Can Hitachi Energy Maintain Its Record Order Book Momentum Through FY27?
About Hitachi Energy India
Hitachi Energy India is a leading provider of power grid, transmission, and automation solutions, serving critical infrastructure and renewable integration projects. The company is backed by a strong global technology parentage and robust domestic project execution capabilities.
Q2 FY26 performance showed margin improvement and multi-quarter visibility backed by a record order backlog of ₹29,400 Cr, equivalent to 4.6x FY25 sales.
Financial Highlights (Q2 FY26)
| Metric | Q2 FY26 | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,090 Cr | +18% | +5% |
| EBITDA | ₹341 Cr | +58% | +11% |
| EBITDA Margin | 16.3% | +920 bps | +270 bps |
| Order Backlog | ₹29,400 Cr | 4.6x FY25 | — |
Revenue ₹2,090 Cr — robust growth driven by grid automation and export orders.
EBITDA ₹341 Cr — supported by high-margin projects and efficient execution.
Order Backlog ₹29,400 Cr — ensures multi-year earnings visibility.
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Peer Comparison
| Company | EBITDA Margin | Order Book Visibility |
|---|---|---|
| Hitachi Energy | 16.3% | 4.6x FY25 Sales |
| Siemens India | 14.8% | 3.2x FY25 Sales |
| ABB India | 15% | 3.9x FY25 Sales |
Strengths & Weaknesses
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Weaknesses
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Opportunities & Threats
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Valuation & Investment View
- Short-term: Positive on robust order inflows.
- Medium-term: Margins stable at 15–16% level.
- Long-term: Structural growth from digital and HVDC solutions.
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Investor Takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, concludes that Hitachi Energy’s consistent order inflows and margin stability make it a standout power equipment play. Explore more insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions.
