Hitachi Energy India has said that it received orders worth Rs.931 crore in the quarter ending December 31, 2021. This represented a growth of 12.7 per cent over the comparable quarter of 2020.
In a statement, Hitachi Energy India said that orders in the October-December quarter of 2021 were driven by the utilities and transportation sectors.
As of December 31, 2021, the outstanding order book position of Hitachi Energy India stood at Rs. 4,733.60 crore. This is “expected to unlock revenue streams in the coming months,” Hitachi Energy India said.
In the quarter ending December 31, 2021, the Company won major orders from leading power players toward solar and wind projects as well as toward Indian Railways’ electrification. Furthermore, Hitachi Energy wasa warded a project to set up a central command unit called ‘Remote Operations and Nerve Centre’ for India’s largest private transmission company to monitor and control their power substations in Rajasthan.
“Green shoots of economic recovery have materialized into a good quarter for business thanks to the continued shift to electrification in India and globally toward a carbon-neutral future,” said N Venu, Managing Director & Chief Executive Officer, Hitachi Energy India Ltd.
In the services segment, Hitachi Energy received a remote and on-site service and maintenance order from a steel major for their electrical devices, while our consultancy business drew demand for renewable studies from India and around the world. Hitachi Energy India also signed an agreement with Tata Power Delhi Distribution Ltd to nurture talent pool in power distribution sector through training programs.
Exports continued to lift orders, contributing approximately 25 per cent to the order book in the December quarter, with an increased contribution from othe company’s feeder factories. “Solid demand came from key utilities in South Asia and South America for our high voltage products and grid integration projects,” the company said.
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Operational highlights
Digitalization of processes to overcome pandemic-induced mobility challenges brought in numerous projects using remote factory acceptance tests as well as remote commissioning orders of high-voltage solutions for heavy industries in Abu Dhabi. Hitachi Energy India also advanced the use of its TXpert™ Dry solution, the world’s first digital dry-type transformer, as well as TXplore™– robotic inspection of power equipment for diverse projects. The company’s game-changing solution, IdentiQ™ digital twin for sustainable, flexible and secure power grids, was also introduced the quarter ending December 31, 2021.
Note: Hitachi Energy India’s accounting year ends on December 31. Accordingly, the October-December quarter represents the fourth quarter (Q4) of the accounting year. Incidentally, Hitachi Energy India has announced that it has since changed its accounting year to end on March 31.
Featured photograph (source: Hitachi Energy India) is for representation only
