Hitachi Energy India Limited (POWERINDIA.NS) fair value
Industrials · Electrical Equipment & Parts · NSE · India
₹26300.00-2.72%
Market cap ₹1.17TNext earnings 2025-07-22Updated Oct 24, 2026 · valuation updating
Our verdict
No fair value
We are missing the financial data our models need for this company. It will appear once the data arrives.
Not valued: there are no financial statements on file yet.
ACCE opinionHitachi Energy India Limited (POWERINDIA.NS)
Fair value
Not available
ACCE price target
₹25315
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: ₹26300 at the close on 23 Oct 2026, 12:00 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
60
out of 100
P/E
101.9x
forward 52.0x
1-year return
+54.0%
Dividend yield
0.03%
Hitachi Energy India Limited in four questions
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Overview
ACCE thesis
Hitachi Energy India makes power transformers, switchgear, and grid automation systems for utilities and large industrial customers, a business where order books run for years and qualified suppliers are few. The moat comes from installed-base service contracts, long qualification cycles with state transmission utilities, and the group's global technology licensing. Demand is being pulled by India's grid expansion and the renewable build-out, which need far more high-voltage equipment than the domestic supply chain can deliver. Revenue grew 68.6% in the latest reported period with a 39.0% gross margin and a 15.8% operating margin, so the top line is compounding faster than the cost base. The stock trades at 104.8 times trailing earnings and 53.4 times forward, a premium that only makes sense if that growth holds, so the question for a PM is whether order intake is converting to margin at the pace the forward multiple assumes.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Extreme valuation multiples
P/E of 104.8 and EV/EBITDA of 80.8 leave little room for error. Price sits 3.9% above the ACCE price target of ₹25315.00, so the stock already prices in strong continued growth.
moderate
Heavy promoter concentration
Insiders hold 71.5% of shares, leaving only 10.1% institutional ownership. Thin free float can amplify price swings on any change in promoter behaviour.
moderate
Sequential revenue decline
Revenue fell 9.5% quarter on quarter even though it grew 68.6% year on year. The growth rate may be lumpy, so one strong year should not be extrapolated.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
Revenue grew 68.6% year over year, well ahead of its 22.2% average annual pace over the past five years.
Net margin of 12.6% and debt to equity of 0.02 show a profitable business carrying almost no borrowed money.
Latest earnings per share beat expectations by 28.4%, with 65.99 reported against 51.40 expected.
Why it could disappoint
At a trailing P/E of 104.8x, the stock prices in a great deal of growth that must still be delivered.
The stock trades at 3.9% above the ACCE price target of ₹25315.00, which leaves little room for error.
The stock pays no dividend, with a 0.0% yield, so returns depend entirely on the share price rising.
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