Hitachi Energy India revenue jumps 63.5% to 2,996.5 crore rupees in second quarter
Key Facts
Hitachi Energy India reported revenue of 2,996.5 crore rupees for the second quarter of fiscal 2027 on November 12, up 63.5% year on year, reflecting strong demand for power transmission equipment. New orders rose 85.9% to 4,120.8 crore rupees over the same period, according to the company’s statement. The company said order growth was driven by positive market demand and continued order momentum. The backlog reached a record 33,335.4 crore rupees in September 2026, providing, according to the company, revenue visibility for several quarters. The results came as the stock rose more than 8% in early trading on November 13, according to a report published that day.
Profit growth did not keep pace with the rise in revenue: profit before tax increased 22.0% year on year to 430.4 crore rupees, while profit after tax rose 20.5% to 318.5 crore rupees. Adjusted earnings before interest, taxes, depreciation and amortization, by contrast, jumped 69.5% to 494.4 crore rupees. The margin on this measure was 16.5% for the quarter, according to the company’s statement. The company attributed the margin to improved order execution and operational excellence. These indicators show that revenue and operating profitability grew faster than net profit during the period.
The transmission segment led new orders, followed by data centers, according to the company. Transmission orders included power transformers, static synchronous compensators, cooling equipment, and air- and gas-insulated switchgear. The company said utility transmission orders led bookings during the quarter. Excluding large orders for high-voltage direct-current transmission systems, orders rose 21.8% quarter on quarter in the second quarter. Orders excluding those systems also increased 53.1% year on year in the first half of fiscal 2027. These figures put transmission and data centers at the forefront of the company’s recorded sources of demand.
Order growth extended to overseas markets: export orders rose 41% year on year in the second quarter and 184% in the first half of fiscal 2027. The company said export orders included Asia, Africa, the Middle East, Europe and the United States, and that exports play an important role in its total order book. Services activity also grew 77% year on year in the second quarter and 36% in the first half. Service orders came from utilities, the industrial sector and engineering, procurement and construction contractors, and included expansion work and equipment additions at substations. These orders add to the business mix recorded in equipment, transmission and data centers.
The company linked demand for grid equipment to India’s expanding power sector. Electricity generation reached 536 billion units in the second quarter of fiscal 2027, up 11% year on year. Peak demand met reached 270 gigawatts on July 16, 2026, up 18% from a peak of 230 gigawatts in the second quarter of fiscal 2026. India added more than 3,000 circuit kilometers of high-voltage transmission lines between July and September 2026, including 1,807 circuit kilometers in September alone. The national transmission network exceeded 512,000 circuit kilometers after these additions, according to the company.
The managing director and chief executive said the company had invested in new infrastructure and was working to strengthen its existing capabilities. He added: "These efforts are reflected in the results for the second quarter of fiscal 2027. Orders and revenue continue to deliver sustained year-on-year growth, supported by disciplined execution of orders during the quarter." His comments came amid business expansion and a record backlog. The period’s figures showed growth in domestic and export orders and services, alongside the increase in revenue. In the session after the results announcement, the stock jumped more than 8% in early trading on November 13, according to the report on the stock’s movement.