Hitachi Energy India Q3 PAT Surges 90% On Record Order Book

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AuthorIshaan Verma|Published at:
Hitachi Energy India Q3 PAT Surges 90% On Record Order Book
Overview

Hitachi Energy India reported robust Q3 FY26 results, with revenue up 29.6% YoY to ₹2,168 crore and PAT soaring 90.3% to ₹261.4 crore. Operational EBITDA margin improved significantly to 15.6%. The company achieved its highest-ever order backlog of ₹29,872 crore, driven by strong demand in transformers, GIS, and AIS, particularly from data centers and renewables. Management sees significant growth opportunities from India's electrification drive and global AI-driven energy needs.

📉 The Financial Deep Dive

Hitachi Energy India Limited has announced its unaudited financial results for the third quarter and nine months ended December 31, 2025 (Q3 FY26), showcasing a period of strong year-on-year (YoY) growth.

The Numbers:

  • Revenue: Grew by a significant 29.6% YoY to ₹2,168.0 crore in Q3 FY26, up from ₹1,672.4 crore in Q3 FY25. Sequentially (QoQ), revenue increased by 13.2%.
  • Profit After Tax (PAT): Surged by 90.3% YoY to ₹261.4 crore in Q3 FY26, compared to ₹137.4 crore in the prior year period. QoQ PAT saw a marginal decline of 1.1% due to the impact of new labour codes.
  • Operational EBITDA: Increased by 100.4% YoY to ₹338.4 crore in Q3 FY26.
  • Operational EBITDA Margin: Expanded to 15.6% in Q3 FY26 from 10.1% in Q3 FY25.

For the nine months ended December 31, 2025 (9MFY26), revenue grew 24.0% YoY to ₹5,603.6 crore, and PAT increased by 228.5% YoY to ₹657.4 crore. The operational EBITDA margin for 9MFY26 improved to 14.3% from 7.9% in 9MFY25.

The Quality:

The company demonstrated robust margin expansion, with the operational EBITDA margin growing by 550 basis points YoY to 15.6% in Q3 FY26. An exceptional item of ₹54.24 crore was recognized for the impact of the New Labour Codes, which influenced the QoQ PAT figures. While detailed balance sheet and cash flow statements were not provided in this excerpt, the strong revenue and PAT growth, coupled with margin improvement, indicate positive operational performance.

The Grill:

No specific management grill was detailed in the provided text. However, management commentary highlighted the company's strategic positioning and outlook.

Management Commentary & Outlook:

N Venu, MD & CEO, pointed to the accelerating pace of electrification globally and in India, driven by AI's power demands and strategic infrastructure needs. The company is poised to support AI-ready data centers and contribute to a sustainable energy future. In India, efforts towards electrification are expected to fuel significant capacity expansion, grid reliability, and energy access, aiming for 2,000 kWh per capita consumption by 2030. The positive outlook is further supported by the EU-India FTA, fostering clean-energy collaboration.

🚩 Risks & Outlook:

While the outlook is predominantly positive, potential risks include execution delays in large projects and market headwinds. The company is strategically positioned to capitalize on the growing demand for electrification, grid modernization, and AI-driven infrastructure, aiming for sustained leadership in delivering reliable, affordable, and sustainable power solutions. The record order backlog of ₹29,872.2 crore as of December 31, 2025, provides significant revenue visibility for the next few quarters.

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