GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid.
Strengths
Its Hosur plant is the first manufacturing unit in the world to have designed, manufactured, and supplied a 1200 kV Capacitive Voltage Transformer. #
GE T&D technology manages around 60% of the energy flow in India. #
Products
It offers a range of products and related services that include power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, Flexible AC Transmission Systems (FACTS), High Voltage DC (HVDC) and maintenance support. #
Manufacturing
It has 6 manufacturing sites #
and 73 project sites. #
Revenue and Customers
Its revenue contribution is the sale of products (40%), execution of contracts for projects and services (58%), sale of services (1.8%). #
Exports contributed to 17.2% of the revenue in FY20. # In FY19 the sales volume decreased because of the HVDC ramp down and the profitability was impacted by the impairment of assets and one-time provisions. #
BPCL, Damodar Valley Corporation, Adani, etc. are some of its customers. #
Financials
There was a reduction in Net Debt by Rs. 270 cr in Q3FY21 #
It received shareholders' approval to double the borrowing limit to Rs 1,000 crore in the 64th AGM FY20. #
Sale of Undertakings
The Company will sell the Global Engineering Operations Division (India for Global) to GE India Industrial Private Limited together with the assets and manpower comprising therein along with its corresponding liabilities on a slump sale basis on Jan 16, 2021 #
It has executed an agreement to sell its undertaking at Naini, Allahabad to Shirdi Sai Electricals Limited, consisting of its rights in the leased land, identified movable and immovable properties, for Rs. 250 million to be received on the date of completion. #
Recent Developments
Eighteen structured process improvement actions, including Lean and Six Sigma projects, contributing to significant operational performance improvement, were successfully executed. #
It has invested 236.8 million invested in R&D.#
Focus
The company will focus on operational excellence including lean implementation #
It is focused on introducing green and digital solutions aimed at making the Indian grid smarter, resilient, and environment friendly.
KFW allocated funds worth 500M$ in 2019 for GEC power evacuation projects. #
Key Managerial Person
Mr. Mahesh Shrikrishna Palashikar was appointed as Chairman with effect from March 1, 2021. #
It appointed Mr. Pitamber Shivnani as Chief Executive Officer for a period of two years and six months with effect from July 1, 2020, up to December 31, 2022 #
Mr. Nagesh Tilwani was appointed as Chief Financial Officer w.e.f. October 1, 2019