Interim report
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• GE VERNOVA October 30, 2026 The Secretary BSE Limited Phiroze Jeejeebhoy Towers, DalaI Street Mumbai-400 001 The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (East) Mumbai-400 051 GE Vernova T&D India Limited (Formerly known as GE T&D India Limited) L31102DL1957PLC193993 Corporate Office: T-5 & T-6, Plot 1-14, Axis House, Jaypee Wishtown, Sector-128, Noida-201304, Uttar Pradesh T +91 120 5021500 Email id: secretarial.compliance@gevernova.com Website: https ://www.gevernova.com/regions/asia/in/gevernova-td- india Code No. 522275 Symbol: GVT&D Dear Sir/Madam, Sub: Outcome of Board Meeting held on October 30, 2026 Pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company, at its meeting held today i.e. October 30, 2026, have inter-alia considered and approved the unaudited standalone financial results for the quarter and half year ended on September 30, 2026 ("Financial Results"). The copies of the aforesaid Financial Results along with Limited Review Report issued by Statutory Auditors of the Company i.e. Deloitte Haskins & Sells, Chartered Accountants, are enclosed herewith as Annexure I. The Board meeting commenced at 3:01 P.M. and concluded at 3:47 P.M. This intimation is also being uploaded on the website of the https://www.gevernova.com/regions/asia/in/Revernova-td-india/Stock-Exchange-Communications. Company i.e. This is for your information and records. Thanking you, For GE Vernova T&D India Limited .\(_ eg f/ Shweta Mehta (Membership No. A18600) Company Secretary & Compliance Officer Contact No.: +91-120-5021500 Regd. Office: A-18, First Floor, FIEE Complex Okhla Industrial Area Phase II, New Delhi – 110020 (India). Tel.: +91-11- 41610660 • GEVERNOVA October 30, 2026 The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai-400 001 Code No. 522275 Dear Sir/Madam, The Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra {East) Mumbai-400 051 Symbol: GVT&D GE Vernova T&D India Limited (Formerly known as GE T&D India Limited) L31102DL1957PLC193993 Corporate Office: T-5 & T-6, Plot 1-14, Axis House, Jaypee Wishtown, Sector-128, Noida-201304, Uttar Pradesh T +91120 5021500 Email id: secretarial.compliance@gevernova.com Website: https://www.gevernova.com/regions/asia/in/gevernova-td india Sub: Outcome of Board Meeting held on October 30, 2026 Pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company, at its meeting held today i.e. October 30, 2026, have inter-alia considered and approved the unaudited standalone financial results for the quarter and half year ended on September 30, 2026 ("Financial Results"). The copies of the aforesaid Financial Results along with Limited Review Report issued by Statutory Auditors of the Company i.e. Deloitte Haskins & Sells, Chartered Accountants, are enclosed herewith as Annexure 1. The Board meeting commenced at 3:01 P.M. and concluded at 3:47 P.M. This intimation is also being uploaded on the website of the https://www.gevernova.com/regions/asia/in/gevernova-td-india/Stock-Exchange-Communications. This is for your information and records. Thanking you, For GE Vernova T&D India Limited c «he Shweta Mehta (Membership No. A18600) Company Secretary & Compliance Officer Contact No.: +91-120-5021500 Company i.e. Regd. Office: A-18, First Floor, FIEE Complex Okhla Industrial Area Phase II, New Delhi -110020 (India). Tel.: +91-11- 41610660
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GE Vernova T&D India Limited (formerly known as GE T&D India Limited) Registcnd Office . A 18, First Floor, Okhla Industrial Area - Phase II, New Delhi 1 10 020 Tel. no. + 91 120 502 1500, Fax no. + 91 120 502 1501 , website : wbw.gc\crno\a.com/regions/in/gc-Id-india.limited C IN: L3 Ilt)2DL1957PLC 193993 Statement of un-audited financial results for the quarter and half year cndcd 30 Sep 2026 S.No. 1 Particulars (All jblures in Rs. MIlIIon. unless otherwIse stated) Sil month ended 1 Year ended 3 r I 30-09-2t12i Un-auditcd Quarter ended 30-116-21126 Un-audited 30-01)-2ll:i Un-audited 31 -113-21)26 1 3 Revenue from operations Other income Total income 20,269.8 503.3 20,773.1 18,361.4 4184 18,779.8 1 5,384.6 186 3 15,570.9 38,63 1 .2 921,7 39,552.9 28,685.9 1 62,063.1 349.3 1 908.4 29,035.2 1 62,971.5(1+2) 4 Expenses (a) Cost of raw material and components consumed and other project related costs (b) Changes in InventorIes of finIShed goods and work -In- progress (c) Employee benefits expense (d) Finance costs (e) Depreciation and amortisation expense (D Other expenses 11,797.7 (552.9) 1 ,379.8 78.3 1 0,897.7 (127.3) 1 , 123.4 34.2 120.8 1,859 7 9,243 6 (568.4) 1,185 8 22. 1 1161 1 ,559.0 22,695.4 (680 2) 2,503.2 1 12.5 (923 8) 2, 158.2 49.6 227 5 3, 152.4 16,458.5 1 35,978.2 (2,009.5 ) 4,472 6 147.5 464.3 6,785.52, 147 8 14,973.1 4,007 5 28,881.6Total expenses 13,908.5 11,558.2 21,122.4 1 45,838.6 5 IP„fit b,f,„ ,,„pti,„,I it,m ,.d t,, (3-4) 5,800.0 4.871.3 4,012.7 10,671.3 7,912.8 1 17,132.9 6 Exceptional item (cr,dit) / charg, ( r,f,r not, 6 ) 635 7 7 1 Profit before tax ($6) 5,800.o 1 4,871.3 1 4,012.7 1 10,671.3 7,912.8 1 16,497.2 8 Income tax expense - Current tax charge / (credit) - Deferred tax (credit) / charge - Tax related to earlier years Current tax charge / (credit) Deferred tax (credit) / charge 1 ,563.9 (77.8) 1,310.6 (69.2) 1,210.1 ( 1 92.2) 2,874 5 ( 147 0) 2,339.3 (333.3) 4,535.4 (370.7) 14.4 (144) 4, 164.7Total income tax expense 1 ,486.1 4,313.9 1 ,241.4 3,629.9 1 ,017.9 2,994.8 2,727.5 7,943.8 2,006.0 Net profit (7-8) 5,906.8 1 12,332.5 10 loth,r ,,mp„h,„,i,, i„,,m, Items that will not be reclassified to profit or loss - Remeasurements of defined benefits obligation (charge) / credit Income tax gain/(expense) relatIng to above Items that WIll be reclassified subsequently to profit or loss - Fair value changes on derivatives designated as cash flow hedges, credit / (charge) (refer note 7) 8,9 161.3 (40.6) (24.5) 6.2 8.9 (24.5) 1 (27.5) 6.9 686. 1 ( 1 72.7) (245.0) 61 7 847.4 (213.3) (1,958.7)1 (2,4533) 493.o 1 6174 11 1 Total comprehensive income for the period / year (9+10 ) 4,441.3 512.1 4,143.3 512 1 2,793.2 512.1 8,584.6 512.1 4,422.8 1 10,476.o 12 Paid-up eq„ity ,h,r, „pital (fac, ,al„e ,fRs.2 pe, ,ha,e) 512.1 1 512.1 13 1 Basic and diluted earnings per share (Face value of Rs. 2 each) ( in Rs.) (not-annualised) to the faccolfljwl g 16.84 14.18 11.70 31.02 23.07 1 48.16 GE Vernova T&D India Limited (formerly known as GE T&D India Limited) Registered Office .A 18, First Floor, Okhla Industrial Area - Phase II, New Delhi 110 020 Tel. no. + 91 120 5021500, Fax no. + 91 120 5021501, website : www.gevernova.com/regions/in/ge-td-india-limited CIN: L31102DL1957PLC193993 Statement of un-audited fincinl results for the quarter and half vcar ended u Sep 2026 (All figures in Rs. Million, unless otherwise stated) S.No. Particulars Six month ended Quarter ended Year ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 Un-audited Un-audited t n-audited Un-audited Un-audited Audited I Revenue from operations 20,269.8 18,361.4 15,384.6 38,63 I 2 28,685.9 62,063.1 2 Other income 503.3 418.4 186.3 921.7 349.3 908.4 3 Total income (1+2) 20,773.1 18,779.8 15,570.9 39,552.9 29,035.2 62,971.5 4 Expenses (a) Cost of raw material and components consumed and other project related costs 11,797.7 10,897.7 9,243.6 22,695.4 16,458.5 35,978.2 (b) Changes in inventories of finished goods and work -in- progress (552.9) (127.3) (568.4) (680.2) (923.8) (2,009 5) (c) Employee benefits expense 1,379.8 1,123.4 1,185.8 2,503.2 2.158.2 4,472.6 (d) Finance costs 78.3 34.2 22.1 112.5 49.6 147.5 (e) Depreciation and amortisation expense 122.4 120.8 116.1 243.2 227.5 464.3 (D Other expenses 2,147.8 1,859.7 1,559.0 4,007.5 3,152.4 6,785.5 Total expenses 14,973.1 13,908.5 11,558.2 28,881.6 21,122.4 45,838.6 5 Profit before exceptional item and tar (3-4) 5,800.0 4,871.3 4,012.7 10,671.3 7,912.8 17,132.9 6 Exceptional item (credit) / charge (refer note 6) - - 635.7 1 Profit before tax (5-6) 5,800.0 4,871.3 4,012.7 10,671.3 7,912.8 16,497.2 8 Income tax expense - Current tax charge / (credit) 1,563.9 1,310.6 1,210.1 2,874.5 2,339.3 4,535.4 - Deferred tax (credit) / charge (77.8) (69.2) (192.2) (147.0) (333 3) (370.7) - Tax related to earlier years Current tax charge/ (credit) - - 14.4 Deferred tax (credit)/ charge (14.4) Total income tax expense 1,486.1 1,241.4 1,017.9 2,727.5 2,006.0 4,164.7 9 Net profit (7-8) 4,313.9 3,629.9 2,994.8 7,943.8 5,906.8 12,332.5 IO Other comprehensive income Items that will not be reclassified to profit or loss - Remeasurements of defined benefits obligation (charge) / credit 8.9 (24.5) 8.9 (24.5) (27.5 - Income tax gain/(expense) relating to above (2.2) 6.2 (2.2) 6.2 6.9 Items that will be reclassified subsequently to profit or loss - Fair value changes on derivatives designated as cash flow hedges, credit/ (charge) (refer note 7) 161.3 686 I (245 0) 847.4 {1,958.7) (2,453.3) - Income tax (expense)/ gain relating to above (40.6) (172.7) 61.7 (213.3) 493.0 617.4 II Total comprehensive income for the period / year (9+10) 4,441.3 4,143.3 2,793.2 8,584.6 4,422.8 10,476.0 12 Paid-up equity share capital (face value ofRs.2 per share) 512.1 512.1 512.1 512.1 512.1 512 1 13 Basic and diluted earnings per share (Face value of Rs. 2 each) ( in Rs.) (not-annualised) 16.84 14.18 11.70 31.02 23.07 48.16 See accompanying notes to the finanal results
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Notes: 1 Statement of assets and liabilities (All fIg)wes in Rs. MIllion unless otherwIse stated) Particulars As at 30 September 2026 Un-audited As at 31 Nlarch 2026 Audited 1 Assets 1 Non-current assets Property, plant and equipment Right of use assets Investment property Capital work-in-progress Intangible assets Financial assets i. Investments ii. Other financial assets Deferred tu assets (net) Non current tax assets (net) Other non-current assets Total non-current assets 3,768.9 150.3 73.9 1,154.5 0.3 3,825.7 215.6 74.2 654. 1 0.8 65.6 2,2 1 1.2 1 ,910.4 4,5 17.0 13,852.1 91.9 2,279.7 1,914.7 3, 142.3 12,199.0 Current assets Inventories Financial assets i. Trade receivables ii.Cash and cash equivalents iii. Bank balances other than cash and cash equivalent 13,602.4 12,276.8 20,477.9 23,855.7 283.3 8,497.9 495.0 5,823.2 73,035.4 21,722.6 15,252.6 24.6 9,710.4 227.0 5,98 1 .3 65, 195.3 v. Other financial assets Other current assets Total current assets Total assets 86,887.5 77,394.3 B 1 Equity and HabiIiHes Equity Equity share capital Other equity T,taI ,q„ity 512.1 32,435.0 32,947.1 512.1 26,390.8 26,902.9 Non-current liabilities Financial liabilities i. Lease liabilities Provisions Total non-current liabilities 44.8 1,590. 1 1 ,634.9 86.7 1 ,485.2 1 ,571.9 3 Current liabilities Financial liabilities i. Borrowings i. Trade payables Total outstanding dues of micro enterprises and small enterprises Total outstarding dues other than micro enterprises and small enterprises ii. Lease liabilities iii. Other financial liabilities 106.4 1,251.8 16,645.4 123.9 3, 148.9 26,059.6 4, 173.1 796.4 52,305.5 53,940.4 86,887.5 1,148.9 14,655.1 153.3 4.302.4 24,229.6 4,086.0 344.2 48,91 9.5 50,491.4 77,394.3 Other current liabilities Provisions Current tax liabilities (net) Total current liabilities Total liabilities Total equity and liabilities Notes: Statement of assets and liabilities (All figures in Rs. Million unless otherwise stated) As at As at S. No. Particulars 30 September 2026 31 March 2026 Un-audited Audited A Assets I Non-current assets Property, plant and equipment 3,768.9 3,825.7 Right of use assets 150.3 215.6 Investment property 73.9 74.2 Capital work-in-progress 1,154.5 654.1 Intangible assets 0.3 0.8 Financial assets i. Investments . . ii. Other financial assets 65.6 91.9 Deferred tax assets (net) 2,211.2 2,279.7 Non current tax assets (net) 1,910.4 1,914.7 Other non-current assets 4,517.0 3,142.3 Total non-current assets 13,852.1 12,199.0 2 Current assets Inventories 13,602.4 12,276.8 Financial assets i. Trade receivables 20,477.9 21,722.6 ii.Cash and cash equivalents 23,855.7 15,252.6 iii. Bank balances other than cash and cash equivalent 283.3 24.6 iv. Loans 8,497.9 9,710.4 v. Other financial assets 495.0 227.0 Other current assets 5,823.2 5,981.3 Total current assets 73,035.4 65,195.3 Total assets 86,887.5 77,394.3 B Equity and liabilities I Equity Equity share capital 512.1 512.1 Other equity 32,435.0 26,390.8 Total equity 32,947.1 26,902.9 2 Non-current liabilities Financial liabilities i. Lease liabilities 44.8 86.7 Provisions 1,590.1 1,485.2 Total non-current liabilities 1,634.9 1,571.9 3 Current liabilities Financial liabilities i. Borrowings 106.4 . i. Trade payables Total outstanding dues of micro enterprises and small enterprises 1,251.8 1,148.9 Total outstanding dues other than micro enterprises and small enterprises 16,645.4 14,655.1 ii. Lease liabilities 123.9 153.3 iii. Other financial liabilities 3,148.9 4,302.4 Other current liabilities 26,059,6 24,229.6 Provisions 4,173.1 4,086.0 Current tax liabilities (net) 796.4 344.2 Total current liabilities 52,305.5 48,919.5 Total liabilities 53,940.4 50,491.4 Total equity and liabilities 86,887.5 77,394.3
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2. Statement of cash flows (All fIgures in Rs. Million unless otherwise stated) Six months ended Six months ended 30 September 2026 30 September 2025 Unaudited Unaudited Cash flows from operating activities Profit before tax Adjustments for: Depreciation and amortization Provision for employee benefits Provision for warranty Provision for Contract loss Provision for litigations Bad Debts written off (net) Finance cost Provision on Doubtful assets (net) Unrealised (gain) / loss on foreign exchange fluctuation (net) Unrealised (gain) / loss on derivatives Loss on sale of property, plant and equipment / assets written off Interest income from financial instruments at amortised cost Interest income Gain on termination of lease Provision on Slow moving inventory (gain) / loss Provision no longer required written back Operating cash flow before movement in working capital Adjustments for changes in assets and liabilities (Increase) / decrease in trade receivables (Increase) / decrease in other assets (Increase) / decrease in inventories Decrease /(increase) in financial assets Increase / (decrease) in trade payables Increase in other current liabilities. provisions and other financial liabilities Cash generated from/(used in) operations Direct taxes paid (net of refund) 10,671.3 7,912.7 227.5 75.5 102.3 243.2 153.6 206.7 (201.8) ( 12.7) 4.0 112.5 (67.8) ( 145.3) (243.7) 0.4 (2.2) (907.2) (0.1) (18.5) ( 12.4) 9,780.1 5.6 49.6 156.2 (7.4) 571.8 1.5 (1.7) (341.7) (60.3) 8,691.6 1 ,308.5 208.9 (1,307.1) ( 146.0) 2,189.4 1,774.2 13,808.0 (2.418.0) (4.766.9) (1,532.7) (2,251.1) 90.9 3.566.5 4, 112.8 7,911.1 (1,860.1 ) Net cash flow from/ (used in) operating activities (A) 11 ,390.0 6,051.0 Cash flow from investing activities (Invest in) / Proceeds from deposit with banks (net) (Acquisition) of property, plant and equipment, capital work in progress and intangible assets including capital advance and capital creditors Inter corporate deposit lended to related party (net) Interest received on deposits with banks and others Net cash (used in)/ flow from investing activities (B) (258.7) ( 15.4) (294.9)(2,080.0) 1,212.5 813.7 (312.5) (545.4) 347.2 (508.5) Cash flow from financing activities (Repayment of) / proceeds from short term borrowings (net) Payment for lease liabilities (including interest) Interest paid on loans / advances Dividend paid 106.4 (80.9) (0.9) (2.560.5) (79.5) (27.1) ( 1 ,280.2) Net cash (used in)/flow from financing activities (C) (2,535.9) (1 ,386.8) Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at beginning of the year Impact of foreign exchange on cash and cash equivalents Cash and cash equivalents at year end 8.541.6 15.252.6 61.5 237855.7 4, 155.7 4.711.9 (12.5) 8,855.1 2. Statement of cash flows (All figures in Rs. Million unless otherwise stated) Six months ended Six months ended 30 September 2026 30 September 2025 Unaudited Unaudited Cash flows from operating activities Profit before tax Adjustments for: Depreciation and amortization Provision for employee benefits Provision for warranty Provision for Contract loss Provision for litigations Bad Debts written off (net) Finance cost Provision on Doubtful assets (net) Unrealised (gain) / loss on foreign exchange fluctuation (net) Unrealised (gain) / loss on derivatives Loss on sale of property, plant and equipment/ assets written off Interest income from financial instruments at amortised cost Interest income Gain on termination of lease Provision on Slow moving inventory (gain)/ loss Provision no longer required written back Operating cash flow before movement in working capital Adjustments for changes in assets and liabilities (Increase)/ decrease in trade receivables (Increase) / decrease in other assets (Increase) / decrease in inventories Decrease /(increase) in financial assets Increase/ (decrease) in trade payables Increase in other current liabilities, provisions and other financial liabilities Cash generated from/(used in) operations Direct taxes paid (net of refund) Net cash flow from/ (used in) operating activities (A) Cash flow from investing activities (Invest in) / Proceeds from deposit with banks (net) (Acquisition) of property, plant and equipment, capital work in progress and intangible assets including capital advance and capital creditors Inter corporate deposit lended to related party (net) Interest received on deposits with banks and others Net cash (used in)y flow from investing activities (B) Cash flow from financing activities (Repayment of) / proceeds from short term borrowings (net) Payment for lease liabilities (including interest) Interest paid on loans / advances Dividend paid Net cash (used in)/flow from financing activities (C) Net increase in cash and cash equivalents (A+B+C) Cash and cash equivalents at beginning of the year Impact of foreign exchange on cash and cash equivalents Cash and cash equivalents at year end 10,671.3 243.2 153.6 206.7 (201.8) (12.7) 4.0 112.5 (67.8) (145.3) (243.7) 0.4 (2.2) (907.2) (0.1) (18.5) (12.4) 9,780.1 1,308.5 208.9 (1,307.1) (146.0) 2,189.4 1,774.2 13,808.0 (2,418.0) 11,390.0 (258.7) (2,080.0) 1,212.5 813.7 312.5 106.4 (80.9) (0.9) (2,560.5) (2.535.9) 8,541.6 15,252.6 61.5 23,855.7 7,912.7 227.5 75.5 102.3 5.6 49.6 156.2 (7.4) 571.8 1.5 (l.7) (341.7) (60.3) 8,691.6 (4,766.9) (1,532.7) (2,251.1) 90.9 3,566.5 4,112.8 7,91 I.I (1,860.1) 6,051.0 (15.4) (294.9) (545.4) 347.2 (508.5 (79.S) (27. l) (1,280.2) (1,386.8 4,155.7 4,711.9 (12.S) 8,855.1
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Notes: Based on the guiding principles given in Ind AS-108 on "operating Segments", the Company's business activity fall within a single operating segment relating to products, projects and systems for electricity transmission and related activities, 4 5 6 The above financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment thereafter The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 30 October 2026. On November 2 1, 2025, the Government of India notified the four Labour codes - The code on Wages, 2019, The Industrial Relations code, The code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the draft rules and FAQs issued by the ministry of labour and employment and best available information/interpretation, the Company estimated the financial impact of Rs. 635.7 million for the financial year 2025-26. TIle Company has been continuously monitoring the developments around new labour codes and shall assess the impact (if any).Considering the materiality, regulatory driven and non - recurring nature of the impact, the company has presented such impact under "Exceptional item". 7 Effective from 1 April 2023, the Company has adopted hedge accounting as per Ind AS 109 – Financial Instruments, in respect of specified highly probable forecast transactions. Consequently, the Company has recognized gain of Rs. 161,3 million for the current quarter, gain of Rs. 686.1 million for the previous quarter ended 30 June 2026 and a loss of Rs. (2,453.3) million for the financial year ended 31 March 2026 on account of change in the fair value of derivatives (i.e. forward contracts) in other comprehensive income, When highly probable transactions become underlying transactions for the financial statements. the amount recognised in other comprehensive income will be reclassed to the profit and loss account with corresponding impact in respective underlying account balances. 8 The Company has no subsidiary/associate/joint venture company(ies), as on 30 September 2026. 9 Previous period/year figures have been re-grouped or reclassified to conform to such current period/year classification. Noida Date: 30 October 2026 Sandeep Zanzaria Managing Director and Chief Executive Officer DIN: 08905291 Notes: 3 Based on the guiding principles given in Ind AS-108 on "operating Segments", the Company's business activity fall within a single operating segment relating to products, projects and systems for electricity transmission and related activities. 4 The above financial results of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment thereafter. 5 The above financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 30 October 2026. 6 On November 21, 2025, the Government of India notified the four Labour codes - The code on Wages, 2019, The Industrial Relations code, The code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the draft rules and FAQs issued by the ministry of labour and employment and best available information/interpretation, the Company estimated the financial impact of Rs. 635.7 million for the financial year 2025-26. The Company has been continuously monitoring the developments around new labour codes and shall assess the impact (if any).Considering the materiality, regulatory driven and non - recurring nature of the impact, the company has presented such impact under "Exceptional item". 7 Effective from l April 2023, the Company has adopted hedge accounting as per Ind AS 109 -- Financial Instruments, in respect of specified highly probable forecast transactions. Consequently, the Company has recognized gain of Rs. 161.3 million for the current quarter, gain of Rs. 686.1 million for the previous quarter ended 30 June 2026 and a loss of Rs. (2,453.3) million for the financial year ended 31 March 2026 on account of change in the fair value of derivatives (i.e. forward contracts) in other comprehensive income. When highly probable transactions become underlying transactions for the financial statements, the amount recognised in other comprehensive income will be reclassed to the profit and loss account with corresponding impact in respective underlying account balances. 8 The Company has no subsidiary/associate/joint venture company(ies), as on 30 September 2026. 9 Previous period/year figures have been re-grouped or reclassified to conform to such current period/year classification. (forrnerl Noida Date: 30 October 2026 Sandeep Zanzaria Managing Director and Chief Executive Officer DIN: 08905291
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Deloitte Haskins & Sells Chartered Accountants 7th Floor Building 1 0 Tower B DLF Cyber City Complex DLF City Phase II Gurugram-122 002 Haryana, India Tel: +91 124 679 2000 Fax: +91124 679 2012 INDEPENDENT AUDITOR'S REVIEW REPORT ON REVIEW OF INTERIM FINANCIAL RESULTS TO THE BOARD OF DIRECTORS OF GE VERNOVA T&D INDIA LIMITED (formerly known as GE T&D INDIA LIMITED) 1. We have reviewed the accompanying Statement of Unaudited Financial Results of GE Vernova T&D India Limited (formerly known as GE T&D India Limited) (the "Company"), for the quarter and half year ended September 30, 2026 (the "Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "LODR Regulations"). 2. This Statement, which is the responsibility of the Company's Management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. For DELOITTE HASKINS & SELLS Chartered Accountants (Firm's Registration No. 015125N) er Vijay Agarwal Partner Membership No.094468 UDIN: 26094468PBSQNZ7222 Place: Gurugram Date: October 30, 2026