HITACHI ENERGY: POWERING INDIA’S ELECTRIC FUTURE ⚡

POWERINDIA The AI revolution, electric vehicles and renewable energy have one thing in common: they all need more electricity. But generating power is only half the story. Moving it reliably across the country requires advanced grid infrastructure — and Hitachi Energy India is positioned right at the centre of this opportunity. Hitachi Energy India manufactures and supplies power transformers, high-voltage equipment, switchgear, grid automation, power electronics and transmission solutions. And Q2 FY27 delivered a powerful performance. Q2 FY27 consolidated highlights: Revenue: ₹2,996.5 crore, up 63.5% YoY. PAT: ₹318.5 crore, up 20.5% YoY. Operational EBITDA: ₹494.4 crore, up 69.5% YoY. Operational EBITDA margin: 16.5%. New orders: ₹4,120.8 crore, up 85.9% YoY. But the biggest number is the order backlog. Record order backlog: ₹33,335.4 crore as of September 2026. That's significant business visibility for the coming quarters. Where is the growth coming from? Grid modernisation: India needs stronger transmission networks to support rising electricity demand. Renewable integration: Solar and wind require flexible, reliable grid infrastructure. Data centres: AI infrastructure is increasing demand for dependable power systems. Exports: International orders grew 41% YoY in Q2. Services: The service business expanded 77% YoY. The business flywheel: Electricity demand → Grid investment → Equipment orders → Manufacturing → Project execution → Revenue growth. However, investors should monitor execution, working capital, project delays, commodity costs and margins. Reported PAT growth was slower than revenue growth, and the company's operational EBITDA excludes certain adjustments, including depreciation. Valuation is another major consideration. Hitachi Energy is not simply selling electrical equipment. It is supplying critical infrastructure for India's electrification and energy transition.