Brokerage firm Jefferies has maintained its “buy” rating on the stock and has raised its price target to ₹43,145 apiece from the previous ₹25,000.
Jefferies has raised its estimated earnings per share (EPS) for financial year 2027 and 2028 by 10% and 27% respectively after Hitachi Energy’s EBITDA and profit after tax beat expectations by 46% and 41%, respectively, in the March quarter.
Hitachi Energy India’s fourth quarter profit after tax increased 79.3% from last year to ₹330 crore and was 5.4% above street estimates of ₹313 crore. Its earnings before interest, tax, depreciation and amortisation (EBITDA) increased 63% to ₹416.24 crore from ₹255.49 crore last year. The figure was also 4.3% above street expectations of ₹399 crore.
Jefferies said the industry demand trends remain robust and high voltage direct current (HVDC) projects should be margin accretive and contribute to the company’s growth going ahead.
The company announced additional capex to meet industry demand, the brokerage said. Data centers and exports is a high growth area which should add to the domestic transmission and distribution (T&D) demand, the brokerage added.
Jefferies expects Hitachi Energy India’s Earnings Per Share (EPS) to grow at a Compounded Annual Growth Rate (CAGR) of 58% over financial year 2026 and 2028 and improving visibility on the 35% EPS CAGR beyond financial year 2028 will drive further upside for the stock.
Of the 17 analysts who have coverage on the stock, 10 have a “buy” rating, five have a “hold” rating and two have a “sell” rating.
Shares of Hitachi Energy India Ltd. ended the previous session flat at ₹35,645 apiece. The stock has gained 11.2% in the past month and 92.9% this year, so far.
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