GE T&D India has reported a 22 per cent order inflow growth in Q2 (July to September) of FY21 as compared to the immediately preceding quarter.
GE T&D India, in an investor presentation, said that it won orders worth Rs.538.90 crore during Q2 (July to September) of FY21. This was nearly 22 per cent higher than the order inflow of Rs.443.20 crore in Q1 (April to June) of FY21.
However, order inflows in Q2 of FY21 were 22 per cent lower than the Rs.690.20 crore worth of orders received in Q2 of FY20.
In the first half (April to September) of FY21, the order inflow stood at Rs.982.10 crore, 11.3 per cent lower than in the same period of FY20.
GE T&D India said that all its 73 project sites are now operational. However, average resource strength is 85 per cent of pre-COVID levels, due to social distancing norms.
The outstanding order book position of GE T&D India, as of September 30, 2020, was around Rs.5,300 crore, representing over 1.5 years of revenue. Besides, the company also held L1 position with respect to orders worth around Rs.500 crore.
Commenting on the company’s performance, Pitamber Shivnani, Managing Director & CEO of GE T&D India Ltd, said, “Q2 of FY 2021 continued to be a tough quarter because of Covid. But I am proud of our team’s effort to quickly spring back into action and putting the operations back on track as the lockdown restrictions started to relax . We are managing through a still-difficult environment with better operational execution across our product lines, and we are on track with our cost and cash actions. While our work continues, we remain focused on selectively acquiring profitable business and then delivering those projects timely with high quality. Our order book remains healthy and we continue to have a solid back log of Rs.52.9 billion.”
The key orders booked during Q2 of FY21, included:
- A 420kV Gas Insulated Substation (GIS) package including transformers and reactors at Dhalkebar in Nepal, for SJVNL Ltd
- Implementation of automation at seven 220kV substations of Odisha Power Transmission Corporation Ltd
- A 66kV GIS substation package at Bhalswa in Delhi for Tata Power Delhi Distribution Ltd
- Two 150 MVA 400kV power transformers at Bikaner, Rajasthan, for Avaada Energy
Orders decision that were delayed in Q2 of FY21, due to COVID-19, are now picking up gradually, GE T&D India said.
(Featured photograph for illustration only)
