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.