Press Release | Bengaluru | 30.07.2025 | 4 min read
Quarter highlights
· Orders up ~365% with significant large order wins, revenue up ~15% YoY
· Record order backlog of INR 29,125.3 crore
· PAT up significantly YoY
· Continued double-digit Op EBITDA margin 11.1%
· Strong operating cash generation
(INR crore) |
Q1FY26 |
Q1FY25 |
YoY% |
Q4FY25 |
QoQ% |
|---|---|---|---|---|---|
Orders |
11339.2 |
2436.7 |
365.4% |
2190.8 |
417.6% |
Revenue |
1529.8 |
1327.3 |
15.3% |
1921.9 |
-20.4% |
PBT |
176.9 |
15.1 |
1075.3% |
246.7 |
-28.3% |
PBT % |
11.6% |
1.10% |
- |
12.8% |
- |
PAT |
131.6 |
10.4 |
1163.1% |
183.9 |
-28.4% |
PAT % |
8.6% |
0.8% |
- |
9.6% |
- |
Op EBITDA* |
170.2 |
61.5 |
176.6% |
235.6 |
-27.7% |
Op EBITDA % |
11.1% |
4.6% |
- |
12.3% |
- |
*The company evaluates the profitability based on Operational EBITDA. Operational EBITDA represents income from operations excluding (i) amortization expense on intangibles, (ii) restructuring and restructuring-related expenses, (iii) non-operational pension cost, (iv) gains and losses from the sale of businesses, acquisition-related expenses, and certain non-operational items, (v) foreign exchange/commodity timing differences in income from operations consisting of (a) unrealized gains and losses on derivatives (foreign exchange, commodities, embedded derivatives), (b) unrealized foreign exchange movements on receivables/payables (and related assets/liabilities) and (vi) Depreciation expenses on tangibles assets.
Sharing his views on the quarter results, N Venu, Managing Director & CEO of Hitachi Energy India Ltd. said, "India’s ongoing efforts to integrate renewables, coupled with growth in data centers and AI, the increasing electrification needs of industry and transport continue to drive grid infrastructure development in the country. As one of the fastest growing large economies in the world, India needs to persist with deploying state-of-the-art technologies at speed and scale as it powers ahead to inspire the next era of a sustainable energy future for all."
Orders
In the quarter ending June 30, 2025, orders totaled INR 11,339.2 crore, up 365.4 % year-on-year (YoY), led by the large project win of Bhadla-Fatehpur High Voltage Direct Current (HVDC) link. The Company also received a bulk order from POWERGRID to supply 30 units of 765-kilovolt (kV) 500 megavolt-ampere (MVA) single-phase transformers. In terms of segment, transmission continues to lead the order book, followed by orders from the rail & metro and data center segments.
Service clocked a 91% YoY order growth; some of the key service orders include SCADA upgrades, equipment replacement, and annual maintenance contracts. Meanwhile, exports maintain consistency by contributing 24.7% without HVDC orders in Q1 FY26. This quarter, the Company received export orders from Europe, South America, and Asia.
The order backlog stood at INR 29,125.3 crore for the quarter ending on June 30th, 2025, providing revenue visibility for the coming quarters.
Revenue
The Company delivered a strong revenue performance, at INR 1,529.8 crore, with a 15.3% YoY growth from April to June 2025. This was achieved through effective order execution during the quarter and continued improvement in overall operational efficiency.
Profit
With effective execution of high-margin orders, sustained operational excellence, a good product mix, and increased export momentum, the Company saw a significant YoY growth in profit before tax (PBT) and profit after tax (PAT) on a lower base. PBT and PAT recorded a YoY growth of 1075.3% and 1163.1%, respectively. Operational EBITDA for the quarter stood at INR 170.2 crore, resulting in a double-digit margin of 11.1%. Furthermore, the steady collection of receivables, along with advances, resulted in a positive cash impact in the quarter, supporting the Company’s commitment toward improving margins and strengthening overall operational efficiency and capacity.
Outlook
The Indian economy remains one of the fastest-growing large economies despite global challenges. It reflects the country’s resilience and policy-driven approach as a world leading economic powerhouse. On March 31, 2025, India achieved a significant energy milestone with half of its installed electricity capacity accounted for by non-fossil fuel sources. India’s power consumption grew by nearly 7 % in March 2025. Strengthening the power grid infrastructure will be key to achieving the country’s growing power consumption requirements.
Hitachi Energy is a global technology leader in electrification, powering a sustainable energy future with innovative power grid technologies with digital at the core. Over three billion people depend on our technologies to power their daily lives. With over a century in pioneering mission-critical technologies like high-voltage, transformers, automation, and power electronics, we are addressing the most urgent energy challenge of our time – balancing soaring electricity demand, while decarbonizing the power system. With an unparalleled installed base in over 140 countries, we co-create and build long-term partnerships across the utility, industry, transportation, data centers, and infrastructure sectors. Headquartered in Switzerland, we employ over 50,000 people in 60 countries and generate revenues of around $16 billion USD.
https://www.hitachienergy.com
https://www.linkedin.com/company/hitachienergy
https://x.com/HitachiEnergy
Through its Social Innovation Business (SIB) that brings together IT, OT (Operational Technology) and products, Hitachi contributes to a harmonized society where the environment, wellbeing, and economic growth are in balance. Hitachi operates globally in four sectors – Digital Systems & Services, Energy, Mobility, and Connective Industries – and the Strategic SIB Business Unit for new growth businesses. With Lumada at its core, Hitachi generates value from integrating data, technology and domain knowledge to solve customer and social challenges. Revenues for FY2024 (ended March 31, 2025) totaled 9,783.3 billion yen, with 618 consolidated subsidiaries and approximately 280,000 employees worldwide. Visit us at https://www.hitachi.com.
