The consolidated net profit climbed to ₹294.2 crore in the April-June period from ₹132 crore a year prior, exceeding the CNBC-TV18 poll forecast of ₹256.6 crore.
Revenue from operations surged by 68.6% to ₹2,493.7 crore, significantly surpassing the CNBC-TV18 estimate of ₹2,075.8 crore.
EBITDA more than doubled to ₹363.5 crore, up from ₹154.9 crore last year, topping the CNBC-TV18 estimate of ₹309.8 crore. The EBITDA margin expanded to 14.6% from 10.5% in the same quarter last year, although it was slightly below the anticipated 14.9%.
Order book remains robust
The company secured orders totaling ₹5,096.5 crore during the quarter.
While reported order inflows dropped 55.1% year-on-year, this decline was mainly due to a high base from the previous year, which included a significant high-voltage direct current (HVDC) order. Ignoring that one-off order, new order inflows increased by 26.1% year-over-year, indicating strong underlying demand.
The majority of order inflows came from HVDC projects, grid connection solutions, power quality equipment, and transformers, with data centres emerging as a primary demand driver, followed by industries and renewable energy.
The company also achieved its first battery energy storage system (BESS) order—a 165 MW/330 MWh project in Andhra Pradesh—signifying its entry into a rapidly expanding segment of the energy transition.
Exports comprised 33.6% of total orders, excluding HVDC, with orders received from Europe, North America, and South Asia.
Hitachi Energy’s order backlog reached a record ₹32,222.1 crore at the end of the quarter, ensuring strong revenue visibility for the upcoming quarters.
Capacity expansion and outlook
He noted that construction of the company’s 20th manufacturing facility in Karjan, near Vadodara, commenced in June to enhance execution capabilities and cultivate a more resilient supply chain.
Looking forward, the company anticipates growth opportunities in AI data centres, smart grids, battery energy storage systems, electric vehicle infrastructure, and renewable energy. They also emphasized that the government’s goal of 900 GW of non-fossil fuel installed capacity by FY36 is likely to generate significant opportunities, while highlighting the importance of an early resolution to geopolitical tensions to bolster global economic growth and expedite the energy transition.
Shares of Hitachi Energy India closed 2.2% higher at ₹32,600 on Friday ahead of the earnings announcement.
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