Hitachi Energy
Hitachi Energy
Capital Goods F&OKey Fundamentals
LargecapElectrical EquipmentCapital GoodsTapetide Score
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Key Insights
Strengths
3- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 53.7% CAGR over last 5 years
Weaknesses
2- Stock is trading at 27.0 times its book value
- Promoter holding has decreased over last 3 years: -3.69%
Growth Rate
AI Analysis — Bull vs Bear
Hitachi Energy India has a market capitalisation of about ₹1,39,712 crore. Its growth has sped up sharply: TTM sales are up 40% against a 5-year sales CAGR of 19%, and TTM profit is up 136% against a 5-year profit CAGR of 54%. ROE has risen to 22% last year from a 5-year average of 17%. The stock trades at 119.3x earnings and 26.53x book value, has returned a 96% CAGR over 3 years, and its promoter holding has fallen by 3.69 percentage points over the same 3 years.
- Revenue growth is speeding up. TTM sales growth of 40% is roughly double the 5-year sales CAGR of 19% and well above the 3-year CAGR of 22%, which suggests order execution has picked up recently.
- Profit is growing much faster than sales. Compounded profit growth is 136% TTM, 122% over 3 years and 54% over 5 years, which points to improving operating leverage and margins.
- Return ratios are improving. ROE rose to 22% last year from a 3-year average of 18% and a 5-year average of 17%.
- The company is almost debt-free, so it can fund working capital and capacity expansion without much interest cost or balance-sheet risk.
- Shareholders have seen strong price gains: stock CAGR of 62% over 1 year, 96% over 3 years and 68% over 5 years, showing sustained market recognition of the earnings turnaround.
- Near-term momentum is positive. The company is expected to report a good quarter after TTM profit growth of 136%.
- With a market cap of about ₹1,39,712 crore, it is one of the largest listed players in power transmission and grid equipment in the Capital Goods sector, which gives it scale and liquidity.
- The valuation is steep. A P/E of 119.3 means an earnings yield of about 0.84%, so the current price assumes many years of high growth.
- Price-to-book is 26.53x, or 26.7x per the screener data, against a 5-year average ROE of only 17%. The price is far ahead of historical return on equity.
- The share price has run ahead of the business. The stock's 3-year CAGR of 96% is more than four times the 3-year sales CAGR of 22%, which suggests much of the return came from the valuation multiple expanding.
- Promoter holding fell by 3.69 percentage points over the last 3 years. This reduces the promoter's share of the company, even if part of the fall came from equity dilution.
- The profit growth numbers are inflated by a low base. A 3-year profit CAGR of 122% cannot be repeated at the current scale, and slower growth could lead to a sharp de-rating from a P/E of 119.3.
- Dividend yield is only 0.03%, so there is almost no income cushion if the share price corrects.
- Longer-term return ratios are modest. The 5-year average ROE of 17% and 3-year average of 18% only recently rose to 22%, so it is not yet proven that returns at this level can last.
This is AI-generated analysis, not financial advice. Do your own due diligence. Notes on the data: the ROE of 22% is the last-year figure from the growth metrics because the headline ROE was not provided. The debt-to-equity ratio was not provided and is left as null. The 52-week high and low were reported as 0 and were not used.
AI News Digest
- ₹6,000 cr RPT approval sought Sep 11
Hitachi Energy India is asking shareholders to approve related-party transactions with group entities worth ₹6,000 crore for FY27. Voting opens September 13, 2026. This is routine for an MNC subsidiary, but the size of the group dependence is worth tracking.
- Active institutional investor outreach Sep 17
The company hosted a group meeting with analysts and institutional investors at the Jefferies India Conference 2026 in Gurgaon on September 16. It also scheduled an in-person one-on-one meeting with Macquarie India on September 22, 2026, disclosed under SEBI LODR Regulation 30.
- ₹60.40 cr large trade flagged Sep 25
About 19,460 shares changed hands on NSE at ₹31,040 per share, for a combined value of ₹60.40 crore. This was a real-time large-trade signal, not a confirmed exchange-reported block deal, and the buyer and seller were not identified.
TL;DR: Recent news flow for Hitachi Energy India is entirely procedural, with no direct positive or negative fundamental triggers. Steady meetings with institutional investors (Jefferies, Macquarie) point to continued interest from investors, and a ₹60.40 crore large trade at ₹31,040 suggests active institutional buying and selling, though its direction is unknown. The ₹6,000 crore related-party transaction proposal for FY27 is standard for the business but shows how much it relies on parent-group dealings. With no new order wins or earnings data here, the trend is stable rather than improving or deteriorating, so watch the RPT vote outcome and upcoming quarterly results for the next real signal.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,040 | 1,228 | 1,274 | 1,695 | 1,327 | 1,554 | 1,620 | 1,884 | 1,479 | 1,833 | 2,082 | 2,754 | 2,494 |
| Expenses | 1,006 | 1,163 | 1,206 | 1,513 | 1,279 | 1,444 | 1,453 | 1,646 | 1,324 | 1,534 | 1,737 | 2,338 | 2,130 |
| Operating Profit | 34 | 65 | 68 | 182 | 48 | 110 | 167 | 238 | 155 | 299 | 345 | 416 | 364 |
| OPM % | 3.2% | 5% | 5% | 11% | 3.6% | 7% | 10% | 13% | 10% | 16% | 17% | 15% | 15% |
| Other Income | 3 | 0 | 2 | 4 | 0 | 0 | 52 | 38 | 51 | 83 | 32 | 57 | 58 |
| Interest | 11 | 11 | 14 | 11 | 11 | 16 | 12 | 6 | 4 | 3 | 3 | 3 | 3 |
| Depreciation | 22 | 22 | 23 | 23 | 22 | 23 | 23 | 23 | 25 | 26 | 27 | 27 | 28 |
| PBT | 3 | 32 | 34 | 152 | 15 | 71 | 184 | 247 | 177 | 353 | 348 | 443 | 390 |
| Tax % | 29% | 24% | 32% | 25% | 31% | 26% | 25% | 25% | 26% | 25% | 25% | 25% | 24% |
| Net Profit | 2 | 25 | 23 | 114 | 10 | 52 | 137 | 184 | 132 | 264 | 261 | 330 | 294 |
| EPS in Rs | 0.57 | 5.84 | 5.42 | 26.82 | 2.46 | 12.34 | 32.41 | 41.26 | 29.52 | 59.31 | 58.65 | 74.14 | 65.99 |
Profit & Loss
| Particulars | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2022 15m | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,236 | 3,420 | 3,771 | 4,884 | 4,469 | 5,237 | 6,385 | 8,148 | 9,162 |
| Expenses | 2,899 | 3,152 | 3,526 | 4,560 | 4,218 | 4,878 | 5,780 | 6,879 | 7,738 |
| Operating Profit | 337 | 269 | 244 | 323 | 250 | 359 | 605 | 1,268 | 1,424 |
| OPM % | 10% | 8% | 6% | 7% | 6% | 7% | 9% | 16% | 16% |
| Other Income | -41 | -18 | 74 | 101 | 15 | 9 | 57 | 185 | 229 |
| Interest | 28 | 38 | 32 | 53 | 54 | 57 | 54 | 28 | 12 |
| Depreciation | 48 | 77 | 81 | 95 | 80 | 90 | 91 | 104 | 108 |
| PBT | 221 | 136 | 206 | 277 | 131 | 222 | 516 | 1,321 | 1,534 |
| Tax % | 25% | 27% | 26% | 26% | 28% | 26% | 26% | 25% | — |
| Net Profit | 165 | 100 | 152 | 203 | 94 | 164 | 384 | 988 | 1,150 |
| EPS in Rs | 39.02 | 23.55 | 35.8 | 47.99 | 22.16 | 38.64 | 86.15 | 222 | 258 |
| Div. Payout % | 0% | 8% | 0% | 6% | 15% | 10% | 7% | 4% | — |
Balance Sheet
| Particulars | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | — | 8 | 8 | 8 | 9 | 9 |
| Reserves | 831 | 924 | — | 1,124 | 1,207 | 1,351 | 4,205 | 5,167 |
| Borrowings | 348 | 39 | — | 190 | 334 | 214 | 88 | 86 |
| Other Liabilities | 2,253 | 2,532 | — | 2,201 | 2,369 | 3,134 | 4,311 | 6,782 |
| Total Liabilities | 3,441 | 3,503 | — | 3,524 | 3,919 | 4,707 | 8,613 | 12,044 |
| Fixed Assets | 579 | 656 | — | 653 | 713 | 695 | 717 | 845 |
| CWIP | 57 | 32 | — | 118 | 49 | 63 | 90 | 192 |
| Investments | 0 | 0 | — | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 2,804 | 2,815 | — | 2,753 | 3,157 | 3,950 | 7,807 | 11,006 |
| Total Assets | 3,441 | 3,503 | — | 3,524 | 3,919 | 4,707 | 8,613 | 12,044 |
Cash Flow
| Particulars | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | -73 | 610 | -127 | -127 | 5 | 252 | 1,494 | 1,245 |
| Investing | -73 | -89 | -167 | -167 | -12 | -89 | -110 | -271 |
| Financing | 333 | -390 | 61 | 61 | 84 | -199 | 2,295 | -91 |
| Net Cash Flow | 188 | 131 | -233 | -233 | 77 | -35 | 3,679 | 883 |
| Free Cash Flow | -146 | 519 | -294 | -294 | -7 | 163 | 1,366 | 735 |
| CFO/OP | 0 | 244 | -14 | -10 | 29 | 84 | 273 | 138 |
Ratios
| Particulars | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 201 | 168 | — | 106 | 125 | 106 | 90 | 86 |
| Inventory Days | 102 | 103 | — | 93 | 110 | 101 | 91 | 119 |
| Days Payable | 286 | 327 | — | 213 | 204 | 205 | 202 | 246 |
| Cash Conversion Cycle | 18 | -57 | — | -14 | 31 | 2 | -20 | -42 |
| Working Capital Days | 0 | -10 | — | 19 | 21 | 29 | -31 | -46 |
| ROCE % | — | 19% | — | 26% | 13% | 18% | 19% | 29% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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62 extracted metrics + investor summaries across FY17–FY27.
Documents
Frequently Asked Questions about Hitachi Energy
What does Hitachi Energy India Ltd do?
Where is Hitachi Energy India Ltd (POWERINDIA) listed?
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What is the 52-week high and low of Hitachi Energy India Ltd?
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What is the Return on Equity (ROE) of Hitachi Energy India Ltd?
Company Information
Hitachi Energy India Ltd (formerly known as ABB Power Products and Systems India Ltd.) was created in 2019 as a Joint Venture between Hitachi and ABB's Power Grids. The company serves utility and industry customers, with a complete range of engineering, products, solutions, and services in areas of Power technology. [1][2]
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