POWERINDIA

Hitachi Energy India Limited

Power-grid technology — transformers, HVDC, substations and grid integration

Industrials›Capital Goods›Electrical Equipment›Heavy Electrical Equipment

hitachienergy.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹28990.00
Market cap
1,29,223 Cr
Stock P/E
112.3
P/B
24.96
Dividend yield
0.0%
ROE (FY26)
19.1%
ROCE (FY26)
25.8%
Operating margin (FY26)
14.1%
OCF / EBITDA (FY26)
99.4%
OCF / EBITDA (3Y)
136.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Hitachi Energy India designs, manufactures and services power grid equipment, including transformers, HVDC transmission systems and grid automation, for utilities, industry and infrastructure customers in India and for export.

Company snapshot

4thBy market cap

Ranked among 38 companies in Heavy Electrical Equipment.

What we see

Positives
  • ✓136% of operating profit came in as cash over the last three years — profits are backed by real cash.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,228 Cr1,274 Cr1,695 Cr1,327 Cr1,554 Cr1,620 Cr1,884 Cr1,479 Cr1,833 Cr2,082 Cr2,754 Cr2,494 Cr
Operating expenses (approx.)1,163 Cr1,206 Cr1,513 Cr1,279 Cr1,444 Cr1,453 Cr1,646 Cr1,324 Cr1,534 Cr1,737 Cr2,338 Cr2,130 Cr
EBITDA65 Cr68 Cr182 Cr48 Cr110 Cr167 Cr238 Cr155 Cr299 Cr345 Cr416 Cr364 Cr
OPM %5.3%5.3%10.7%3.6%7.1%10.3%12.6%10.5%16.3%16.6%15.1%14.6%
Other income0.21 Cr2 Cr4 Cr0.09 Cr0.09 Cr52 Cr38 Cr51 Cr83 Cr86 Cr57 Cr58 Cr
Interest11 Cr14 Cr11 Cr11 Cr16 Cr12 Cr6 Cr4 Cr3 Cr3 Cr3 Cr3 Cr
Depreciation23 Cr23 Cr23 Cr22 Cr23 Cr23 Cr23 Cr25 Cr26 Cr27 Cr27 Cr28 Cr
Profit before tax32 Cr34 Cr152 Cr15 Cr71 Cr184 Cr247 Cr177 Cr353 Cr348 Cr443 Cr390 Cr
Tax %23.6%32.0%25.3%30.8%25.9%25.4%25.5%25.6%25.1%24.8%25.5%24.5%
Net profit25 Cr23 Cr114 Cr10 Cr52 Cr137 Cr184 Cr132 Cr264 Cr261 Cr330 Cr294 Cr
EPS (₹)₹5.84₹5.42₹26.82₹2.46₹12.34₹32.41₹43.15₹29.53₹59.31₹58.65₹74.14₹65.99

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricDec 2020Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3,420 Cr4,884 Cr4,469 Cr5,237 Cr6,385 Cr8,148 CrSign in free for the trailing twelve months
Operating expenses (approx.)3,170 Cr4,573 Cr4,233 Cr4,889 Cr5,789 Cr6,895 CrSign in free for the trailing twelve months
EBITDA251 Cr311 Cr236 Cr349 Cr596 Cr1,252 CrSign in free for the trailing twelve months
OPM %7.3%6.4%5.3%6.7%9.3%15.4%Sign in free for the trailing twelve months
Other income19 Cr67 Cr15 Cr9 Cr57 Cr240 CrSign in free for the trailing twelve months
Interest20 Cr41 Cr40 Cr47 Cr45 Cr13 CrSign in free for the trailing twelve months
Depreciation77 Cr95 Cr80 Cr90 Cr91 Cr104 CrSign in free for the trailing twelve months
Profit before tax136 Cr277 Cr131 Cr222 Cr516 Cr1,321 CrSign in free for the trailing twelve months
Tax %26.8%26.5%28.2%26.1%25.6%25.2%Sign in free for the trailing twelve months
Net profit100 Cr203 Cr94 Cr164 Cr384 Cr988 CrSign in free for the trailing twelve months
EPS (₹)₹23.55₹47.99₹22.16₹38.64₹90.36₹221.63Sign in free for the trailing twelve months
Dividend payout %0.0%4.1%13.5%8.8%4.4%2.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricDec 2020Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital8 Cr8 Cr8 Cr8 Cr9 Cr9 Cr
Reserves924 Cr1,124 Cr1,207 Cr1,351 Cr4,205 Cr5,167 Cr
Borrowings—125 Cr275 Cr150 Cr——
Other liabilities2,571 Cr2,266 Cr2,428 Cr3,198 Cr4,399 Cr6,868 Cr
Total liabilities3,503 Cr3,524 Cr3,919 Cr4,707 Cr8,613 Cr12,044 Cr
Fixed assets (net)621 Cr619 Cr680 Cr663 Cr684 Cr812 Cr
CWIP32 Cr118 Cr49 Cr63 Cr90 Cr192 Cr
Investments0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances6 Cr7 Cr2 Cr4 Cr7 Cr4 Cr
Inventories495 Cr707 Cr818 Cr888 Cr926 Cr1,485 Cr
Trade receivables1,585 Cr1,344 Cr1,528 Cr1,522 Cr2,110 Cr1,913 Cr
Cash & bank319 Cr86 Cr163 Cr128 Cr3,807 Cr4,689 Cr
Other assets445 Cr642 Cr678 Cr1,441 Cr991 Cr2,948 Cr
Total assets3,503 Cr3,524 Cr3,919 Cr4,707 Cr8,613 Cr12,044 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricDec 2020Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity610 Cr-127 Cr5 Cr252 Cr1,494 Cr1,245 Cr
Cash from investing-89 Cr-167 Cr-12 Cr-89 Cr-110 Cr-271 Cr
Cash from financing-390 Cr61 Cr84 Cr-199 Cr2,295 Cr-91 Cr
Net cash flow131 Cr-233 Cr77 Cr-35 Cr3,679 Cr883 Cr
Free cash flow (OCF − Capex)518 Cr-295 Cr-7 Cr163 Cr1,365 Cr735 Cr

Ratios

MetricDec 2020Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %16.8%25.3%11.5%17.8%13.3%25.8%
ROE %10.7%18.0%7.7%12.0%9.1%19.1%
Debtor days16910012410612085
Inventory days1059310910495117
Days payable334212203212210243
Cash conversion cycle-60-1931-26-40
OCF / EBITDA %243.0%-40.8%2.3%72.3%250.7%99.4%
OCF / EBITDA % (3 years)———14.6%148.3%136.1%
Debt / equity—0.110.230.11——
Current ratio1.091.151.161.161.761.55
Net debt / EBITDA-1.270.130.470.06-6.39-3.74