Hitachi Energy India, BHEL shares to be in focus on Monday after power contract win – CNBC TV18
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“Letter of Intent is received from Rajasthan Part 1 Power Transmission Limited, by the consortium of Hitachi Energy India Limited and Bharat Heavy Electricals Ltd (BHEL) to design and execute the High Voltage Direct Current (HVDC) link to transmit renewable energy from Bhadla III (Rajasthan) and Fatehpur (Uttar Pradesh) and shall be subject to the Contract to be executed at a later date,” Hitachi’s India unit said in an announcement.
The HVDC link will involve the establishment of a 6000 megawatts (MW) of HVDC line commutated converters (LCC) terminal station at both Bhadla (Rajasthan) and Fatehpur (Uttar Pradesh), with associated AC substations. The project will be executed over a period of several years.
The contract is to be finalised at a later date, with the LOI issued by a domestic entity. The transaction is not expected to involve related party interests, the company clarified in the filing.
Hitachi Energy India Limited reported a solid all-round performance in third quarter of fiscal 2025, with a robust order backlog. During the quarter, profit after tax (PAT) rose nearly five times year-on-year (YoY) from a low base, at ₹137.4 crore. Revenue was up 31% YoY at ₹1672.4 crore in the October-December 2024 quarter, on the back of execution mix and improving operational efficiencies.
At the close of December 31st, 2024, the company recorded its highest-ever order backlog of ₹18,994.4 crore, providing revenue visibility for the coming quarters. Orders grew at a high triple-digit rate year-on-year, driven by a large High-Voltage Direct Current (HVDC) order.
Operational EBITDA for the third quarter stood at ₹168.9 crore, resulting in a double-digit margin of 10.1%.
Shares of Hitachi Energy India ended 0.2% higher at ₹12,312 on Friday, while BHEL’s stock finished the week’s trading at ₹202.41, down 1.2%.
