Hitachi Energy India Q1 FY27: Orders Up 26.1% YoY (Ex-HVDC), Revenue Surges 68.6%
Hitachi Energy India reported Q1 FY27 results with order intake up 26.1% YoY (ex-HVDC) to ₹5,096.5 crore and revenue up 68.6% YoY to ₹2,493.7 crore. PBT grew 120.2% YoY and EBITDA rose 135.0% YoY to ₹399.9 crore. The order backlog reached ₹32,222.1 crore. Construction began on the 20th manufacturing facility in Karjan, Vadodara.
The announcement details significant financial performance improvements, strategic capacity expansion, and strong order book growth, which are material factors for investors and stakeholders.
The company reported strong year-on-year growth in orders, revenue, and profitability, along with a significant order backlog and strategic investments in new facilities, indicating positive future prospects.
Hitachi Energy India Limited has announced a strong performance for the first quarter of FY27, ending June 30, 2026. The company reported a significant increase in order intake, which grew by 26.1% year-on-year and 39.7% quarter-on-quarter on a comparable basis, excluding a large HVDC order from Q1 FY26. Revenue from operations surged by 68.6% year-on-year, driven by robust execution of the order backlog.
Profitability also saw substantial growth, with Profit Before Tax (PBT) increasing by 120.2% year-on-year and operational EBITDA growing by 135.0% year-on-year to ₹399.9 crore. This performance was achieved despite an unrealized foreign exchange loss of ₹36.37 crore during the quarter. The company's profit before tax margin stood at 15.6%, with a profit after tax margin of 11.8%.
The company secured orders worth ₹5,096.5 crore in Q1 FY27. Key wins included Hitachi Energy India's first Battery Energy Storage System (BESS) project, a 2 GW wind power evacuation project in Europe, and the supply of GIS/GIB solutions for a 100 GW solar park in western India. Multiple data center orders were also secured from hyperscalers, including a 40 x 2500 kVA data center project in Hyderabad.
As of the end of the quarter, the order backlog stood at ₹32,222.1 crore, indicating strong double-digit growth compared to Q1 FY26 and providing good revenue visibility for the coming quarters. The company has also commenced construction of its 20th manufacturing facility in Karjan, Vadodara, in June 2026, with a targeted commissioning date of December 2028, reinforcing its commitment to India's energy transition and the 'Make in India' initiative.
Management highlighted the strong underlying fundamentals of the business, driven by unprecedented investment in India's transmission infrastructure, renewable energy integration, grid modernization, and digitalization. The company remains focused on strengthening its core businesses in Utilities and HVDC, while capitalizing on emerging growth opportunities in BESS, renewable integration, data centers, and grid modernization.
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