Q1 2025 Ge Power India Ltd Earnings Call Transcript
Key Points
- GE Power India Ltd (BOM:532309) reported a strong quarter for core services and FGD orders, with significant order intake.
- The company received an FGD order worth about INR775 crores from JP Nigrie and JP Bina.
- The backlog of orders increased to INR3,917 crores as of June 30, 2024, up from INR3,309 crores in March 2024.
- Revenue from operations for the quarter stood at INR430 crores, slightly up from INR424 crores in the corresponding quarter of the previous year.
- The company is focusing on margin-accretive, cash-accretive service business and lower-risk EP projects, aiming for double-digit EBITDA in two years.
- The company reported a loss before tax of INR11 crores for the current quarter, although this is an improvement from a loss of INR136 crores in the corresponding quarter of the previous year.
- The timeline for the installation of FGD equipment has been extended, creating uncertainty in the market.
- The company anticipates a decrease in demand for services from the Center of Excellence due to changes in GE Vernova Hydro Power's strategic focus.
- There is a potential risk of not meeting the 2026 and 2027 deadlines for FGD installations, which could impact future orders.
- The underutilization of the Durgapur facility continues to negatively impact the company's financials, although efforts are being made to improve its load and efficiency.
Ladies and gentlemen, good day, and welcome to the earnings conference call of GE Power India Limited in respect of inter-alia, the financial results for the quarter ended on 30 June 2024.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Prashant Jain, Managing Director of GE Power India Limited. Thank you, and over to you, sir.
Thank you, Lisan, and a very good evening, everyone. A very warm welcome to all of you for joining this call to discuss our financial performance for the quarter ended June 30, 2024. I'm happy to speak to all of you who have shown immense trust in us and our business. I hope you all had a good time to review our results, the investor presentation and the earnings release, which are available on our website as well as the stock exchanges.
For this call, I welcome my team who will join me to answer your queries on various aspects of the business. I have with me Mr. Aashish Ghai, our
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