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Hitachi Energy In The Catbird Seat; ICICI Securities Initiates Coverage With 'Buy', Sees 31% Upside
ICICI Securities expects Hitachi Energy's revenues/Ebitda/profit to grow at 38%/72%/96% CAGRs over FY24–27E, thus Initiates coverage with Buy and a target price of Rs 16,617.
17 Apr 2025, 11:15 AM IST 
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Hitachi Energy stock is currently trading at 46x FY27E EPS.
(Photo Source: Company website)
Hitachi Energy India Ltd., a global market leader, is in the catbird seat to benefit from this rising investment. It has already begun reaping benefits – we estimate the order book as of FY25E at ~Rs 290 billion (book to bill of ~4.5x). In the brokerage's view, order outlook remains strong for the next four-five years. Its margins are set to improve on the back of operating leverage and better pricing environment.
