The new order inflow of GE T&D India in FY24 has more than doubled year-on-year.
In a media release, GE T&D India said that order inflows in FY24 (April 1, 2023 to March 31, 2024), the company recorded new order inflows of Rs.57.9 billion – up 112 per cent from the comparable Rs.27.4 billion in FY23.
In FY24, around 68 per cent of the new order inflow was from the domestic market with exports accounting for the remaining 32 per cent.
The order inflow in FY24 was bolstered by Q3 (October to December) when orders worth Rs.23.7 billion were booked. (See table) Orders in this period included a Rs.7.8-billion export mandate from UK Grid Solutions for the supply of an HVDC converter transformer.
The company closed FY24 with an outstanding order book of Rs.62.7 billion as against Rs.37 billion on March 31, 2023.
Of the outstanding order book, as of March 31, 2024, private sector accounted for 63 per cent (or Rs.39.8 billion) while Central government entities had a share of 27 per cent (or Rs.16.6 billion). The remaining 10 per cent came from state government entities.
In Q4 (January to March) of FY24, GE T&D India saw order inflows of Rs.13.3 billion as against Rs.8.7 billion in Q4 of FY23 – an increase of 53 per cent.
Promising Outlook
According to Sandeep Zanzaria, Managing Director & CEO of GE T&D India Ltd, “In the financial year of 2023-24, GE T&D India Ltd achieved a strong turnaround, delivering excellent results on all fronts. We saw a surge in order booking and our backlog improved along with steady growth in revenues and substantial growth in profits and cash. India is poised to witness a very fast growth in electricity demand among major economies over the next decade. With ongoing investments in grid modernization, capacity expansion, and the integration of technologies, the outlook for the country’s transmission segment is promising.”
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Featured photograph shows a 400/200kV air-insulated substation commissioned by GE T&D India for ReNew Power at Koppal in Karnataka.
