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Hitachi Energy India

POWERINDIA NSE
₹29,100.00 +1,820.00 (+6.67%)
P/E
112.75
View as Markdown
MCP
Close 4 Nov 2026 ₹29,100.00 +8,893.00 +44.0% 1Y
Start ₹20,207.00

Key Fundamentals

LargecapElectrical EquipmentCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
29.40%
Debt to Equity
0.02
EPS (TTM)
₹258.09
Book Value
₹1,161.25
Market Cap
—
P/E (TTM)
112.75
P/B
25.06
ROE
21.90%
Dividend Yield
0.03%
EBITDA
₹1,492 Cr
52W High
₹38,785.00
52W Low
₹16,111.00
Day Range
₹26,840.00 – ₹29,100.00
Volume
1,80,043

Peer Comparison

Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment

Hitachi Energy peer comparison
Bharat Heavy Electricals
₹423.8551.25₹1,46,351 Cr5.520.35%6.23%9.14%₹37,782 Cr₹2,878 Cr
ABB
₹6,750.0047.87₹1,40,908 Cr15.321.36%22.40%29.90%₹13,477 Cr₹2,988 Cr
CG Power & Industrial Solutions
₹841.4596.28₹1,27,312 Cr15.170.16%20.50%26.70%₹13,699 Cr₹1,364 Cr
Hitachi Energy (this company)
₹29,100.00112.75₹1,24,045 Cr25.060.03%21.90%29.40%₹9,162 Cr₹1,149 Cr
Siemens
₹3,509.00—₹1,22,035 Cr9.030.53%19.20%21.40%₹18,062 Cr₹3,276 Cr
GE Vernova T&D
₹4,265.0083.66₹1,04,523 Cr33.150.25%57.40%77.40%₹6,712 Cr₹1,305 Cr
Siemens Energy
₹2,963.0070.90₹1,01,562 Cr21.930.14%50.50%67.80%₹9,436 Cr₹1,489 Cr
Median 7 companies₹3,509.0077.28₹1,24,045 Cr15.320.25%21.90%29.40%₹13,477 Cr₹1,489 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

46 Average

Data confidence 100/100

Category scores

Quality
60
Good
Returns, margins, earnings quality 22% weight
Valuation
17
Poor
Cheap vs sector & own history 24% weight
Growth
95
Strong
Sales & profit trajectory 9% weight
Financial Health
75
Strong
Solvency, leverage, coverage 9% weight
Momentum
19
Poor
Trend strength, vol-adjusted 12% weight
Ownership
43
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 53.7% CAGR over last 5 years

Weaknesses

2
  • Stock is trading at 24.3 times its book value
  • Promoter holding has decreased over last 3 years: -3.69%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish748
OscillatorsBullish243
Moving AveragesNeutral505

Key readings

RSI (14)
49.75
Neutral
MACD (12,26,9)
−838.10
Bullish
SMA (50)
30,609.00
Bearish
SMA (200)
29,535.25
Bearish

As of

Analyst Rating

Based on 20 analysts
BUY55%

11 of 20 analysts rate Buy, 6 Hold, 3 Sell.

As of

BUY
11
55%
HOLD
6
30%
SELL
3
15%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5YIrregular period
3Y+22.17%
1Y+27.61%
TTM+40.17%

Net profit

Net profit growth by window
5YIrregular period
3Y+119.05%
1Y+157.29%
TTM+127.52%

Operating cash flow

Operating cash flow growth by window
5YIrregular period
3Y+529.12%
1Y−16.67%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5YIrregular period
3Y+9.97 pp
1Y+6.08 pp
TTM+5.29 pp

Revenue by year

Revenue by year, ₹ crore
Dec 2019₹3,236 Cr
Dec 2020₹3,420 Cr
Dec 2021₹3,771 Cr
Mar 2023₹4,469 Cr
Mar 2024₹5,237 Cr
Mar 2025₹6,385 Cr
Mar 2026₹8,148 Cr

Net profit by year

Net profit by year, ₹ crore
Dec 2019₹165 Cr
Dec 2020₹100 Cr
Dec 2021₹152 Cr
Mar 2023₹94.00 Cr
Mar 2024₹164 Cr
Mar 2025₹384 Cr
Mar 2026₹988 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹454 Cr +7.7% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk high

Hitachi Energy India Ltd trades at ₹29,100 as of 2026-11-04, commanding a market cap of ₹1,24,045 Cr with a P/E (TTM) of 112.75x and a P/B of 25.06x. The company has delivered compounded profit growth of 122% over 3 years and 40% TTM sales growth, while operating with near-zero debt (debt-to-equity of 0.02), but valuations remain elevated relative to earnings and book value.

Bull Case 8
  • Exceptional profit growth: compounded profit CAGR of 122% over 3 years and 54% over 5 years, with TTM profit growth accelerating to 136%.
  • Virtually debt-free balance sheet with a debt-to-equity ratio of just 0.02, providing significant financial flexibility and resilience through business cycles.
  • Strong revenue momentum with TTM sales growth of 40%, well above the 3-year compounded sales growth of 22%, indicating accelerating top-line performance.
  • Healthy return ratios with ROE of 19.09% and ROCE of 24.92% as of 2026-11-04, reflecting efficient capital deployment.
  • ROE has expanded from a 5-year average of 17% to 22% in the last year, suggesting improving profitability and capital efficiency.
  • Stock price CAGR of 64% over 5 years and 85% over 3 years demonstrates sustained investor confidence and long-term wealth creation.
  • The company is expected to deliver a good quarter, suggesting near-term earnings visibility remains intact.
  • 5-year compounded sales growth of 19% indicates a durable demand trend in the power and energy infrastructure space, not just a one-off spike.
Bear Case 6
  • Price-to-book ratio of 25.06x is exceptionally high, meaning investors are paying a steep premium over the company's net asset value.
  • The stock trades 24.9% below its 52-week high of ₹38,785, indicating significant recent price erosion and potential overhead supply from investors looking to exit at higher levels.
  • Dividend yield of just 0.03% offers negligible income return, making the investment thesis entirely dependent on capital appreciation.
  • Promoter holding has declined by 3.69% over the last 3 years, which may signal reduced promoter confidence or stake dilution.
  • At a market cap of ₹1,24,045 Cr with an EPS (TTM) of ₹258.09, sustaining the current valuation multiple requires continued triple-digit profit growth, which becomes harder to maintain as the base effect normalises.
  • The stock has rallied 80.6% from its 52-week low of ₹16,111 to ₹29,100, and such sharp run-ups historically increase the risk of mean reversion.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Only one recent development is available: shareholders overwhelmingly approved related party transactions with the parent group, signalling strong promoter-aligned governance but no new operational catalyst. With no negative or positive triggers in the current news cycle, the near-term direction will likely depend on upcoming quarterly results and order inflow updates.

Neutral 1
  • Related party deals approved Oct 12

    Hitachi Energy India shareholders approved material related party transactions with global Hitachi entities via postal ballot, with over 99% votes in favour.

Quarterly Results

₹ Cr
POWERINDIA quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,040
1,228
1,274
1,695
1,327
1,554
1,620
1,884
1,479
1,833
2,082
2,754
2,494
Expenses
1,006
1,163
1,206
1,513
1,279
1,444
1,453
1,646
1,324
1,534
1,737
2,338
2,130
Operating Profit
34
65
68
182
48
110
167
238
155
299
345
416
364
OPM %
3.2%
5%
5%
11%
3.6%
7%
10%
13%
10%
16%
17%
15%
15%
Other Income
3
0
2
4
0
0
52
38
51
83
32
57
58
Interest
11
11
14
11
11
16
12
6
4
3
3
3
3
Depreciation
22
22
23
23
22
23
23
23
25
26
27
27
28
PBT
3
32
34
152
15
71
184
247
177
353
348
443
390
Tax %
29%
24%
32%
25%
31%
26%
25%
25%
26%
25%
25%
25%
24%
Net Profit
2
25
23
114
10
52
137
184
132
264
261
330
294
EPS (₹)
0.57
5.84
5.42
26.82
2.46
12.34
32.41
41.26
29.52
59.31
58.65
74.14
65.99

Profit & Loss

₹ Cr
POWERINDIA profit and loss, annual, ₹ crore
Particulars Dec 2019Dec 2020Dec 2021Mar 2022 15mMar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,236
3,420
3,771
4,884
4,469
5,237
6,385
8,148
9,162
Expenses
2,899
3,152
3,526
4,560
4,218
4,878
5,780
6,879
7,738
Operating Profit
337
269
244
323
250
359
605
1,268
1,424
OPM %
10%
8%
6%
7%
6%
7%
9%
16%
16%
Other Income
−41
−18
74
101
15
9
57
185
229
Interest
28
38
32
53
54
57
54
28
12
Depreciation
48
77
81
95
80
90
91
104
108
PBT
221
136
206
277
131
222
516
1,321
1,534
Tax %
25%
27%
26%
26%
28%
26%
26%
25%
—
Net Profit
165
100
152
203
94
164
384
988
1,150
EPS (₹)
39.02
23.55
35.8
47.99
22.16
38.64
86.15
222
258
Div. Payout %
0%
8%
0%
6%
15%
10%
7%
4%
—

Balance Sheet

₹ Cr
POWERINDIA balance sheet, annual, ₹ crore
Particulars Dec 2019Dec 2020Dec 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
8
8
—
8
8
8
9
9
Reserves
831
924
—
1,124
1,207
1,351
4,205
5,167
Borrowings
348
39
—
190
334
214
88
86
Other Liabilities
2,253
2,532
—
2,201
2,369
3,134
4,311
6,782
Total Liabilities
3,441
3,503
—
3,524
3,919
4,707
8,613
12,044
Fixed Assets
579
656
—
653
713
695
717
845
CWIP
57
32
—
118
49
63
90
192
Investments
0
0
—
0
0
0
0
0
Other Assets
2,804
2,815
—
2,753
3,157
3,950
7,807
11,006
Total Assets
3,441
3,503
—
3,524
3,919
4,707
8,613
12,044

Cash Flow

₹ Cr
POWERINDIA cash flow, annual, ₹ crore
Particulars Dec 2019Dec 2020Dec 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−73
610
−127
−127
5
252
1,494
1,245
Investing
−73
−89
−167
−167
−12
−89
−110
−271
Financing
333
−390
61
61
84
−199
2,295
−91
Net Cash Flow
188
131
−233
−233
77
−35
3,679
883
Free Cash Flow
−146
519
−294
−294
−7
163
1,366
735
CFO/EBITDA
0
244
−14
−10
29
84
273
138

Ratios

POWERINDIA financial ratios, annual
Particulars Dec 2019Dec 2020Dec 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
201
168
—
106
125
106
90
86
Inventory Days
102
103
—
93
110
101
91
119
Days Payable
286
327
—
213
204
205
202
246
Cash Conversion Cycle
18
−57
—
−14
31
2
−20
−42
Working Capital Days
0
−10
—
19
21
29
−31
−46
ROCE %
—
19%
—
26%
13%
18%
19%
29%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Hitachi Energy insights

61 extracted metrics across FY17–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 71.31%
  • FIIs 11.96%
  • Public 8.35%
  • DIIs 6.54%
  • Others 1.84%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Hitachi Energy India

What does Hitachi Energy India Ltd do?
Hitachi Energy India Ltd (formerly known as ABB Power Products and Systems India Ltd.) was created in 2019 as a Joint Venture between Hitachi and ABB's Power Grids.
Where is Hitachi Energy India Ltd (POWERINDIA) listed?
Hitachi Energy India Ltd trades as POWERINDIA on the NSE and under code 543187 on the BSE.
Which sector does Hitachi Energy India Ltd belong to?
Hitachi Energy India Ltd is classified under the Capital Goods sector, in the Electrical Equipment industry.
What is the PE ratio of Hitachi Energy India Ltd?
Hitachi Energy India Ltd trades at a PE ratio of 112.75 as of 4 Nov 2026, on earnings per share of ₹258.09, against a book value of ₹1,161.25 per share.
What is the 52-week high and low of Hitachi Energy India Ltd?
Over the last 52 weeks Hitachi Energy India Ltd has traded between ₹16,111 and ₹38,785 as of 4 Nov 2026.
Does Hitachi Energy India Ltd pay dividends?
Hitachi Energy India Ltd has a dividend yield of 0.03%.
What is the Return on Equity (ROE) of Hitachi Energy India Ltd?
Hitachi Energy India Ltd reported a return on equity of 21.90%. Its debt-to-equity ratio is 0.02.

Company Information

Hitachi Energy India Ltd (formerly known as ABB Power Products and Systems India Ltd.) was created in 2019 as a Joint Venture between Hitachi and ABB's Power Grids. The company serves utility and industry customers, with a complete range of engineering, products, solutions, and services in areas of Power technology.

Website new.abb.com/grid/appsil
CEO Mr. Nuguri Venu
Employees 2,481
Listed 30 Mar 2020
Face Value ₹2

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