Hitachi Energy India Limited has announced its financial results for the first quarter, showcasing remarkable growth and a strong order book momentum. The company's performance highlights its pivotal role in India's evolving energy landscape and infrastructure development.

Unprecedented Order Growth

Hitachi Energy India reported an extraordinary surge in orders, reaching INR 11,339.20 crore for Q1. This represents a staggering 365.40% year-on-year growth, primarily driven by two significant wins:

1. The large project win of the Bhadla-Fatehpur High Voltage Direct Current (HVDC) link
2. A bulk order from POWERGRID for 30 units of 765kV transformers

The order backlog stood at a record INR 29,125.30 crore, providing strong revenue visibility for upcoming quarters.

Revenue and Profitability

Hitachi Energy India delivered a robust financial performance:

The company achieved these results through effective order execution, sustained operational excellence, a favorable product mix, and increased export momentum.

Segment Performance

• Services: Clocked a 91.00% YoY order growth
• Exports: Maintained consistency, contributing 24.70% to orders (excluding HVDC orders) in Q1
• Transmission: Led the order intake
• Rail & Metro and Data Center: Followed transmission in order contribution

Strategic Outlook

The company's performance aligns with India's broader economic and energy sector trends. Hitachi Energy India's strong Q1 results and record order backlog position it well to capitalize on the ongoing developments in India's power sector, particularly in grid infrastructure enhancement to meet the country's growing power consumption needs.

Hitachi Energy India has clinched a significant order to supply 765 kV transformers to Power Grid Corporation of India Limited (PGCIL), marking a crucial step in the expansion of India's national power grid.

Order Details

Hitachi Energy India has secured an order from Power Grid Corporation of India for 30 units of 765 kV, 500 MVA single-phase transformers. These high-capacity transformers are essential components in the transmission of electricity over long distances, playing a vital role in strengthening and expanding the country's power infrastructure.

Manufacturing and 'Make in India' Initiative

The equipment will be manufactured at Hitachi Energy India's Vadodara facility, supporting the 'Make in India' initiative. This aligns with the country's push for domestic manufacturing and self-reliance in critical infrastructure sectors.

Impact on National Power Grid

This order is set to contribute substantially to the enhancement of India's national power grid. The 765 kV transformers are designed to handle ultra-high voltage transmission, which is critical for:

• Reducing transmission losses
• Increasing power transfer capacity
• Improving grid stability and reliability

Once operational, these transformers will help transmit electricity to approximately 30 million households, significantly boosting the country's power distribution capabilities.

Strategic Importance

The collaboration between Hitachi Energy India and Power Grid Corporation of India Limited underscores the ongoing efforts to modernize and expand India's power transmission network. This project aligns with the country's goals to:

• Meet growing energy demands
• Improve power quality and reliability
• Support the integration of renewable energy sources into the grid

As India continues to focus on enhancing its power infrastructure, such high-capacity equipment will play a crucial role in ensuring efficient and reliable power distribution across the nation.

While specific financial details of the order were not disclosed, this development is expected to positively impact Hitachi Energy India's order book and reinforce its position in the power sector.