GE Power India Ltd has reported a 15 per cent year-on-year growth in Q4 (January to March) of FY24. However, the cumulative order inflow in FY24 was down 19 per cent.
In an investor presentation, GE Power India said that it received Rs.262 crore worth of orders in Q4 of FY24 – up 15 per cent from Rs.228 crore in Q4 of FY23. On the other hand, the order inflow in FY24 was down 19 per cent to Rs.1,318 crore from Rs.1,635 crore in FY23.
As of March 31, 2024, the outstanding order book of GE Power India stood at Rs.3,309 crore, down from Rs.3,615 crore as of March 31, 2023.
Here are some highlights:
- The order inflow in FY24 had a 63 per cent share of “services” as against 37 per cent in FY23. GE Power India’s business can be broadly classified into “new build” (greenfield projects) and “services” (relating to existing assets).
- Orders from government sector accounted for 64 per cent of the FY24 order inflow, as against a much smaller 12 per cent in FY23.
- The 19 per cent fall in FY24 order inflow was attributed to lower intake of hydropower-related orders and delay in FGD (flue gas desulphurization) ordering.
- In FY24, orders related to “steam core services” grew by around 40 per cent. This business segment covers parts, service and repair of boiler, turbine, generator, air quality control systems, etc.
- In the “upgrades” business there was an upswing in order during FY24. This line of business includes upgrades of boilers, turbines and air quality control systems.
Also read: GE Power India Wins FGD Orders Worth Rs.750 Crore
Featured photograph (source: GE Power India Ltd, Annual Report, 2022-23) is for representation only.
