Hitachi Energy India Shares Rally Around 13% After Strong Q2FY26 Performance

Mumbai, November 4, 2025: The shares of Hitachi Energy India Limited witnessed a massive rally on Tuesday morning as the stock jumped by almost 13% in the morning trade. This was after the company’s announcement of the financial results for the second quarter of the current financial year. The company announced an increase of 23.3% in revenues and a 405.6% jump in PAT, causing a rally in the stocks ignited by strong investor interest.

Stock Price Movement

As of 11:00 AM, the shares were trading at ₹20120 (12.36% higher from the previous day’s closing price). The high and low ranges so far were between ₹20,351 and ₹18,670. The stock is slowly closing in on the 52-week high of ₹21800. The trading volume so far was quite high (7.37 shares worth ₹1400 crores already traded). The company’s P/E ratio is 158.27 compared to the industrial average of 62.34. After today’s surge, the stock has risen by close to 35% in the past 6 months.

Financial Performance Assessment

In the second quarter of FY26, revenue rose 23.3% from last year to ₹1,915.2 crore. Profit after tax increased by 405.6% to ₹264.4 crore. Operational EBITDA jumped 130.5% compared to the previous year, and even this quarter alone, it’s up 15.2%. The HVDC Orders have climbed 28% this year, showing strong revenue forecasts for upcoming months.

Robust Order Book and Momentum in Execution

As of September 30, the company’s order book reached ₹29412.6 crore. The orders mostly relate to gas and air-insulated switchgear stations and locomotive transformers. The company expects to export around 30.4% of its open orders to overseas customers in Southeast Asia, the Middle East, North America and Europe. The service also saw an increase of 35% in orders, mostly from repeat customers. The company also landed India’s first order for EconiQ SF6-free technology.

Management Commentary

The management expressed satisfaction with the results, and the MD and CEO of the company, Mr. N. Venu, attributed the company’s growth to the energy transition that the country is witnessing today. Mr Venu suggested that the company’s focus remains on attaining strategic agility and pushing the non-fossil energy capacity enhancement of the government through operational efficiency.

Profitability and Balance Sheet

The firm reported a Profit Before Tax (PBT) of ₹352.9 crore, up nearly 400% YoY, while the Profit After Tax (PAT) surged over 405% to ₹264.4 crore. Operational EBITDA surged sharply to ₹291.6 crore, with a sustained margin of 15.2% led by better execution, a better product mix, and export-led momentum. On the balance sheet side, cash and cash equivalents were ₹4,658.6 crore at September 30, 2025, compared to ₹3,806.6 crore at March 31, 2025, strengthening liquidity and, in turn, the working capital position.

REF: https://nsearchives.nseindia.com/corporate/HitachiEnergy_03112025165008_Outcome.pdf

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