Hitachi Energy India (POWERINDIA) Q4 24/25 earnings summary

Executive summary

• Achieved record order growth of 228% year-over-year, with FY25 orders at INR 18,173.8 crore and a record order backlog of INR 19,245.9 crore as of March 31, 2025, reflecting robust demand in transmission, renewables, and exports.

• Revenue for FY25 rose 23% year-over-year to INR 6,475.4 crore, with Q4 revenue up 13.1% year-over-year to INR 1,921.9 crore.

• Profit after tax for FY25 surged 134% year-over-year to INR 384 crore; Q4 PAT up 61.8% year-over-year to INR 183.9 crore.

• Operational EBITDA margin improved, reaching 12.3% in Q4 and 10.1% for the full year, reflecting efficiency gains.

• Celebrated 75 years in India, completed first QIP raising INR 2,520.82 crore, and announced a INR 2,000 crore investment plan for capacity expansion.

Financial highlights

• Q4 FY25 orders grew 56% year-on-year to INR 2,190.9 crore; full-year orders at INR 18,173.8 crore (+228% YoY); order backlog at INR 19,245.9 crore.

• Q4 FY25 revenue was INR 1,921.9 crore (+13.1% YoY); full-year revenue at INR 6,475.4 crore (+23% YoY).

• Q4 FY25 PBT was INR 246.7 crore (+62.1% YoY); full-year PBT at INR 516.4 crore (+133% YoY).

• PAT for FY25 was INR 384 crore (+134% YoY); Q4 PAT at INR 183.9 crore (+61.8% YoY).

• Cash and cash equivalents at year-end stood at INR 3,806.6 crore, boosted by QIP proceeds.

Outlook and guidance

• Anticipates continued growth in FY26, leveraging a strong order backlog and expanding in emerging segments like data centers, BESS, and digital exports.

• Plans to maintain double-digit margins on a full-year basis, with some quarterly variability expected.

• Service business unit operational from April 2025 to drive lifecycle engagement and support grid infrastructure.

• CapEx to increase significantly, with INR 2,000 crore planned over the next 4-5 years for capacity expansion.