Multibagger alert: This power technology company doubled investors’ wealth in a year!

Multibagger alert: This power technology company doubled investors’ wealth in a year!

by 5paisa Research Team Last Updated: 2022-03-31T17:20:36+05:30

An investment of Rs 1 lakh in this stock would have turned to Rs 2.5 lakh today.

Hitachi Energy India Ltd, an S&P BSE 500 company has generated exceptional wealth for investors in the last one year. During this period, the company’s share price has jumped from Rs 1367.3 on 31 March 2021 to Rs 3551.65 on 29 March 2022. An investment of Rs 1 lakh in this stock would have turned to Rs 2.5 lakh today.

Formerly known as ABB Power Products and Systems India Limited, Hitachi Energy India is the Indian arm of Hitachi Energy. The company provides the most comprehensive grid portfolio across the entire value chain and operates in 4 segments- Grid Automation, Grid Integration, High Voltage Products and Transformers.

As a leading provider of power technologies and energy systems, the company caters to the needs of utilities, transportation, IT such as data centres, industry and Smart Life sectors.

In the quarter ending 31 December, the company’s net revenue went up by 6.71% YoY to Rs 1094.54 crore. However, owing to a rise in the cost of materials consumed, the PBIDT (ex OI) declined by 13.67% YoY to Rs 61.77 crore. On the other hand, the net profit experienced a surge of 12.19% YoY to Rs 61.66 crore.

During the quarter, the company bagged orders worth Rs 931 crore, an increase of 12.7% YoY. The growth in order was driven by the utilities and the transportation sectors. Further, the company secured major orders from leading power players toward solar and wind projects as well as toward Indian Railways’ electrification.

At 1.38 pm, the shares of Hitachi Energy India Ltd were trading at Rs 3491.85, a decrease of 1.68% from the previous day’s closing price of Rs 3551.65 on BSE. The stock has a 52-week high & low of Rs 4040 and Rs 1316.95, respectively.

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