Hitachi Energy India Ltd recorded its all-time high order backlog of Rs.8,910 crore, as of September 30, 2024.
In a release, Hitachi Energy India said that this historically high order level provides revenue visibility for several upcoming quarters.
In the quarter ended September 30, 2024, orders totaled Rs.1,952 crore, up 11.7 per cent year-on-year. Renewables led the charge – from studies across utilities, power quality and substation projects. Expansion, upgrades and improved efficiency also resulted in orders from existing power plants. Key large orders coming from transformers and power quality segment spreading across industry, transportation, utilities and data centers, the release said.
The orders booked in Q2FY25 included a major mandate from India’s national transmission utility for 14×500 MVA, 765kV transformers. Exports accounted for around 22 per cent of total orders booked in Q2FY25 with a significant share from high-voltage products and grid integration orders from European and African markets.
The service portfolio witnessed substantial year-on-year growth of 65 per cent. Orders included comprehensive overhauling of the generator circuit breaker for one of the largest dam projects in the country, and extension opportunities from utility and industry.
In the first half (H1: April to September) of FY25, the order inflow, at Rs.4,388.7 crore was 51.6 per cent higher than in the same period of FY24.
Acceleration of energy transition
“The growing urgency to accelerate energy transition in India and across the globe has significantly boosted investment in the energy sector,” said N Venu, MD & CEO of Hitachi Energy India Ltd. “This surge has created favorable conditions for our overall business, leading to increased order intake, revenue, and profitability. Our focused approach toward strong execution of orders with better margins and operational efficiency contributed to favorable performance in Q2FY25.”
Investment in power transmission
An investor presentation by Hitachi Energy India said that India’s power transmission network, at the interstate and intrastate level, is forecast to grow to 6.48 lakh ckm by 2032 from the current 4.85 lakh ckm, entailing investment of Rs.9.15 trillion.
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Featured photograph shows a 400kV, 600MW substation Jaisalmer Rajasthan commissioned by Hitachi Energy India.