Hitachi Energy India growing at CAGR of 11% over last 3 years

Hitachi Energy has been spending almost Rs 100 crore per year on the capex and it will sustain in coming years. We are also spending one per cent on the research and development every year - N Venu, MD & CEO, India & South Asia, Hitachi Energy

Hitachi Energy India Ltd, a subsidiary of Swiss-based Hitachi Energy and listed on both stock exchanges in India, has outperformed with a compound annual growth rate (CAGR) of 11 per cent, which is higher than the energy market in the country. While the market is witnessing a single-digit growth, it has seen double-digit growth during the past three years.

N Venu, MD & CEO, India & South Asia, Hitachi Energy, is optimistic about the future growth prospects of the company with a slew of infrastructure projects that have been announced by the Union government. Speaking about the overall market situation, he said: “Energy transition is a huge opportunity in India. The overall market size stands at Rs 30,000-40,000 crore in the country.”

Today, Hitachi Energy has approximately 7,000 employees across 19 factories located in eight manufacturing sites in India, along with shared services and a global technology and innovation center in Chennai. This growth highlights the company’s dedication to the Make in India initiative, aiming to serve both domestic and global markets.

Venu further said, “As a part of Corporate Social Responsibility (CSR) project, Hitachi Energy India has set up Smart Electric Grid - Laboratory at National Institute of Technology (NIT) Warangal for quality education and skill development. Out of the total workforce, nearly 2,000 interns were absorbed into the company as engineers from institutes like NIT Warangal. We plan to hire more freshers every year.”

“Hitachi Energy Technology Services Pvt Ltd, a non-listed entity of the same group, is planning to establish Global Capability Centers (GCCs) in Hyderabad and Pune over next six months to one year,” he said, without revealing the investment details. He added that the plan is still in a nascent stage and it would be too early to comment on the exact location and size of the GCCs.

Hitachi Energy is a global technology leader that is championing the urgency of a clean energy transition through innovation and collaboration towards a carbon-neutral future. The company continues to pioneer technologies in the country that integrate renewable energy into the world’s power grids and accelerate the electrification of transportation, industries and buildings sectors.

“Hitachi Energy has been spending almost Rs 100 crore per year on the capex and it will sustain in coming years. We are also spending one per cent on the research and development every year,” the MD informed.