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Informist, Tuesday, May 26, 2026

 

--Hitachi Energy: Ground-breaking at new Gujarat transformer unit on Jun 12

--Hitachi Energy: Hope to start INR 20-bln Gujarat transformer unit in 2028

--Hitachi Energy: Order pipeline very strong in renewables, data centres

--CONTEXT: Comments by Hitachi Energy's mgmt in post-earnings analyst call

--Hitachi Energy: Cumulative capex commitment stands at INR 40 billion

 

By Sunil Raghu and Gunjan Rajput

 

AHMEDABAD/NEW DELHI – Hitachi Energy India Ltd. hopes to commission the newly-announced INR 20-billion transformer manufacturing facility at Karjan in Vadodara, Gujarat, by the end of 2028, the company's management told analysts in a post-earnings conference call Tuesday.

 

The company announced plans to set up a power transformer unit in Gujarat at a cost of INR 20 billion on Monday, taking the cumulative capital expenditure planned to INR 40 billion. The company had announced capex of INR 20 billion on Oct. 7, 2024. "...many of those projects are, as we speak, they are on the ground. So, they are taking anywhere between three to four years to complete that. But this additional 2000 crores (INR 20 billion) which we announced, and we are doing the groundbreaking ceremony on 12th of June," a company official said in the analyst call. "We are going to manufacture the transformer out of the new facility by the end of the last quarter of the calendar year 2028." 

 

Talking about order book, the management said the company won orders to the tune of INR 24.22 billion in the March quarter, up nearly 11% on year, and INR 185 billion for 2025-26 (Apr-Mar), up nearly 2%. As of Mar. 31, the company's total order backlog stood at nearly INR 296 billion. "Overall, if you talk about the entire pipeline, the ex-HVDC (high voltage, direct current), I think another pipeline for the transformer for various segments is also very, very strong. So if you add all of those things, I think pipeline compared to the year ago, compared to the quarter ago, is very good," the official said.

 

On orders from the data centres business, the official seemed bullish. He said India currently had data centres of 2 giga watt capacity, which could be scaled to six to eight times. The official said every data centre needs to spend nearly 15% of the cost on buying Hitachi power equipment, opening up a big market going ahead.

 

The power equipment maker's standalone net profit for Jan-Mar rose 80% on year to INR 3.30 billion, and revenue rose 46% on year to INR 27.54 billion. For the financial year ended March, the company posted revenue of INR 81.48 billion, up 28% on year. The net profit for the year surged 157% on year to INR 9.88 billion.

 

At 1351 IST, the company's shares traded 0.2% lower at INR 35,570 on the National Stock Exchange. The company announced its March quarter results after market hours on Monday.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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