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Hitachi Energy India Results: Latest Quarterly Results & Analysis

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Hitachi Energy India Ltd. 03 Nov 2025 16:45 PM
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Q2FY26 Quarterly Result Announced for Hitachi Energy India Ltd.

Heavy Electrical Equipment company Hitachi Energy India announced Q2FY26 results

  • Orders totaled Rs 2,217.1 crore, up 13.6% YoY.
  • Revenue: Rs 1,915.2 crore compared to Rs 1,553.8 crore during Q2FY25, change 23.3%.
  • EBITDA: Rs 291.6 crore compared to Rs 126.3 crore during Q2FY25, change 130.5%.
  • EBITDA Margin: 15.2% for Q2FY26.
  • PBT: Rs 352.9 crore compared to Rs 70.6 crore during Q2FY25, change 399.8%.
  • PAT: Rs 264.4 crore compared to Rs 52.3 crore during Q2FY25, change 405.6%.

N Venu, Managing Director & CEO, Hitachi Energy India, said: "The country has successfully built-up its non-fossil fuel energy installed base, to 50 percent of its electricity generation capacity. This notable milestone brings with it the challenges of seamlessly integrating intermittent, distributed energy into the national grid. It is essential that we enhance the resilience, reliability, and intelligence of the whole energy ecosystem to e?ectively deploy the expanding capacity. This shifts the focus to advanced grid technologies, digitalization, and integrated solutions, which is reflected in our operations and financial performance."

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Heavy Electrical Equipment company Hitachi Energy India announced Q1FY26 results

  • The Company delivered a strong revenue performance, at Rs 1,529.8 crore, with a 15.3% YoY growth from April to June 2025. This was achieved through effective order execution during the quarter and continued improvement in overall operational efficiency.
  • PBT and PAT recorded a YoY growth of 1075.3% and 1163.1%, respectively. Operational EBITDA for the quarter stood at Rs 170.2 crore, resulting in a double-digit margin of 11.1%.
  • In the quarter ending June 30, 2025, orders totaled Rs 11,339.2 crore, up 365.4 % year-on-year (YoY), led by the large project win of Bhadla-Fatehpur High Voltage Direct Current (HVDC) link.
  • The Company also received a bulk order from POWERGRID to supply 30 units of 765-kilovolt (kV) 500 megavoltampere (MVA) single-phase transformers.
  • Orders up ~365% with significant large order wins, revenue up ~15% YoY; Record order backlog of Rs 29,125.3 crore

N Venu, Managing Director & CEO of Hitachi Energy India said, "India’s ongoing e?orts to integrate renewables, coupled with growth in data centers and AI, the increasing electrification needs of industry and transport continue to drive grid infrastructure development in the country. As one of the fastest growing large economies in the world, India needs to persist with deploying state-of-the-art technologies at speed and scale as it powers ahead to inspire the next era of a sustainable energy future for all.”

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Heavy Electrical Equipment company Hitachi Energy India announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Orders up ~56%, revenue up ~13% YoY
  • Operational excellence and better revenue mix boosts PAT up ~62% YoY
  • Double digit Op EBITDA margin of 12.3%
  • Revenue from Operations: Rs 1921.9 crore vs. Rs 1699.2 crore in Q4 FY24 — up 13.1%
  • Profit After Tax (PAT): Rs 183.9 crore vs. Rs 113.7 crore in Q4 FY24 — up 61.8%

FY25 Financial Highlights:

  • Order growth of 228% YoY on back of large HVDC order
  • Revenue up 23%, PAT 134% YoY
  • Highest-ever order backlog of Rs 19,245.9 crore at year-end
  • Board recommends dividend of Rs 6 per share (300%)
  • Revenue from Operations: Rs 6442.1 crore vs. Rs 5246.8 crore in FY24 — up 23%
  • Profit After Tax (PAT): Rs 384 crore vs. Rs 163.8 crore in FY24 — up 134%

N Venu, MD & CEO of Hitachi Energy India said "A strategic approach and our adaptability to the rapidly changing global economic landscape have enabled us to sustain our growth momentum. The increasing prominence of electricity in the global energy system will continue to drive the energy transition, making it a focal point of the world's economic growth despite geopolitical dynamics. This growth phenomenon will ensure more capital flow in the energy sector to meet burgeoning demand. At Hitachi Energy India Ltd., we foresee these opportunities and are well-positioned to leverage them.”

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Heavy Electrical Equipment company Hitachi Energy India announced Q3FY25 results

  • The company reported its highest-ever quarterly order of Rs 11,594.3 crore in Q3FY25.
  • Revenue was up 31% YoY at Rs 1672.4 crore in Q3FY25, on the back of execution mix and improving operational efficiencies.
  • Profit before tax up four times YoY to Rs 184.1 crore. Profit after tax is up nearly five times YoY from a low base, at Rs 137.4 crore.
  • Operational EBITDA for the third quarter stood at Rs 168.9 crore, resulting in a double-digit margin of 10.1%.

N Venu, MD & CEO, Hitachi Energy India, said: “As nations and organizations steer towards their net-zero targets, energy investments are gaining momentum across verticals – utilities, industries, transport & infra. Over the years, we at Hitachi Energy India Limited have pre-empted this growth phenomenon and have been strengthening our manufacturing capabilities and the quarter’s positive trending performance reflects returns on localization, expansion and talent development.”

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Heavy Electrical Equipment company Hitachi Energy India announced Q2FY25 results

  • Orders totaled Rs 1,952 crore, up 11.7% YoY, during Q2FY25.
  • As of Q2FY25, the order backlog stood at a record high of Rs 8,910 crore, providing revenue visibility for the coming several quarters.
  • Revenue for Q2FY25 were Rs 1,553.8 crore. Showcasing a strong revenue growth of 26.5 % YoY on the back of favorable mix and good order execution during quarter.
  • Profit before tax for Q2FY25 was Rs 70.6 crore, up by 118% YoY, and profit after tax was Rs 52.3 crore, up by 111.4% YoY.
  • Operational EBITDA for Q2FY25 was Rs 126.3 crore, resulting in a margin of 8.1%.

N Venu, MD & CEO of Hitachi Energy India, said: "The growing urgency to accelerate energy transition in India and across the globe has significantly boosted investment in the energy sector." 

"This surge has created favorable conditions for our overall business, leading to increased order intake, revenue, and profitability. Our focused approach toward strong execution of orders with better margins and operational efficiency contributed to favorable performance in Q2FY25.”

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Heavy Electrical products company Hitachi Energy India announced Q1FY25 results:

  • Revenues for the March-June 2024 quarter were Rs 1,327.3 crore, up 27.3% YoY.
  • Profit before tax for the quarter was Rs 15.1 crore and profit after tax was Rs 10.4 crore, both up around three times YoY. Operational EBITDA for the first quarter was Rs 61.5 crore (Op.EBITDA margin 4.6%) reflecting seasonality and business mix.
  • In the quarter ended June 30, 2024, orders totaled Rs 2,436.7 crore, more than doubling YoY.

“As the energy transition gathers pace, investments in the power sector - especially renewables continued to grow,” said N Venu, MD & CEO of Hitachi Energy India “This is reflected in our strong order intake and record order backlog which we are steadily converting to revenues through solid execution while keeping a close watch on costs. We are optimistic on ongoing market support, especially in our identified high growth segments - renewables, HVDC, data centers, electrification of transport, etc.”

 

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Heavy Electrical Equipment company Hitachi Energy India announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • At Rs 1,699.2 crore, up 33.1% QoQ and 27.2% YoY, the company delivered a strong revenue performance. This was a result of solid order execution reflects a diverse revenue mix and focus on continuous improvement in operations.
  • At Rs 172.6 crore or 10.2% Operational EBIDTA was in double-digits as a result of a favorable revenue mix, operational excellence and digitalization efforts.
  • Profit before tax stood at Rs 152.2 crore, up 133.8% YoY and profit after tax was at Rs 113.7 crore, up 123.7% YoY.
  • Orders and revenue post double digit QoQ and YoY growth
  • Exports and services contribution to orders stays stable
  • Diversified revenue mix and operational excellence boosts PAT up ~124% YoY
  • Op EBITDA% crosses double digits

FY24 Financial Highlights:

  • For the full year ending March 31, 2024, orders were at Rs 5,536.3 crores up 14% (excl HVDC) from the corresponding last twelve months, while revenue stood at Rs 5,246.8 crores with a 17% increase during the same period.
  • Orders up ~14% YoY over corresponding period (w/o HVDC)
  • Order backlog of Rs 7,229.5 crore at year-end
  • 88% reduction in carbon emission under Sustainability 2030
  • Board recommends dividend of Rs 4 per share (200%)

“A strong revenue performance, helped by a favorable external environment helped to deliver double digit margins,” said N Venu, MD & CEO of Hitachi Energy India “Sustained economic growth, and ongoing investments in the energy transition especially renewables, transmission infrastructure, data centers and electrification of transport are encouraging trends from a market perspective and we are well positioned to leverage these as we continue to grow the business.”

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Heavy Electrical Equipment company Hitachi Energy India announced Q3FY24 results:

Key Highlights:

  • Revenue: The revenue for the quarter ending December 31, 2023, was reported at Rs 1,276.4 crore, reflecting a year-over-year (YoY) growth of 23% and a quarter-over-quarter (QoQ) increase of 3.9%.
  • Profit Before Tax (PBT): Increased by 152% YoY to Rs 33.8 crore.
  • Profit After Tax (PAT): Showed a substantial recovery with a 400% YoY increase, totaling Rs 23 crore.
  • Operational EBITA: The company evaluates profitability based on Operational EBITA, which stood at Rs 58.4 crore.
  • Order Backlog: The company reported an order backlog of Rs 7,552.3 crore as of December 31, 2023, ensuring revenue visibility for upcoming quarters.
  • Order Value: Orders received during the quarter amounted to Rs 1,235 crore, maintaining a steady performance year on year but showing a decline in QoQ due to an exceptionally large order in Q2.

Operational Highlights:

  • Export Orders: Increased by over 60% YoY during the quarter, indicating strong demand for transformers and high-voltage products from international markets.
  • Order Execution: Noted for driving revenue growth, with solid performance across the board, particularly with orders for data centers and renewables segments.
  • Supply Chain: The company has mitigated some of the external supply chain challenges contributing to the recovery in profits.

Sustainability and Outlook:

  • Sustainability: The company continued implementing sustainability projects aimed at improving waste flow management.
  • Outlook: The Indian economy's growth momentum is expected to increase energy usage proportionally, highlighting the importance of a resilient energy ecosystem

"Technologies and market innovations are playing a pivotal role in navigating the complexities of the evolving energy landscape. These have further expedited energy transition across sectors, helping us sustain our growth this quarter," said N Venu, Managing Director and CEO, Hitachi Energy India.

"Strong order execution and mitigation of some supply chain challenges have helped deliver revenue and bottom-line growth. We stay focused on growth opportunities and improving our overall operational efficiencies," he added.

 

 

Result PDF

Heavy Electrical Equipment company Hitachi Energy India announced Q2FY24 results:

  • Orders up 52.3% QoQ, led by transmission and renewable segments
  • Semiconductor crunch eases, but inventory backlog issues persist
  • EBITDA margin and PAT recover QoQ to 5.3% and Rs 24.7 crore respectively
  • Highest-ever order backlog at Rs 7,578.9 crore
  • In Q2FY24, we received orders worth Rs 1,747.1 crore, up 52% QoQ.
  • Solid order execution resulted in sequential revenue improvement of ~18% to Rs 1,228.2 crore in Q2FY24

“Energy transition projects are spread across segments, and their multiplier impact is only possible when brought together by a flexible, digital, and secure grid. This quarter, our orders reflect a pick-up toward this mindset,” said N Venu, Managing Director and Chief Executive Officer, Hitachi Energy India.

He added, “While inventory bottlenecks need attention, we have witnessed some easing in the semi-conductor crunch, which has helped recover margin and PAT. We remain committed to exploring new opportunities stemming from energy transition across geographies for creating a robust and sustainable clean energy ecosystem.”

 

Result PDF

Heavy Electrical Equipment Company Hitachi Energy India announced Q1FY24 results:

  • In Q1FY24, we received orders worth Rs 1,147.5 crore, up 6% yoy (without HVDC order in the corresponding quarter).
  • Exports contribution grew to over 30% of total orders in Q1FY24
  • As of June 30, 2023, the order backlog stood at Rs 7,024 crore, providing revenue visibility for the coming quarters.
  • While a focus on portfolio led to diversified order growth, revenue held steady at 5% YoY growth at Rs 1,043 crore for Q1FY24, it has declined compared to Q4FY23.
  • Profit before tax at Rs 3.4 crore and profit after tax at Rs 2.4 crore demonstrate double-digit YoY growth on a low base
  • Sustainability 2030, as part of the integrated annual report for FY22-23, Hitachi Energy India reported its steps towards its Net Zero ambitions.

“We remain focused on balancing our operational complexity and efficiencies to preserve the growth momentum,” said N Venu, Managing Director, and Chief Executive Officer, Hitachi Energy India.

He added, “While persistent delays in chips and electronics, led to lower revenue in the quarter, sustained operational excellence efforts provide visibility in the near term. We continue to convert opportunities germinating from energy transition across India and the world.”

 

 

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