What was GE Power India's revenue in Q3 FY26?

GE Power India reported revenue of ₹386 Cr in Q3 FY26, a +21.8% change year-over-year.

Did GE Power India management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

GE Power India Q3 FY26 Research Workspace: Revenue ₹386 Cr (+21.8%)

Q: What guidance did GE Power India management give?

Double-digit EBITDA margin target: Management targets normalized EBITDA margin of 10%+ for FY26 and going forward, with Q3 normalized margin at ~14.5%.

Revenue ₹386 Cr +21.8%

EBITDA —

PAT ₹72 Cr

EBITDA Margin —

Duration 73 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

GE Power India delivered a strong Q3 FY26 with revenue of ₹386 crore, up 22% YoY, driven by core services growth of 21% YoY. Profit before tax and exceptional items surged to ₹131 crore from ₹23 crore last year, aided by one-off reversals of ₹84 crore (BHL ECL reversal, JP settlement, LD reversal). Normalized EBITDA margin for the quarter was ~14.5%, with 9-month normalized margin at ~10%. Management reiterated a double-digit EBITDA margin target and guided for 5-8% revenue CAGR over the next two years, as core services mix rises from 60% to 80%. Order book stands at ₹1,671 crore, providing ~2 years visibility. Key risk: FGD market remains stalled post government notification, with no new orders since the policy change.

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Risk Intelligence

FGD market stagnation post government notification

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Quarter Snapshot

Core Services Orders (Q3) ₹136 crore

+21% YoY

Core services orders grew 21% YoY, reflecting successful pivot to high-margin, short-cycle business.

Order Book ₹1,671 crore

-37% vs Mar'25

Decline due to termination of two FGD contracts worth ₹775 crore; provides ~2 years execution visibility.

Non-Japanese Asset Orders Share 53%

+53pp YoY

Over half of core services orders now from non-GE assets, expanding addressable market.

BHL Collections Received ₹216 crore

N/A

Received as of reporting date; total expected collection of ₹340 crore by FY26 end.

Fast read

Guidance and risk preview

Top guidance Double-digit EBITDA margin target

Management targets normalized EBITDA margin of 10%+ for FY26 and going forward, with Q3 normalized margin at ~14.5%.

Top risk FGD market stagnation post government notification

No new FGD orders have been placed since the Ministry notification limiting installations; only ~8 GW of category A remains, with slow progress.