GE Vernova T&D India Ltd — earnings calls

GE Vernova T&D India reported full year FY26 revenue of INR62.1 billion, up 45% year-on-year, with EBITDA more than doubling to INR17 billion and Q4 EBITDA margin at a record 27.2%. Order intake for Q4 was INR86.1 billion, up 188% year-on-year, taking the order backlog to INR214.6 billion, and the company ended the year with zero debt and cash surplus of approximately INR25 billion. Management discussed a large VSC-based HVDC order booked from Adani, ongoing export RPT approvals with US and UK entities, and a new capex announcement for disconnector and drive manufacturing capacity in Tamil Nadu.