Hitachi Energy India Limited has reported a robust performance for the third quarter of FY26, driven by sustained growth momentum, strong execution capabilities, and a solid order backlog. The company recorded a year-on-year (YoY) revenue growth of approximately 29.6% and a sharp 90.3% YoY increase in profit after tax (PAT), underlining its operational strength during the quarter.
The company’s operational performance remained strong, with an operational EBITDA margin at a double-digit level of 15.6%, reflecting disciplined execution and strategic agility. Hitachi Energy India also achieved its highest-ever order backlog of INR 29,872.2 crore as of December 31, 2025, providing healthy revenue visibility for the coming quarters.
During the quarter ended December 31, 2025, the company secured orders worth INR 2,477.6 crore. Orders grew by 73.7% YoY after excluding a large order received in the corresponding quarter of FY25. Demand was led by transformers (power, traction, and dry), reactors, gas-insulated switchgear (GIS), and air-insulated switchgear (AIS). From an industry perspective, data centers and renewable energy projects emerged as major contributors to the order book.
Exports accounted for 29.8% of total orders booked in Q3FY26, with export orders received from utilities and data centers in Southeast Asia and Southern Africa. The service segment contributed 4.3% to the quarterly order book, supported by orders from utilities and industries, including Substation Automation System (SAS) extension packages, SCADA upgrades, and the largest SCADA integration order for a leading renewable energy company in India.
Revenue for Q3FY26 stood at INR 2,168.0 crore, marking a YoY growth of 29.6%. This growth was supported by strong demand in India and other key markets, an expanding market share, and effective execution of strategic initiatives.
Profitability improved significantly during the quarter. On a YoY basis, profit before tax (PBT) before exceptional items increased by 118.4% and grew 13.9% sequentially to INR 402.0 crore. PBT after exceptional items rose by 88.9% YoY to INR 347.8 crore, while PAT increased by 90.3% YoY to INR 261.4 crore. On a quarter-on-quarter basis, PBT after exceptional items and PAT declined marginally by 1.5% and 1.1%, respectively, due to the impact following the implementation of the new labor code. Operational EBITDA for the quarter stood at INR 338.4 crore.
Commenting on the performance, N Venu, Managing Director & CEO, Hitachi Energy India Limited, said that the results reflect the accelerating pace of electrification in India and globally, with electricity demand projected to rise sharply. He highlighted the growing power-intensive demands of AI, the need for strategic infrastructure investments, and the company’s role in enabling AI-ready data centers and a sustainable energy future. He also pointed to India’s electrification drive, grid reliability requirements, and ambitious targets such as achieving 2,000 kWh per capita electricity consumption by 2030, which position the company for sustained leadership.
Looking ahead, the recent EU–India Free Trade Agreement is expected to strengthen clean energy collaboration, particularly in renewables and green hydrogen. Analysts believe this could enhance technology exchange, investment flows, and export opportunities for Indian energy companies, while supporting long-term capital inflows for infrastructure and innovation. As India advances toward its broader energy goals, the focus will increasingly be on managing electricity systems under more complex conditions, requiring coordinated efforts, strong local manufacturing, and advanced technology capabilities.
Hitachi Energy is a global technology leader in electrification, focused on powering a sustainable energy future through innovative and digital power grid technologies. With operations in over 140 countries, the company serves utilities, industries, transportation, data centers, and infrastructure sectors. In India, Hitachi Energy operates as Hitachi Energy India Limited and is listed on the NSE and BSE under the symbol POWERINDIA
