Hitachi Energy India (POWERINDIA) Q4 2020 earnings summary

Executive summary

• FY2020 resilience amid COVID-19: orders reached ₹3,217.7 crore, revenue from operations ₹3,420.44 crore and PAT ₹99.80 crore; profits were lower than the shorter 2019 comparative period.

• Customer engagement, remote commissioning and cost controls helped activity recover toward pre-pandemic levels by Q3; order backlog ended the year at ₹4,954.8 crore.

Financial highlights

• Revenue from operations was ₹3,420.44 crore versus ₹3,236.06 crore; total income was ₹3,438.94 crore versus ₹3,236.53 crore for Feb. 19–Dec. 31, 2019.

• PBT before exceptional items was ₹171.78 crore versus ₹261.44 crore; reported PBT ₹136.28 crore and PAT ₹99.80 crore versus ₹220.65 crore and ₹165.39 crore, respectively.

• Exceptional items totaled ₹35.50 crore; EPS was ₹23.55 versus ₹44.69, and total comprehensive income was ₹93.76 crore versus ₹165.89 crore.

• Orders received were ₹3,217.7 crore versus ₹2,641.9 crore; year-end backlog was ₹4,954.8 crore versus ₹5,100.7 crore.

Outlook and guidance

• 2021 priorities include renewable integration, rail electrification, grid automation, digitalization, data centers and e-mobility; growth depends on project execution and policy support.

• Planned investment targets GIS capacity, traction transformers, high-voltage products, R&D equipment and an expanded Bengaluru customer experience center.

• GIS expansion is positioned for a transmission and distribution market projected to grow at 5.5% CAGR over five years; price competition is expected to persist.