Hitachi Energy India Posts 26% Order Growth, Breaks Ground on 20th Manufacturing Facility
The power equipment maker secured its highest-ever order backlog of ₹32,242 crores while expanding capacity to support India's energy transition.
Record Order Backlog Signals Strong Demand
Hitachi Energy India Limited reported robust order intake of ₹5,096.5 crores for the first quarter of fiscal year 2027, representing 26.1% year-over-year growth on a comparable basis excluding large HVDC projects. The company closed the quarter with its "highest order backlog ever" at ₹32,242.1 crores, providing strong revenue visibility for coming quarters (earnings call, 2026-08-07).
Managing Director and CEO N. Venu attributed the performance to "continued focus on operational excellence and execution of the project our order backlog in a disciplined way," noting that the company started the fiscal year with "very robust growth in outer orders and revenues" (earnings call, 2026-08-07).
Key Contract Wins Span Emerging Sectors
The quarter marked several strategic milestones for the company. Hitachi Energy India secured its first battery energy storage system project—a 165-megawatt to 317-megawatt installation—which Venu described as "a major milestone" and "strong validation of our capabilities in big integration" (earnings call, 2026-08-07).
Other notable wins included a 2-gigawatt wind power evacuation project in Europe and gas-insulated switchgear solutions for a 100-gigawatt solar park in western India. The company also secured multiple orders from hyperscalers in the data center segment, including a 42.5 MVA project in Hyderabad awarded by "a leading Indian multinational" (earnings call, 2026-08-07).
New Vadodara Facility to Support Capacity Expansion
In June 2026, the company began construction on its 20th manufacturing facility in Karjan, Vadodara. The plant, designed as "a fully digital and smart manufacturing unit," is targeted for commissioning in the last quarter of calendar year 2028 (earnings call, 2026-08-07).
Venu emphasized that the investment "reinforces our commitment to India's energy transition, energy security and the government's vision of Make in India" (earnings call, 2026-08-07). The facility will leverage advanced technologies to enhance quality and productivity while supporting growing domestic and export demand.
Sustainability Targets on Track
The company reported progress toward its 2030 environmental targets, expecting to achieve most goals by the end of the current fiscal year. Hitachi Energy India achieved a 16% reduction in freshwater usage compared to its 2019 baseline, with the Halol facility receiving water-positive certification. Gender diversity improved to 10%, with the company targeting an additional 3-4 percentage point increase by 2030 (earnings call, 2026-08-07).
Market Outlook Remains Strong
Management highlighted multiple demand drivers supporting long-term growth, including renewable energy integration, data center expansion, electric vehicle adoption, and grid modernization. "India continues to witness unpresented in as plant in transmission infratructure," Venu stated, adding that "the long-term structural driver continue to create a significant and sustainable growth opportunities for our industry" (earnings call, 2026-08-07).
According to MarginX data, the company has declared a cash dividend of ₹8.00 per share payable on August 21, 2026, with its annual general meeting scheduled for August 28, 2026.
This article was generated by MarginX from the earnings call on 2026-08-07. It is not investment advice.