Hitachi Energy India Limited announces Q4FY25 results: Strategic focus and cyclical trends delivers strong year-end performance
Press Release | Bengaluru, India | 14.05.2025 | 5 min read
QUARTER HIGHLIGHTS
- Orders up ~56%, revenue up ~13% YoY
- Operational excellence and better revenue mix boosts PAT up ~62% YoY
- Double digit Op EBITDA margin of 12.3%
FULL YEAR HIGHLIGHTS
- Order growth of 228% YoY on back of large HVDC order
- Revenue up 23%, PAT 134% YoY
- Highest-ever order backlog of INR 19,245.9 crore at year-end
- Board recommends dividend of INR 6 per share (300%)
Bengaluru, May 14, 2025 – Hitachi Energy India Ltd. announces results for January to March 2025 (Q4FY25), and for the financial year April 2024 to March 2025 (FY25).
*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.
"A strategic approach and our adaptability to the rapidly changing global economic landscape have enabled us to sustain our growth momentum," said N Venu, MD & CEO of Hitachi Energy India Ltd. "The increasing prominence of electricity in the global energy system will continue to drive the energy transition, making it a focal point of the world's economic growth despite geopolitical dynamics. This growth phenomenon will ensure more capital flow in the energy sector to meet burgeoning demand. At Hitachi Energy India Ltd., we foresee these opportunities and are well-positioned to leverage them.”
Orders
In the quarter ended March 31, 2025, orders totaled INR 2190.8 crore, up 55.7% YoY. Transmission & renewables led the charge, with an increasing focus on modernizing the grid to ensure reliable supply of green electricity across the country. This was followed by orders from industry as well as the rail & metro segment. Notable orders include a large statcom order from one of India’s leading power transmission companies and order for the first made in India Variable Shunt Reactor.
Exports and services continue to sustain their growth momentum with significant contributions to the overall order book. Key export orders were received from across continents - South Asia, Europe, and Africa. Service orders included grid compliance, power systems & renewable studies for utilities, digital service level agreements, SCADA upgrades, replacement of equipment, and annual maintenance contracts.
As of March 31, 2025, the order backlog stood at INR 19,245.9 crore, providing revenue visibility for the coming quarters.
Revenue
The Company has delivered a strong revenue performance, at INR 1,921.9 crore, with a YoY growth of 13.1% in January–March 2025. This was a result of solid order execution and focus on continuous improvement in overall operational efficiency.
Profit
Riding on strong execution and better product mix, along with notional forex exchange gains on export order delivery, pushed profit before tax by 62.1% YoY at INR 246.7 crore. Profit after tax is also significantly up by 61.8% YoY at INR 183.9 crore. Operational EBITDA for the fourth quarter stood at INR 235.6 crore, resulting in a double-digit margin of 12.3%. The same emphasizes the Company’s constant endeavor toward improving margins and strengthening overall operational efficiency and capacity.
Full Year
For the full year ending March 31, 2025, orders reached a record INR 18,173.8 crores (including HVDC orders), up 228% from the corresponding last twelve months, while revenue stood at INR 6,442.1 crores, with a 23% increase over the same period.
In FY2024-25, the Company has taken definitive measures which are in line with its 2030 sustainability goals. Installation of retrofits have optimized energy usage and transitioning to energy-efficient technologies along with operational discipline helped to reduce energy consumption by six percent. Using recycled water for irrigation & flushing and the installation of 10 rainwater recharge wells at the Company’s manufacturing facilities in Maneja & Halol helped reduce freshwater usage by four percent. Similarly, following sustainable solutions for hazardous waste disposal through recycling of waste and considerably reducing total waste disposed through incineration & landfill has ensured 17% reduction in overall waste disposal.
The Company also celebrated its 75 years of glorious presence in India in FY24-25, contributing significantly to the nation's energy ecosystem. To commemorate this milestone, Hitachi Energy India Ltd. had a year-long celebration culminating with the mega event 'EDW75' in October involving all its stakeholders. During the event, the Company announced its India investment plan of INR 2000 crore for the next four to five years - to accelerate its capacity expansion plan in India.
To support its investment plan in India the Company initiated a Qualified Institutional Placement (QIP) and raised INR 2,520.82 crores. The net proceeds from the QIP will be deployed in capacity expansions and other avenues to accelerate growth in its India operations.
Board meeting outcome
Based on the Company’s performance for the year ended March 31, 2025, the Board of Directors has recommended a final dividend of INR 6 per share of face value INR 2 each, i.e. 300%, subject to the approval of shareholders at the ensuing Annual General Meeting.
Outlook
Driven by the electrification of industrial processes and entire sectors, the sharp rise in electricity demand is a reality, despite geopolitical uncertainties. Ensuring industrial competitiveness and economic growth now depends on efficiently and affordably delivering green power from where it's generated to where it's needed. India is moving fast to meet its commitments toward renewable energy installed capacity, adding 30GW of renewable capacity in FY2024-25. The energy transition is no longer just about sustainability - it's equally about security of supply and affordability. Supporting the growth of renewable energy in the country would require a strong HVDC & grid connectivity network which integrate clean energy flow seamlessly, keeping our long term growth drivers intact. In addition, foreseeing immense potential in service and maintenance of such rapidly expanding grids, the Company has introduced its service business unit. From April 1, 2025, the unit will provide services to various sectors throughout the asset lifecycle, from installation to sustainable end-of-life solutions.
About Hitachi Energy
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.
In India, Hitachi Energy operates under the legal entity name Hitachi Energy India Limited and is listed on the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) as POWERINDIA, Scrip code 543187.
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About Hitachi, Ltd.
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.
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