Hitachi Energy India Ltd ended FY24 with an outstanding order book position of over Rs.7,200 crore, as of March 31, 2024.
In a media release, Hitachi Energy India said that its outstanding order book as of March 31, 2024 was Rs.7,229.5 crore, providing revenue visibility for the coming quarters.
For the full year ending March 31, 2024, the order inflow was Rs.5,536.3 crore up 14 per cent (excluding an HVDC order booked in FY23) from the corresponding last twelve months.
The first two quarters of the year were impacted by supply limitations such as delays in procurement of semiconductors and other key electronic components. While continually monitoring the situation, the company has also deployed strategic initiatives to mitigate the impact of supply chain turbulence to the extent possible, the release said.
Performance in Q4FY24
In Q4 (January to March) of FY24, orders totaled Rs.1,406.7 crore, up 13.9 per cent over Q3FY24 and 11.5 per as compared with Q4FY23.
Industries led the charge with electrification and digitalization of energy networks, across sectors from steel to silicon. Contribution from transmission projects followed, with orders from EPCs. Orders for hydro, wind and solar plant operations and integration continued the renewables momentum, the release said.
Service and export orders were up 43 per cent year-on-year, each, maintaining their strong contribution to the overall order book. Exports of transformers, power quality technologies and other key products to markets like Middle East, Southeast Asia and neighboring countries in South Asia accounted for around 25 per cent of the order book in Q4FY24.
Well positioned
According to N Venu, MD & CEO, Hitachi Energy India Ltd, “Sustained economic growth, and ongoing investments in the energy transition especially renewables, transmission infrastructure, data centers and electrification of transport are encouraging trends from a market perspective and we are well positioned to leverage these as we continue to grow the business.”
Also read: Hitachi Energy Kicks Off “Energy & Digital World 2024”
Featured photograph (source: Hitachi Energy India) is for representation only.
