GE Power

GE Power India on Thursday announced the appointment of Puneet Bhatla, Executive - Business Operations services as its Managing Director effective September 1. "...Puneet Bhatla (Executive - Business Operations services), Ashutosh Gupta (Executive - Sourcing) and Raj Raman (Executive - Project portfolio) designated as 'Senior Management Personnel' have ceased to be the senior management of the company, with effect from September 1, 2024," the company said in a regulatory filing. The company said Bhatla has been appointed as its managing director, subject to approval of members and therefore, Puneet is no longer falling under the definition of "senior management" as per listing regulations.

GE Power India on Friday reported a narrowing of its consolidated loss to Rs 9.53 crore in the June 2024 quarter. The company suffered a consolidated net loss of Rs 135.79 crore in the quarter ended on June 30, 2023, according to a regulatory filing. Total income rose to Rs 465.80 crore in the quarter from Rs 440.28 crore in the same period a year ago. The Quarter Ended (QE) with an order backlog of Rs 3,917 crore up by 15.8 per cent compared to Rs 3,382.3 crore during the quarter ended in June 2023. The first quarter of the financial year 2024-25 started on a positive note with GE Power India's strategy translating into orders and favourable sales mix, Prashant Jain, Managing Director at GE Power India, said in the filing. GE Power India Ltd (GEPIL) is a leading player in the Indian power generation equipment market.

The surge in stock price came after GE Power announced that it has received a letter of Intent from NTPC GE Power Services for a project worth Rs 243 crore

As of 6:39 AM, GIFT Nifty futures showed a slight increase, trading 7 points higher at 23,589.5 from their previous close

GE Power India in an exchange filing on Thursday said it bagged contracts worth Rs 775 crore from Jaiprakash Power Ventures.

GE Power India has turned profitable with a marginal net profit of Rs 37 lakh in December 2023 quarter, supported by a fall in expenses. It had reported a net loss of Rs 139.9 crore in the October-December period of preceding financial year, the company said in an exchange filing on Monday. The company's total income fell to Rs 491.2 crore from Rs 544.5 crore a year ago. Expenses trimmed to Rs 493.1 crore in the reporting quarter from Rs 563.9 crore in the same period last fiscal. In a separate statement, the company said December quarter ended with an order backlog of Rs 3,437.4 crore, down by 14.5 per cent compared to Rs 4,019.7 crore in December 2022. Prashant Jain, Managing Director, GE Power India, said, "In the third quarter of the financial year 2023-24, we continue to see that FGD (flue gas desulfurization) and Hydro PSP (pumped storage project) opportunities are converting to orders slower than anticipated." The services business continues to grow with 56 per cent more o

GE Power India Limited on Tuesday said it received an order worth Rs 10.3 crore from state-owned NTPC. The order is for supply of spares and repair of high power inner casing module, GE Power India said in a BSE filing. The order is to be completed in 10.5 months, the company said. GE is a leading player in engineering, manufacturing, project management and supply of products and solutions for power generation and transmission infrastructure requirements.

GE Power India on Friday reported widening of consolidated net loss to Rs 135.79 crore in the June quarter. It had reported a consolidated net loss of Rs 59.02 crore in the year-ago quarter, according to a regulatory filing. The company's total income declined to Rs 440.28 crore in the first quarter of the current fiscal from Rs 520.01 crore in the same period a year ago. "In the June quarter, we continued to see that the turnaround is taking longer than anticipated... we are seeing a slight ease on the FGD (Flue-Gas Desulfurisation) market, but conversion to orders is still slower than expected," GE Power India Managing Director Prashant Jain said in a statement. The company's revenue is down due to lower orders in previous quarters and project delays, he said and added that efforts on claims settlement are ongoing but it is a long-drawn process.

Thus far in the financial year 2023-24, the stock has outperformed the market by zooming 82 per cent as against 12 per cent rise in the S&P BSE Sensex

GE Power India on Friday said its consolidated net loss narrowed to Rs 129.70 crore in the quarter ended March 2023. It had reported a consolidated net loss of Rs 179.10 crore in the year-ago period, according to a BSE filing. Its total income in the March 2023 quarter stood at Rs 359.43 crore against Rs 618.86 crore a year ago. The consolidated net loss in the fiscal 2022-23 rose to Rs 440.58 crore from Rs 288.82 crore in 2021-22. The total income in the fiscal declined to Rs 1,884.03 crore from Rs 2,758.67 crore in 2021-22. The company's (March) quarter ended (QE) with an order backlog of Rs 3,615.3 crore. "We continue to progress on the turnaround of GE Power India Limited operations, but it is taking longer than expected due in part to the slowdown in the FGD market. The upgrade market has grown in size, but here as well conversion to orders is slower than we anticipated," Prashant Jain, Managing Director of GE Power India, said in a statement. The segment where the company

GE Marine and Hindustan Aeronautics Limited on Tuesday said that have signed a Memorandum of Understanding to explore the expansion of HAL's manufacturing capabilities to include assembly, inspection and testing (AIT) of the LM500 marine gas turbine. Since 1986, HAL's IMGT Division has been providing AIT of GE's LM2500 marine gas turbine, which is installed aboard Indian Navy's P-17, P-17A, and IAC-1 Vessels. As on date, HAL has delivered 22 LM2500 gas turbines for 11 Indian naval vessels. The MOU will explore allowing HAL to perform AIT for GE's LM2500 marine gas turbine for use in an indigenous four mega-watt gas turbine generator for possible installation aboard future Indian naval vessels, a joint statement said.

NTPC Ltd on Thursday said it has inked an agreement with GE Power India Limited to reduce carbon emission from its coal-fired units. This agreement aims at partnering on research, development and engineering of technologies that will enable NTPC to reduce the amount of coal fired at units and gradually replace it by co-firing of carboneous and non-carboneous elements, the power giant said in a statement. Carboneous elements include methanol, carbon-neutral fuel, agri-waste, biomass, while non-carboneous elements are like ammonia. "NTPC Limited and GE Power India Limited sign MoU to reduce carbon intensity from NTPC's coal fired units. This is a first-of-a-kind step for coal fleet decarbonisation in the country," the statement said. The collaboration is to support NTPC in co-firing biomass pellets up to 100 per cent gradually as well as enabling the co-firing of methanol. Ujjwal Kanti Bhattacharya, Director Projects, NTPC Limited, said: "We are looking forward to working with GE Po

GE Power India on Monday reported a consolidated net loss of Rs 112.57 crore in the September quarter. The company had reported a consolidated net profit of Rs 39.33 crore in the quarter ended September 30, 2021, the company said in a regulatory filing. Total income of the company dipped to Rs 460.08 crore in the quarter under review from Rs 790.31 crore in the same period a year ago. The quarter ended with an order backlog of Rs 4,095.8 crore, a statement said. "The second quarter of the financial year 2022-23 was mixed. The quarter was impacted as the company reported negative earnings growth, however, GEPIL is making progress in delivering on the business strategy to grow services, ensure the right mix of EPC & EP projects and grow industrial and private customers," said Prashant Jain, Managing Director, GE Power India. He said orders in the Services business segment are up by 42 per cent compared to the corresponding period of last year combined with good profitability. "We .

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The Indian Navy is considering building a second indigenous aircraft carrier to add to the combat capability

The stock of Solara Active hit a fresh 52-week low of Rs 620.20, down nearly 20 per cent in Friday's intra-day trade, falling 36 per cent in the past two days on the BSE.

ICRA has reaffirmed A-plus rating on GE Power India Ltd (GEPIL) but said the outlook revision to negative from stable on the bank lines is driven by deterioration in credit profile

GE Power India's board on Wednesday approved the acquisition of 50 per cent stake in NTPC GE Power Services Pvt Ltd for Rs 7.2 crore. "Board of directors of GE Power India Ltd in its meeting held today i.e., 14 April, 2021 has approved acquisition of 50 per cent of the issued and paid-up share capital of NTPC GE Power Services Pvt Ltd (NGSL)," a BSE filing said. It also stated that the cost of acquisition or the price at which the shares are acquired is a cash consideration of Rs7,20,00,000. The acquisition of shares of NGSL from GEPower Systems GmbH is a related party transaction as the Company and GE Power Systems GmbH are GE Group Affiliates. The said related party transaction will be at arm's length price. Upon completion of the acquisition of shares from GE Power Systems GmbH, the company would enter into renovation and modernisation of thermal power plants segment and partner with NTPC Limited, which is a PSU and a pioneer in thermal power plants. This investment and JV wi

The company will supply these air quality control systems (AQCS) solutions to NTPC, Hindalco Industries and UP Rajya Vidyut Utpadan Nigam Ltd

Most of the firms that are dependent on government contracts are looking at a dry pipeline in the near term.