₹117 to ₹3,685: Power Stock Turns ₹1 Lakh into ₹31.45 Lakh in Less Than 5 Years

Synopsis: A grid modernization company surged over 3,045 percent in five years, turning Rs 1 lakh into Rs 31.45 lakh, backed by strong revenue, profit growth, and robust orders.

The shares of this company, which focuses on accelerating energy transition through Power, Wind, and Electrification segments, are in the spotlight after the stock surges from Rs 117.15 per share on 19th March, 2021 to Rs 3,685 per share on 19th March 2026, delivering a staggering 3,045.54 percent return over the past five years.

With a market capitalization of Rs. 93,390 crore, the shares of GE Vernova T&D India Ltd closed at Rs. 3,680.15 per share, down 1.68 percent from its previous close of Rs 3,743.05 per share.

Stock’s Return over the years

Over the past year, the stock has delivered gains of 138.46 percent, while its five-year return has surged to 3,045.54 percent. It is presently trading around 8.8 percent below its 52-week high of Rs. 3,999.

On 19th March, 2026, the shares of GE Vernova T&D India Ltd closed at Rs. 3,647.40, showing a gain of around 3,045.54 percent compared to the price of Rs. 117.15 on 19th March, 2021. For example, if someone had invested Rs. 1 lakh in the company’s stock 5 years ago, it would have turned into around Rs. 31.45 lakh.

About the Company

GE Vernova T&D India Ltd is the listed entity of GE Vernova’s Electrification segment in India. With over 100 years of presence in the country, GE Vernova T&D India is a leading player in the power transmission and distribution business. With five manufacturing sites, GE Vernova T&D India is future-ready to meet the industry’s growing demand for grid equipment and services.

The company provides a versatile and robust range of solutions for connecting and evacuating power from generation sources onto the grid, and a wide range of products, including power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation, digital software solutions, turnkey substation solutions, FACTS, HVDC, and maintenance support. 

The company has achieved a three-year revenue CAGR of 12 percent and a profit CAGR of 81 percent, maintaining an OPM of 27 percent. With a debt-free balance sheet (excluding Rs 31 crore lease liability), it operates at a ROCE of 54.7 percent and ROE of 40.4 percent, reflecting robust operational efficiency.

Financial Highlights

QoQ View: The revenue from operations grew by 11 percent to Rs 1,701 crore in Q3 FY26 from Rs 1,538 crore in Q2 FY26, and EBIDT grew by 15 percent to Rs 455 crore in Q3 FY26 from Rs 396 crore in Q2 FY26. Accompanied by a net profit decline of 3 percent to Rs 291 crore in Q3 FY26 from Rs 299 crore in Q2 FY26.

YoY View: The revenue from operations grew by 58 percent to Rs 1,701 crore in Q3 FY26 from Rs 1,074 crore in Q3 FY25, and EBIDT grew by 153 percent to Rs 455 crore in Q3 FY26 from Rs 180 crore in Q3 FY25. Accompanied by a net profit growth of 139 percent to Rs 291 crore in Q3 FY26 from Rs 143 crore in Q3 FY25, resulting in an EPS growth of 104 percent to Rs 11.36 per share in Q3 FY26.

Financial Outlook: Management reaffirmed its planned capital expenditure of nearly Rs 1,000 crore, with projects scheduled for phased completion through FY27 and FY28. Margins are expected to remain supported by execution momentum and operating leverage. The company also holds a strong cash balance of around Rs 15.9 billion and operates without debt, ensuring balance sheet strength.

Order book

Order bookings: Inflows remained healthy at Rs 2,940 crore, up 41 percent from Rs 2,080 crore. Domestic demand led momentum, contributing 86 percent of bookings, while international orders accounted for 14 percent, supporting a well-diversified pipeline and sustained execution visibility.

Orders Breakdown by Sector: Order inflows were largely driven by the private sector, which contributed Rs 8,997 crore, accounting for 63 percent of total orders. Central utilities and PSUs added Rs 5,053 crore, forming 35 percent of the mix, while state utilities contributed Rs 334 crore, representing a modest 2 percent, highlighting strong private-led demand momentum.

Shareholding patterns As of December 2025, promoters maintained a 51 percent stake over the past year. FIIs increased their holding from 12.05 percent to 18.46 percent, while DIIs reduced theirs from 28.40 percent to 23.27 percent. Public shareholding also declined from 8.55 percent to 7.26 percent during the year.

GE Vernova T&D India has emerged as a standout multibagger, driven by strong execution, rising order inflows, and robust financial metrics. Its debt-free status, high return ratios, and growing demand for grid infrastructure position it well for sustained growth. While valuations and cyclical risks remain factors to watch, the company’s solid fundamentals and energy transition tailwinds support its long-term investment appeal.

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