comprising over 3,500 professionals and offices across 16 cities in India. M/s. Ramanath Iyer & Co. is a New Delhi-based firm of Cost Accountants operating since 1978, with expertise in cost audit and cost and management accounting across manufacturing and service sectors.

Director Re-appointment and New Appointment

The board also approved two significant changes to its leadership composition, both on the recommendation of the Nomination & Remuneration Committee.

Re-appointment of Sushil Kumar as WTD & CFO

Mr. Sushil Kumar (DIN: 08510312) has been re-appointed as Whole Time Director and Chief Financial Officer of the company for a further period of 5 years, effective January 1, 2027, up to December 31, 2031, subject to shareholder approval at the ensuing Annual General Meeting. Mr. Sushil Kumar brings more than 26 years of finance experience, having worked with organisations including GE, Alstom, Areva, and Schneider. He has been associated with the company for 14 years, holding responsibilities across strategy, commercial finance, treasury, turnkey business, and business planning. He is a Chartered Accountant and an alumnus of Shri Ram College of Commerce, University of Delhi. Mr. Sushil Kumar is not debarred from holding the office of director by virtue of any SEBI, Ministry of Corporate Affairs, or any other authority order.

Appointment of Marco Simiano as Additional Director

Mr. Marco Simiano has been appointed as an Additional Director under the category of Non-Executive Non-Independent Director, effective July 1, 2026, subject to the allotment of a Director Identification Number by the Ministry of Corporate Affairs. He will hold office up to the date of the ensuing Annual General Meeting. The board has also recommended his appointment as Director under the category of Non-Executive Non-Independent Director, liable to retire by rotation, for shareholder approval at the ensuing Annual General Meeting.

The following table provides a summary of the director changes approved at the meeting:

Parameter: Sushil Kumar Marco Simiano DIN: 08510312 Pending allotment Designation: Whole Time Director & CFO Additional Director (Non-Executive Non-Independent) Nature: Re-appointment Fresh Appointment Effective Date: January 1, 2027 July 1, 2026 Term: Up to December 31, 2031 Up to date of ensuing AGM Subject To: Shareholder approval at ensuing AGM DIN allotment by MCA; shareholder approval for directorship Relationship with Directors: Not related to any Director Not related to any Director

Mr. Marco Simiano, aged about 50 years and based in Italy, is a senior business executive at GE Vernova with over two decades of international experience in the energy sector. He currently serves as Chief Commercial & Product Officer (CCPO) of Grid Automation at GE Vernova, with responsibility for global strategy and commercial performance in Grid Automation. He holds an M.Sc. in Nuclear Engineering from the University of Palermo, Italy, an MBA (International) from the University of St. Gallen, Switzerland, and a PhD from ETH Zurich, Switzerland. Mr. Marco Simiano is not debarred from holding the office of a director by virtue of any SEBI, Ministry of Corporate Affairs, or any other authority order.

Regulatory Compliance

All decisions were taken pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The requisite disclosures as per the Listing Regulations, read with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, have been filed accordingly. The intimation was signed by Shweta Mehta (Membership No. A18600), Company Secretary & Compliance Officer of GE Vernova T&D India Limited.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.

We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.

Disclaimer:

The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.

This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.

The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.

We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.

This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.

By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.

We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.