Hitachi Energy profit more than doubles, plans ₹2,000 cr Gujarat factory
Q4 revenue rose 46% and profit jumped 80%. The board approved a new transformer factory, 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, profit jumped 80% to ₹330.5 cr.
- Full-year profit more than doubled to ₹988 cr on 28% revenue growth to ₹8,148 cr.
- Board approved ₹2,000 cr for a greenfield transformer factory in Karjan, Gujarat.
Why this matters
A ₹29,555 cr order backlog against ₹8,148 cr in annual revenue means the company has years of contracted work ahead. The ₹2,000 cr Gujarat investment, taking total planned capex to ₹4,000 cr, is a bet that grid-infrastructure demand is durable, not a one-off spike.
What we're watching
- Execution on the ₹2,000 cr Gujarat plant — timelines and capacity targets.
- Whether order inflow sustains the record backlog pace.
- The ₹8 per share dividend versus the heavy reinvestment.
The full read
Hitachi Energy India's Q4 results confirm a demand cycle that isn't letting up. Revenue hit ₹2,754 cr, up 46%, while profit jumped 80% to ₹330.5 cr. For the full year, profit more than doubled to ₹988 cr on 28% revenue growth. The real signal is the backlog: ₹29,555 cr, a record, against ₹8,148 cr in annual revenue. The board also approved a ₹2,000 cr greenfield factory in Gujarat for power transformers, taking total planned capex to ₹4,000 cr. This is capacity spending, not maintenance. The company is deploying capital at a pace that assumes the order book reflects a durable shift in grid infrastructure, not a temporary surge. A final dividend of ₹8 per share accompanies the reinvestment.
Questions answered
- How large is the order backlog relative to annual revenue?
- The ₹29,555 cr backlog is the company's record. Against ₹8,148 cr in FY26 revenue, it represents multiple years of contracted work already on the books.
- What is the ₹2,000 cr investment for?
- The board approved a greenfield power transformers factory in Karjan, Gujarat. This takes total planned capital expenditure to ₹4,000 cr.
- How did profit growth compare to revenue growth for the full year?
- Full-year PAT more than doubled while revenue rose 28%. That gap points to material margin expansion across the year.
- What dividend did the board recommend?
- A final dividend of ₹8 per share was recommended for FY26.
Hitachi Energy India Ltd.
Latest quarter · Mar 2026
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All notes on POWERINDIA →- 25 May 2026 · 7:53 PM IST Hitachi Energy profit more than doubles, plans ₹2,000 cr 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 posts ₹330.5 cr Q4 profit and bets ₹2,000 cr on a Gujarat factory