Hitachi Energy share price: Hitachi Energy India shares rallied over 9% on Friday, November 13, after the company reported a strong performance for the September 2026 quarter, supported by robust revenue growth, higher order inflows and a record order backlog. The company’s net profit increased 21% year-on-year (YoY), while revenue surged 63.5% in Q2 FY27.
The company also reported an 85.9% jump in orders during the quarter, reflecting sustained demand across power transmission, utilities and data centres. Meanwhile, exports and the services business continued to contribute to growth, strengthening the company’s overall business outlook.
Hitachi Energy Q2 results: Revenue jumps 63.5%, orders surge 86%
Hitachi Energy India reported a 21% YoY increase in net profit to ₹318.5 crore for the September 2026 quarter, compared with ₹264.4 crore in the corresponding quarter last year, according to a company statement.
Revenue for the second quarter of FY27 surged 63.5% to ₹2,996.5 crore from ₹1,832.6 crore in the year-ago period. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 36.4% to ₹406.3 crore, compared with ₹297.8 crore a year earlier. However, EBITDA margin contracted to 13.6% from 16.3% in Q2 FY26.
The company attributed its growth to a sustained focus on operational efficiency and timely execution of orders.
Commenting on the performance, N Venu, Managing Director and CEO of Hitachi Energy India, said the company had invested in new infrastructure and was strengthening its existing capabilities to capitalise on emerging opportunities.
“Both orders and revenue continue to secure sustained year-on-year (YoY) growth, backed by disciplined order execution over the quarter,” Venu said.
Hitachi Energy order book: Inflows rise 86%, backlog hits record high
The company’s order inflows jumped 85.9% to ₹4,120.8 crore in Q2 FY27, compared with ₹2,217.1 crore in the corresponding period last year, supported by positive market demand.
Transmission orders from utilities led the order book, with demand for power transformers, STATCOM, cooling systems, air-insulated switchgear (AIS) and gas-insulated switchgear (GIS). Data centres emerged as the second-largest contributor to the segment-wise order breakup.
Exports also remained an important growth driver, registering 41% YoY growth in Q2 FY27 and 184% in H1 FY27. The company received export orders from Asia, Africa, the Middle East, Europe and the US.
Its services business grew 77% in Q2 FY27 and 36% in H1 FY27. Major orders came from utilities, industry and engineering, procurement and construction (EPC) companies for GIS augmentation and extension, substation extension and other projects.
Reflecting the strong order momentum, Hitachi Energy India secured another record-high order backlog of ₹33,335.4 crore as of September 2026, providing revenue visibility for several quarters.
Hitachi Energy share price trend: Stock rallies 9%, gains 45% in a year
Hitachi Energy India shares rose as much as 9.2% to an intraday high of ₹31,194.95 apiece on the BSE on Friday, November 13, following the earnings announcement.
The power stock has gained 94% from its 52-week low of ₹16,104, recorded in January 2026. However, it remains below its 52-week high of ₹38,800, touched in June 2026.
Over shorter periods, the stock has gained 3% in one month but declined 12% in three months and 2% in six months. On a one-year basis, it has added 45%. Over five years, Hitachi Energy India has delivered multibagger returns, surging more than 1,200%.
Should you buy Hitachi Energy shares?
Brokerages remain positive on Hitachi Energy India’s growth prospects, citing opportunities arising from India’s investments in power transmission, renewable energy and grid modernisation.
Jefferies maintained its ‘Buy’ rating on the stock with a target price of ₹45,790 per share, implying an upside of more than 47%. The brokerage expects India’s unprecedented investments in power transmission, renewable energy integration and grid modernisation to drive demand. The expansion of data centres is expected to provide another growth driver for the transmission and distribution sector.
Jefferies expects Hitachi Energy India’s earnings per share to grow at a compound annual growth rate (CAGR) of 54% over FY26-FY29.
Nomura also initiated coverage on Hitachi Energy India with a ‘Buy’ rating and a target price of ₹40,030 per share, indicating an upside of 28%.
The brokerage cited multiple structural growth themes, including India’s transmission investment supercycle, which it expects to reach around ₹10 lakh crore over FY26-FY36. This investment is expected to be driven by the expansion of non-fossil-fuel generation capacity, grid digitalisation and rising electricity demand from artificial intelligence and data centres.
Nomura believes Hitachi Energy India is well positioned to benefit from opportunities in grid automation services, transport infrastructure and data centres. Energy storage and high-voltage direct current (HVDC) integration could provide additional growth avenues. The company’s leadership in HVDC technology also positions it to benefit from upgrades to mature HVDC stations.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
