GE Vernova T&D India Limited — Investor Meet, 03-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

GE Vernova T&D India reported strong Q3 FY26 results with orders up 41% YoY to 2,940 Cr and revenue up 58% to 1,700 Cr. Order backlog grew 10% QoQ to 14,380 Cr. PBT surged 2.4x to 460 Cr, with Q3 EBITDA at 26.7%. Management highlighted robust T&D demand driven by India's renewable energy push and HVDC opportunities. The Adani Khavda HVDC order will be booked post-commercial milestones. The company maintains a confident outlook, expecting FY26 EBITDA at the higher end of mid-20s, driven by volume, pricing, and execution gains. FY27 is anticipated to be a stronger year for transmission ordering.