GE T&D India Ltd., incorporated in the year 1957, is a Mid Cap company (having a market cap of Rs 3630.74 Crore) operating in Power sector.
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 934.23 Crore, down -11.61 % from last quarter Total Income of Rs 1057.00 Crore and up 33.75 % from last year same quarter Total Income of Rs 698.47 Crore. Company reported net profit after tax of Rs 16.11 Crore in latest quarter.
Factoring in weak order intake and margin stress, the brokerage cuts FY21E earnings by 29.5% and improved cashflow to support marginal 3.3% increase in FY23E earnings. Given healthy cashflow, expected recovery in order intake and margins, the brokerage maintains BUY rating with a revised target price of Rs166 (earlier: Rs146).
Promoters held 75 per cent stake in the company as of March 31, 2021, while FIIs held 0.5 per cent, DIIs 15.1 per cent and public and others 9.4 per cent.
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