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Makes power transmission and grid equipment (transformers, switchgear) in India, majority-owned by Hitachi Energy (formerly ABB's power grid unit).
Makes power transmission and grid equipment (transformers, switchgear) in India, majority-owned by Hitachi Energy (formerly ABB's power grid unit).
In one line: India's Hitachi/ABB grid-equipment arm.
Moat: narrow (process know-how, customer qualification, brand). Technology and manufacturing expertise inherited from ABB/Hitachi Energy serving India's grid-upgrade demand.
Headquarters: Chennai, India · Founded: 1960 · Employees: 3,578
Size Hitachi Energy India (POWERINDIA.NS) is an India Industrials company (Electronic Equipment/Instruments) with a market value of $13.1B, the 81st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹27,800 on 6 Nov 2026.
Performance Over six months the shares fell 20.3%, against -12.5% for the median peer and 0.0% for the India market (cap-weighted) — 4th lowest of 12 in its peer set.
Growth Revenue grew 40.2% over the last twelve months (peer median +5.7%); the operating margin is 15.4% (peer median 15.1%).
Valuation It trades at 79.8× forward earnings against a peer median of 19.2× (2nd most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 50% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +31 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.4 points above its cost of capital (13.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹91.6B | ₹81.5B | ₹63.8B | ₹52.4B | ₹44.7B |
| Revenue growth | — | +28% | +22% | +17% | — |
| Gross profit | ₹28.6B | ₹22.7B | ₹15.4B | ₹10.1B | ₹8.96B |
| EBITDA | ₹15.2B | ₹13.1B | ₹6.10B | ₹3.63B | ₹2.82B |
| Net income | ₹11.5B | ₹9.88B | ₹3.84B | ₹1.64B | ₹939M |
| Free cash flow | n/a | ₹9.67B | ₹13.4B | ₹1.22B | -₹422M |
| Capital expenditure | n/a | ₹5.10B | ₹1.29B | ₹894M | ₹120M |
| Total debt | n/a | ₹861M | ₹884M | ₹2.14B | ₹3.34B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hitachi Energy India POWERINDIA.NS | $13.1B | -20% | +40% | 15% | 79.8× | 50.3% |
| APAR Industries APARINDS.NS | $6.25B | +10% | +23% | 9% | 34.6× | n/a |
| GE Vernova T&D India GVT&D.NS | $10.9B | -16% | +41% | 26% | 62.7× | 45.7% |
| Siemens Energy India ENRIN.NS | $10.6B | -11% | n/a | 20% | 60.1× | 27.3% |
| Voltamp Transformers VOLTAMP.NS | $1.04B | +1% | +18% | 15% | 28.6× | 35.4% |
| ABB India ABB.NS | $15.2B | -6% | +8% | 13% | 85.7× | 47.3% |
| CG Power & Industrial Solutions CGPOWER.NS | $12.9B | -10% | +24% | 12% | 72.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | POWERINDIA.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -12.1% | -6.9% | 4th lowest of 12 |
| 6-month return | -20.3% | -12.5% | 4th lowest of 12 |
| Distance from 52-week high | -28.3% | -26.8% | 5th lowest of 12 |
| Revenue growth (TTM) | +40.2% | +5.7% | highest of 12 |
| Operating margin | 15.4% | 15.1% | 6th highest of 12 |
| Forward P/E | 79.8× | 19.2× | 2nd most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 50.3% | 8.3% | most demanding of 10 |
| Growth delivered (Del g) | +19.0% | +4.1% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | +31.4 pp | +1.5 pp | most demanding of 10 |
| ROIC minus cost of capital | +7.4 pp | +2.4 pp | 4th highest of 12 |
| EV / EBITDA | 81.5× | 17.2× | most expensive of 10 |
| Net debt / EBITDA | -3.0× | 0.2× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hitachi Energy India POWERINDIA.NS | India | $13.1B | -20% | +40% | 15% | 79.8× | 50.3% | +19.0% |
| NXT NXT | United States | $15.8B | -17% | +14% | 19% | 20.9× | 22.0% | +24.4% |
| Posco Future M 003670.KS | South Korea | $10.6B | -36% | -9% | 2% | 282.1× | n/a | n/a |
| Fortive FTV | United States | $19.5B | +8% | -22% | 20% | 20.0× | 17.2% | -2.1% |
| Ralliant RAL | United States | $7.49B | +43% | -4% | 15% | 19.2× | 20.5% | -0.3% |
| China Railway Signal & Communication 3969.HK | Hong Kong | $7.40B | -15% | +6% | 12% | 7.4× | -6.9% | -3.6% |
| ESCO Technologies ESE | United States | $7.14B | -24% | +17% | 16% | 25.8× | 25.5% | +8.4% |
| MSA Safety MSA | United States | $6.55B | 0% | +8% | 22% | 17.5× | 8.3% | +6.8% |
| APAR Industries APARINDS.NS | India | $6.25B | +10% | +23% | 9% | 34.6× | n/a | n/a |
| Yokogawa Electric 6841.T | Japan | $6.24B | -30% | +7% | 13% | 15.5× | 6.8% | +10.1% |
| Sensata Technologies ST | United States | $5.72B | -13% | +4% | 16% | 9.9× | 5.2% | +4.1% |
| Azbil 6845.T | Japan | $4.63B | -2% | +1% | 15% | 18.7× | 5.5% | +3.9% |