Revenue from operations jumped 27.16% to Rs 1,620.27 crore in Q3 FY25 as compared with Rs 1,274.20 in Q3 FY24.
Revenue growth was driven by concerted focus on collections, which, along with advances from HVDC project, has led to solid cash position.
Profit before tax (PBT) soared to Rs 184.06 crore during the quarter from Rs 33.78 crore posted in Q3 FY24.
Operating EBITDA surged 108.5% to Rs 168.9 crore in Q3 FY25 compared with Rs 81 crore in Q3 FY24. Operating EBITDA margin was 10.1% in Q3 FY25 against 6.3% in Q3 FY24.
The company reported its highest-ever quarterly order of INR 11,594.3 crore in the period ending 31 December 2024. The surge can be primarily attributed to a large high-voltage direct current (HVDC) order to transmit renewable energy from Khavda in Gujarat to Nagpur, Maharashtra.
In addition, the transmission segment (not including HVDC order) led the order book momentum, with power quality and substation projects. Other major contributing segments were transportation followed by industries and data centers.
Excluding the one-time large HVDC order, share of exports grew to over 40% of total orders in Q3FY25, with power quality, substation & renewable orders from Australia, Indonesia, Canada, Croatia, Azerbaijan, etc. Similarly, service segment constituted 11% of total orders (excl HVDC).
As of December 31, 2024, the company achieved its highest-ever order backlog of Rs 18,994.4 crore, ensuring strong revenue visibility for the upcoming quarters.
N Venu, MD & CEO, Hitachi Energy India, said, ““As nations and organizations steer towards their net-zero targets, energy investments are gaining momentum across verticals – utilities, industries, transport & infra, Over the years, we have pre-empted this growth phenomenon and have been strengthening our manufacturing capabilities and the quarter’s positive trending performance reflects returns on localization, expansion and talent development.”
Hitachi Energy India provides product, system, software, and service solutions across the entire power value chain. The portfolio includes an extensive range of high-voltage products, transformers, grid automation products, and power quality products and systems.