Hitachi Energy India’s shares hit the 20% upper circuit following impressive Q3 FY2024 results, with profit after tax (PAT) soaring nearly five times YoY to ₹137.4 crore. The stock surged ₹2,046.25 to reach ₹12,277.50, its upper limit, as of 9:48 AM.
The remarkable profit growth was driven by a record-high order backlog of ₹18,994.4 crore, strengthening future revenue visibility. The company’s highest-ever quarterly order intake of ₹11,594.3 crore included a significant High-Voltage Direct Current (HVDC) order for renewable energy transmission from Gujarat to Maharashtra.
Revenue for Q3 stood at ₹1,672.4 crore, marking a 31% year-on-year increase, supported by operational efficiencies and a favorable execution mix. The company’s improved collections strategy also bolstered its cash position, enabling Hitachi Energy India to achieve a debt-free status as of December 31, 2024.
The company reported an operational EBITDA of ₹168.9 crore, with an EBITDA margin of 10.1%. Exports have grown significantly, now accounting for over 40% of total orders, with key projects in Australia, Indonesia, Canada, Croatia, and Azerbaijan.
Hitachi Energy India shares opened at ₹11,444, climbed to a high of ₹12,277.50, and hit a low of ₹11,200 during early trade. The stock’s 52-week high stands at ₹16,549.95, while the 52-week low is ₹5,590.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
