Business

The company is increasingly positioning itself as an integrated “grid-to-rack” solutions provider, catering to the changing requirements of India’s electricity and infrastructure landscape. Its business is benefiting from rising investments in grid expansion and renewable power evacuation as well as increasing electricity requirements from large data centres.

Hitachi Energy India closed FY26 with a record order backlog of around ₹29,555 crore as of March 31, 2026, representing a 53.5 per cent year-on-year increase. During the financial year, the company received orders worth ₹18,456.5 crore while revenue from operations rose to ₹8,147.7 crore. The company also reported strong profitability during the year with profit after tax reaching ₹987.8 crore.

The momentum continued into the first quarter of FY27. The company secured orders worth ₹5,096.5 crore during the quarter and ended the period with an order backlog of ₹32,242.1 crore, its highest-ever level. On a comparable basis, excluding the impact of a large HVDC order in the previous year, order intake increased 26.1 per cent year-on-year and 39 per cent sequentially, according to the company’s earnings call.

Several sectors are contributing to this expansion. Renewable energy evacuation, battery energy storage systems, high-voltage equipment and grid solutions are emerging as important areas of demand. The company has also secured multiple orders linked to hyperscale data centres, reflecting the growing electricity and grid infrastructure requirements of India’s rapidly expanding digital economy.

Transmission infrastructure remains particularly important as India continues to integrate larger volumes of renewable electricity into the national grid. Hitachi Energy has been involved in major high-voltage direct current projects and sees further opportunities as the country expands transmission capacity to support the energy transition.

The company’s recent financial performance also underlines the scale of the current business momentum. In Q4 FY26, revenue increased 46.2 per cent year-on-year to ₹2,754.1 crore while profit after tax rose 79.7 per cent to ₹330.5 crore. Orders during the quarter stood at ₹2,422.5 crore, with data centres, rail and metro among the major contributing segments.

Beyond transmission, data centres are becoming an increasingly significant opportunity. As hyperscale facilities require reliable and high-capacity electricity infrastructure, demand is rising for transformers, switchgear, grid connection solutions and other power management technologies. Hitachi Energy has already secured several data centre related orders, strengthening its presence in this rapidly developing segment.

Renewable energy is another major growth area. The expansion of solar and wind capacity is creating a parallel requirement for evacuation infrastructure, substations, transformers and advanced grid technologies. Battery energy storage is also gaining importance as India works to manage the intermittent nature of renewable power and improve grid stability.

The company’s strong order visibility provides a significant base for future revenue generation. At the same time, execution remains an important factor because converting the large order pipeline into revenue and maintaining profitability will depend on timely project completion, supply chain management and efficient deployment of capacity.

Overall, Hitachi Energy India’s business is expanding beyond traditional transmission equipment as India’s energy transition creates demand across grids, renewables, storage and data centres. With a sizeable order backlog and multiple emerging areas of business, the company is increasingly operating across a broader spectrum of India’s rapidly changing power infrastructure landscape.