Hitachi Energy India received orders worth Rs.1,278.50 crore during the quarter ending September 30, 2022, up 31 per cent from the comparable level last year.
A statement from Hitachi Energy India observed that the company continued to gain traction from customers in the focus markets such as renewables, railways, data centers and substations for industries.
Some of the notable orders during the quarter (Q1 of FY23) included transformers for NTPC Renewable Energy Ltd, and transformer and SCADA solutions for railways. The company also booked several orders for power quality and high voltage product offerings.
As of September 30, 2022, the order backlog stood at Rs.7,009 crore, providing revenue visibility for the coming quarters.
Healthy Exports
Exports accounted for nearly 25 per cent of the order inflow in Q1 of FY23, with mandates received from established export markets of Nepal, Bhutan, Middle East, and the Americas. Understanding the market requirements, Hitachi Energy has been proactively augmenting its manufacturing muscle to meet changing demand, the statement said.
Service orders
Service orders remained strong from a healthy mix of base orders for retrofit and spares from utilities, including some breakthrough orders for GIS bay extension and Substation Automation Systems (SAS). As a partner across customers’ plan-build-operate lifecycle, Hitachi Energy in India continued to provide technical expertise services such as renewable studies for utilities and engineering advisory for mining behemoths.
Towards a carbon-neutral future
India holds significant potential in energy transition with grid modernization, smart grids, and digitalization. Hitachi Energy takes pride in the real impact it makes by deploying technologies and solutions that decarbonize the energy system.
In Q2 of FY23, carbon emissions associated with the India operations of Hitachi Energy declined by around 40 per cent, year on year.
In the second quarter of FY23, it may be recalled that Hitachi Energy inaugurated the greenfield power quality factory in Bangalore and initiated manufacturing of next generation switchgear operating mechanisms, catering to India and global markets.
Hitachi Energy believes there is significant potential to support customers to scale up and accelerate digitalization by leveraging its capabilities in power systems and advanced digital technologies.
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