GE Vernova T&D India Ltd (GVT&D) — share price & stock analysis

Market cap

₹1,29,702 Cr

P/E

101×

ROE

57.3%

Book value / share

₹105

Revenue (FY26)

₹6,206 Cr

Profit after tax (FY26)

₹1,233 Cr

Weinstein stage

Stage 2 (54 weeks)

Data as of

5 June 2026

6 of the 6 things we track are currently moving the right way — nearly everything is pulling in the same direction.

Where the levels actually stand: ROCE 76% — a high-quality engine; effectively no debt; margins at an all-time high. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.

The price is in a confirmed uptrend — 54 weeks and counting

Stock prices move through four repeating stages: basing (1), advancing (2), topping (3) and declining (4). This one is in Stage 2: advancing, 54 weeks in, confirmed.stage

The price sits above its rising 200-day average (₹3,509 today) and its strength against the index is still improving — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 54 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

From losing money in FY17 and FY20 and FY22 and FY23 to record profits

Over 12 years, sales went from ₹3,524 Cr to ₹6,206 Cr (about 5% a year), and profit from ₹117 Cr to ₹1,233 Cr.revenuenet_profit

The books show real losses in FY17 and FY20 and FY22 and FY23 (worst: ₹−303 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit

Sales exploded 42% last quarter — growth every single quarter for over 2 years

Mar 26 sales were ₹1,637 Cr, up 42% on the same quarter last year.revenue

That makes 10 quarters of growth in a row — this is a trend, not a blip.revenue

Margins are widening — 22% → 27% in a year

Of every ₹100 of sales, the company keeps ₹27.2 as operating profit (a year ago it kept ₹21.9).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at −2.9% in FY22 and has been rebuilt to 27.1% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

The gross margin moved the same way (42% → 47%), so this is about input costs and pricing power — the raw-material equation improved.gpm_pctopm_pct

Profit exploded 89% — mostly from selling more

Mar 26 profit after tax was ₹352 Cr, up 89% year on year.net_profit

The profits are real — they turn into cash

Over the last 3 profitable years, the business reported ₹2,022 Cr of profit and collected ₹3,132 Cr of operating cash — about 155% conversion (2 loss years excluded — a negative denominator would flatter the ratio).operating_cash_flownet_profit

One asterisk on that strength: suppliers are being paid 24 days later than a year ago (146 → 170 days). Cash flattered by stretching payables is real cash — but it is borrowed timing, not extra earning power.payable_days

The cash cycle is stretching — more money stuck in the pipeline

One rupee now takes about 90 days to go out the door as materials and come back as collected cash — up from 79 days the year before.cash_conversion_cycle

The biggest mover: inventory sitting longer in the warehouse (100 → 132 days).inventory_days

Building hard — new capacity is under construction

The productive asset base has gone from ₹639 Cr (FY14) to ₹412 Cr, with another ₹65.0 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 16% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is self-funded: the last 3 years' investing outflow (₹1,178 Cr) fits inside the operating cash the business generated (₹3,132 Cr).investing_cash_flowoperating_cash_flow

Almost no debt — this company cannot be killed by a bad year

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹1 — total borrowings have shrunk from ₹493 Cr to ₹24.0 Cr over the window.borrowings

Every ₹100 kept in the business now earns ₹76 — and the number is rising

Return on capital employed is 76.0% (a year ago: 55.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Rising returns on capital while growing is the rarest combination in investing — it means the new projects earn more than the old ones.roce_pct

Promoters have trimmed their stake — 24 points over 8 quarters

Promoters hold 51.0% (down 24 points over 8 quarters). Foreign funds own 20.4%, domestic funds 21.4%.promoters_pctfiis_pctdiis_pct

Domestic funds tell the real story: they sold from 16.5% down to 15.0% (Jun 24), and have been buying back since — now 21.4%. A completed round trip like that usually means the doubts got answered.diis_pct

Worth studying deeper — with eyes open

The numbers lean positive, and the price is roughly fair to the delivery so far.

Best thing in the data: free cash flow rising (₹409 Cr → ₹1,199 Cr).operating_cash_flow

Biggest worry: domestic-fund holding falling (28.2% → 21.4%).diis_pct

One dissent worth hearing: our valuation lens reads negative — “its fair-value math says the price sits about 63% above what the numbers justify”. When a lens disagrees with the committee, it is usually pointing at the thing that breaks first.

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data