Hitachi Energy India (POWERINDIA) Q4 22/23 earnings summary

Executive summary

• Orders reached ₹6,817.2 Cr and year-end backlog was ₹7,070.9 Cr, supporting future revenue visibility; the three-year order target was ₹7,000 Cr.

• FY 2022-23 performance was affected by semiconductor shortages, commodity-price fluctuations and supply constraints, while new factories and major project wins expanded capacity for energy-transition demand.

Financial highlights

• Revenue from operations was ₹4,468.5 Cr and total income ₹4,483.7 Cr; the comparison period had 15 months, limiting direct comparability.

• EBITDA was ₹253.4 Cr; PBT after exceptional items ₹130.8 Cr, PAT ₹93.9 Cr and EPS ₹22.16, versus ₹203.4 Cr PAT and ₹47.99 EPS in the prior 15-month period.

• Revenue from products was ₹3,528.7 Cr, projects and services ₹711.5 Cr, services ₹94.3 Cr and other operating revenue ₹134.0 Cr.

• Excluding the prior period’s one-time ₹35.85 Cr reorganization reimbursement, exceptional items were nil in FY 2022-23; the prior period included the reimbursement.

Outlook and guidance

• Growth priorities include renewable integration, HVDC, data centers, rail, services and exports; export-led orders represented a quarter of orders, with a stated focus on extending this trend.

• The ₹7,070.9 Cr order backlog was expected to convert to revenue over 1–3 years, subject to delivery schedules, contract terms, customer site availability and changes in scope or prices.

• FY 2023-24 prospects were supported by domestic demand and capital investment, renewable-grid integration, data-center expansion, transportation electrification and manufacturing investment.