| Market Cap | ₹5,366.44 CrSmall Cap |
|---|---|
| Revenue TTM | ₹1,269.39 CrAnnual Growth 23.7% |
| 1-Year Return | 124.64% |
| Order from | Dar Al Balad for Contracting and Operations Company Ltd. |
| Execution period | 2.5 Years |
| Deal value | ₹550 Cr |
| Share of market cap | 10.2% |
| Share of annual revenue | 43.3% |
Key highlights
- Cumulative project value is estimated at approximately ₹550 crore
- Contract awarded by Saudi-based Dar Al Balad for Contracting and Operations Company Ltd
- Execution timeline spans a period of approximately 2.5 years
- Scope includes two separate Notices of Award for supply and service components
- Project focuses on technical field advisory and equipment supply for boiler fuel conversion
What Is the Order?
The company has received a formal Notice of Award for the Shoaiba Fuel Conversion Project located in Saudi Arabia. This international mandate is divided into two distinct scopes of work: the supply of necessary equipment and the provision of technical field advisory services. The project specifically targets boiler modifications required for fuel conversion at the Shoaiba site.
Valued at roughly ₹550 crore, the contract will be executed over a 30-month period, reinforcing the company's engineering capabilities in the Middle Eastern energy sector. This engagement represents a significant international export of Indian technical expertise in thermal power plant optimization.
Business Impact
- Provides long-term revenue visibility with an execution cycle of 2.5 years
- Diversifies the order book by increasing the share of international service-led revenue
- Captures higher-margin technical advisory fees alongside traditional equipment supply
- Validates the company's specialized technology in boiler fuel conversion and life extension
- Strengthens the company's track record for future large-scale energy transitions in the GCC region
Financial Context
GE Power India has demonstrated a robust financial trajectory, with trailing twelve-month revenue reaching ₹1,269.39 crore. The company’s annual net profit growth stood at 24.44%, supported by an impressive annual Return on Equity of 43.36%. Currently classified as a strong performer with a high Piotroski Score of 9, the firm has seen its stock price appreciate by over 124% in the last year.
Despite the stock trading at a price-to-book value of 9.21, its Price-to-Earnings ratio of 21.24 remains significantly lower than the industry average of 60.41, suggesting a different valuation profile compared to its peers in the heavy electrical equipment sector.
Industry Landscape
- Global utilities are increasingly pivoting toward fuel conversion to optimize existing thermal assets
- The Middle Eastern power sector is undergoing significant modernization under regional economic visions
- Domestic heavy electrical equipment manufacturers are benefiting from rising export demand for specialized retrofits
- Service-oriented contracts offer more resilient margins compared to new-build utility projects
- Technological expertise in air quality and boiler efficiency remains a key competitive differentiator
| Share price | ₹798.25 |
|---|---|
| Market capitalisation | ₹5,366.44 Cr |
| Revenue (annual) | ₹1,269.39 Cr |
| Net profit (annual) | ₹252.61 Cr |
| Revenue (latest quarter) | ₹316.40 Cr-17.95% vs previous quarter |
| Net profit (latest quarter) | ₹113.21 Cr+56.54% vs previous quarter |
| P/E (TTM) | 21.24×Sector 56.12× |
| Promoter holding | 68.58%0.00% QoQ |
| FII holding | 1.17%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by GE Power India Limited announcing the receipt of an order for the Shoaiba Fuel Conversion Project. Market figures from a third-party data provider.
