ALFA Finder
The call ran from 5:01 PM to 5:59 PM IST (58 min).
Key takeaways
Q2 orders ₹4,121 Cr (+86% ex-HVDC), revenue ₹2,997 Cr (+63.5%), EBITDA margin 16.5%. Reported H1 orders fell 32%, and H1 operating cash flow collapsed to ₹91 Cr.
| Revenue growth | Revenue +63.5% YoY, +20.2% QoQ; H1 revenue +65.8%. |
|---|---|
| Margins | EBITDA margin 16.5% vs 15.9% prior-year Q2; material cost 61.7%. |
| Order book | Backlog ₹33,335 Cr, double-digit YoY; H1 reported orders down 32%. |
| Demand visibility | Backlog ₹33,335 Cr; visibility claimed to 2035, largely market-based. |
| Management confidence | Upbeat but evasive; repeatedly declined to give numerical guidance. |
Growth
Revenue +63.5% YoY, +20.2% QoQ; PBT +22% YoY to ₹430 Cr after ~₹88 Cr notional forex loss. EBITDA +69.5% YoY, so operating leverage is positive.
Outlook
No company guidance given. Management cites 4-5 HVDC projects expected in 12-24 months (market view); backlog ₹33,335 Cr.
Risks
H1 reported orders down 32% YoY; OCF ₹91 Cr vs ₹874 Cr on HVDC contract assets. Margin outlook refused as guidance.
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Hitachi Energy India Q2 FY27 Results: Net Profit ₹318.5 Cr, Up 20.5% YoY
Hitachi Energy India Ltd reported revenue from operations of ₹2,996 Cr (+63.5% YoY) and net profit of ₹318.5 Cr (+20.5% YoY) for Q2 FY27.
- Key figure
- Net profit ₹318.5 Cr · +20.5% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Announced incremental ₹2,000 crore capex for a greenfield transformer facility in Vadodara, targeting completion by Q4 2028.
Growth they described
FY26 revenue reached ₹8,147.7 crore; Q4 revenue spiked 46.2% YoY. Growth is structurally driven by energy transition and electrification.
Call details
| Company | Hitachi Energy India Ltd |
|---|---|
| NSE symbol | POWERINDIA |
| ISIN | INE07Y701011 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 12 November 2026 |
| Time | 5:00 PM IST |
| Length | 58 min |
| Audio | Our stream on YouTube ↗ |
Hitachi Energy India Ltd: key numbers
- Share price
- ₹28,545.00
- Market cap
- ₹1,27,232 Cr
- Revenue (annual)
- ₹8,148 Cr
- Net profit (annual)
- ₹987.8 Cr
- P/E (TTM)
- 110.6×Sector 51.9×
- Promoter holding
- 71.31%+0.00% QoQ
- FII holding
- 11.96%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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