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Informist, Friday, Jul. 31, 2026

By Afra Abubacker

MUMBAI – Hitachi Energy India Ltd. is expected to report a sharp rise in its net profit for the June quarter, driven by improved project execution and a healthy order book in power transmission and distribution equipment, particularly from data centres. However, profitability may ease sequentially due to higher commodity prices and lower gross margins, according to analysts.

The power equipment maker's standalone net profit for the June quarter is expected to jump 121% on year but decline 12% from the March quarter to INR 2.91 billion, according to the average of estimates from five brokerages. The highest estimate for net profit is INR 3.46 billion from IDBI Capital Market Services Ltd., and the lowest is INR 2.31 billion by Prabhudas Lilladher Pvt Ltd. 

Hitachi Energy's revenue for the June quarter is expected to rise nearly 54% on year but decline nearly 18% on quarter to INR 22.70 billion, according to the average of estimates. The highest estimate for revenue is INR 28.16 billion from IDBI Capital, and the lowest is INR 19.72 billion from Motilal Oswal Financial Services Ltd. 

For the March quarter, the company had reported a net profit of INR 3.30 billion, up 80% on year, on revenue of INR 27.54 billion, up 46% on year. The company has a diversified portfolio, catering to markets across renewables, data centres, battery energy storage systems, transportation, and industries. 

Most brokerages have positioned Hitachi as a strong player in the capital goods sector, along with GE Vernova T&D India Ltd. and Thermax Ltd. "Hitachi remains well placed for a strong execution-led growth phase, underpinned by its INR 295 bn order book (~3.7x FY26 revenue)," Nuvama Wealth Management Ltd. said. The brokerage expects revenue to grow 62% on year, driven by improved project execution. Motilal Oswal also expects strong revenue growth but gave a relatively lower estimate of 33% on year for the June quarter. 

Hitachi has announced capital expenditure of INR 20 billion to set up a power transformer unit in Gujarat, the company said in an exchange filing on Jun. 12. The new factory, scheduled to be completed in 2027-28 (Apr-Mar), will manufacture large power transformers for applications including high-voltage transmission, high-voltage direct current projects, power generation, artificial intelligence data centres and industrial projects. 

Hitachi will announce its June quarter results on Aug. 7. At 1342 IS, shares of the company were trading 3.2% higher at INR 32,055 on the National Stock Exchange. The shares have fallen over 10% since the company reported its March quarterly results on May 25.

Of the seven brokerage reports on the company available with Informist, two have a "buy" recommendation on the stock with an average target price of INR 34,607. This is nearly 8% higher

than the current market price. Three brokerages have a "hold" rating on the stock with an average target price of INR 33,734, and two have a "sell" rating with an average target price of INR 29,734.

Following are the June quarter earnings estimates for Hitachi Energy India from five brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Himanshi Gupta

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