GE Vernova T&D India Shares Surge Up to 9% on Strong Q4 Earnings, Brokerages Raise Target Prices

GE Vernova T&D India Surges 9% on Strong Q4 Earnings

May 20, 2026

Shares of GE Vernova T&D India (GVTD) rose over 9% to an intraday high of Rs 4,799.90 apiece on May 20, after the company reported a strong set of earnings for the quarter ended March 31, 2026. The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) margin rose 530 basis points to 27.2%.

The company's Q4 net profit nearly doubled to Rs 352 crore in the March quarter, driven by higher revenues. The net profit was Rs 186.49 crore in the year-ago period, as per a regulatory filing. Total income rose to Rs 1,674.24 crore during the quarter from Rs 1,173.65 crore in the same period year ago.

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Brokerages Praise GVTD's Growth Potential

Brokerages were largely bullish on the stock and raised their target prices on GVTD. Motilal Oswal Financial Services (MOFS) expects the company to benefit from its capabilities in advanced transmission technologies. Even though some weakness in domestic orders is expected in the near term, MOFS is confident of GVTD bagging base orders worth Rs 7,000 crore-Rs 8,000 crore from the domestic market excluding high-voltage direct current systems. In the long term, India's targets of 800 gigawatts renewable capacity, 900 GW non-fossil fuel electricity capacity, and over 10 high-voltage direct current projects by 2035 are expected to play positively for the power solutions provider.

Emkay Global Financial Services is also positive on GVTD's growth path. The brokerage revised its earnings per share (EPS) estimates by 7.6% for FY27 and 7.2% for FY28. It also revised its target price higher to INR 4,750 from INR 3,900 while maintaining its "buy" stance.

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GVTD's Financial Health

GVTD's balance sheet remains healthy with a net cash balance of Rs 25 billion, supported by CFO generation of Rs 1,580 crore during the year. A healthy order book mix, sturdy tender pipeline, and focus on margin improvement provide confidence in GVTD's robust earnings growth trajectory. Higher export visibility further adds comfort to our positive view.

At 3:10 pm on May 20, shares of GVTD traded nearly 7% higher at Rs 4,690 apiece on the National Stock Exchange (NSE) and were among the top gainers in the Nifty 200 index.