Shares of GE Power India Ltd surged 6.23% to Rs 319 today, November 14, after the company reported a strong set of financial results for the September quarter of FY26. The stock opened higher and extended gains following improved profitability and solid order inflows.
GE Power India Limited (GEPIL) posted a 25.6% rise in total income, which increased to INR 3,069.60 million in Q2 FY26 from INR 2,444.50 million a year ago. Profit before tax nearly doubled to INR 461 million, up from INR 244 million in the same period last year. The EBITDA margin improved to 17.7%, compared to 15.2% in Q2 FY25.
On the operational front, the company recorded a 45% quarter-over-quarter growth in orders, driven by its strengthened focus on core services. However, the order backlog declined by 28.7% to INR 18,250 million, primarily due to the termination of two Flue Gas Desulphurization (FGD) EPC contracts worth INR 7,750 million at Jaypee Bina and Nigrie projects.
The company also settled key disputes, including a major agreement with BHEL, under which BHEL will pay INR 3,400 million to GEPIL in phases until March 31, 2026. Contractual issues with JPVL for FGD systems at Bina and Nigrie were also resolved.
Management said the company’s renewed focus on core services and disciplined execution of FGD backlog continue to drive operational gains, even as the lower backlog remains a challenge.
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