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Large cap stock jumps 5% after company received work order worth ₹ 790 Cr from Hitachi Energy Australia

Published 25-06-2024, 01:28 pm
Large cap stock jumps 5% after company received work order worth ₹ 790 Cr from Hitachi Energy Australia
HIIL
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LargeCap stock engaged in providing a comprehensive grid portfolio across the entire value chain jumped 5 percent in the day’s trade upon receiving a work order worth Rs. 790 Crores.

Price Action

With a market capitalization of Rs. 50,748 Crorees, the shares of Hitachi Energy India Limited were trading at Rs. 11,975 per equity share, up 3.27 percent from its previous day’s close price of Rs. 11,601.15.

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What Happened

Hitachi Energy India Limited has received a work order for a consideration of Rs. 790 Crores from Hitachi Energy Australia Pty Ltd, a fellow subsidiary of the Company towards the execution of Project, Marinus Link Voltage Source Converter (“VSC”), High Voltage Direct Current links between Tasmania and Victoria, for the supply of certain equipment for the execution of the project, Burnie Converter Station and Latrobe Valley Converter Station.

About the Company

Hitachi Energy India Limited formerly known as ABB (ST:ABB) Power Products and Systems India is engaged in providing a comprehensive grid portfolio across the entire value chain.

Its products and solutions, including asset & work management, cable accessories, capacitors and filters, cooling systems, disconnectors, energy storage, generators circuit-breakers (GCB), semiconductors, substation automation, protection & control, substations & electrification, transformers, components, and high voltage switchgear and breakers and many others.

Financials & Ratios

Its revenue from operations grew by 28.46 percent from Rs. 1,292.83 Crores in Q4FY23 to Rs. 1,660.79 Crores in Q4FY24, accompanied by profits of Rs. 50.81 Crores to Rs. 113.66 Crores.

In terms of Return ratios, it has reported a return on equity (ROE) of 12.7 percent and a return on capital employed (ROCE) of 17.2 percent. It has reported a debt-to-equity ratio of 0.16.

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Written by: Bharath K.S

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