GE Power India has received Notices of Award with a cumulative value of Rs 5,500 million (mn) from Dar Al Balad for Contracting and Operations Company, Saudi Arabia, for the Shoaiba fuel conversion project. The scope covers the supply of equipment along with technical field advisory services to support boiler modifications required for the fuel conversion. The order comprises two separate NOAs that together cover both supply and service scopes and will be executed as a single programme. The project is scheduled to be completed within two point five years from the start of execution.\n\nThe company clarified that the award does not amount to a related-party transaction and that neither its promoters nor members of the promoter group have any interest in the order. GE Power India provides engineering, procurement and servicing solutions for the power generation industry and operates across thermal power equipment and services businesses. The contract aligns with the firm’s existing focus on upgrades and aftermarket services that facilitate fuel switching and performance improvements at thermal plants.\n\nIn Q4 FY26 the firm reported a net profit decline of 31.07 per cent to Rs 1,132.1 mn from Rs 1,642.4 mn in Q4 FY25, while sales rose 18.78 per cent to Rs 3,164 mn from Rs 2,663.8 mn in the corresponding quarter a year earlier. The quarterly results reflected margin pressures even as revenue growth was driven by order execution and service activity. Company filings noted cost and product mix factors that weighed on profitability and outlined ongoing measures to address efficiency. Analysts tracking the sector see such contracts as supportive of aftermarket revenue streams.\n\nThe counter rose 0.06 per cent to Rs 795.55 on the BSE after the award was announced, representing a muted market response. Execution of the Shoaiba conversion will require coordination with local engineering and operations teams and will draw on the company’s experience in boiler modification and field advisory services. The contract will contribute to service revenues over the execution period and reinforce the firm’s presence in the Middle East market.