On January 31, Hitachi Energy India shares soared another 12% after hitting the 20% upper circuit yesterday. This sharp rise comes after the company posted impressive Q3 FY2024 financial results. The stock has surged 32% in just two trading sessions, reflecting strong investor sentiment.
Yesterday, Hitachi Energy reported a fivefold year-on-year (YoY) increase in profit after tax (PAT) to ₹137.4 crore for the quarter ended December 2024. The robust growth was supported by a record-high order backlog of ₹18,994.4 crore, significantly enhancing revenue visibility.
The company’s highest-ever quarterly order intake of ₹11,594.3 crore included a major HVDC order for renewable energy transmission from Gujarat to Maharashtra. Revenue for the quarter stood at ₹1,672.4 crore, up 31% YoY, driven by operational efficiencies and a favorable execution mix.
Hitachi Energy also reported operational EBITDA of ₹168.9 crore, with an EBITDA margin of 10.1%. Export orders have grown substantially, now accounting for over 40% of total orders, with key projects in Australia, Indonesia, Canada, Croatia, and Azerbaijan.
Stock Performance:
- Current price: ₹13,735.30 (up 11.87%)
- Previous close: ₹12,277.50
- Day range: ₹12,511.00 – ₹14,674.00
- 52-week range: ₹5,614.50 – ₹16,549.95
- Market cap: ₹592.17 billion
- Average volume: 96.51K
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