Time period given by analyst is one year when GE T&D India Ltd. price can reach defined target. GE T&D India Ltd., incorporated in the year 1957, is a Mid Cap company (having a market cap of Rs 3463.03 Crore) operating in Power sector.
Financials
For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 638.42 Crore, down -31.66 % from last quarter Total Income of Rs 934.23 Crore and down -1.82 % from last year same quarter Total Income of Rs 650.27 Crore. Company reported net profit after tax of Rs -19.26 Crore in latest quarter.
Investment Rationale
Ordering activity from state governments and green energy corridor tenders are expected to gain traction. Ordering is getting delayed and the large HVDC orders are likely to be awarded only by FY23E-end limiting overall growth in the near term. Given the consequent stress in growth and margins, the brokerage downgrades the stock to ADD (from Buy). It increases valuation multiple to 25x from 23x arriving at target price of Rs149 (earlier: Rs148).
Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2021, while FIIs held 15.2 per cent, DIIs 14.5 per cent and public and other 10 per cent.
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