Hitachi Energy India Ltd reported a strong set of earnings for the fourth quarter of FY26, supported by robust project execution, strong order inflows, and sustained momentum across transmission and grid infrastructure businesses.
The company reported revenue from operations of ₹2,754.1 crore for Q4FY26, marking a sharp 46.2% increase compared to ₹1,883.7 crore in the year-ago period. Sequentially, revenue rose 32.3%.
Profit after tax (PAT) surged 79.7% year-on-year to ₹330.5 crore against ₹183.9 crore reported in Q4FY25. PAT margin improved to 12% from 9.8% a year ago.
Operational performance also strengthened during the quarter. Operating EBITDA rose 92% YoY to ₹452.4 crore, while operating EBITDA margin expanded to 16.4% compared to 12.5% in the corresponding quarter last year.
The company’s profit before tax (PBT) stood at ₹443.4 crore, up 79.7% YoY.
Orders during the quarter came in at ₹2,422.5 crore, up 10.6% year-on-year. Hitachi Energy said the quarter’s order inflows were led by HVDC control system refurbishment, grid connection solutions, transformers, and disconnectors.
The company’s order backlog reached a record ₹29,555.3 crore as of March 31, 2026, up 53.5% YoY, providing strong revenue visibility for the coming quarters.
Exports accounted for 36.8% of total orders booked during the quarter, with the company receiving orders from the US, Europe, and APAC regions.
Hitachi Energy India also highlighted the commissioning of India’s first HVDC city center infeed project in Mumbai during the quarter.
Commenting on the results, N Venu, Managing Director & CEO of Hitachi Energy India Ltd, said the company’s Q4 and full-year performance reflected its focus on operational efficiency, customer execution, and long-term growth. He added that the strong order backlog and long-term planning continue to support growth momentum despite geopolitical volatility.
Outlook
The company said the prevailing global environment has pushed energy security and sustainability to the forefront, with electricity becoming a primary driver of economic growth.
Hitachi Energy India noted that meeting rising electricity demand and integrating renewable energy into the grid will require coordinated efforts from governments, industries, and academia.
The company also cautioned that geopolitical tensions continue to disrupt global supply chains and impact the availability and pricing of critical inputs. Rising crude oil prices are adding cost pressures across the value chain, particularly for import-dependent economies such as India.
However, Hitachi Energy India expects the increased allocation towards the clean energy sector in the Union Budget FY27 to support the country’s energy ecosystem and create a positive multiplier effect for the clean energy segment, helping India stay on track toward its energy transition goals.
Hitachi Energy India Q4FY26 highlights:
Revenue from operations at ₹2,754.1 crore, up 46.2% YoY
PAT at ₹330.5 crore, up 79.7% YoY
Operating EBITDA at ₹452.4 crore, up 92% YoY
Operating EBITDA margin at 16.4% vs 12.5% YoY
Orders at ₹2,422.5 crore, up 10.6% YoY
Order backlog at record ₹29,555.3 crore
Disclaimer:
This article is for informational purposes only and should not be construed as investment advice.