GE T&D India Q4 loss narrows on lower costs

ABB India

23/05/2023 12:21

BENGALURU, May 23 (Reuters) - GE T&D India Ltd  GETD.NS , which manufactures power transmission and
distribution equipment, reported a narrower fourth-quarter loss on Tuesday, as the company kept a tight lid on
expenses.     
    Net loss narrowed to 153.5 million rupees ($1.9 million) for the quarter ended March 31 from 225.3 million
rupees a year earlier. 
    The cost of raw materials fell 20%, resulting in a 16% drop in total expenses. Revenue from operations rose
6.2% to 7.03 billion rupees.
    For further highlights, click (Full Story)
        
    WHY IT MATTERS
    
    GE T&D posted losses consecutively since the September quarter of 2019 before swinging to a profit in the
first quarter of last year. The company reported profits in the last three quarters as its order book slowly
picked up after the COVID-19 pandemic.
    However, with a limited order book on hand, execution continued to be a challenge for the company due to
supply chain disruptions and commodity inflation, analysts at Antique Stock Broking said.
    
    PEERS COMPARISON
    
    
                              Valuation      Estimates (next 12           Analysts' sentiment           
                               (next 12           months)                                               
                               months)                                                                  
                    RIC      PE    EV/EBIT   Revenue   Profit      Mean       # of      Stock to price  Div
                                     DA      growth    growth      rating*    analysts  target**        yield
                                                                                                        (%)
 Cummins India    CUMM.NS   38.85    34.71    13.91       8.49     Hold             13       1.09           1.04
 Ltd                                                                                                    
 Thermax          THMX.NS   42.37    27.95    15.05      32.29     Hold             24       1.03           0.45
 Limited                                                                                                
 ABB India Ltd    ABB.NS    77.08    58.74    21.11      34.07     Hold             23       1.08           0.14
 KEC              KECL.NS   22.85    11.27    15.68      171.03    Buy              21       1.05           0.72
 International                                                                                          
 Ltd                                                                                                    
 ** The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is
trading above the PT
    
    JAN-MARCH STOCK PERFORMANCE
    
    
    
-- All data from Refinitiv

-- $1 = 81.7800 Indian rupees


    



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 (Reporting by Kashish Tandon; editing by Eileen Soreng)
 ((Kashish.Tandon@thomsonreuters.com;))