Hitachi Energy India Limited announces Q1 FY27 results: Robust order inflows and strong order execution drive growth momentum in Q1 FY27
Press Release | Bengaluru, India | 07.08.2026 | 6 min read
QUARTER HIGHLIGHTS
- Strong order growth of 26.1% YoY1
- Revenue growth of 68.6% YoY
- Double-digit Op EBITDA margin of 16.0%
- Secured first BESS order for 165 MW / 330 MWh BESS project
- Highest ever order backlog of INR 32,222.1 crore
Bengaluru, August 07, 2026 – Hitachi Energy India Ltd. announces results for April to June 2026 (Q1FY27).
1.Orders surged by 26.1% YoY and 39.7% QoQ, excluding the HVDC orders in the respective quarters.
2.Due to a higher revenue base in the previous quarter.
**Margins are calculated as percent of revenue from operations. The Company evaluates 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), for the quarter ended June 30th, 2026, loss INR 36.37 crores, and (vi) Depreciation expenses on tangibles assets.
Results for Q1FY27 ended on June 30, 2026:
Hitachi Energy India Limited started the new financial year (FY) on a strong note, building on the growth momentum of the preceding FY. The country has seen a surge in electrification driven by transport, manufacturing, digital infrastructure, and the clean energy industry. India’s growing domestic power demand and structural advantages provide a significant opportunity for the energy sector.
Commenting on the quarterly results, N Venu, Managing Director & CEO of Hitachi Energy India Ltd., said, " The Q1FY27 indicates excellent overall performance, resulting in robust order and revenue growth. It reflects strong market momentum, driven by a surge in opportunities stemming from the energy transition & security across the country and globally. At Hitachi Energy India Limited, we preempted this surge and laid out a long-term strategy across all our businesses to best address the surge in these opportunities, in this electricity era.
Q1 FY27 demonstrates our continuous focus on enhancing operational efficiency, which aided the strong execution of our order book. To strengthen our execution capabilities and to create a more robust supply chain in the market, we began the construction of Hitachi Energy India Ltd.'s 20th manufacturing unit at Karjan, Vadodara, in June 2026. It reflects our commitment to our nation’s energy security and the vision of ‘Make in India’.”
Orders
During Q1FY27, orders totaled INR 5,096.5 crore, up 26.1% year-on-year (YoY) excluding the HVDC order received in the respective quarters. Strong market demand sustained growth momentum, driving robust order inflows in the first quarter. Quarter’s orderbook was led by orders for HVDC, grid connection solutions, power quality equipment, and transformers. Whereas data centers contributed significantly, followed by industries and renewables, in terms of segment-wise order breakup.
The Company’s first BESS order of 165 MW / 330 MWh BESS project in Andhra Pradesh is a major milestone. It reinforces customer trust and unlocks significant growth opportunities in the energy storage segment. With the government focused on capacity expansion and optimization for assimilation of power into the grid, we expect the growth momentum in the energy storage segment to continue.
The export segment continued to grow in Q1FY27, accounting for 33.6% of total orders (without HVDC) booked for the quarter. The Company received export orders from Europe, North America, and South Asia for grid integration and power quality products.
Service orders came from the utilities, discoms, industry, and transport for the bay extension, switchyard commissioning, maintenance, and lifecycle services, among others.
The Company’s growth saga continues in the opening quarter of FY27, resulting in a highest ever order backlog of INR 32,222.1 crore. The same provides revenue visibility for several quarters.
Revenue
For the quarter, revenue grew 68.6% YoY, driven by strong, timely execution of order backlog across all businesses. It reiterates the Company’s continuous effort toward enhancing operational efficiency, which helps it to clock revenue from operations of INR 2,493.7 crore in Q1FY27 against INR 1478.9 crore in Q1FY26.
Profit
Backed by efficient execution of a favorable product mix, strong operational efficiencies, and a growing export contribution, the Company continues to secure a healthy margin growth. It also resulted in YoY growth in profit before tax (PBT) of 120.2% and profit after tax (PAT) of 123.5%. For the quarter, PBT stands at INR 389.5 crore and PAT at INR 294.2 crore.
Operational EBITDA for the quarter stood at INR 399.9 crore, resulting in a double-digit margin of 16.0%. The same reemphasizes the Company’s commitment toward improving margins and strengthening overall operational efficiency and capacity.
Outlook
The advent of the new fiscal year opens up more opportunities in emerging segments such as AI data centers, smart grids, BESS, and electric vehicle infrastructure, to name a few. With the new target of 900 GW of non-fossil fuel installed capacity by FY36, opportunities in the renewable energy segment will grow manifold, which also calls for a robust energy manufacturing ecosystem to meet the nation's growing energy needs.
To deliver on this mammoth task, we would require closer collaboration among all stakeholders and a level-playing-field policy to ensure equal opportunities for players, both domestic and global. Also, a quick resolution of the ongoing geopolitical tension is quite essential for the world economy's growth. The prolongation of the current situation might hinder the pace of energy transition worldwide.
About Hitachi Energy
Hitachi Energy is a global leader in electrification, powering the electricity era to meet the energy demands of today, and the next 25 years. As the energy arm of Hitachi Group, over three billion people depend on our pioneering, mission-critical technologies to power their daily lives. With over a century of innovation, we are addressing the most urgent energy challenge of our time: driving the evolution of the world’s energy system to ensure abundant, secure, affordable, and sustainable power for today’s generation and the next. With an unparalleled installed base in over 140 countries, we are the grid ecosystem partner across the utility, industry, data center, and transportation sectors. Headquartered in Switzerland, we employ over 56,000 people in 60 countries and generate revenues of around $20 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.
https://www.linkedin.com/company/hitachienergy
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 www.hitachi.com.
Contacts
Seema Siddiqui,
Head of Communication and Government Relations
Hitachi Energy India Limited