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GE Vernova shares hit record high post Q1 results; analysts see more upside
The heavy electrical equipment maker's stock rose 5 per cent to hit an upper circuit of ₹2,597 per share, the biggest intraday gain since July 17 this year. This compares to a 0.02 per cent decline in Nifty 50 as of 10:35 AM.
Shares of the company rose for the second straight day and currently trade at 0.7 times the average 30-day trading volume, according to Bloomberg. The counter has risen 25 per cent this year, compared to a 5 per cent advance in the benchmark Nifty 50. GE Vernova has a total market capitalisation of ₹66,680.92 crore.
GE Vernova Q1 results
The company's standalone net profit soared 116.44 per cent year-on-year (Y-o-Y) to ₹291.20 crore, while revenue from operations rose 38.8 per cent to ₹1,330.13 crore in Q1 FY26, compared with the same period last year. Profit before tax (PBT) also recorded a growth of 116.78 per cent to ₹390.01 crore.
Earnings before interest, tax, depreciation, and amortisation (Ebitda) more than doubled to ₹387.6 crore in the quarter ended 30 June 2025, up 112.73 per cent from ₹182.2 crore in Q1 FY25. The Ebitda margin expanded to 29.1 per cent from 19 per cent a year ago.
The company also reported strong order bookings, which rose 57.28 per cent to ₹1.62 crore in Q1 FY26, compared with ₹1.03 crore in the corresponding quarter last year.
Analysts on GE Vernova Q1 earnings
The company delivered a significant beat in Q1 FY26, with order inflow and execution rising 57 per cent and 39 per cent Y-o-Y, respectively, Nuvama Institutional Equities noted. Operating profit margin (OPM) hit a lifetime high of 29.1 per cent, among the best in the industry, driven by improved gross margins on pricing gains, it said.
Nuvama also sees additional upside from high-voltage direct current (HVDC) opportunities, even as the non-HVDC pipeline continues to grow at 7-8 per cent. The brokerage expects a 30-35 per cent CAGR in order inflow and revenue over FY25-FY28, with OPM stabilising at 20-21 per cent by FY27-FY28 on the back of a 30 per cent export mix.
The brokerage has raised its FY26/FY27 earnings per share (EPS) estimates by 6 per cent and 3 per cent, respectively. The target price was revised upward to ₹3,000 from ₹2,250, and it maintained a 'Buy' rating on the stock.
Analysts at Emkay Global said that GE Vernova's Q1 FY26 performance significantly surpassed both Emkay's and consensus estimates. Emkay views the company as a compelling opportunity for investors seeking exposure to a global transmission and distribution player with a balanced mix of domestic and export orders.
The company is well-positioned to capitalise on the ongoing energy transition, supported by a strong product portfolio and localisation strategy, the brokerage said. Emkay maintains a 'Buy' rating and raises its target price by 32 per cent to ₹2,900, implying a 17 per cent upside.
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