GE Power India Ltd. (GVPIL) AI Stock Analysis

• Market Cap: ₹27.78B
• Dividend Yield: N/A
• Average Volume (3M): 19.68K
• Price to Earnings (P/E): 7.5
• Beta (1Y): 1.89
• Revenue Growth: -23.00%
• EPS Growth: -195.78%
• Country: IN
• Employees: 1,070
• Sector: Energy
• Sector Strength: 52
• Industry: Engineering & Construction
• EPS (TTM): 10.76
• Shares Outstanding: 67,227,470
• 10 Day Avg. Volume: 5,933
• 30 Day Avg. Volume: 19,676
• PEG Ratio: -63.69
• Price to Book (P/B): 5.41
• Price to Sales (P/S): 1.64
• P/FCF Ratio: 5.39
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: ₹522.00 ▲(53.46% Upside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is driven primarily by mixed fundamentals: improved cash generation and a recent shift to positive net profit are offset by multi-year revenue decline, weak operating margins, and balance-sheet equity erosion. Technicals are strong with a clear uptrend, but overbought indicators raise near-term risk. Valuation is a headwind due to the high P/E and no provided dividend yield.

Positive Factors

Improved cash generation

Sustained improvement in operating cash flow and recent positive free cash flow provide durable internal funding for working capital and selective capex. This strengthens liquidity, supports debt servicing or buyback potential, and cushions the business against cyclical order volatility.

Return to net profitability

A return to positive net margin in 2025 signals a structural inflection from loss-making to profit-generating operations. If sustained, this improves retained earnings, reduces reliance on external financing, and validates operational fixes or pricing gains implemented versus prior years.

Aftermarket recurring revenue

A large installed base and recurring aftermarket services (maintenance, spares, overhauls, long-term service agreements) create stable, higher-margin revenue streams that reduce dependence on new capital projects and smooth cash flow across equipment cycles.

Negative Factors

Multi-year revenue decline

Sustained revenue contraction over multiple years reduces scale economics, compresses fixed-cost absorption, and limits ability to invest in R&D or service expansion. Continued top-line erosion undermines long-term growth prospects and increases sensitivity to competitive displacement.

Weak operating margins

Persistent negative EBIT/EBITDA margins indicate structural cost or execution issues in project delivery and product mix. Until margins recover sustainably, profitability is vulnerable to pricing pressure and contract overruns, limiting cash available for reinvestment and deleveraging.

Equity erosion & high liabilities

Significant equity reduction and still-elevated liabilities weaken the capital buffer, reducing financial flexibility for large project bonds or downturns. Even with improved debt ratios, low equity increases refinancing and solvency risk and constrains strategic investments.

GE Power India Ltd. Business Overview & Revenue Model

Company Description

GE Power India Limited engages in the engineering, procurement, manufacturing, construction, maintenance, and servicing of power plants and power equipment in India and internationally. The company offers boilers, mills, air quality control systems, hydro and gas power systems, and automation and control systems. It also engages in the construction of industrial and non-industrial plants, structures, facilities, and other projects. In addition, the company provides architectural and engineering services; and manufactures steam generators. It serves cement; iron and steel; chemical and fertilizer; oil and gas; and pulp and paper industries. GE Power India Limited was incorporated in 1992 and is based in Noida, India. GE Power India Limited operates as a subsidiary of GE Steam Power International B.V.

How the Company Makes Money

GEPIL generates revenue through multiple streams, primarily from the sale of power generation equipment, including gas turbines, steam turbines, and generators. The company also earns income from providing maintenance and repair services for these products, ensuring reliable operation for its clients. Additionally, GEPIL engages in long-term service agreements that provide recurring revenue through ongoing support and parts supply. The company benefits from strategic partnerships with various stakeholders in the energy sector, including government bodies and private enterprises, which enhances its market presence and creates opportunities for large-scale projects. Furthermore, GEPIL's focus on digital solutions and energy efficiency technologies positions it to capitalize on the growing demand for smart energy systems, contributing to its overall earnings.

GE Power India Ltd. Financial Statement Overview

Summary

Income statement trends are weak (multi-year revenue decline and recent negative EBIT/EBITDA margins), but 2025 shows a return to positive net margin. Balance sheet leverage has improved, yet equity has fallen and liabilities remain high. Cash flow is the main support, with improved operating cash flow and positive recent free cash flow, though volatility remains a risk.

Income Statement

The company has experienced a consistent decline in revenue from 2021 to 2025, with a significant drop in profitability. The net profit margin turned positive in 2025 after several years of losses, indicating a potential turnaround. However, negative EBIT and EBITDA margins in recent years highlight ongoing operational challenges.

Balance Sheet

The company's debt-to-equity ratio has improved, reflecting reduced leverage. However, equity has declined significantly over the years, reducing the equity ratio. The return on equity was positive in 2025, signaling some improvement in financial efficiency, but overall balance sheet strength remains a concern due to high liabilities.

Cash Flow

The company has shown significant improvement in operating cash flow since 2022, with positive free cash flow observed in recent years. The free cash flow to net income ratio is strong, suggesting effective cash generation relative to net income. However, the historical volatility in cash flow remains a risk factor.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2021
Income Statement
Total Revenue	9.67B	10.47B	10.46B	10.35B	17.88B	26.15B
Gross Profit	2.01B	931.90M	3.27B	2.03B	3.58B	4.75B
EBITDA	921.70M	11.60M	-844.50M	-566.50M	-2.48B	-1.64B
Net Income	2.13B	2.03B	2.03B	-4.41B	-4.41B	-2.89B
Balance Sheet
Total Assets	0.00	20.12B	25.81B	25.81B	28.64B	34.58B
Cash, Cash Equivalents and Short-Term Investments	4.38B	4.42B	1.39B	1.39B	1.65B	1.65B
Total Debt	0.00	288.30M	288.30M	1.63B	3.59B	3.88B
Total Liabilities	-3.17B	16.96B	16.96B	25.12B	26.31B	27.82B
Stockholders Equity	3.17B	3.17B	688.10M	2.33B	6.76B	9.72B
Cash Flow
Free Cash Flow	-337.30M	3.18B	1.67B	869.90M	443.90M	-4.81B
Operating Cash Flow	-330.30M	3.23B	1.73B	897.80M	897.80M	-4.78B
Investing Cash Flow	-2.91B	467.30M	-73.50M	62.00M	62.00M	633.40M
Financing Cash Flow	-61.80M	-621.40M	-2.40B	-480.40M	-480.40M	2.54B

GE Power India Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 340.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GVPIL, the sentiment is Positive. The current price of 340.15 is below the 20-day moving average (MA) of 452.81, below the 50-day MA of 390.16, and below the 200-day MA of 342.33, indicating a neutral trend. The MACD of 6.37 indicates Positive momentum. The RSI at 44.82 is Neutral, neither overbought nor oversold. The STOCH value of 12.47 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GVPIL.

GE Power India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
POWERINDIA	73 Outperform	₹1.08T	78.05	―	0.03%	16.49%	245.51%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
IREDA	62 Neutral	₹310.42B	16.79	―	―	33.44%	17.49%
GVPIL	60 Neutral	₹27.78B	7.47	―	―	-23.00%	-195.78%
INOXGREEN	54 Neutral	₹54.44B	79.81	―	―	24.33%	66.14%
SWSOLAR	43 Neutral	₹37.05B	-446.21	―	―	112.24%	-474.43%