GE Vernova T&D India Limited — Q2FY27 earnings call summary

Filed 05 November 2026 · Official transcript

Q2 FY27 revenue at INR20.3bn, +32% y-y; order intake INR24.4bn, +52% y-y
EBITDA margin at 27.1%, at higher end of mid-20s guidance; PAT 21.3% of revenue
Slight pricing pressure noted; competitive intensity stable
Strong pipeline for HVDC with 2-3 projects expected next year; localization progressing
Data center orders small (<2% backlog), expected to grow from Q4FY27
INR10.1bn cash generated in H1; net zero debt; INR10bn capex underway
Supply chain remains key risk; management confident on backlog conversion
Order backlog steady at INR214.4bn, over 3 years of revenue