Hitachi Energy Q1 FY26 Earnings Results

Hitachi Energy India Ltd (formerly known as ABB Power Products and Systems India Ltd.) was created in 2019 as a Joint Venture between Hitachi and ABB’s Power Grids. The company serves utility and industry customers, with a complete range of engineering, products, solutions, and services in areas of Power technology. Presenting below are its Q1 FY26 earnings results.

 

Q1 FY26 Earnings Results

• Revenue: ₹1,479 crores, up 11.4% YoY (Q1 FY25: ₹1,327.3 crores).

• Profit Before Tax (PBT): ₹176.9 crores, up significantly from Q1 FY25 (₹15.1 crores), aided by high-margin orders.

• Profit After Tax (PAT): ₹131.6 crores, up 1,220% YoY (Q1 FY25: ₹10.4 crores).

• EBITDA: ₹170.2 crores, up 176.6% YoY (Q1 FY25: ₹61.5 crores).

• EBITDA Margin: 11.1%, up 650 bps YoY (Q1 FY25: 4.6%).

• Gross Margin: 44%.

• Order Flow: ₹11,339 crores, up 365% YoY, driven by a landmark Bhadla-Fatehpur HVDC project and major Powergrid orders.

• Order Backlog: ₹29,135 crores, at an all-time high, ensuring strong visibility for future quarters.

• Other Financials: Net finance cost ₹4 crores (reduced YoY), depreciation ₹25 crores (up due to capex capitalization).

• Export Share: Exports (excluding HVDC) made up ~25% of the order book, with strong momentum from Europe, Americas, and Asia.

• Service Business: Service order intake up 90% YoY, now accounting for a high single-digit share of order book.

 

Key Management Commentary & Strategic Highlights

• Management cited robust execution and order wins (notably the HVDC win and Powergrid bulk transformer contract) as key drivers of revenue and margins.

• CEO N Venu emphasized continued support for India’s renewables grid integration, data center growth, railway expansion, and electrification across industries.

• The company remains committed to maintaining double-digit margin performance and strong operating cash flow through efficiency gains and capacity expansion.

• Ongoing capex of ₹2,000 crores focused on growing transmission, digital & industrial offerings, and export-oriented production.

• Growth priorities include sustaining core segment leadership, leveraging export momentum, expanding services, and capitalizing on India’s evolving energy infrastructure needs.

 

 

Q4 FY25 Earnings Results

• Revenue: ₹1,884 crores.

• PAT: ₹184 crores.

• Order Backlog: ₹23,964 crores (Q4 FY25; now a record ₹29,135 crores).

 

To view the company’s previous earnings and latest concall transcripts, click here  to visit the Alphastreet India news channel.