About GE T&D India Ltd

GE T&D India Limited (formerly ALSTOM T&D India Limited) is a leading player in the power transmission & distribution infrastructure business. The company has a total of 6 manufacturing sites. It has a portfolio of products, solutions and services, comprising the entire range of transmission equipment up to Extra and Ultra High Voltages (765 kV and beyond), including air-insulated switchgear (AIS) and locally manufactured power transformers and gas-insulated switchgear (GIS). It also provides power electronics solutions to create super highways and offers advanced power management Smart Grid solutions for transmission and distribution including renewable energies integration. The company was incorporated in 13th March of the year 1957 as The English Electric Company of India (EEI). The Company started manufacturing solid-state generators and transformers, vacuum switches and electric motors in collaboration with GEC International Controls, UK and Electroimplex, Bulgaria during the year 1982-83. In 1984, the collaboration agreements were signed with GEC Power Transformers, UK, and Raydne, UK, to manufacture the medical electronic equipment. Another collaboration agreement also signed with GEC Machines, UK, to manufacture hydroelectric generators during the same period. During April of the year 1993, the company name was changed from The English Electric Company of India (EEI) to GEC Alsthom India. Areva T&D came out with a rights issue during July of the year 1994 to fund the normal capital expenditure, and bump up the long-term sources of operational possessions. In July 24th of the year 1998, again the company name was changed to ALSTOM Limited. During the year 1999-2000, two collaboration agreements were entered with Alsthom T&D SA, France for the manufacture of 72.5 KV SF6 Circuit Breakers and 420 KV SF6 Circuit Breakers both operated by spring mechanism. The company made a joint venture with KoCoS Messtechnik of Germany to spun off the energy division. The Company had commissioned the 315 MVA 400 kV Transformer successfully in August of the year 2001. During the year 2002-03, the company had successfully tested the new generation 145 kV circuit Breaker-Types GL312 as per IEC standards and also commissioned the 420 kV Circuit Breaker for the 4500 MW Super thermal Power Plant at NTPC, Talcher. Areva T&D signed a 50million Euro contract with Jayaprakash Power Ventures Ltd India during the year 2003, for the supply of major hydro-generating plant equipment for 400MW and in the same year the company bagged the contract from Hindalco Industries worth of Rs.87cr, also the company received the order worth Rs 500 Cr from GVK Industries. During April of the year 2005, Holdings SA and AREVA T&D SA (Jointly with Areva T&D Holdings SA) has reached an understanding for acquisition of upto 26464400 equity shares (66.35%) held by ALSTOM Holdings in the company for a consideration of Rs.806 Million. Name of the company has been changed from ALSTOM Limited to Areva T&D India Limited effective from 23rd September 2005. During August of the year 2006 the company launched the MiCOM T390 Universal Power Line Carrier (PLC), a comprehensive solution for communication requirements over HV lines. The 33kV Circuit Breakers of the company were successfully type tested in Italy and these are being quoted in the market. Maiden order for Rukmani Power Limited was successfully executed in August of the year 2006. Unit has also commenced export of sub-assemblies and components of HVX Breakers to AGS, Germany. The merger of all T&D entities of AREVA in India has been successfully completed in the year 2006. In 2007, the company bagged 126 M Order from KAHRAMA Water & Electricity, QATAR to supply six Turnkey 66 kV GIS Substations and also 26 M$ Order from Kenya Power & Light for turnkey substations for the distribution network. During the same year 2007, as at 20th January, Areva T&D commissioned the 765 kV Turnkey Substation for NTPC Sipat. The largest Generating Transformer 370 MVA/220 kV delivered to Reliance Energy and also state-of-the-art City Distribution SCADA Systems commissioned in the same year of 2007(9 out of 10 Circles done by AREVA T&D India) for MSETCL- a model for other SEBs to emulate with APDRP 2 funds. In 2007, AREVA T&D India has won the 'Technology (Process) Adaptation, Upgradation, Efficiency and Innovation Award in Transmission and Distribution' for designing, installing and commissioning India's first 765 kV EHV circuit breaker. And also in the same period the company has reached a new milestone with the global product launch of new Air Core Reactors with Multi-Wire Cable Design (MCD). Air Core Reactors provide a linear response of impedance versus current. As at January 2008, the company launched the HYpact & ITR products focus on Packaged Substations. The Company received Best stall Award in 400-sqm+ categories in ELECRAMA 2008. During June of the year 2008, the company inaugurated the new production hall of its Power Transformer Plant located in Monchengladbach (Dusseldorf region, Germany). Also in July 2008, Areva T&D entered into a strategic partnership agreement with NovaTech to distribute the measurement instruments under the MiCOM brand names. The name of the company was changed to ALSTOM T&D India Limited from AREVA T&D India Limited, effective 31 January 2012, to reflect its name with that of the promoter group. During the financial year 2013-14, ALSTOM T&D India inaugurated India's first Digital Substation Automation Competence Centre at Pallavaram, Chennai. The opening of the Competence Centre will allow further advancement of High, Extra High and Ultra High Voltage as well as Renewable Power concept, thus enabling the company to maintain its leadership position in the transmission market. In terms of localisation of large transformers of Extra High Voltage 765 kV, the company achieved a landmark with the flag-off of 100th 765 kV transformer for Power Grid in October 2013 from its Vadodara unit. During the financial year 2014-15, a historical milestone was achieved with the flagoff of the first 'Madeinindia' 800 kV HVDC convertor transformer from the company's world-class power transformer manufacturing facility at Vadodara, in the state of first Gujarat. During the year, the company achieved another milestone by delivering 100th unit of 765kV Shunt Reactor for PowerGrid Varanasi site. The 100 MVAR reactor units were the result of indigenous technology and technical expertise of Vadodara facility. On 2nd November 2015, GE acquired ALSTOM's shareholding in ALSTOM T&D India Limited (ATDIL) as a part of its global acquisition of Energy business activities of ALSTOM. During the year 2015, the Company secured a contract of Rs. 670 million to expand and upgrade the energy management system of India's various control centers in North East India: North Eastern Regional Load Despatch Centre (NERLDC) and seven other Regional Load Despatch Centers (RLDCs). During the year 2015, the Company demonstrated its expertise in execution of turnkey projects by commissioning 51 AIS and GIS substations. The rst 765 kV substation of Rajasthan at Anta was commissioned by Company during the year. Apart from this, turnkey projects were also executed and commissioned for Company's major customers like PGCIL, MSETCL, WBSETCL, GETCO, CSPTCL and APTRANSCO. On 15 June 2016, ALSTOM T&D India announced that it has been awarded two contracts worth over Rs 202 crore from Power Grid Corporation of India Limited for execution of projects in Madhya Pradesh. Both the projects will facilitate evacuation of power and add to availability of electricity in the central region. The Company secured three new contracts worth Rs 2317 million (US$ 35 million) from PowerGrid to supply transformers and shunt reactors for 765/400kV substation situated at Agra in Uttar Pradesh and spare units of 765kV transformers and reactors as part of eastern and southern region strengthening schemes. The products for all these contracts will be delivered from Company's world-class factory at Vadodara in India. The name of the company was changed from ALSTOM T&D India Limited to GE T&D India Limited with effect from 2 August 2016. During the financial year 2016-17, GE T&D India achieved a new milestone by delivering 200th unit of 765kV Shunt Reactor from its world class manufacturing facility at Vadodara. In another important milestone, the company successfully commissioned Pole 1 of Phase 1 of Champa 800 kV Ultra High Voltage Direct Current (UHVDC) project, transmitting 1,500 MW of power from Champa, Chhattisgarh to Kurukshetra, Haryana in March 2017. During the financial year 2016-17, the Company was awarded two contracts by Doosan Power Systems for developing 765kV/400kV Gas insulated substations for 2*660 MW Thermal Power Plants at Jawaharpur and Obra in the state of Uttar Pradesh. These substations will be located at Sonebhadra and Etah and shall contribute significantly towards bringing electricity to state of Uttar Pradesh which is today facing acute power shortage. The products shall be supplied from our local manufacturing facilities at Hosur, Padappai and Vadodara. During the year 2016-17, the Company demonstrated its expertise in execution of turnkey projects by commissioning 40 numbers of AiS and GiS substations. The first 765kV substation of Maharashtra, MSETCL at Aurangabad was commissioned by Company during the year. Apart from this large number of turnkey projects were also executed and commissioned for Company's major customers: Power Grid, MSETCL, WBSETCL, GETCO, APTRANSCO and Megha infrastructure.In FY 2016-17, the Company's transformer factory in Vadodara commissioned 29 units of 765kV iCT/GTs along with 28 units of 765 kV Shunt Reactors. The transformer factory at Naini delivered and commissioned more than 40 units of Transformers & Reactors to more than 20 customers. On 3 November 2017, GE T&D INDIA announced that it has sold its global financial shares services business (hereinafter referred to as GFSS) to M/s GE India Industrial Private Limited together with the assets and manpower comprised therein on a slump sale basis on an 'as is where is' basis for cash consideration of Rs 6.5 crore. GFSS was a non-core business activity for the company and the sale would help management to focus on its core business activities. During FY 2017, the Company executed renovation and modernization across several power generation projects like National Hydro Power Corporation, SJVN And National Thermal Power Corporation. During the year 2017, the Company consolidated its expertise in State Grid networks across the country. Your Company was awarded 400kV/220kV/132kV turnkey gas insulated substation order by Uttar Pradesh Power Transmission Corporation Ltd. (UPPTCL) at Lucknow Hardoi Road. During the year 2017, the Company won several projects across the states of Gujarat, Rajasthan, Telangana, Bihar and Orissa to provide end-to-end turnkey solutions and products for grid strengthening and expansion of inter-intra state grid networks. During the year 2017, the Company demonstrated its expertise in execution of turnkey projects by commissioning 60 numbers of AIS and GIS substations, enabling addition more of than 13 GW power into the Grid. Main success stories were commissioning of Pole 2 (1500 MW) of HVDC at Champa and Kurukhetra, 765kV bay extension projects for Power Grid at Wardha, Vindhyachal, Jaipur and Gwalior within 12 months, completion of 400kV / 220kV Substation including 500 MVA transformer in 4 months, and commissioning of transformer package for L&T Power at Bheramara in Bangladesh. Besides, the Company executed and commissioned large number of turnkey projects for esteemed customers that include Power Grid, Bihar State Power and Transmission Company Limited (BSPTCL), Rajasthan Transmission Co. Ltd (RVPN), Chattisgarh State Power & Transmission Co (CSPTCL), Maharashtra State Electrical Transmission Co. Ltd (MSETCL), Megha Engineering and Infrastructure Ltd (MEIL), Sterlite Energy and others. In FY 2016-17, the Company has been selected by Power Grid to provide 420 kV series reactors for Ballabgarh and Mandala substations of project. During the year 2016-17, the Company achieved a new milestone by delivering 200th unit of 765kV Shunt Reactor from its world class manufacturing facility at Vadodara. The Company successfully commissioned Pole 1 of Phase 1 of Champa 800 kV Ultra High Voltage Direct Current (UHVDC) project, transmitting 1,500 MW of power from Champa, Chhattisgarh to Kurukshetra, Haryana in March 2017. During the year 2016-17, the Company demonstrated its expertise in execution of turnkey projects by commissioning 40 numbers of AIS and GIS substations. Main success stories were commissioning of 765 kV bay extension project for Power Grid at Phagi in record time of 6 months, commissioning of 1st solar project of 1x70 MW at Bhadla for Tata Power in 6 months, and commissioning of 110 kV GIS along with laying of 16 kms of 110 kV cable in Kollam city in record time. Apart from this large number of turnkey projects were also executed and commissioned for Company's major customers, viz Power Grid, Odisha Power Transmission Corporation Limited (OPTCL), West Bengal State Electricity Transmission Company Limited (WBSETCL), Gujarat Energy Transmission Corporation Limited (GETCO), Andhra Pradesh Transmission Company (APTRANSCO) and Megha infrastructure. During the year 2018, the Company was awarded orders for full turnkey basis of 2*40 MW solar in the state of Orissa by Pan India Infra projects. Building on the references in solar execution, the Company also won 4*40 MW Solar projects by Essel in the state of Uttar Pradesh and Orissa. In FY18, the Company won contract from HPCL Mittal Energy (HMEL) for development of 400/66kV GIS MRSS (Main receiving substation) at HMEL Bhatinda refinery. The project encompasses design, engineering, supply, testing and commissioning of 12 * 400kV gas insulated switchgear bays, three phase power transformers and O&M contract post commissioning.

GE T&D India Ltd Chairman Speech

Moving transmission system towards tomorrow’s grids

Alstom Grid has been supplying electrical equipment and solutions to its customers around the world for more than 130 years and has played a key role in the development of the electrical transmission and distribution grids. The Grid Sector designs and manufactures equipment and provides engineered solutions to manage power grids and transmit electricity from the power plant to the large end user, be it a transmission or distribution utility, an industrial process or production facility or an infrastructure. It also provides turnkey power supplies for industrial customers around the world. All of these solutions are designed to maximise energy efficiency while reducing greenhouse emissions. Alstom Grid’s customers range from large utilities and Transmission System Operators (TSO) to local power authorities and Distribution System Operators (DSO). It also serves a large array of specialised industries and infrastructures.

The power generation market has greatly diversified recently with the introduction of renewable energy suppliers such as solar, wind and biomass. In addition, large and small industries and infrastructures have very specific energy requirements for their individual infrastructure or manufacturing plants. Alstom Grid has a wide range of solutions for segments including oil and gas, mines and metal, rail, municipalities, infrastructures, as well as for the power generation market itself. Alstom Grid’s customers rely on its local service centres to maintain and renew their installed base, whether the equipment is provided by Alstom or by a third party.

The solutions developed by Alstom Grid enable the transmission of electricity as efficiently as possible and support the development of the Smart Grid: a real time bi-directional network of energy and information which enhances the reliability and efficiency of the electrical grid.

Alstom also plays a leading role in Supergrid development, which connects renewable energy sources across countries and continents to supply clean energy to the consumer.

ALSTOM T&D India - A market leader in India since 2008

ALSTOM T&D India Limited (ATDIL) is a market leader in the Indian power transmission sector. It has over 100 years of expertise in building the transmission infrastructure for the country and is at the forefront of today’s challenges in energy and the environment. With a strong portfolio of products and solutions, comprising the entire range of transmission equipment up to Extra and Ultra High Voltage (765 kV and beyond) levels including power transformers and gas-insulated switchgear (GIS), ALSTOM T&D India is future ready to build the rapidly evolving transmission sector in India. Our dedicated team of around 3600 professionals contribute to build our reputation as the leading reference in the Grid segment by offering high end, specialised and sustainable solutions in synchronisation with the customers’ requirements. The Company is also committed towards reduction of carbon footprint and hence our installations are also designed in a way to have minimal impact on the environment.

In a rapidly changing market, ALSTOM T&D India offers a comprehensive range of well-established products and services, backed by its technological expertise, its capacity for innovation and its nationwide industrial and technical presence. The Company offers fully localised world class products, services and integrated energy management solutions across the full value chain-from power generation, through transmission and distribution grids to the large end users.

PRODUCTS AND SOLUTIONS

ALSTOM T&D India designs and manufactures a comprehensive range of electrical equipments for the high voltage and ultra-high voltage electricity transmission. ALSTOM T&D India manufactures advanced technology equipments ranging from 66 kV to 765 kV and above including air-insulated circuit breakers (live-tank and dead-tank), disconnectors, power transformers and instrument transformers (including non-conventional instrument transformers). The Company also manufactures high technology gas-insulated substations (GIS) and gas-insulated lines (GIL) up to 400 kV.

ALSTOM T&D India is an expert in engineering and project management for large turnkey transmission projects and power supplies for electro- intensive industries and infrastructure. As a world leader in HVAC and HVDC engineered energy solutions, Alstom helps transmit large quantities of electricity, up to 1200 kV, over very long distances, driven by triple imperative: reliability, safety and efficiency. Modern HVDC can transmit up to five times more power than HVAC, while FACTS (Flexible Alternating-Current Transmission Systems) allow higher and more stable power flows on alternating current grids. ALSTOM T&D India is also a leading provider of power supply systems for industry and infrastructure.

SOLUTION

ALSTOM T&D India’s substation automation system is among the top suppliers of high performance, mission-critical solutions that protect, control and manage electrical substations up to 1200 kV and grids for utilities and electro-intensive industries. ALSTOM T&D India’s state-of-the-art manufacturing unit at Pallavaram, offers the complete range of Protection Relays from the legacy electromagnetic range: Hinged Armature, DISC, STATIC, Hinged Armature MiDOS to MiCOM Agile and top end MiCOM P40 range. Digital control system like DS Agile provides fully scalable integrated solutions for protection, automation and control systems. ALSTOM T&D India also provides training, commissioning and refurbishment support.

SOLUTIONS (NMS)

ALSTOM T&D India, a leading supplier of Network Management Solutions (NMS), manages over 70% of the Electrical Transmission Grid of India. In an ever-evolving energy landscape, its NMS solutions are playing a central role in developing Smart Grid applications to address country’s energy infrastructure challenges. Its global energy solutions are the ‘brain’ behind a utility’s grid and help increase its overall efficiency and reliability. At the same time its suit of smart grid applications support the emerging distributed generation and renewable energy sources being introduced to the electrical grids.

SERVICES

ALSTOM T&D India offers support for high voltage products and quality service to optimise electrical infrastructure, increase the return-on-investment and prolong lifecycle of customer’s assets. It's team of engineers provide emergency support, predictive maintenance and training to its Customers. ALSTOM T&D India’s service units are managed by stringent quality management systems and fulfil the requirement of ISO 9001, environmental standard ISO 14001, and OHSAS 18001.

GE T&D India Ltd Company History

GE T&D India Limited (formerly ALSTOM T&D India Limited) is a leading player in the power transmission & distribution infrastructure business. The company has a total of 6 manufacturing sites. It has a portfolio of products, solutions and services, comprising the entire range of transmission equipment up to Extra and Ultra High Voltages (765 kV and beyond), including air-insulated switchgear (AIS) and locally manufactured power transformers and gas-insulated switchgear (GIS). It also provides power electronics solutions to create super highways and offers advanced power management Smart Grid solutions for transmission and distribution including renewable energies integration. The company was incorporated in 13th March of the year 1957 as The English Electric Company of India (EEI). The Company started manufacturing solid-state generators and transformers, vacuum switches and electric motors in collaboration with GEC International Controls, UK and Electroimplex, Bulgaria during the year 1982-83. In 1984, the collaboration agreements were signed with GEC Power Transformers, UK, and Raydne, UK, to manufacture the medical electronic equipment. Another collaboration agreement also signed with GEC Machines, UK, to manufacture hydroelectric generators during the same period. During April of the year 1993, the company name was changed from The English Electric Company of India (EEI) to GEC Alsthom India. Areva T&D came out with a rights issue during July of the year 1994 to fund the normal capital expenditure, and bump up the long-term sources of operational possessions. In July 24th of the year 1998, again the company name was changed to ALSTOM Limited. During the year 1999-2000, two collaboration agreements were entered with Alsthom T&D SA, France for the manufacture of 72.5 KV SF6 Circuit Breakers and 420 KV SF6 Circuit Breakers both operated by spring mechanism. The company made a joint venture with KoCoS Messtechnik of Germany to spun off the energy division. The Company had commissioned the 315 MVA 400 kV Transformer successfully in August of the year 2001. During the year 2002-03, the company had successfully tested the new generation 145 kV circuit Breaker-Types GL312 as per IEC standards and also commissioned the 420 kV Circuit Breaker for the 4500 MW Super thermal Power Plant at NTPC, Talcher. Areva T&D signed a 50million Euro contract with Jayaprakash Power Ventures Ltd India during the year 2003, for the supply of major hydro-generating plant equipment for 400MW and in the same year the company bagged the contract from Hindalco Industries worth of Rs.87cr, also the company received the order worth Rs 500 Cr from GVK Industries. During April of the year 2005, Holdings SA and AREVA T&D SA (Jointly with Areva T&D Holdings SA) has reached an understanding for acquisition of upto 26464400 equity shares (66.35%) held by ALSTOM Holdings in the company for a consideration of Rs.806 Million. Name of the company has been changed from ALSTOM Limited to Areva T&D India Limited effective from 23rd September 2005. During August of the year 2006 the company launched the MiCOM T390 Universal Power Line Carrier (PLC), a comprehensive solution for communication requirements over HV lines. The 33kV Circuit Breakers of the company were successfully type tested in Italy and these are being quoted in the market. Maiden order for Rukmani Power Limited was successfully executed in August of the year 2006. Unit has also commenced export of sub-assemblies and components of HVX Breakers to AGS, Germany. The merger of all T&D entities of AREVA in India has been successfully completed in the year 2006. In 2007, the company bagged 126 M Order from KAHRAMA Water & Electricity, QATAR to supply six Turnkey 66 kV GIS Substations and also 26 M$ Order from Kenya Power & Light for turnkey substations for the distribution network. During the same year 2007, as at 20th January, Areva T&D commissioned the 765 kV Turnkey Substation for NTPC Sipat. The largest Generating Transformer 370 MVA/220 kV delivered to Reliance Energy and also state-of-the-art City Distribution SCADA Systems commissioned in the same year of 2007(9 out of 10 Circles done by AREVA T&D India) for MSETCL- a model for other SEBs to emulate with APDRP 2 funds. In 2007, AREVA T&D India has won the 'Technology (Process) Adaptation, Upgradation, Efficiency and Innovation Award in Transmission and Distribution' for designing, installing and commissioning India's first 765 kV EHV circuit breaker. And also in the same period the company has reached a new milestone with the global product launch of new Air Core Reactors with Multi-Wire Cable Design (MCD). Air Core Reactors provide a linear response of impedance versus current. As at January 2008, the company launched the HYpact & ITR products focus on Packaged Substations. The Company received Best stall Award in 400-sqm+ categories in ELECRAMA 2008. During June of the year 2008, the company inaugurated the new production hall of its Power Transformer Plant located in Monchengladbach (Dusseldorf region, Germany). Also in July 2008, Areva T&D entered into a strategic partnership agreement with NovaTech to distribute the measurement instruments under the MiCOM brand names. The name of the company was changed to ALSTOM T&D India Limited from AREVA T&D India Limited, effective 31 January 2012, to reflect its name with that of the promoter group. During the financial year 2013-14, ALSTOM T&D India inaugurated India's first Digital Substation Automation Competence Centre at Pallavaram, Chennai. The opening of the Competence Centre will allow further advancement of High, Extra High and Ultra High Voltage as well as Renewable Power concept, thus enabling the company to maintain its leadership position in the transmission market. In terms of localisation of large transformers of Extra High Voltage 765 kV, the company achieved a landmark with the flag-off of 100th 765 kV transformer for Power Grid in October 2013 from its Vadodara unit. During the financial year 2014-15, a historical milestone was achieved with the flagoff of the first 'Madeinindia' 800 kV HVDC convertor transformer from the company's world-class power transformer manufacturing facility at Vadodara, in the state of first Gujarat. During the year, the company achieved another milestone by delivering 100th unit of 765kV Shunt Reactor for PowerGrid Varanasi site. The 100 MVAR reactor units were the result of indigenous technology and technical expertise of Vadodara facility. On 2nd November 2015, GE acquired ALSTOM's shareholding in ALSTOM T&D India Limited (ATDIL) as a part of its global acquisition of Energy business activities of ALSTOM. During the year 2015, the Company secured a contract of Rs. 670 million to expand and upgrade the energy management system of India's various control centers in North East India: North Eastern Regional Load Despatch Centre (NERLDC) and seven other Regional Load Despatch Centers (RLDCs). During the year 2015, the Company demonstrated its expertise in execution of turnkey projects by commissioning 51 AIS and GIS substations. The rst 765 kV substation of Rajasthan at Anta was commissioned by Company during the year. Apart from this, turnkey projects were also executed and commissioned for Company's major customers like PGCIL, MSETCL, WBSETCL, GETCO, CSPTCL and APTRANSCO. On 15 June 2016, ALSTOM T&D India announced that it has been awarded two contracts worth over Rs 202 crore from Power Grid Corporation of India Limited for execution of projects in Madhya Pradesh. Both the projects will facilitate evacuation of power and add to availability of electricity in the central region. The Company secured three new contracts worth Rs 2317 million (US$ 35 million) from PowerGrid to supply transformers and shunt reactors for 765/400kV substation situated at Agra in Uttar Pradesh and spare units of 765kV transformers and reactors as part of eastern and southern region strengthening schemes. The products for all these contracts will be delivered from Company's world-class factory at Vadodara in India. The name of the company was changed from ALSTOM T&D India Limited to GE T&D India Limited with effect from 2 August 2016. During the financial year 2016-17, GE T&D India achieved a new milestone by delivering 200th unit of 765kV Shunt Reactor from its world class manufacturing facility at Vadodara. In another important milestone, the company successfully commissioned Pole 1 of Phase 1 of Champa 800 kV Ultra High Voltage Direct Current (UHVDC) project, transmitting 1,500 MW of power from Champa, Chhattisgarh to Kurukshetra, Haryana in March 2017. During the financial year 2016-17, the Company was awarded two contracts by Doosan Power Systems for developing 765kV/400kV Gas insulated substations for 2*660 MW Thermal Power Plants at Jawaharpur and Obra in the state of Uttar Pradesh. These substations will be located at Sonebhadra and Etah and shall contribute significantly towards bringing electricity to state of Uttar Pradesh which is today facing acute power shortage. The products shall be supplied from our local manufacturing facilities at Hosur, Padappai and Vadodara. During the year 2016-17, the Company demonstrated its expertise in execution of turnkey projects by commissioning 40 numbers of AiS and GiS substations. The first 765kV substation of Maharashtra, MSETCL at Aurangabad was commissioned by Company during the year. Apart from this large number of turnkey projects were also executed and commissioned for Company's major customers: Power Grid, MSETCL, WBSETCL, GETCO, APTRANSCO and Megha infrastructure.In FY 2016-17, the Company's transformer factory in Vadodara commissioned 29 units of 765kV iCT/GTs along with 28 units of 765 kV Shunt Reactors. The transformer factory at Naini delivered and commissioned more than 40 units of Transformers & Reactors to more than 20 customers. On 3 November 2017, GE T&D INDIA announced that it has sold its global financial shares services business (hereinafter referred to as GFSS) to M/s GE India Industrial Private Limited together with the assets and manpower comprised therein on a slump sale basis on an 'as is where is' basis for cash consideration of Rs 6.5 crore. GFSS was a non-core business activity for the company and the sale would help management to focus on its core business activities. During FY 2017, the Company executed renovation and modernization across several power generation projects like National Hydro Power Corporation, SJVN And National Thermal Power Corporation. During the year 2017, the Company consolidated its expertise in State Grid networks across the country. Your Company was awarded 400kV/220kV/132kV turnkey gas insulated substation order by Uttar Pradesh Power Transmission Corporation Ltd. (UPPTCL) at Lucknow Hardoi Road. During the year 2017, the Company won several projects across the states of Gujarat, Rajasthan, Telangana, Bihar and Orissa to provide end-to-end turnkey solutions and products for grid strengthening and expansion of inter-intra state grid networks. During the year 2017, the Company demonstrated its expertise in execution of turnkey projects by commissioning 60 numbers of AIS and GIS substations, enabling addition more of than 13 GW power into the Grid. Main success stories were commissioning of Pole 2 (1500 MW) of HVDC at Champa and Kurukhetra, 765kV bay extension projects for Power Grid at Wardha, Vindhyachal, Jaipur and Gwalior within 12 months, completion of 400kV / 220kV Substation including 500 MVA transformer in 4 months, and commissioning of transformer package for L&T Power at Bheramara in Bangladesh. Besides, the Company executed and commissioned large number of turnkey projects for esteemed customers that include Power Grid, Bihar State Power and Transmission Company Limited (BSPTCL), Rajasthan Transmission Co. Ltd (RVPN), Chattisgarh State Power & Transmission Co (CSPTCL), Maharashtra State Electrical Transmission Co. Ltd (MSETCL), Megha Engineering and Infrastructure Ltd (MEIL), Sterlite Energy and others. In FY 2016-17, the Company has been selected by Power Grid to provide 420 kV series reactors for Ballabgarh and Mandala substations of project. During the year 2016-17, the Company achieved a new milestone by delivering 200th unit of 765kV Shunt Reactor from its world class manufacturing facility at Vadodara. The Company successfully commissioned Pole 1 of Phase 1 of Champa 800 kV Ultra High Voltage Direct Current (UHVDC) project, transmitting 1,500 MW of power from Champa, Chhattisgarh to Kurukshetra, Haryana in March 2017. During the year 2016-17, the Company demonstrated its expertise in execution of turnkey projects by commissioning 40 numbers of AIS and GIS substations. Main success stories were commissioning of 765 kV bay extension project for Power Grid at Phagi in record time of 6 months, commissioning of 1st solar project of 1x70 MW at Bhadla for Tata Power in 6 months, and commissioning of 110 kV GIS along with laying of 16 kms of 110 kV cable in Kollam city in record time. Apart from this large number of turnkey projects were also executed and commissioned for Company's major customers, viz Power Grid, Odisha Power Transmission Corporation Limited (OPTCL), West Bengal State Electricity Transmission Company Limited (WBSETCL), Gujarat Energy Transmission Corporation Limited (GETCO), Andhra Pradesh Transmission Company (APTRANSCO) and Megha infrastructure. During the year 2018, the Company was awarded orders for full turnkey basis of 2*40 MW solar in the state of Orissa by Pan India Infra projects. Building on the references in solar execution, the Company also won 4*40 MW Solar projects by Essel in the state of Uttar Pradesh and Orissa. In FY18, the Company won contract from HPCL Mittal Energy (HMEL) for development of 400/66kV GIS MRSS (Main receiving substation) at HMEL Bhatinda refinery. The project encompasses design, engineering, supply, testing and commissioning of 12 * 400kV gas insulated switchgear bays, three phase power transformers and O&M contract post commissioning.

GE T&D India Ltd Directors Reports

The Directors are pleased to present the 67^th Annual Report, together with the audited financial statements of the Company for the financial year ended March 31, 2023.

FINANCIAL RESULTS

Rs. ( millions)

Financial results for the year ended March 31, 2023 are in compliance with the Indian Accounting Standards (Ind-AS) prescribed under Section 133 of the Companies Act, 2013.

DIVIDEND

In view of inadequate profit during the year and to conserve cash and maintain liquidity, the Board of Directors decided not to recommend dividend for the Financial Year 2022-23.

The Dividend Distribution Policy of the Company is in line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The policy is available on your Company's website at http://www.ge.com/in/ge-td-india-limited.

PERFORMANCE REVIEW

During the financial year FY 2022-23, the GDP of the country grew at a rate of 7.2%. The peak power demand surged to approximately 209 GW in 2022. A total of around 16 GW of renewable energy generation was added to the grid in FY 2022-23.

The Government of India (GOI) has consistently shown continuous support by announcing Production Linked Incentives (PLI) in the power sector. Under the PLI scheme, companies are encouraged to produce more not only for the domestic market but also for global markets. The production-linked incentives are a huge motivation for the industrial sector and bring profitability to producers. This has a direct impact on the power sector since increased production consumes more electricity, and the GOI has to ensure reliable 24x7 power. This further ensures investments in the power sector.

The country has set ambitious targets to achieve 500 gigawatts (GW) of renewable energy capacity by 2030, including solar, wind, hydro, and other sources. Various policies and initiatives have been launched to promote renewable energy investments and facilitate their integration into the power grid. 100% FDI is allowed under the automatic route in the power segment and renewable energy. Under the Union Budget 2022-23, the government announced the issuance of sovereign green bonds, as well as conferring infrastructure status to energy storage systems, including grid-scale battery systems. To achieve the target of 500 GW by 2030, the Ministry of Power has issued a detailed report on transmission projects envisaged for the evacuation of 537 GW of renewable energy capacity. The transmission projects are a combination of high voltage AC projects of different voltages and high voltage DC projects for the evacuation of large, concentrated power in one geographical location. The renewable energy power generation will be through multiple sources, including solar, onshore wind, storage, hydro, including pump storage plants, and offshore wind. The transmission schemes are being structured while considering energy storage to deliver round-the-clock power to load centers. According to the report, the additional investment required in the transmission sector for this evacuation will be Rs. 2.45 trillion.

The above actions and initiatives from the GOI have led to the recovery of the power sector, including the transmission and distribution sector, in FY 2022-23. The opportunities in the transmission sector started to materialize in Q3 & Q4 of FY 2022-23 through Tariff Based Competitive Bidding (TBCB) bids after a slow start initially. In the year FY 2022-23, India observed the addition of around 14,500 Ckt. km of transmission lines and the addition of approximately 76,000 MVA at substations, which is almost equivalent to the additions made in the last 2 financial years.

During FY 2022-23, the major hurdles of global supply continued in a few product lines and are being mitigated by creating new local vendors to the maximum possible extent. The Russia-Ukraine conflict has put a lot of pressure on global inflation and caused a steep rise in energy prices. However, your company maintained resilience and agility by improving the sourcing process to negotiate better and improve commercial pricing in the bids. This not only effectively mitigated the risk but also repositioned itself as a Make in India (MII) organization and increased its share in the exports market. In FY 2022-23, a sizeable business was conducted with industrial customers and renewable developers. For growth, your company equally focused on product sales with major EPCs in the country and delivered on time.

On the financial front, your company's performance improved significantly due to various actions taken by the management to improve execution, reduce costs, and stabilize commodity prices. Your company generated a profit before tax and exceptional items of Rs. 381.3 million, compared to a loss of Rs. 1,796.5 million in the previous financial year.

Launch of product CMU at Elecrama 2023

Performance in Green Energy Corridor Market

The Tariff Based Competitive Bidding (TBCB) packages are the major requirements driving the transmission market. The number of private developers participating in the TBCB auctions has increased, and your company is engaged with most of the developers in this space. However, during and after COVID Wave 2, the pipeline of TBCB projects had slowed down, resulting in delayed opportunities that were pushed to the next financial year. Despite the slow materialization of TBCB market opportunities, your company had a good rder Intake in the market from the TBCB segment. Some major orders are listed below:

• 220kV & 132kV product package, including a 245kV Gas Insulated Substation package, 220kV & 132kV circuit breakers, and instrument transformers package at Nangal Bibra and Bongaigaon.

• Air Insulated Switchgear products at various substations such as Mohanlal Ganj, Goa, Karur, and Khavda from EPCs and developers.

• Grid automation Control Relay Panel (CRP) packages from various TBCB substations (Karur, Khavda, etc.) from various EPCs.

The Central Electricity Authority, under the Transmission Plan for Grid Integration of Renewable Energy up to 2030, has planned transmission systems for major renewable potential zones. The renewable energy generation projects are planned in Rajasthan, Gujarat, Leh - Ladakh, Andhra Pradesh, Telangana, Karnataka, Madhya Pradesh, Maharashtra, and Tamil Nadu.

Continuous Focus on Neighbouring Countries

In the financial year 2022-23, significant business was conducted with neighbouring countries such as Bhutan, Nepal, and Bangladesh, with order intake coming from these countries.

• Order from Nepal Electricity Authority for the upgradation of the existing Grid Substation Automation system (SAS) for existing grid substations, including six control centers across Nepal (outside Kathmandu).

• Variation order from Bhutan Power Company for the CHUMDO - 220/66/33KV GIS SS.

• Order from EPC Co. for the PGCB Bangladesh Amtoli 400KV SS AIS Switchgear Package.

• Various orders for Grid Automation CRP SAS Packages from Nepal and Bangladesh in hydro and utility sector.

Amendment order from SJVN ARUN-3 Power Development Company Limited for the 9X420KV Gas Insulated Switchgear (GIS) and 220KV Air Insulated Substation (AIS) at Dhalkebar Substation.

These overseas market orders not only boosted the order intake but also brought the desired profitability to the company.

Enabling via Digitalization and Services Market

Digital automation and digital service techniques have gained significant momentum in the power sector market. Following the COVID-19 pandemic, digital initiatives have emerged as the most effective solution for remote operation and maintenance of substations through the use of advanced digital technologies. The pandemic has highlighted the importance of secure and reliable automation in the grid. Upgrading to an automated grid is the key to addressing these challenges.

Your company is at the forefront of this evolution, continuously enhancing its automation and service solutions to meet the growing demand. The focus is on ensuring secure automation and remote maintenance, which have become crucial requirements in the current scenario. The company's robust and reliable cybersecurity solutions

33kV GIS at Birlapur in West Bengal

have earned the trust and confidence of customers. As a result, the company has secured additional orders and expanded its already existing installed base. Some of the notable orders include:

• Substation Automation System and Control Relay Panel and Protection & Control 1051 for four 220KV Substations of Tamil Nadu Transmission Corporation.

• Control and Relay Panel (CRP) at Andhra Pradesh Transmission Corporation (APTRANSCO) GUDIVADA 400/220/132KV Substation & Annaram & Medigadda Substations of Transmission Corporation of Telangana.

• CRP for various substations: 400/220KV XELDEM (GOA), 765/400kV KHAVDA Substation, 765/400 kV BHUJ substation, Chhattisgarh State Power Transmission Corporation – BILASPUR, DARDEHI, 400/220 kV KARUR Tariff Based Competitive Bidding (TBCB) Projects.

• Supply and retrofitting of Bus Bar Protection Relays for various sites of Power Grid Corporation of India namely Khandwa, Boisar, Vapi, and Satna Substations.

• Establishment of 6 main control centres with GE Supervisory Control and Data Acquisition (GE SCADA) technologies for data visualization of 39 Substations for Nepal Electricity Authority in Nepal.

• Strong win for Odisha's government's newly privatized distribution utilities with GE Digital Technologies on Advanced Distribution Management System (ADMS) & Geographic Information Systems (GIS). This win takes GE ADMS Strong presence in 3 out of 4 DISCOMS.

• GE Energy Management System (EMS) Technology, legacy system upgrade with comprehensive maintenance in Bangladesh territory.

• Extension of 400 kV Gas Insulated Switchgear (GIS) Bay along with New Reactor at Parbati – II Project of National Hydroelectric Power Corporation (NHPC).

• 125MVAR/400kV Reactor Bay at Birsinghpur for Madhya Pradesh Power Generation Company Limited (MPPGCL).

• Annual maintenance contract with Asset Performance Management for 60 Months for 765 kV substations at Anta and Phagi for Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL).

Your company will continue to focus on this market and beyond in 2023-24 and is confident enough to further build your company's strength.

Future Approach

The continuous impact on the climate is driving the need for the development of new energy resources for power generation, including upcoming greenfield projects focused on hydrogen. Achieving a sustainable and reliable power supply requires an optimal combination of renewable energies and fossil fuels. India has made significant progress with 42% of its installed base coming from non-fossil fuel sources, and it is actively working towards addressing the trilemma of reliable, affordable, and sustainable power. In line with this, several large industrial houses are planning to manufacture hydrogen within India and export it to global markets, positioning India as a low-cost hub for this resource.

The Government of India is actively promoting hydrogen manufacturing through the National Hydrogen Mission and providing support through the Production Linked Incentive (PLI) scheme. However, to ensure the production of green hydrogen, a substantial amount of renewable power is required. This will drive the construction of multi-gigawatt-scale renewable capacities and the establishment of numerous large-capacity central and state sector connectivity substations, creating promising market opportunities for your company.

As the share of renewable power in the grid continues to grow, dedicated corridors for the transmission of renewable energy are essential. The development of green energy corridors will be crucial to achieving the target of evacuating 500 GW of renewable energy by 2030. Additionally, there will be an increase in commercial models and private participation across all sectors of generation, transmission, and distribution.

Alongside investments in 765/400kV substation networks, there will be a future focus on STATCOM projects to ensure reactive power balance in the grid. STATCOMs are static synchronous compensators that use power electronics to provide or absorb reactive AC power in an electricity network.

With the electricity market expected to grow, both in terms of existing and new products, there will be a demand for new renewable capacity, necessitating increased flexibility in the grid. This will involve the integration of energy storage systems, as well as the augmentation of the transmission system, to accommodate the evolving needs of the power sector.

To optimize the use of existing assets and manage the higher absorption of renewable energy in the grid, utilities across India are continuously following a digital roadmap and adopting more digital technologies. India is witnessing a wave of digital projects in both the transmission and distribution sectors.

OPERATIONAL EXCELLENCE

Your company's experience of more than 34 years in turnkey project execution continues to help it reach new landmarks in operational excellence year after year. Supported by an efficient project management team and various support functions such as engineering, sourcing, procurement, finance, and human resources, your company is dedicated to delivering commitments, honoring time schedules, and successfully fulfilling projects for customers.

In the past year, your company successfully commissioned 22 AIS and GIS substations, strengthening the nation's transmission network and enabling the addition of new capacity to the grid. This achievement included charging substations for esteemed customers such as PowerGrid Corporation of India Ltd, Odisha Power Transmission Corporation Limited, Kerala State Electricity Board, Jharkhand Urja Sancharan Nigam Ltd, West Bengal State Electricity Transmission Company Limited, Doosan Power Systems, Delhi Transco Ltd., Tata Power Delhi Distribution Ltd., and others.

Additionally, your company played a crucial role in strengthening the transmission network in Bhutan by charging substations for Bhutan Power Corporation, involving complex interfaces and logistics.

During the year under review, your company commissioned a 132/33 kV GIS substation for Odisha Power Transmission Corporation Limited at Hinjilicut, Ganjam district in Odisha. This station was inaugurated by the Honorable Chief Minister of Odisha, Shri Naveen Patnaik. The 132 kV GIS bays were fully manufactured at your company's Padappai factory near Chennai, Tamil Nadu.

Your company has also manufactured and delivered 240 GIS bays, 1280 live tank circuit breakers, and 5976 instrument transformers.

Notably, 36 GIS projects (244 GIS bays) were successfully commissioned, including 2 large 765kV GIS projects with 15 bays for Doosan at Jawarharpur in Uttar Pradesh and 6 bays for Sterlite at Vadodara - the first 765 KV GIS with interface extension. Overseas GIS projects were also commissioned, including a 400kV GIS in Greece and a 138kV GIS in Brazil.

At the Hosur Plant, a new industrial setup for Extra High Voltage Measurement Transformers (EMVT) manufacturing was successfully implemented, catering to prototypes and type tests of EMVTs for 72.5kV, 123kV, 170kV, and 245kV. Additionally, industrialization and production of lower rating current transformers (CTs) were successfully completed, with over 750 CTs manufactured and supplied to the export market.

ENVIRONMENT, HEALTH AND SAFETY (EHS)

The company is committed to protecting its people and the communities in which it operates through its EHS excellence fundamentals and systems. The company aims to continuously improve its EHS systems as an integral part of its operational strategy. EHS excellence is at the core of what the company does and is fundamental to its identity.

The company strives to provide and promote a safe and healthy working environment by using natural resources and energy in a sustainable manner to avoid adverse impacts on employees, contractors, customers, the environment, and the communities in which it operates.

The primary objective of the company is to prevent any harm or damage to people, property, and the environment while ensuring compliance with applicable regulations. The company aims to promote the health, safety, and well-being of all its employees in the workplace to achieve the ultimate goal of zero accidents. It aims to uphold the highest EHS standards, regulatory requirements, training, and operational practices to achieve the goal of zero harm, thereby demonstrating world-class programs and operations.

EHS Monitoring

Leadership and Diversity at GE T&D India

Your company tracks EHS statistics, training status, incident data, audit scores, subcontractor EHS performance, legal compliance, and more in real time through online tools such as Gensuite, Complyworks, Nimonik, Unifier, and "ENHESA." EHS performance is regularly reviewed through an internal EHS operating review process by senior leaders within the company in India and at the corporate level globally.

EHS is a shared responsibility, and everyone is held accountable and

Celebrating World Environment Day 2023

takes ownership of EHS. Our EHS programs combine clear leadership commitment and accountability, where all leaders, including the CEO, are responsible for implementing the policy. The EHS program also fosters a deep and total empowerment of all employees by:

• Ensuring the allocation of adequate resources (e.g., budget, time, training, professionals, etc.).

• Establishing and maintaining safe systems of work. The core fundamental is to "Stop the work in case of any risky situations."

• Encouraging employees to seek assistance and promptly report any events and deviations related to EHS.

• Holding teams accountable for EHS performance and making EHS an integral part of the overall success of the company.

Certifications

All business units of Company are certified under the International Organization for Standardization, Environmental Management System (ISO 14001), and Occupational Health and Safety Management System (ISO45001:2018).

Recognitions

As a testament to your company's commitment to effective implementation of affirmative action policies, during the year under review, your company received EHS Appreciation certificates and letters from prestigious customers such as Doosan, Adani Power Limited, Power Grid Corporation of India Limited, Tata Motors Limited, UP Power Transmission Corporation Limited, and Damodar Valley Corporation.

Human Resources

The purpose of your company's Human Resources (HR) team is to touch the lives of our people and build world-class talents to enable the energy transition for humanity. HR plays a crucial role in our company by making a meaningful impact on the lives of our employees, developing world-class talents, supporting the execution of business strategies, and improving organizational effectiveness. The HR efforts were aligned with driving the desired culture and promoting safety standards across our offices, factories, and sites.

Employee Engagement

Your company always pays immense focus on employee engagement initiatives. It continues to drive numerous employee engagement activities with great rigor, vigor, and passion across all locations. Several initiatives for employee engagement were observed in your company, as stated below:

• Culture and Engagement Pulse Survey: This survey provides an opportunity for people leaders to discuss the survey results with their respective teams and develop actionable plans to improve overall employee engagement. Conducted by a vendor partner on a quarterly basis, the survey allows employees to share their opinions and comments on various engagement drivers. Based on the sentiments expressed, areas of development are identified and acted upon. The upward trend in the engagement score across locations indicates an improved engagement level among teams.

• Grid Solutions Quarterly Townhall and MD & CEO Award: The company focuses on recognizing talent by presenting MD

& CEO awards on a quarterly basis to individuals who have gone above and beyond. The Grid Solutions Quarterly Townhall serves as a forum for the leadership team and all employees to come together and exchange information on topics such as environment, health and safety, finance, HR, business operations, and commercial aspects.

• People Leader Engagement Workshop: Engagement sessions are conducted for people leaders, inviting upward insights from team members in the absence of leaders. Clear actions and timelines are established based on relevant insights. Subsequently, loopback sessions are organized to share the actions taken in response to the team's insights, particularly in addressing opportunities.

Additionally, there were multiple unit-specific employee and social engagement activities organized throughout the year to boost employees' morale:

• Town Hall with Global and Local Leadership Team/s

• Round Table and 1-o-1 Meetings

• Festival Celebrations

• Sports Event and Culture Building

Talent Acquisition: Nearly 51% of our opportunities were closed with internal talent from partner GE Entities. At GE, we highly value unique identities, diverse backgrounds, and varied experiences. We actively encourage and embrace different voices and perspectives, as they equip us to rise to the challenge of building a world that works for everyone. We celebrate our people for who they are, regardless of their religious beliefs, individual orientation, gender, or special needs. Our commitment lies in fostering an inclusive culture where everyone feels empowered and motivated to perform at their best because they are accepted, respected, and included.

Talent Development: Your company conducted robust review sessions with business/function leaders, during which talents were discussed along with the action plan for their development and growth in their respective roles. Actionable tasks such as job rotation, stretch and bubble assignments, and job enrichment were implemented to cultivate a stronger talent pipeline within the organization, particularly for critical roles. Our talent development process enabled leaders to identify critical roles and top talents in each function, providing them with frameworks and tools to align talent needs with the company's strategy. This involved rigorous assessments of performance and demonstration of GE leadership behaviors. Other parameters evaluated included retention risk, loss impact, domain knowledge, functional capabilities, succession pipelines, intentional next role planning, mentoring, development and learning plans, and creating talent flow. This proactive approach allowed the company to take necessary actions to retain key talents and build succession pipelines.

Competency Management: Competency mapping through the Integrated Talent Management (ITM) tool was initiated for functions such as Environment, Health and Safety, Commercial, Quality, Sourcing, Manufacturing, Engineering, and Project Management. This process aimed to develop talent by identifying competency gaps and placing emphasis on individual development plans to bridge those gaps.

Organization Structure: The organizational structure is of great importance to the company for the smooth running of operations. Your company consistently strives to make the organization nimble and flexible, adapting to changing times. In line with this approach, an organizational restructuring was initiated to ensure optimum span and layers within the respective teams.

Culture

Your company aims to sustain a culture based on leadership behaviors of humility, transparency, and focus, with an unwavering commitment to integrity. The organizational culture of Grid Solutions supports talent attraction, engagement, and retention, ensuring that the company's ways of working are strongly aligned with its goals.

Inclusion, diversity, and equality are crucial pillars of the company's culture, and to truly embody these values, your company is committed to investing in programs that focus on building a diverse and talented workforce.

Learning is essential for growth and progress. The company strongly believes in promoting a learning culture and, to reinforce this belief, multiple initiatives were launched across units and product lines, as outlined below:

Key Initiatives:

Your company initiated various actions to address the inputs received from employees through monthly opinion surveys. The aim was to create a better working culture and foster collaboration with employees by acknowledging and acting on their feedback. These initiatives facilitated connections between employees and leaders, allowing them to share personal and professional development opportunities and promote work-life balance. Various events, including Service Anniversaries, Birthdays, and Festivals, were organized, with a focus on environment, health and safety, and compliance.

To enhance diversity and inclusion, your company also conducted sessions and events to raise awareness about Diversity and Inclusion, including Women's Day and events centered around LGBTQ+ inclusivity, such as "Belong." The company is continuously working towards enhancing gender diversity in the workplace.

National Safety Week was celebrated between 4^th to 10^th March 2023.

The moto to celebrate is "Our Aim – Zero Harm" and had a host of events including EHS Drawing, Slogan, Quiz/Puzzles competitions

& Safety prototype build by employees. In addition to employees, the safety competitions were also extended to employee children. The employee family and kids participated in the EHS Drawing competition and participation was extensively encouraged.

Your company also launched the 'Learning through Assignments & Projects' program. This initiative aimed to encourage employees to take on stretch assignments related to topics such as Safety, Quality, Delivery, and Cost. This program helped employees develop cross-functional learning and exposure.

Workforce and Analytics

Your company has a dedicated platform for workforce and analytics known as GE Workday. This cloud-based HR enterprise management platform enables employees and people leaders to access information anywhere and anytime. The user-friendly interface facilitates swift retrieval of essential data and reports, enabling the business to make important people-related decisions promptly. The implementation of this new platform has seamlessly supported your company in driving strategies related to recruitment and talent management, retention, growth programs, HR and payroll compliance, and benefits programs with efficiency and effectiveness.

QUALITY AND CONTINUOUS IMPROVEMENT

All of your company's operations in India, including manufacturing, projects, services, and automation, are certified for the Integrated Quality Management System. This certification reinforces the quality of the company's processes and their compliance.

Your company is committed to continuous improvement towards business excellence. The deployment of quality and continuous improvement initiatives has made significant progress, contributing to business results. Here are some of the achievements and key actions realized through the wholehearted participation of employees at all levels:

• Pallavaram unit continued to enhance continuous improvement competencies at all levels through relevant trainings such as Lean, Problem Solving (8D/GE PSR, etc.), Lean kaizen events, and coaching on continuous improvement projects across units. This aimed to enhance the quality and continuous improvement competencies of employees.

• World Quality Day/Week was celebrated from 14^th to 18^th November 2022 in Pallavaram, Vadodara, Padappai, and Hosur units. Employee engagement programs were organized to promote awareness and commitment to quality, focusing on root cause analysis, issue resolution, and continuous improvement. Active participation from employees was encouraged.

• Six major Lean Kaizen events were conducted in 2022, contributing to significant operational performance improvements and cost savings.

• To minimize the waste of SF6 gas, the HVS Padappai unit procured and commissioned an SF6 purification plant from Germany. This plant can treat impure SF6 gas and make it equivalent to the IEC 60376 standard technical gas. This initiative aligns with GE Company's Carbon Neutral Program, aiming to reduce SF6 waste and its equivalent of 176 Kilo tons of CO2 annually.

• Padappai unit participated in the CII Southern Region EHS Excellence Award competition and secured the Bronze Award for the assessment of 2022. Sreedhar Krishnankutty, GIS Operations Manager, and Kishore Kumar, EHS Manager, received the award on behalf of GE.

• Health index of employees in the Hosur factory improved from 65% to 70% through various programs, including health camps, eye and audiometry examinations, qualitative and quantitative surveys, and blood donation camps. Regular pep talks by a doctor on the shop floor also contributed to employee well-being.

Kaizen Event at the transformers plant at Vadodara

• Surveillance audits were conducted by LRQA for ISO 14K1 and 45K1 standards, and recommendations were made for the extension of the certificates for the Hosur factory.

• Padappai factory successfully completed qualification audits for The Provincial Electricity Authority in the Thailand market and for Reliance India Customers. Hosur factory successfully completed customer audits by Gujarat Energy Transmission Corporation, Tata Steel, Jamshedpur, and Sterlite for CT, CVT, and LT.

• Pilot product launch of GL314 F3 EV_STEP01, a 245 kV Live Tank Circuit Breaker.

• Thirty-nine structured process improvement actions, including Lean and Six Sigma projects, were successfully executed at Padappai and Hosur sites, contributing to significant operational performance improvements. Major kaizens included logistics optimization, warehouse operations optimization, optimization of routes for employee transportation, value stream mapping to reduce GIS Engineering Lead time, and energy treasure hunts for energy conservation.

• Value stream mapping for GIS in Padappai and CT in Hosur was carried out to reduce lead time by 25%. Breakthrough actions in GIS included aligning the complete value stream as per customer requirements and reducing supplier lead time. Breakthrough actions in CT involved reducing drying time and impregnation time.

• Hosur site implemented the prototype for Auto Tension Controller to achieve homogeneity in the tapping process through automation and improve First Pass Yield (FPY) by 5%.

• Six structured kaizen events contributing to significant operational.

Overall during the financial year 2022-23 your company successfully executed projects and secured major orders, both domestically and internationally. Your company demonstrated resilience and adaptability in the face of challenges, such as post Covid-19 challenges and the ongoing Russia-Ukraine conflict, by embracing digital automation and service techniques. The company's focus on green energy corridors, transmission infrastructure, and renewable energy integration has positioned it at the forefront of sustainable power generation. With a commitment to continuous improvement, robust cyber-secured solutions, and a customer-centric approach, the company has further strengthened its market presence and laid a solid foundation for future success.

TRANSFER TO RESERVES

No amount was transferred to reserves during FY 2022-23.

FIXED DEPOSITS

During the year, the Company has not accepted any fixed deposits including the public and no such amount inter-alia, principle or interest was outstanding as on the closure of financial year 2022-2023.

CORPORATE SOCIAL RESPONSIBILITY

The brief outline of the Corporate Social Responsibility (CSR) Policy of the Company and the initiatives undertaken by the Company on CSR activities during the year in the format prescribed in the Companies (CSR Policy) Rules, 2014 are set out in Annexure - A of this Report.

The policy is available on the Company' website at following URL: https://www.ge.com/in/sites/www.ge.com.in/files/Corporate%20 Social%20Responsibility%20Policy_1.pdf.

Your Company's Corporate Social Responsibility (CSR) activities reflect its philosophy of helping to build a better world and a more sustainable society. Over the years, across all sites, your Company has been engaged in several initiatives, and has focused on strengthening the marginalized sections of the community through multiple interventions such as healthcare, access to clean drinking water, infrastructure development, support for persons with special needs, skill development, entrepreneurship programs. These programs are carefully curated, depending upon the needs of the community for the overall development and empowerment of the society.

In terms of extant applicable provisions and in view of losses incurred by the Company, the Company was not required to spend any amount on CSR activities During the Financial Year 2022-23. However, during the last FY 2021-22, the Company spent excess amount of Rs. 2.0 million than the entitled amount to be spent on CSR activities for that Financial Year.

DIRECTORS

During the period under review, the following changes were incurred in the Composition of the Board of Directors:-

• Mr. Rajendra S. Iyer resigned as Director with effect from May 2, 2022.

• The Board of Directors at its meeting held on May 20, 2022, appointed Mr. Johan Bindele as an Additional Director in the category of non-executive Director with effect from June 1, 2022 subject to the shareholder's approval. Further, at 66^th Annual General Meeting held on 10^th August 2022, shareholders of the Company approved the appointment of Mr. Johan Bindele as a Director, liable to retire by rotation.

• Further, Mr. Pitamber Shivnani had retired from the position of Managing Director & Chief Executive Officer from the close of business hours of December 31, 2022.

• Board on the recommendation of Nomination & Remuneration Committee had appointed Mr. Sandeep Zanzaria as Managing Director & Chief Executive Officer of the Company w.e.f April 17, 2023 and his appointment was duly approved by shareholders of the Company vide Postal Ballot notice dated April 17, 2023 and result of which was declared on June 5, 2023.

In terms of section 152 of the Companies Act, 2013 Articles of Association of the Company, Mr. Sushil Kumar, Director of the Company retires by rotation at the ensuing AGM and, being eligible, offers himself for re-appointment.

KEY MANAGERIAL PERSONNEL

As on March 31, 2023, the following are the Key Managerial Personnels of the Company in terms of the Companies Act, 2013, read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014: