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Hitachi Energy Q3 FY26: Revenue Up 29.6% YoY to ₹2,168 Cr; Order Backlog Hits Record ₹29,872 Cr
Hitachi Energy India reported a strong Q3 FY26 with revenues growing 29.6% YoY to ₹2,168 crores and PBT (before exceptional items) surging 118.4% to ₹402 crores. The company achieved an all-time high order backlog of ₹29,872 crores, driven by robust demand in renewables, data centers, and industrial segments. Operational EBITDA margins improved significantly to 15.6% from 10.1% in the previous year. Despite a ₹54 crore exceptional charge for labor code implementation, the overall financial trajectory remains highly positive with strong export momentum.
Key Highlights
Revenue grew 29.6% YoY to ₹2,168 crores, while PBT before exceptional items rose 118.4% to ₹402 crores.
Order backlog reached an all-time high of ₹29,872 crores, providing strong multi-year revenue visibility.
Base order growth stood at 73% YoY when excluding the previous year's large HVDC order.
Operational EBITDA margin expanded to 15.6%, supported by a favorable product mix and operational efficiency.
Data centers and renewables identified as key growth drivers, with significant traction in modular substation concepts.
💼 Action for Investors
Investors should focus on the record order backlog and significant margin expansion as indicators of sustained growth. The company's strategic alignment with AI data centers and the energy transition positions it well for long-term capital appreciation.
Hitachi Energy Q3 PAT Surges 90% YoY to ₹261 Cr; Order Backlog Hits Record ₹29,872 Cr
Hitachi Energy India reported a robust Q3 FY26 performance with revenue growing 29.6% YoY to ₹2,168 crore. Net profit (PAT) jumped 90.3% YoY to ₹261.4 crore, even after accounting for a one-time exceptional charge of ₹54.24 crore related to new labour code provisions. The company achieved its highest-ever order backlog of ₹29,872.2 crore, ensuring strong long-term revenue visibility. Operational EBITDA margins saw a significant expansion to 15.6% from 10.1% in the same quarter last year.
Key Highlights
Revenue from operations grew 29.6% YoY to ₹2,168.01 crore in Q3 FY26
Profit After Tax (PAT) increased by 90.3% YoY to ₹261.42 crore
Operational EBITDA margin expanded significantly to 15.6% from 10.1% YoY
Order backlog reached a record high of ₹29,872.2 crore
Exceptional item of ₹54.24 crore recognized as a provision for the New Labour Codes
💼 Action for Investors
The company demonstrates strong operational leverage and record-high revenue visibility through its massive order book. Investors should remain positive given the margin expansion and substantial unutilized QIP funds of ₹2,365 crore available for future expansion.
Hitachi Energy Q3FY26: PAT Surges 90% YoY to ₹261 Cr; Record Order Backlog of ₹29,872 Cr
Hitachi Energy India reported a robust Q3FY26 performance with revenue growing 29.6% YoY to ₹2,168 crore, driven by strong execution and a solid order backlog. Net profit (PAT) jumped 90.3% YoY to ₹261.4 crore, supported by operational efficiencies that pushed Op EBITDA margins to 15.6%. The company hit a milestone with its highest-ever order backlog of ₹29,872.2 crore, providing significant revenue visibility. Results included a one-time exceptional charge of ₹54.24 crore related to the impact of New Labour Codes on employee liabilities.
Key Highlights
Revenue from operations increased 29.6% YoY to ₹2,168 crore for the quarter ended December 31, 2025.
Profit After Tax (PAT) rose 90.3% YoY to ₹261.4 crore despite an exceptional cost of ₹54.24 crore.
Order backlog reached a record high of ₹29,872.2 crore, ensuring strong future growth visibility.
Operational EBITDA margin expanded significantly to 15.6% compared to 10.1% in Q3FY25.
The company maintains a strong liquidity position with ₹2,260 crore from its March 2025 QIP still held in bank deposits.
💼 Action for Investors
Investors should maintain a positive outlook given the record order backlog and significant margin expansion, which signal strong demand for energy transition infrastructure. The company's ability to scale execution while improving profitability makes it a core holding in the power equipment sector.
Hitachi Energy India Q3 PAT Jumps 90% YoY to ₹261.4 Cr; Revenue Up 30%
Hitachi Energy India reported a strong performance for Q3 FY26, with revenue growing 29.6% YoY to ₹2,168 crore. Profit After Tax (PAT) surged 90.3% YoY to ₹261.4 crore, driven by significant margin expansion as Operating EBITDA margins reached 15.6% compared to 10.1% in the previous year. Although quarterly order inflows fell 78.6% YoY to ₹2,477.6 crore due to a high base effect from a massive HVDC order last year, the order backlog remains robust at ₹29,872.2 crore. The company is well-positioned to benefit from India's energy transition, particularly in renewables, data centers, and 765kV transmission projects.
Key Highlights
Revenue from operations increased 29.6% YoY to ₹2,168 crore in Q3 FY26.
PAT for the quarter rose 90.3% YoY to ₹261.4 crore; 9M FY26 PAT grew 228.5% YoY to ₹657.4 crore.
Operating EBITDA margin expanded significantly to 15.6% from 10.1% in the same quarter last year.
Order backlog stands at a healthy ₹29,872.2 crore, providing strong revenue visibility for future quarters.
Exceptional item of ₹54.2 crore recognized in Q3 FY26 due to the impact of new labor codes.
💼 Action for Investors
Investors should view the margin expansion and massive order backlog as strong indicators of operational efficiency and future growth. The decline in quarterly order inflow is a temporary base-effect issue and does not signal a slowdown in the robust demand for power infrastructure.
Hitachi Energy Q3 FY26 PAT Jumps 90% YoY to ₹261 Cr; Order Backlog Hits Record ₹29,872 Cr
Hitachi Energy India reported a strong Q3 FY26 with revenue growing 29.6% YoY to ₹2,168 crore. Net profit surged 90.3% YoY to ₹261.4 crore, even after accounting for a one-time exceptional hit of ₹54.2 crore related to new labour code provisions. The company achieved its highest-ever order backlog of ₹29,872.2 crore, providing multi-year revenue visibility. Operational efficiency improved significantly, with Op EBITDA margins expanding to 15.6% from 10.1% in the previous year.
Key Highlights
Revenue from operations grew 29.6% YoY to ₹2,168 crore in Q3 FY26.
Profit After Tax (PAT) increased by 90.3% YoY to ₹261.4 crore from ₹137.4 crore.
Order backlog reached a record high of ₹29,872.2 crore, ensuring strong future growth.
Operating EBITDA margin expanded significantly to 15.6% compared to 10.1% in the same quarter last year.
Recognized an exceptional item of ₹54.24 crore due to the impact of New Labour Codes on employee benefit liabilities.
💼 Action for Investors
The company demonstrates robust execution and margin expansion within the high-growth energy transition sector. Investors should maintain a positive outlook given the record order book and substantial unutilized QIP funds of ₹2,365 crore available for future expansion.
Hitachi Energy India Receives INR 9.31 Crore Customs Duty and Penalty Order
Hitachi Energy India Limited has received an order from the Commissioner of Bangalore City Customs demanding a total of approximately INR 9.31 crore. The demand includes a duty of INR 3.15 crore, a redemption fine of INR 3.00 crore, and a penalty of INR 3.15 crore, plus unquantified interest. The order relates to alleged non-compliance with Section 46 of the Customs Act regarding the filing of Bills of Entry. The company has expressed its intention to contest the order before the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT).
Key Highlights
Total quantifiable demand of INR 9.31 crore plus unquantified interest charges.
Duty demand of INR 3,15,40,918 and an equivalent penalty of INR 3,15,40,918.
Redemption fine of INR 3,00,00,000 imposed under Section 125 of the Customs Act, 1962.
Allegations involve failure to truthfully declare particulars in Bills of Entry as per Section 46.
The company plans to appeal the decision at the appellate tribunal (CESTAT).
💼 Action for Investors
Investors should monitor the outcome of the company's appeal at the CESTAT, as a reversal could mitigate the financial impact. While the amount is significant, it is unlikely to materially impact the long-term operations of a company of this scale.
POWERINDIA: GST Order Demands ₹9.92 Crore Tax & Penalty
Hitachi Energy India Limited (POWERINDIA) received an order from the Deputy Commissioner State Tax, Lucknow, regarding GST audit findings for FY 2021-22. The order demands ₹9,02,10,392 in GST and a penalty of ₹90,21,037, plus interest. The company believes the demand is unjustified and plans to appeal. Investors should monitor the progress of this legal challenge and its potential impact on the company's financials.
Key Highlights
GST demand of ₹9,02,10,392
Penalty of ₹90,21,037
Order relates to FY 2021-22 GST Audit
Order No. ZD091225178112I dated 10.12.2025
💼 Action for Investors
Investors should monitor updates on the company's appeal against the GST order. Any material impact on financials due to this order could affect the stock price.