FGD regulatory changes reduce addressable market
Government notification in July 2025 exempted Category C plants (over 50% of installed base) from mandatory FGD installation, significantly shrinking the FGD opportunity.
GEPOWERINDIA / Q4-FY26 / risks
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GE Power India · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
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Declining order book may pressure future revenue
Total order book fell 39% YoY to ₹1,628 crore due to FGD contract termination and new build ramp-down, raising concerns about revenue visibility beyond FY27.
Dependence on parent for global expansion limited
Management clarified that GE Power India's mandate is restricted to India and 13 countries for boiler services, and non-GE services are limited to India only, capping international growth.