Hitachi Energy India (POWERINDIA) Q3 25/26 earnings summary

Executive summary

• Achieved strong revenue and profit growth in Q3 FY26, with significant margin expansion and robust demand across utilities, renewables, industry, and data centers.

• Order backlog reached a record INR 29,872.2 crore, ensuring strong revenue visibility for future quarters.

• Focused on operational efficiency, ESG targets, and expanding export and service businesses, including new areas like data centers and BESS.

• Orders declined year-over-year due to a prior large HVDC order, but underlying business momentum remains robust.

• Celebrated 25 years of transformer innovation and 5 years of partnership with NIT Warangal for sustainable energy solutions.

Financial highlights

• Q3 FY26 revenue rose 29.6% year-on-year to INR 2,168.0 crore; PAT increased 90.3% to INR 261.4 crore; operational EBITDA margin at 15.6%.

• Orders for Q3 FY26 were INR 2,477.6 crore, down year-over-year due to prior HVDC order, but up sequentially.

• PBT before exceptional items was INR 402 crore (18.5% margin), up 118% year-on-year; exceptional item of INR 54.24 crore due to new labor codes.

• EPS for Q3 FY26: Basic and diluted at INR 29.31.

• Operating cash flow for 9M FY26 at INR 1,349.7 crore.

Outlook and guidance

• Multi-year growth expected in transmission, electrification, and data centers, with strong domestic and export demand.

• Order backlog and ongoing capacity expansions support sustained revenue growth and margin strength.

• Priorities include maintaining leadership in core segments, expanding into new markets, and operational excellence.

• EU-India and US-India trade agreements expected to boost export competitiveness and supply chain integration.