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ICICI Securities Report
GE T&D India Ltd. witnessed a 12% YoY drop in revenues to Rs 6.4 billion during Q1 FY21, which was better than expectations.
Higher execution and Rs 120 million in savings from cost-control measures resulted in Ebitda breakeven for the quarter.
The focus on self-reliance and boycott of Chinese equipments are likely to support medium to long term market share under automation, statcom, gas insulated substation (GIS) and transformers.
Despite lockdown-related domestic slowdown, green energy corridor-related order is likely to finalise by September 2020.
Certain state governments like Rajasthan will go ahead with ordering plans. Hence, the ordering activity is likely to bunch up during H2 FY21.
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