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Informist, Thursday, Feb. 5, 2026

 

--Hitachi Energy: Strong exports contributed to bottom-line growth in Q3 

--CONTEXT: Hitachi Energy India mgmt comments in post-earnings analyst call 

--Hitachi Energy: To commission Mumbai High Voltage DC project in 2-3 weeks 

--Hitachi Energy: High-single-digit contribution of data centres to exports 

 

By Ashutosh Pati and Akshat Saksena

 

MUMBAI – Hitachi Energy India Ltd. has completed the pre-commissioning tests for its high voltage direct current project in Mumbai and expects the project to be commissioned in the next two-three weeks, the company's management told analysts at a post-earnings conference call Thursday.

 

Hitachi's management said strong exports contributed to its bottom-line growth during the December quarter. The company reported robust numbers for the December quarter, with its net profit rising over 90% on year to INR 2.61 billion. Its revenue from operations rose around 29% on year to INR 20.82 billion.

 

The trade deal with the US, which will reduce tariffs on Indian exports to 18%, is expected to enhance Hitachi's export opportunities, the management said. The share of exports in the company's total order inflows was around 30% in the nine months ended December. Even though Hitachi's export opportunities are growing, its primary focus is still the domestic market, they said.

 

"... our main thing would be to address the domestic market, and that's the reason we are expanding, we are creating the new facilities, because we have a clear visibility of the domestic market where it is going to go. So at the same time, our exports are also growing, but exports are not at the cost of the domestic market," the management said.

 

The company expects strong growth in orders from data centres, as the industry is booming. Hitachi has already received orders from data centres pertaining to its exports, and "we are also bidding for some other exports for data centres", the management said. Orders from data centres contribute in the high single digits to the company's exports, and they expect this to "grow much faster".

 

Hitachi is working on a 220 kilovolt gas-insulated switchgear commissioning for a data centre in Pune, Maharashtra. It is also working on a 132 kilovolt gas-insulated switchgear bay extension in Odisha, and a 300 megawatt solar energy project with 220/33 kilovolt air-insulated substation at Koppal, Karnataka.

 

Of the INR 7 billion capital expenditure planned for FY26, the company has incurred only INR 1.55 billion. The company management clarified that even though they have had a slow start, they have a strong pipeline of projects for the current quarter and will achieve a number close to the capex guidance. Hitachi also has several high-voltage direct current projects in its pipeline for the coming months.

 

"... so, because of the product cycle, our product demands, we cannot do a bulk effect at one go. So, we have to go in a sequential approach. So, we have a plan around that, and we are hopeful that we'll pick up," the management said.

 

Thursday, the company's shares closed 0.8% higher at INR 19,199 on the National Stock Exchange. The company announced its December quarter results after market hours. End