Hitachi Energy Q4 profit rises 80%; approves Rs 2,000 crore capex
Hitachi Energy India Limited reported a 79.7% year-on-year (YoY) increase in net profit for the fourth quarter of FY26, supported by strong revenue growth and improved operating margins. The company also approved an additional capital expenditure of Rs 2,000 crore to expand manufacturing capacity, including a new large power transformer facility in Gujarat.
Net profit for the quarter ended March 31, 2026, rose to Rs 330.5 crore from Rs 183.9 crore in the corresponding quarter last year. Revenue from operations increased 46.2% YoY to Rs 2,754.1 crore, compared to Rs 1,883.7 crore in Q4 FY25.
Operational earnings before interest, taxes, depreciation and amortisation (EBITDA) for Q4 FY26 stood at Rs 452.4 crore, up 92.0% YoY. EBITDA margin expanded to 16.4% from 12.5% in the year-ago period.
For the full financial year ended March 31, 2026, revenue from operations grew 27.6% YoY to Rs 8,147.7 crore. Net profit more than doubled to Rs 987.8 crore from Rs 384.0 crore in FY25, reflecting a 157.2% increase.
The board recommended a final dividend of Rs 8 per equity share of face value Rs 2 each, equivalent to 400% for FY26. The proposal is subject to shareholder approval at the annual general meeting scheduled for August 28, 2026.
The company separately approved an additional investment of Rs 2,000 crore for manufacturing expansion projects, including a greenfield large power transformers facility at Karjan in Vadodara, Gujarat. The announcement follows an earlier capex plan disclosed on October 7, 2024, taking the company’s cumulative investment commitment to Rs 4,000 crore.
During Q4 FY26, total orders received stood at Rs 2,422.5 crore, marking a 10.6% YoY increase. Order inflows were led by high voltage direct current (HVDC) control system refurbishment, grid connection solutions, transformers, and disconnectors. The data centre segment remained the largest contributor to orders, followed by rail and metro projects.
Exports contributed 36.8% of quarterly orders, with key inflows from the United States, Europe, and Asia-Pacific (APAC) markets. Service-related orders, including system refurbishment, supervisory control and data acquisition (SCADA) upgrades, and lifecycle services, accounted for 23.9% of the quarterly order book.
The company’s order backlog reached a record Rs 29,555.3 crore as of March 31, 2026, reflecting a 53.5% YoY increase and providing multi-quarter revenue visibility.
During the quarter, Hitachi Energy India commissioned India’s first HVDC city centre infeed project in Mumbai, highlighting its execution capabilities in urban power infrastructure projects.
N Venu, Managing Director and Chief Executive Officer (CEO), said the company maintained focus on operational efficiency, customer experience, and project execution, while sustaining growth momentum despite geopolitical uncertainties.
The company said energy security and grid investments remain key priorities amid global supply chain disruptions and cost pressures, while clean energy allocations in the Union Budget FY2026-27 are expected to support sector growth.
