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Informist, Thursday, Feb. 5, 2026

By P. Madhu Kumar

MUMBAI – Hitachi Energy India Ltd.'s top line and bottom line surpassed analysts' estimates by a slight margin in the December quarter and also registered a strong jump on year in both the metrics driven by continued growth momentum with strong execution and a solid order backlog. It posted robust numbers despite incurring a one-time cost of INR 542.4 million due to the implementation of new labour codes. 

The company's order backlog of INR 298.72 billion was the highest ever, according to the data provided by Hitachi in a press release. The revenue growth on year was the fastest in six quarters during Oct-Dec. 

Hitachi Energy India reported an over 90% on-year growth but a fall of just over 1% sequentially in its net profit to INR 2.61 billion during the December quarter. Its top line was INR 20.82 billion, up over 28% on year and nearly 14% on quarter. Analysts had pegged its net profit at INR 2.36 billion and its revenue at INR 20.06 billion. Excluding the one time cost of INR 542.5 million, the company net profit was INR 3.16 billion.

Hitachi Energy's operating earnings before interest, tax, depreciation, and amortisation grew two-fold on year to INR 3.38 billion in the December quarter. Its operating EBITDA margin expanded a massive 550 basis points to 15.6%.  

It reported a decline of nearly 79% on year in its orders to INR 24.78 billion from INR 115.94 billion. This was an increase of nearly 12% on quarter. The December quarter order book excluded a large order from the same quarter a year ago and consisted of orders for transformers, reactors, gas insulated switchgear, and air-insulated switchgear. In terms of segment, industries, data center and renewables were major contributors to the order book.

During the quarter, exports grew, accounting for 29.8% of the total orders booked for the quarter. The company received export orders from utilities, data centers, from Southeast Asia, and Southern Africa, respectively.  

For the nine months ended December, the company reported a net profit of INR 6.57 billion, sharply up from INR 2 billion in the year-ago period. Its top line for the same period at INR 53.94 billion was higher than INR 45.01 billion a year ago.   

The company's revenue growth was primarily on account of robust demand in India and other key markets. Expanded market share and successful execution of strategic initiatives also added to the revenue during the quarter, Hitachi said in a press release. 

In terms of profit, higher revenues from core operations, efficient execution, and focus on cost management helped the company register strong growth in the metric. The marginal sequential fall in the bottom line was due to the implementation of the new labour codes.

The India-European Union trade deal is expected to boost opportunities for the Indian energy firms and the company is confident that it is likely to create a more stable climate-aligned trade framework that will support Indian energy players expand exports and attract long-term capital for infrastructure and innovation. 

The company released its December quarter results after the market hours. Its shares ended nearly 1% higher at INR 19,199 on the National Stock Exchange. End

Edited by Akul Nishant Akhoury

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