Hitachi Energy India Ltd

Meeting Details

• Date: 20 August 2026; Time not specified; Mode: in-person; Type: one-on-one.
• Organizer: Morgan Stanley; Company management to participate.

Participants

• Company management (roles not specified); Analyst/investor participants from Morgan Stanley.

Purpose

• Discuss company updates with analysts/investors.

Meeting Details

• Date: August 7, 2026; Time: not disclosed
• Type/Mode: group virtual analyst conference call
• Event/Organiser: Hitachi Energy India Limited Q1 FY27 Analyst Conference Call

Participants

• MD & CEO: N Venu; CFO: Ajay Singh; General Counsel & Company Secretary: Poovanna Ammatanda
• Investor Relations: Priyanka Bhagat

Purpose

• Discuss Q1 FY27 results and outlook; investor interaction and Q&A

Availability

• Conference recording available; transcript of August 7, 2026 call enclosed
• Presentation accessible via Hitachi Energy India's investor relations site; no links included

Event Presentation Availability

• Presentation material for Citi's 2026 India Industrials Access Day will be hosted on the company's website.
• Event dates: August 12–13, 2026, in Singapore and Hong Kong.

Audio recording upload

• Audio recording of the August 7, 2026 analyst/investor call uploaded to the investor relations page.
• Call duration 05:30–06:30 PM IST; disclosure cited under SEBI LODR Regulations 30 and 46.

Meeting Details

• Aug 12, 2026 — Citi’s 2026 India Industrials Access Day; In Person; Group/One-on-One meetings; Company management to participate.
• Aug 13, 2026 — Meetings in Singapore and Hong Kong as part of the same event; details not specified.

Issue Overview

• Type of issue: QIP; securities: equity shares.
• Total issue size and net proceeds: no revision or undersubscription reported.
• Main objectives: capex funding, working capital, and general corporate purposes.

Utilisation of Proceeds

• Utilisation is as per disclosures; no deviations observed.
• Capex object: utilised 469.66 crore in quarter; cumulative 634.63; unutilised 878.65.
• Working capital: no utilisation in quarter; unutilised 350.00.
• GCP: no utilisation; unutilised 613.01.
• Unutilised funds are parked in short-term deposits and MA balance.
• Delay: capex implementation delayed due to adverse weather and scope revisions.
• Means of finance for objects unchanged.

Governance and Compliance

• Approvals: government/statutory and shareholder approvals are not specified in the filing.
• Material events: weather-driven delays and project scope changes; no other material risks stated.
• Other information: monitoring agency notes No Comments on several items.

GCP

• GCP utilisation: 0 utilised; no quarter utilisation.
• Board approval for allocation: not specified.

QIP proceeds status

• Purpose: Confirmation that QIP proceeds were used as per the Placement Document.
• Mode of fund raising: Qualified Institutional Placement.
• Amount raised: Rs 2520.82 crores gross; Rs 2,476.29 crores net.
• Date of fund raising: March 13, 2025.
• Monitoring agency: Crisil Ratings Limited.
• Deviation: No deviation or variation in use of funds.
• Status of fund utilisation: Partially utilised; Rs 634.63 crores utilised.
• Utilisation by object: capital expenditure 634.63 crores; working capital Nil; general corporate Nil.
• Audit/AC or auditors' comments: Not applicable.

Business overview

• Core business: energy transition technologies for renewables, HVDC, utilities, data centers.
• Strategy emphasizes data centers, BESS, edge solutions, and export growth.

Operational highlights

• Karjan transformer factory groundbreaking; Rs 2,000 Cr capex; completion by 2028.
• Q1FY27 orders: Rs 5,096.5 Cr including HVDC.
• Renewables: first 165 MW/330 MWh BESS project in Andhra Pradesh.
• Europe: 2 GW HVDC offshore grid connection order.
• Data center orders: over 560 MVA transformers, 800 MVA dry, 230/33 kV GIS.
• Hyderabad: 40x2500 KVA project awarded.
• Karjan factory groundbreaking attended by Gujarat CM and 250+ customers.
• Karjan plant targets 2028 completion; designed for digital, smart manufacturing.

Financial performance

• Revenue from operations: Rs 2,493.7 Cr in Q1FY27, up 68.6% YoY.
• PBT: Rs 389.5 Cr; margin 15.6%.
• PAT: Rs 294.2 Cr; margin 11.8%.
• Operational EBITDA: Rs 399.9 Cr; margin 16.0%.
• Orders (with HVDC): Rs 5,096.5 Cr; YoY -55.1%.

Capital structure & liquidity

• Karjan capex: Rs 2,000 Cr for transformer capacity expansion; 2028 target.
• Supports Make in India and energy self-reliance.

Strategic priorities & outlook

• Strengthen core: renewables, utilities, HVDC, industries, and infrastructure.
• Expand data centers, BESS, and edge solutions.
• Drive exports, services, and digital initiatives.
• Capex growth to support backlog conversion and margins.
• Manufacturing expansion and AI adoption for productivity.

Q1 FY27 results approved

• Approved unaudited standalone Q1 FY27 results for quarter ended June 30, 2026, with Limited Review Report.
• Press release accompanying results issued to stock exchanges under Regulation 30.

Insider trading and disclosure policy amendments

• Amended Insider Trading Code and Fair Disclosure Code under PIT Regulations; posted on the company website.

Operational updates

• Launched construction of 20th manufacturing unit at Karjan, Vadodara, in June 2026.
• Highest ever order backlog of INR 32,222.1 crore as of Q1FY27.

Regulatory and governance disclosures

• Labour Code impact: gratuity and leave liabilities increased by Rs 54.24 crore; presented as exceptional item for FY26.
• Independent Auditor's Review Report states no material misstatement in unaudited results.
• Company has no subsidiary/associate/joint venture as of June 30, 2026.