Hitachi Energy India Ltd reported a record-high order backlog of Rs 89.1 billion as of September 30, 2024, marking unprecedented revenue visibility for upcoming quarters.
Orders for the quarter ending September 30 totalled Rs 19.52 billion, reflecting an 11.7% year-on-year increase, driven largely by renewable projects in utilities, power quality, and substations.
Notable contributions also came from expansions and efficiency upgrades in existing plants, with significant orders from the transformer and power quality sectors spanning industries such as transportation, utilities, and data centres.
A key order included a mandate from India’s national transmission utility for 14×500 MVA, 765kV transformers. Exports accounted for 22% of Q2 orders, with major demand for high-voltage products and grid integration projects from Europe and Africa. Hitachi Energy India’s service portfolio also grew 65% year-on-year, securing contracts for large-scale projects such as a generator circuit breaker overhaul for a major dam.
The company reported a 51.6% increase in order inflows for H1 FY25, reaching Rs 43.89 billion, reflecting growing investments in energy transition initiatives both in India and globally. Managing Director & CEO N Venu highlighted the surge in the sector, attributing the favourable business conditions to India’s accelerated focus on energy transition.
According to Hitachi’s investor presentation, India’s power transmission network is projected to expand from the current 4.85 lakh circuit kilometres (ckm) to 6.48 lakh ckm by 2032, with anticipated investments of Rs 9.15 trillion.