GE Power India Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

GE Power India Ltd trades at ₹770, in a confirmed uptrend and 53 weeks into that stage. That is +26.7% against its own 200-day average. It sits at 63% of a 52-week range of ₹282 to ₹1,055. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (5 weeks and counting).

Today the stock is in a confirmed uptrend — week 53 of stage 2, confirmed. At ₹770 it trades +26.7% versus its 200-day average and sits at 63% of its 52-week range (₹282–₹1,055).

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +31% while the NIFTY 500 moved +278% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (5 weeks and counting; last ahead the week of 2026-07-10) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

GE Power India Ltd trades at 14.0× P/E, about the cheapest it has ever traded. Its long-run median P/E is 41.6×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 14.0× is about the cheapest it has ever traded, against a long-run median of 41.6× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

One caveat before moving on: margins are the best this company has ever printed — cheap against its own history on record margins is not the same thing as cheap. If profitability mean-reverts, today's multiple is higher than it looks.

🚨 Why the multiple sits where it does: over the past year annual EPS moved +24.4% against a +128.6% price move — the price outran earnings, pushing the multiple UP its own range.

The price move, decomposed: over 5y, of the +20.2%/yr price move, ~+31.1%/yr came from earnings growth and ~−10.9 pp from the multiple (compressing); over 10y, of the +2.4%/yr price move, ~+9.8%/yr came from earnings growth and ~−7.4 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 75% on reported income across 13 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

At its price on 13 June 2026, GE Power India Ltd was priced for profit growth of about 13.8% a year. The market pays that at 14.0× P/E, the 2nd percentile of its own 10-year range.

What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is the whole of what a buyer is backing. Both readings sit on the same earnings, so they are one reading rather than two.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

GE Power India Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 8 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

4-Factor Sector Score

66.2/100 — rank 1 of 2 in Infra - General · 72% evidence confidence

GE Power India Ltd scores 66.2 out of 100 against the 2 companies it is compared with in Infra - General, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

The four contributions add to the total exactly: 25.3 + 16.9 + 10 + 14 = 66.2. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

GE Power India Ltd reported ₹309 Cr of revenue in the Jun 26 quarter, +7.7% year on year. That is the 7th straight quarter of year-on-year growth. Over 10 years it has compounded at −2.9% a year. The last full year, FY26, came in at ₹1,269 Cr. The last four reported quarters add to ₹1,292 Cr.

FY26 revenue came in at ₹1,269 Cr (+21.2% on the year), capping 10 years at −2.9% compound. The latest quarter (Jun 26) printed ₹309 Cr, +7.7% year on year — the 7th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +19.4% growth against the decade's −2.9% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +18.9% over the last 4 quarters against +12.1%/yr over the last 8 — accelerating.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

GE Power India Ltd's operating margin is 14.0% in the Jun 26 quarter, +14.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −17.0% to 21.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 14.0%, +14.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −17.0%–21.0%, and FY26's 21.0% is the top of that band — a record year.

Why the margin moved: operating margin went +14.5 pp year on year while gross margin went +11.5 pp — the gain came mostly from the gross line: input costs and pricing.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

GE Power India Ltd earned ₹54.0 Cr of net profit in the Jun 26 quarter, +54.3% year on year. Full-year FY26 profit was ₹253 Cr. That is 17.5% of the quarter's revenue. The same quarter a year earlier earned ₹35.0 Cr. 3 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹54.0 Cr, +54.3% year on year. On the full year, FY26 printed ₹253 Cr (+24.6%).

Why profit moved: revenue contributed +7.7% and the margin +14.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit −9.7% vs revenue +19.4%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 70% of GE Power India Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹469 Cr of operating cash against ₹253 Cr of profit. After ₹−12.0 Cr of capital spending, ₹481 Cr was left as free cash.

FY26: operating cash of ₹469 Cr against reported profit of ₹253 Cr, leaving free cash of ₹481 Cr after ₹−12.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 70% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 70%: the cash cycle tightened 147 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

GE Power India Ltd's cash conversion cycle runs −69 days in FY26, down from 78 days in FY21. Capital spending ran ₹−27.0 Cr over the last 3 years. At FY26 sales of ₹1,269 Cr each day of that cycle holds about ₹3.5 Cr, so roughly ₹−240 Cr sits inside the business at any moment.

FY26: debtors at 219 days, inventory at 107 days — roughly 3.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −69 days, tighter than FY21's 78.

The full loop: cash goes out to suppliers and production on day 0; stock waits 107 days to sell; customers pay about 219 days after that; and suppliers themselves are paid at 395 days — netting out to the −69-day cycle.

In money terms: at FY26 sales of ₹1,269 Cr, each day of the cycle holds about ₹3.5 Cr — so the −69-day loop keeps roughly ₹−240 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹−27.0 Cr over the last 3 fiscal years against ₹41.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹3.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

GE Power India Ltd earns a ROCE of 82% in FY26. That is up from a trough of −29% in FY23. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 19.9% net margin on 0.59× asset turns.

FY26 ROCE is 82%, recovered from a FY23 trough of −29% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 19.9% net margin × 0.59× asset turns × 3.67× balance-sheet leverage ≈ 43.1% on equity. Margin is doing the heavy lifting; leverage is a meaningful part of the equation.

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 75% on reported income across 13 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

GE Power India Ltd carries ₹18.0 Cr of borrowings against ₹582 Cr of equity in FY26, a debt-to-equity of 0.03. Operating profit covers the interest bill 8×. Over 5 years borrowings went from ₹453 Cr to ₹18.0 Cr. Capital spending ran ₹−27.0 Cr across the last 3 of those years.

FY26: borrowings of ₹18.0 Cr against equity of ₹582 Cr — a debt-to-equity of 0.03. Operating profit covers the interest bill 8×. Over 5 years borrowings went from ₹453 Cr to ₹18.0 Cr while capital spending ran ₹−27.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 75% on reported income across 13 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 1.9 points of GE Power India Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 1.1% of the company. Foreign institutions moved +0.8 points over the same window, to 1.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −1.9 points over 8 quarters to 1.1%; Foreign institutions: +0.8 points over 8 quarters to 1.2%; Promoters: +0.0 points over 8 quarters to 68.6%.

🚨 Why the register moved: domestic institutions drove it (−1.9 points), absorbed on the other side by foreign institutions (+0.8 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

GE Power India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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