GE T&D India Ltd’s share price fell by 4.6% on Wednesday, August 21, following the company’s announcement that its promoters are considering selling a minority stake from their current 75% holding. In morning trade, the stock was priced at ₹1,725. Over the past year, GE T&D India’s share price has surged five-fold due to consistent order flow and rising income.
On Tuesday, GE T&D India disclosed that GE Grid Alliance BV and Grid Equipments Pvt Ltd are reviewing their shareholding structure to simplify it. The promoter group is evaluating the possibility of selling a minority stake while expressing a strong intention to remain the majority shareholder.
In Q1 FY25, GE T&D India’s net profit increased nearly six-fold to ₹134.5 crore, and revenue grew by 34% year-on-year to ₹958.3 crore. The company’s order backlog reached ₹6,280 crore, up 59% from the previous year, bolstered by an order intake of ₹1,030 crore during April-June.
The stock has risen 407% in the past year and 120% in the last six months, now trading at a trailing P/E multiple of over 161x.
