Profit More Than Doubles as Record Backlog Extends Revenue Visibility

Hitachi Energy India Limited reported a 123.5 per cent year-on-year increase in profit after Tax for the quarter ended June 30, 2026, supported by faster execution, a favourable product mix, greater operational efficiency and a rising export contribution. The power transmission equipment maker also recorded its highest-ever order backlog and secured its first battery energy storage system order.

On the available reported basis, profit after tax rose to Rs 294.2 crore in Q1FY27 from Rs 131.6 crore a year earlier. Profit before tax more than doubled to Rs 389.5 crore from Rs 176.9 crore, representing growth of 120.2 per cent.

Revenue from operations increased 68.6 per cent to Rs 2,493.7 crore from Rs 1,478.9 crore in Q1FY26. Operational EBITDA surged 135.0 per cent to Rs 399.9 crore from Rs 170.2 crore. The operational EBITDA margin widened to 16.0 per cent from 11.5 per cent, reflecting improved execution of the existing Order Book across businesses and operating efficiencies.

Orders totalled Rs 5,096.5 crore during the quarter. Excluding high-voltage direct current orders in the respective periods, order growth was 26.1 per cent year on year. Inflows were led by HVDC, grid connection solutions, power quality equipment and Transformers.

Data centres made a significant contribution to quarterly orders, followed by industries and renewable energy customers. Export orders accounted for 33.6 per cent of the total excluding HVDC, with demand from Europe, North America and South Asia for grid integration and power quality products.

The services business received orders from utilities, electricity distribution companies, industrial customers and transport operators. These covered bay extensions, switchyard commissioning, maintenance and lifecycle services.

The quarter-end order backlog reached a record Rs 32,222.1 crore, providing revenue visibility across several quarters. The elevated backlog follows order demand linked to grid expansion, power quality, renewable energy integration and other electricity infrastructure requirements.

Hitachi Energy India also secured its first BESS order, covering a 165 MW/330 MWh project in Andhra Pradesh. The contract marks the company’s entry into battery energy storage systems and broadens its portfolio in a segment identified by management as an emerging opportunity.

Commenting on the Quarterly Results, N Venu, Managing Director & CEO of Hitachi Energy India Ltd., said, 'The Q1FY27 indicates excellent overall performance, resulting in robust order and revenue growth. It reflects strong market momentum, driven by a surge in opportunities stemming from the energy transition & security across the country and globally. At Hitachi Energy India Limited, we preempted this surge and laid out a long-term strategy across all our businesses to best address the surge in these opportunities, in this electricity era.

Q1FY27 demonstrates our continuous focus on enhancing operational efficiency, which aided the strong execution of our order book. To strengthen our execution capabilities and to create a more robust supply chain in the market, we began the Construction of Hitachi Energy India Ltd.'s 20th manufacturing unit at Karjan, Vadodara, in June 2026. It reflects our commitment to our nation’s energy security and the vision of ‘Make in India’.'

For the year ended March 31, 2026, revenue from operations was Rs 7,918.24 crore and total income stood at Rs 8,387.63 crore. Full-year profit before tax was Rs 1,320.92 crore, while profit after tax reached Rs 987.84 crore. Total expenses were Rs 7,012.47 crore.

Hitachi Energy India operates across power transmission equipment, grid infrastructure projects and related services. Its verticals include transformers, high-voltage products, grid automation, power quality solutions and HVDC. Part of the wider Hitachi Energy group, it combines local manufacturing and project execution with group technology, engineering support and international customer relationships.