Hitachi Energy posts ₹330.5 cr Q4 profit and bets ₹2,000 cr on a Gujarat factory
Quarterly profit jumped 80% on a 46% revenue surge. The board also cleared a ₹2,000 cr greenfield transformer plant, lifting total planned capex to ₹4,000 cr.
— 3 earlier stories on Hitachi Energy India Ltd. →What's new
- Q4 revenue rose 46% to ₹2,754 cr; PAT surged 80% to ₹330.5 cr.
- Full-year PAT doubled to ₹988 cr on 28% revenue growth to ₹8,148 cr.
- Board approved a ₹2,000 cr greenfield factory in Karjan, Gujarat.
Why this matters
The numbers are good. The order book is better. At ₹29,555 crore, it dwarfs the ₹8,148 crore in annual revenue just reported. The board is betting that backlog can be converted into profit by building capacity now. The open question is how quickly the new plant comes online.
What we're watching
- Whether the ₹4,000 cr capex is funded by debt or equity.
- If the Gujarat plant can be built fast enough to serve the order backlog.
- Margin trajectory as the ₹29,555 cr backlog converts to revenue.
The full read
Hitachi Energy's Q4 results are strong. The main course is the order book: ₹29,555 crore as of March 31. That backlog is substantially larger than the ₹8,148 crore in full-year revenue the company just reported. The business is already scaling. Q4 revenue rose 46% to ₹2,754 crore and profit jumped 80% to ₹330.5 crore. For the full year, PAT grew to ₹988 crore. The board is now betting on conversion. It approved a ₹2,000 crore greenfield factory in Gujarat, lifting total planned capex to ₹4,000 crore. The guarantee embedded in that backlog justifies the spend. A big one.
Questions answered
- How large is the order backlog relative to last year's revenue?
- The ₹29,555 crore order book is significantly larger than the ₹8,148 crore in full-year revenue. It represents a record for the company.
- What is the new Gujarat factory investment?
- The board approved a ₹2,000 crore investment for a greenfield power-transformers plant in Karjan. This brings total planned capital expenditure to ₹4,000 crore.
- How did quarterly profit grow versus the full year?
- Q4 profit after tax surged 80% to ₹330.5 crore. For the full year, PAT grew to ₹988 crore, more than doubling the prior year.
- What does the order backlog mean for future revenue?
- The backlog provides visibility into future earnings well beyond the next fiscal year. The key operational challenge is converting that backlog into revenue efficiently.
Hitachi Energy India Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on POWERINDIA →- 25 May 2026 · 7:47 PM IST Hitachi Energy posts ₹330.5 cr Q4 profit and bets ₹2,000 cr on a Gujarat factory
- 35d ago Hitachi Energy's ₹2,000 cr Vadodara bet is a bet on India's data-center boom
- 41d ago Hitachi Energy's ₹29,555 cr backlog doubles transformer capacity
- 42d ago Hitachi Energy profit more than doubles, plans ₹2,000 cr Gujarat factory