Street View: Weak orders, margin pressure weigh on GE Vernova T&D India
BUZZ-Street View: Weak orders, margin pressure weigh on GE Vernova T&D India ** Shares of GE Vernova T&D India GETD.NS fall 2.58% to 4,194 rupees
** Co's Q1 net profit rises 24.6% Y/Y, revenue jumps 38% Y/Y
WEAK ORDER INFLOWS, MARGIN PRESSURE CLOUD STRONG EXECUTION
** Jefferies (Hold, PT:4,850 rupees) says Q1 EBITDA missed estimates despite stronger-than-expected sales as weaker gross margins offset the revenue beat; cuts FY27-FY29 EPS estimates by 7%-11% on lower margin assumptions
** Citi (Buy, PT:5,400 rupees) says slower order inflows and delays in large export orders weighed on Q1, lower export execution and higher commodity costs pressured margins
** Nomura (Buy, PT:5,675 rupees) says order inflows fell 30% y/y on weak tendering momentum, but maintains its estimates as management remains confident of achieving its domestic order guidance and mid-20s EBITDA margin
** Macquarie (Outperform, PT:5,470 rupees) says strong domestic execution drove revenue growth, but EBITDA margin fell due to lower export mix and cost inflation
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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