Results analysis · Power equipment
Looking for the Hitachi Energy India Q2 results FY27? The company reported on 12 November 2026: revenue up 63.5%, operating EBITDA up 69.5% but net profit up only 20.5%. This page ties the numbers to the base and the previous quarter, explains the gap between EBITDA and profit, shows where sources conflict and lists what to check in the filing.
Quick answer
Hitachi Energy India Q2 results FY27: revenue rose 63.5% to Rs 2,996.5 crore and net profit rose 20.5% to Rs 318.49 crore, per the Upstox live blog. Orders were Rs 4,120.8 crore, up 85.9%, with a record Rs 33,335.4 crore backlog, per Investywise. No dividend was mentioned. Reported 12 November 2026; no call here.
Latest update (Thursday, 12 November 2026, 6:45 PM IST): Hitachi Energy India reported Q2 FY27 results on Thursday, 12 November 2026. The Upstox live blog carried revenue and profit at 5:00 PM IST, an Upstox article followed at 5:42 PM IST and Investywise carried the fuller set, with page metadata of about 4:31 PM IST. I did not find a dividend, the standalone or consolidated label, an analyst estimate or a post-result price, and I have not opened the exchange filing.
Key takeaways
- Revenue: Rs 2,996.5 crore against Rs 1,832.6 crore a year earlier, up 63.5%, and 20.2% above Q1 FY27’s Rs 2,493.7 crore (my calculation).
- Profit: net profit of Rs 318.49 crore against Rs 264.36 crore, up 20.5%; the Upstox headline rounds this to 21%.
- Gap: operating EBITDA rose 69.5% to Rs 494.4 crore, but profit before tax rose only 22.0% to Rs 430.4 crore; no source explains the difference.
- Orders: Rs 4,120.8 crore, up 85.9%, taking the backlog to a record Rs 33,335.4 crore, up 13.3% in a year (my calculation).
- Sequential: orders were 19.1% below Q1 FY27’s Rs 5,096.5 crore, and the net margin slipped to 10.6% from 11.8% (my calculation).
- Still open: no dividend, basis label, estimate or post-result price found; the filing is not opened.
In plain words: Hitachi Energy India makes and services transformers, HVDC and grid equipment for power utilities and industry. It books revenue as large orders are delivered, so orders and the backlog show future revenue, while the margin shows how much of each rupee of sales is left after costs.
Data note: Figures are as of 12 November 2026, 6:45 PM IST. Revenue and profit come from the Upstox live blog; EBITDA, profit before tax, orders and backlog come from Investywise, which links the BSE filing; EPS of Rs 71.46 comes from a results page I read earlier and did not re-open. Earlier figures come from my Hitachi Energy preview. I could not open the exchange filings. Derived numbers are my calculation.
In this post
- What did Hitachi Energy India report?
- What was the Q2 FY26 base?
- How does Q2 compare with Q1 FY27?
- Why did EBITDA outgrow profit?
- Orders and the record backlog
- What the reports do not show
- What does the first half show?
- What did the preview say?
- Price and estimates
- Share count and price arithmetic
- Next-filing decoder
- How to read the filing
- What most people miss
- FAQs
- Sources
What did the company report in the Hitachi Energy India Q2 results FY27, and how big was the change?
In the Hitachi Energy India Q2 results FY27, revenue from operations was Rs 2,996.5 crore, up 63.5% from Rs 1,832.6 crore, and net profit was Rs 318.49 crore, up 20.5% from Rs 264.36 crore, per the Upstox live blog entry at 5:00 PM IST on 12 November 2026. Orders and backlog were at records or near them, per Investywise.
The results covered the quarter and half-year ended 30 September 2026. The Investywise page metadata shows about 4:31 PM IST (11:01 UTC), which is after the 3:30 PM close, and the Upstox entries are stamped 5:00 PM and 5:42 PM; I did not find the exact filing time. Companies must report within 45 days of the quarter-end, which made 14 November the limit, so this was day 43 (my calculation). Every number below is as reported by the sources named, and I have not opened the filing.
| Reported figures (quarter to 30 Sep 2026) | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue from operations | Rs 2,996.5 crore | Rs 1,832.6 crore | +63.5% |
| Operating EBITDA | Rs 494.4 crore | Rs 291.6 crore | +69.5% |
| Profit before tax | Rs 430.4 crore | Rs 352.9 crore | +22.0% |
| Net profit | Rs 318.49 crore | Rs 264.36 crore | +20.5% |
| Orders received | Rs 4,120.8 crore | Rs 2,217.1 crore | +85.9% |
| Order backlog | Rs 33,335.4 crore | Rs 29,412.6 crore | +13.3% (my calculation) |
Cite this table: Hitachi Energy India Q2 FY27 per Upstox and Investywise; Q2 FY26 marks per my earlier preview and Upstox; derived changes calculated by PositionalCalls.
The growth rates check against their bases: Rs 1,832.6 crore multiplied by 1.635 is Rs 2,996.5 crore, and Rs 264.36 crore multiplied by 1.205 is Rs 318.49 crore (my calculation). The headline of the Upstox article rounds profit growth to 21% while the body says 20.5%; arithmetic gives 20.46%, so I use 20.5%. None of the sources says whether the figures are standalone or consolidated, so I treat the basis as not confirmed.
Which basis does the Hitachi Energy India Q2 results FY27 headline use?
The sources do not say. The Upstox entry and the Investywise article both give a single set of figures without a label, and Investywise links a BSE filing that I could not open. Because the year-ago marks tie to the figures I held for the company in my preview, I have used them without a label, but a reader should confirm in the filing that all quarters are on the same basis.
What was the Q2 FY26 base, and does it tie to the Hitachi Energy India Q2 results FY27?
The year-ago base was revenue of Rs 1,832.6 crore, operating EBITDA of Rs 291.6 crore, profit before tax of Rs 352.9 crore and net profit of Rs 264.36 crore. One conflict remains: my preview recorded Q2 FY26 revenue as Rs 1,915.2 crore, which would make growth 56.5%, not the reported 63.5%.
| Q2 FY26 base | Figure | Q2 FY27 figure | Ties? |
|---|---|---|---|
| Revenue (Upstox) | Rs 1,832.6 crore | Rs 2,996.5 crore | Yes: +63.5% |
| Revenue (my preview) | Rs 1,915.2 crore | Rs 2,996.5 crore | No: would be +56.5% |
| Operating EBITDA | Rs 291.6 crore | Rs 494.4 crore | Yes: +69.5% |
| EBITDA margin on Rs 1,832.6 crore | 15.9% (my calculation) | 16.5% | Ties to the reported 15.9% |
| Profit before tax | Rs 352.9 crore | Rs 430.4 crore | Yes: +22.0% |
| Net profit | Rs 264.36 crore | Rs 318.49 crore | Yes: +20.5% |
| Orders | Rs 2,217.1 crore | Rs 4,120.8 crore | Yes: +85.9% |
Cite this table: Hitachi Energy India Q2 FY26 base per Upstox, Investywise and my earlier preview; ties calculated by PositionalCalls.
The Upstox base of Rs 1,832.6 crore is the one that ties to both the 63.5% growth and the 15.9% EBITDA margin, so I use it. The Rs 1,915.2 crore in my preview is Rs 82.6 crore higher; the gap may be other income or another line included in a total, but I cannot confirm that. A year earlier the profit was also lifted by a very low base, since Q2 FY25 profit was about Rs 52.3 crore and Q2 FY26 profit rose 405.6% from it, per the preview.
How do the Hitachi Energy India Q2 results FY27 compare with Q1 FY27?
Revenue of Rs 2,996.5 crore was 20.2% above Q1 FY27’s Rs 2,493.7 crore, EBITDA was 23.6% higher and net profit of Rs 318.49 crore was 8.3% above Rs 294.2 crore. Orders fell 19.1% from Rs 5,096.5 crore, and the net margin slipped to 10.6% from 11.8% (my calculation).
| Sequential view | Q2 FY27 | Q1 FY27 | Change, my calculation |
|---|---|---|---|
| Revenue | Rs 2,996.5 crore | Rs 2,493.7 crore | +20.2% |
| Operating EBITDA | Rs 494.4 crore | Rs 399.9 crore | +23.6% |
| Profit before tax | Rs 430.4 crore | Rs 389.5 crore | +10.5% |
| Net profit | Rs 318.49 crore | Rs 294.2 crore | +8.3% |
| Orders | Rs 4,120.8 crore | Rs 5,096.5 crore | -19.1% |
| Order backlog | Rs 33,335.4 crore | Rs 32,222.1 crore | +3.5% |
Cite this table: Hitachi Energy India Q1 FY27 figures per my earlier preview (results of 7 August 2026); Q2 FY27 per Upstox and Investywise; calculations by PositionalCalls.
Each line grew from Q1, but the growth thinned down the page: revenue 20.2%, EBITDA 23.6%, profit before tax 10.5% and net profit 8.3% (my calculation). That pattern is the same as the year-on-year one and points to costs or other lines between EBITDA and profit rather than to sales. Q1 FY27 also excluded a foreign-exchange and commodity timing loss of Rs 36.37 crore from its operating EBITDA, per the preview, and I did not find whether Q2 has a similar item.
Why did EBITDA outgrow profit in the Hitachi Energy India Q2 results FY27?
Operating EBITDA rose 69.5% but profit before tax rose only 22.0%. Profit before tax was Rs 64.0 crore below EBITDA this quarter, against Rs 61.3 crore above it a year earlier, a swing of Rs 125.3 crore that no source I read explains (my calculation).
| Margin and bridge (my calculation) | Q2 FY27 | Q2 FY26 | Q1 FY27 |
|---|---|---|---|
| Operating EBITDA margin | 16.5% | 15.9% | 16.0% |
| Profit before tax margin | 14.4% | 19.3% | 15.6% |
| Net profit margin | 10.6% | 14.4% | 11.8% |
| PBT minus EBITDA | -Rs 64.0 crore | +Rs 61.3 crore | -Rs 10.4 crore |
| Tax as % of PBT | 26.0% | 25.1% | 24.5% |
| Share of EBITDA gain reaching PBT | 38.2% | Not applicable | Not applicable |
Cite this table: Hitachi Energy India margins and bridge calculated by PositionalCalls from reported figures; not company disclosures.
EBITDA is profit before depreciation, interest and tax, and excludes other income. When profit before tax is above EBITDA, other income is large; when it is below, depreciation and finance cost exceed other income. Last year other income looks to have been large, and this year it does not, but I could not find the depreciation, finance cost, other income or any exceptional item, so this is my reading, not a finding. Of the Rs 202.8 crore rise in EBITDA, Rs 77.5 crore reached profit before tax, about 38% (my calculation).
Tax is not the cause. The implied rate was about 26.0% against 25.1% a year earlier and 24.5% in Q1, so tax explains little of the gap (my calculation). The net margin of 10.6% is 3.8 points below last year’s 14.4% even as the EBITDA margin rose 0.6 points.
What do orders and the record backlog show in this result?
Orders received were Rs 4,120.8 crore, up 85.9% from Rs 2,217.1 crore, and the order backlog reached a record Rs 33,335.4 crore at the end of September 2026, per Investywise. Orders were 19.1% below Q1 FY27 and the service business grew 77%.
| Order book item | Q2 FY27 | Q1 FY27 | Q2 FY26 |
|---|---|---|---|
| Orders received | Rs 4,120.8 crore | Rs 5,096.5 crore | Rs 2,217.1 crore |
| Order backlog | Rs 33,335.4 crore | Rs 32,222.1 crore | Rs 29,412.6 crore |
| Orders divided by revenue | 1.38 times | 2.04 times | 1.21 times |
| Backlog divided by annualised revenue | 2.8 years | 3.2 years | Not calculated |
| Backlog roll-forward | 32,222.1 + 4,120.8 – 2,996.5 = 33,346.4 | Reported 33,335.4 | Gap Rs 11.0 crore |
| Service business growth | +77% | Not found | Not found |
Cite this table: Hitachi Energy India order data per Investywise, Upstox and my earlier preview; ratios and roll-forward calculated by PositionalCalls.
Orders above revenue add to the backlog: 1.38 times in Q2 against 2.04 in Q1 (my calculation). The roll-forward differs from the reported backlog by Rs 11.0 crore, about 0.03%, which is small and may reflect cancellations, currency or adjustments; the sources do not say. The Q1 backlog divided by annualised Q1 revenue is 3.2 years and the Q2 figure is 2.8 years, which shows the book is large against current sales; it does not say when the work will be delivered or at what margin. Investywise also reports an environmental, social and governance rating that improved from 61 to 69.
What do the reports not show about this result?
The reports I read do not show the basis label, EPS from the filing, other income, depreciation, finance cost, exceptional items, the cash balance, segment margins, a dividend or any analyst estimate. Each would help explain why profit rose 20.5% while EBITDA rose 69.5%.
| Item missing from the reports | Why it matters | Last mark in my preview | Where to find it |
|---|---|---|---|
| Other income | Explains PBT above or below EBITDA | Q2 FY26 PBT above EBITDA by Rs 61.3 crore | Results table |
| Depreciation and finance cost | Explains the fall below EBITDA | Not found | Results table |
| Exceptional items | Can distort profit | Not found | Notes to results |
| FX and commodity timing | Excluded from operating EBITDA in Q1 | Rs 36.37 crore loss in Q1 FY27 | Management commentary |
| Dividend | Cash returned | No mention found | Board outcome |
| Standalone or consolidated label | Basis for comparison | Not stated | Filing |
Cite this table: Hitachi Energy India items not found in Q2 FY27 reports; earlier marks per my preview; PositionalCalls.
PositionalCalls WhatsApp channel
The results, then the filing check
- The revenue, profit and order lines as soon as they appear
- Why EBITDA and profit moved apart, explained
- Links to the updated page
These gaps matter because the same company can show a big operating gain and a small profit gain, and the cause changes how the quarter reads. If the gap came from one-off items it would not repeat; if it came from higher depreciation and interest on new capacity, it would be a recurring cost. I cannot tell which from what I read. The preview recorded planned capital spending of about Rs 720 crore in FY27 per a source I could not verify.
What does the first half show for Hitachi Energy India?
Adding Q1 and Q2, first-half revenue is about Rs 5,490 crore and net profit Rs 612.64 crore, up 54.7% from Rs 395.96 crore in the first half of FY26. The half-year profit ties to the sum of the two quarters, Rs 294.2 and Rs 318.49 crore (my calculation).
| First half | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue (my calculation) | About Rs 5,490 crore | About Rs 3,311 crore | +65.8% |
| Net profit | Rs 612.64 crore | Rs 395.96 crore | +54.7% |
| Net profit margin (my calculation) | 11.2% | 12.0% | -0.8 points |
| Operating EBITDA (my calculation) | About Rs 894 crore | Not calculated | No comparison |
| Profit before tax (my calculation) | About Rs 820 crore | Not calculated | No comparison |
| Share of H1 profit earned in Q2 | 52.0% | 66.8% | Lower in Q2 |
Cite this table: Hitachi Energy India H1 figures: profit per Upstox, other lines calculated by PositionalCalls by adding reported quarters; H1 FY26 revenue adds Rs 1,478.9 crore and Rs 1,832.6 crore.
The half-year profit of Rs 612.64 crore matches Rs 294.2 crore plus Rs 318.49 crore to within Rs 0.05 crore, which is rounding. Revenue grew faster than profit across the half, so the net margin was 11.2% against 12.0% a year earlier (my calculation). That is a smaller gap than the quarter alone shows, because Q1 FY27 profit had grown 123.5% on a weak base.
What did the preview say, and how did the Hitachi Energy India Q2 results FY27 compare?
The Hitachi Energy India Q2 results date FY27 preview named Q2 FY26 revenue, EBITDA and profit as the base, Q1 FY27 as the sequential mark, and raised guidance items such as a double-digit EBITDA margin. Revenue, EBITDA and profit were all above both marks.
| Preview mark | Preview figure | Reported in Q2 FY27 | Outcome |
|---|---|---|---|
| Q2 FY26 revenue | Rs 1,915.2 crore | Rs 2,996.5 crore | Above; base differs from Upstox |
| Q2 FY26 net profit | Rs 264.4 crore | Rs 318.49 crore | Above, +20.5% |
| Q1 FY27 revenue | Rs 2,493.7 crore | Rs 2,996.5 crore | Above, +20.2% |
| Q1 FY27 net profit | Rs 294.2 crore | Rs 318.49 crore | Above, +8.3% |
| Q1 FY27 backlog | Rs 32,222.1 crore | Rs 33,335.4 crore | Higher, +3.5% |
| Guided double-digit EBITDA margin | Unverified source | 16.5% | Above 10% |
Cite this table: Preview marks against reported figures; outcomes calculated by PositionalCalls.
The preview raised questions without a view, and this page records the answers without one. One correction: the preview carried Q2 FY26 revenue of Rs 1,915.2 crore, while the Upstox figure that ties to the reported growth is Rs 1,832.6 crore, and I use the latter here. The guidance items in the preview came from a source I could not verify, so the margin outcome is a comparison, not a test of a company promise.
The reports I read cite a close of about Rs 28,545 on 12 November 2026, down 1.91%, before the result. I found no post-result price, no analyst estimate and no consensus. The first trading reaction would be the next session, Friday, 13 November 2026 (my reading from the timestamps).
| Item | Figure | Source and status |
|---|---|---|
| Close on 12 November 2026 | About Rs 28,545, down 1.91% | Cited in the reports I read; not re-checked against an exchange quote |
| Implied previous close | About Rs 29,100 | My calculation |
| Share price after the result | Not found | No dated figure |
| Analyst consensus for Q2 | Not found | No estimate located |
| Brokerage targets | Not used | PositionalCalls does not use targets |
| First trading session after result | Friday, 13 November 2026 | My reading from the timestamps |
Cite this table: Hitachi Energy India price and estimate items as of the time stated; not verified against filings.
Without an estimate I cannot say whether the result beat or missed expectations. The comparison that can be made from reported figures is against the base and the previous quarter, done above. For other equipment names in the same results season, see Thermax Q2 results FY27 and Cummins India Q2 results FY27.
Rs 318.49 crore of profit divided by EPS of Rs 71.46 gives about 4.46 crore shares. At about Rs 28,545 that is a market value near Rs 1.27 lakh crore, and about 100 times Q2 earnings annualised. This is arithmetic, not a valuation view or a target.
| Price arithmetic (my calculation) | Figure | How it is built |
|---|---|---|
| Implied shares | About 4.46 crore | Rs 318.49 crore divided by EPS Rs 71.46 |
| Market value at Rs 28,545 | About Rs 1.27 lakh crore | Price multiplied by implied shares |
| H1 EPS | About Rs 137.5 | Rs 612.64 crore divided by 4.46 crore shares |
| Price divided by Q2 EPS annualised | About 100 times | 28,545 divided by (71.46 x 4) |
| Price divided by H1 EPS annualised | About 104 times | 28,545 divided by (137.5 x 2) |
| Q2 EPS annualised | About Rs 286 | Rs 71.46 multiplied by 4 |
Cite this table: Hitachi Energy India share count and price multiples calculated by PositionalCalls; EPS per a results page I read earlier and did not re-open; illustrations, not forecasts.
A multiple built from one or two quarters is crude: it assumes every quarter looks like these, and orders can be lumpy. Quarterly profit has ranged from Rs 294.2 crore in Q1 to Rs 318.49 crore in Q2, and the filing may show a different share count, so check both. I show the arithmetic so a reader can repeat it, not to say the price is high or low.
How do I read the next Hitachi Energy India results after this one?
On the next results read, in this order: other income and depreciation against the Rs 64.0 crore gap, operating EBITDA margin against 16.5%, orders against Rs 4,120.8 crore, backlog against Rs 33,335.4 crore, net profit against Rs 318.49 crore and any dividend.
| Order | Line to read | Mark to compare | Why it comes first |
|---|---|---|---|
| 1 | PBT minus EBITDA | -Rs 64.0 crore in Q2 FY27 | Explains the profit gap |
| 2 | Operating EBITDA margin | 16.5% in Q2 FY27 | Core profitability |
| 3 | Orders received | Rs 4,120.8 crore in Q2 FY27 | Future revenue |
| 4 | Order backlog | Rs 33,335.4 crore | Revenue visibility |
| 5 | Net profit | Rs 318.49 crore in Q2 FY27 | The headline |
| 6 | Tax rate | 26.0% in Q2 FY27 | Check it stays stable |
| 7 | Dividend | None mentioned | Cash returned |
Cite this table: Hitachi Energy India reading order, PositionalCalls.
For any summary or target you read elsewhere, compare its assumptions with these lines: the margin, the order inflow and the below-EBITDA costs. If it does not state them, you cannot check it.
How do I read the Hitachi Energy India filing and avoid fake tips?
Open the NSE or BSE announcement for Hitachi Energy India Limited, not a link in a message, and read the results table with the notes. Treat any tip that asks for an OTP, payment or login, or promises a target, as fake.
- Open the exchange announcement page for Hitachi Energy India Limited.
- Read the unaudited results table for the quarter and half year ended 30 September 2026 and note whether it is standalone or consolidated.
- Note revenue, other income, depreciation, finance cost, exceptional items, profit before tax and profit.
- Compare with Rs 2,996.5 crore, Rs 494.4 crore, Rs 430.4 crore and Rs 318.49 crore.
- Read the notes on exceptional items and the limited review conclusion.
- Check the press release and presentation for orders, backlog and management commentary.
PositionalCalls is not SEBI-registered, gives no buy or sell calls and never asks for payment. Nothing here is investment advice.
What do most people miss in the Hitachi Energy India Q2 results FY27?
Most readers see revenue up 63.5% and miss that profit rose only 20.5%, that the net margin fell to 10.6% from 14.4%, that orders were 19.1% below Q1 FY27 and that no source explains the Rs 125.3 crore swing between EBITDA and profit before tax.
Analyst’s note. What stands out: revenue grew 63.5% and EBITDA 69.5%, yet profit grew 20.5%, so much of the operating gain did not reach the bottom line (my reading). What is easy to miss: the backlog is a record at Rs 33,335.4 crore, but orders slowed from Q1. What would change the view: a filing that shows one-off items, other income or a different basis. Caution: the headline figures come from live reports and I did not open the filing. Reader action: read other income, depreciation and finance cost first.
Bottom line
The result shows revenue of Rs 2,996.5 crore (+63.5%), operating EBITDA of Rs 494.4 crore (+69.5%), net profit of Rs 318.49 crore (+20.5%) and a record backlog of Rs 33,335.4 crore, with orders 19.1% below Q1 FY27. There is no target or call on this page. I will update it when the filing is read. See our earnings coverage.
PositionalCalls WhatsApp channel
Never miss an update
- Results dates and order updates
- Numbers explained without tips or targets
- Updated posts as they go live
Hitachi Energy India Q2 results FY27: frequently asked questions
What did the company report in the Hitachi Energy India Q2 results FY27?
In the Hitachi Energy India Q2 results FY27, revenue was Rs 2,996.5 crore, up 63.5%, and net profit was Rs 318.49 crore, up 20.5%, reported on 12 November 2026. Orders were Rs 4,120.8 crore and the backlog a record Rs 33,335.4 crore. Figures are from Upstox and Investywise; check the filing.
What was Hitachi Energy India net profit in Q2 FY27?
Net profit was Rs 318.49 crore against Rs 264.36 crore a year earlier, up 20.5%, per the Upstox live blog. It was 8.3% above Q1 FY27’s Rs 294.2 crore, my calculation. The sources do not say whether the figure is standalone or consolidated, so confirm the basis in the filing.
Why did Hitachi Energy India profit rise less than revenue?
The reports I read do not give a reason. Operating EBITDA rose 69.5% but profit before tax rose only 22.0%, because PBT was Rs 64.0 crore below EBITDA against Rs 61.3 crore above it a year earlier. Other income, depreciation and finance cost were not found, so the gap is unexplained.
What is the Hitachi Energy India order backlog?
The order backlog was a record Rs 33,335.4 crore at the end of September 2026, per Investywise, up 13.3% from Rs 29,412.6 crore a year earlier and 3.5% from Rs 32,222.1 crore in Q1 FY27 (my calculation). Orders received were Rs 4,120.8 crore, up 85.9% year on year but 19.1% below Q1.
What was Hitachi Energy India EBITDA in Q2 FY27?
Operating EBITDA was Rs 494.4 crore, up 69.5%, with a margin of 16.5%, per Investywise. A year earlier it was Rs 291.6 crore, a margin of about 15.9% on Rs 1,832.6 crore of revenue, my calculation. Q1 FY27 was Rs 399.9 crore at 16.0%. In the Hitachi Energy India Q2 results FY27 margin rose.
Did Hitachi Energy India declare a dividend with Q2 results?
I found no dividend in the Upstox or Investywise reports of the Q2 FY27 results, which is not proof that none was declared. Check the board outcome on NSE or BSE. The Hitachi Energy India Q2 results FY27 reports I read were silent on a dividend, record date and payment date.
Did Hitachi Energy India beat Q2 estimates?
I found no analyst estimate or consensus for the quarter, so I cannot say whether it beat or missed one. Compare the result with the year-ago base of Rs 1,832.6 crore revenue and Rs 264.36 crore profit, and with Q1 FY27, as the tables on this page do.
I did not find a dated post-result price. The reports cite a close of about Rs 28,545 on 12 November 2026, down 1.91%, before the result, and the result came after the 3:30 PM close, so the first trading reaction would be the next session, my reading. No brokerage target is used.
Is this page financial advice about Hitachi Energy India?
No. This page is not investment advice, a target or a recommendation, and PositionalCalls is not SEBI-registered. It reports company figures and sources with dates, and labels my calculations. Read the exchange filing and consult a registered adviser before any decision.
Why does the revenue base differ from the preview?
My preview recorded Q2 FY26 revenue as Rs 1,915.2 crore, but Upstox gives Rs 1,832.6 crore, which ties to the reported 63.5% growth and the 15.9% EBITDA margin. The Rs 82.6 crore difference may be other income or a total line; I cannot confirm that without the filing.
Sources
- NSE India: corporate announcements: results notices.
- BSE India: corporate announcements: the results filing.
- Upstox: Q2 results live blog, Hitachi Energy entry, 12 November 2026, 5:00 PM IST.
- Upstox: Hitachi Energy Q2 results, PAT and orders, 12 November 2026, 5:42 PM IST.
- Investywise: Hitachi Energy India board approves Q2 FY27 results, 12 November 2026, about 4:31 PM IST.
- Upstox: Hitachi Energy India Q2 FY26 results, November 2025, for the base.
- PositionalCalls: Hitachi Energy India Q2 results date FY27 preview, 12 November 2026.
Disclosure: PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. PositionalCalls is an independent research and education site founded by Shubham Chaudhary. Nothing here is a recommendation, target or investment advice. How I researched this: for this page on the Hitachi Energy India Q2 results FY27 I read Upstox and Investywise, noted where sources differ, and marked every derived number as my calculation. I did not open any company filing or exchange document. Figures are as of 12 November 2026, 6:45 PM IST.
Shubham Chaudhary is the founder of PositionalCalls, an independent Indian stock market research website. He writes company fundamentals, quarterly results analysis, IPO analysis and sector research for NSE and BSE listed companies, with a focus on banking stocks, insurance and long-term value investing. Every article is built from primary sources such as RBI, SEBI, NSE and BSE filings and company annual reports, and states its risks plainly in simple language for retail investors.
Coverage areas Our research standards- Numbers checked against NSE, BSE and SEBI filings
- Risks and limits stated in every article
- No paid promotions or broker tie-ups
- Articles updated when new filings arrive