Hitachi Energy Posts 5x Profit Growth, ₹18,994 Crore Orders Secured

30 Jan 2025 , 03:06 PM

Hitachi Energy India reported nearly fivefold net profit growth, at ₹137.4 crore in Q3 FY25, driven by a strong order pipeline and record-high backlog. The company achieved its highest-ever order backlog of ₹18,994.4 crore as of December 31, 2024, ensuring good revenue visibility for the coming quarters.

Operational EBITDA stood at ₹168.9 crore, with an EBITDA margin of 10.1%, which reflects improved efficiency and cost management. Revenue increased by 31% YoY to ₹1,672.4 crore. Benefits from improved execution and operations led to improved operational performance.

The company won its biggest-ever quarterly order, valued at ₹11,594.3 crore. This order was led by an HVDC project meant to evacuate renewable energy from Gujarat to Maharashtra.

The revenue growth came primarily from the transmission space. HVDC was the flag-bearer, followed by power quality solutions, substation projects, transportation, industries, and data centers.

Exports, excluding the HVDC order, represented more than 40% of total orders. Key projects were secured in Australia, Indonesia, Canada, Croatia, and Azerbaijan.

The services segment accounted for 11% of total orders, driven by increasing demand for specialized energy solutions and renewable energy consulting. The company won its first capacity reserve agreement for renewable studies in the decarbonization sector, further strengthening its presence in sustainable energy solutions.

Hitachi Energy India ended the year as of December 31, 2024 with zero debt backing due to effective cash flow management along with advance payments from the HVDC project.