The new order inflow of Hitachi ABB Power Grids in India rose by 31.4 per cent year-on-year during the quarter ending June 30, 2021.
The company saw new order inflow of Rs.745.6 crore in the April-June quarter of 2021, as against Rs.567.3 crore in the same quarter in 2020.
The order inflow was driven by rail, data centers, and utilities, Hitachi ABB Power Grids in India said in a release. The company booked multiple transformer orders from power transmission, rail and infrastructure companies. The company also delivered its comprehensive power quality solutions for emerging market segments such as datacenters.
Increased power demand resulted in orders from utilities and industry for high voltage (HV) equipment, digital solutions, and service for power system stability, protection, and energy efficiency. The company’s focus on digital solutions remained strong.
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“As India aims to achieve 450 GW of renewables penetration by 2030, our power quality consultancy studies supported utility and industry customers in deploying clean energy,” the company said in a release.
Exports remained healthy, contributing to around a third of the order intake in the second quarter. Breakthrough orders for transformers and high voltage equipment were booked in the second quarter.
As of June 30, 2021, the order backlog of Hitachi ABB Power Grids in India stood at Rs.4,770.8 crore.
“Delivered on commitments”
“We managed to sustain business continuity and performance while balancing the ongoing COVID-19 challenges, including lockdowns and disrupted supply chains. Protecting people has been our priority, and we have also strived to support the communities around us during these testing times,” said N. Venu, Managing Director and CEO of Hitachi ABB Power Grids, India.
“We have remained resilient and delivered on our commitments to our customers in traditional and emerging market segments, within the limited flexibility and regardless of weak industrial demand. We remain cautiously optimistic of opportunities in sectors such as renewables, transmission, rail, and datacenters,” he added.
Note: The accounting year of Hitachi Power Grids in India ends on December 31. Hence the period from April 1 to June 30 represents the “second” accounting quarter. Hitachi Power Grids in India operates under the legal entity named “ABB Power Products and Systems India Limited”. Further, on July 1, 2021, the global entity “Hitachi Power Grids” announced that it will be evolving to become “Hitachi Energy” effective October 2021.
