28 Mar, EOD - Indian

SENSEX 77414.92 (-0.25)

Nifty 50 23519.35 (-0.31)

Nifty Bank 51564.85 (-0.02)

Nifty IT 36886.15 (-1.76)

Nifty Midcap 100 51672.25 (-0.32)

Nifty Next 50 63043.2 (-0.63)

Nifty Pharma 21137.45 (-0.65)

Nifty Smallcap 100 16095.7 (-0.15)

28 Mar, EOD - Global

NIKKEI 225 35617.56 (-4.05)

HANG SENG 23119.58 (-1.31)

S&P 5571.58 (-0.54)


Hot Pursuit News

You are Here : Home > News > Hot Pursuit News >

(26 Mar 2025, 13:36)

Crisil Ratings reaffirms Hitachi Energy's 'AAA' rating with 'Stable' outlook

Hitachi Energy India said that Crisil Ratings has reaffirmed its 'Crisil AAA/Stable’ rating on the long-term bank facilities of the company.


Crisil Ratings said that it has taken note of the Rs 2,520.82 crore equity raised by Hitachi Energy India through qualified institutional placement (QIP), which concluded on 13 March 2025.

The raised funds will be utilised mainly towards capital expenditure (capex) of Rs 2,000 crore announced by the company in October 2024 for expanding its capacity and product portfolio across the large and small power transformers, dry and traction, high-voltage direct current (HVDC) and components and network control solutions offering; this is expected to be taken over the next 4-5 years.

Of the QIP proceeds, the funds utilized for capex would be Rs 1513.28 crore, Rs 350 crore will be utilised towards working capital requirement and the remaining for general corporate purposes.

The funds raised will further strengthen the already robust financial risk profile of the company with high networth, low debt levels and strong debt protection metrics.

The rating continues to reflect healthy business risk profile of the company, driven by its strong market position in the power grid segment, diversity in product portfolio and geographical reach and strong clientele.

The rating additionally factors in strong support from the ultimate parent Hitachi Ltd that holds nearly 100% stake in Hitachi Energy (effective December 2022), which in turn is the holding company of Hitachi Energy India Limited.

Operating income stood at Rs 4,501 crore for the nine months ended December 31, 2024 (on-year growth of 27%) with operating margin at 7.95% (compared to 4.7% in the similar period last fiscal). The margin improved on account of healthy order inflow, better operating leverage and higher input price pass-through abilities. Crisil Ratings expects the margin to further increase in the near to medium term, basis better operating efficiency.

The company has also maintained strong business risk profile, driven by its established market position and highest-ever order book of Rs 18,994 crore as on 31 December 2024 (September 2024: Rs 8,539 crore).

Liquidity is strong, marked by unencumbered cash equivalent of approximately Rs 900 crore as on 31 December 2024, and access to fund-based bank limit of Rs 952 crore that remains unutilized as on 31 December 2024.

These strengths are partially offset by susceptibility to capital investment cycles and project implementation risk arising from structural issues in the power sector and intense competition in the capital goods industry.

Hitachi Energy India Limited provides product, system, software, and service solutions across the power value chain. The portfolio includes an extensive range of high-voltage products, transformers, grid automation products and power quality products and systems.

The scrip rose 0.54% to currently trade at Rs 12186.40 on the BSE.


More News

Capital Market Publishers India Pvt. Ltd

401, Swastik Chambers, Sion Trombay Road, Chembur, Mumbai - 400 071, India.

Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date.

Over the years the scope of the databases has enlarged to cover economy, sectors, mutual funds, commodities and news. Many innovative online and offline applications of these databases have been developed to meet various common as well as customized requirements.

While all the leading institutional investors use Capitaline databases, Capital Market magazine gives access to the databases to individual investors through Corporate Scoreboard. Besides stock market and company-related articles, the magazine’s independent and insightful coverage includes mutual funds, taxation, commodities and personal finance.

The power of the database is harnessed by our fired-up reporters to generate interesting ideas. The reader-friendly presentation of the idea, supplemented by relevant data and information, can be accessed online through Capita Telefolio and Telefolio Gold. These ideas are used by individual investors as well as institutional investors to do further research and stay ahead.

Copyright @ Capital Market Publishers India Pvt.Ltd

Designed, Developed and maintained by CMOTS Infotech (ISO 9001:2015 Certified)

Site best viewed in Internet Explorer Edge ,   Google Chrome 115.0.5790.111 + ,   Mozilla Firefox 115.0.3 + ,   Opera 30.0+, Safari 16.4.1 +