Q3 results impact: Hitachi Energy, MRF shares rise up to 12% on jump in net profit, BEML declines 5%

Shares rise in trade.

• Hitachi Energy India shares rose 14% on strong Q3 profit and revenue growth.
• MRF shares jumped 10% as net profit doubled in December quarter.
• BEML shares fell 5 percent after posting a quarterly loss due to higher expenses.

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Shares of Hitachi Energy India Ltd and MRF Ltd rallied sharply on Friday after the companies reported strong December quarter earnings, while state-owned BEML Ltd fell over weak results.

Shares of Hitachi Energy India rose as much as 14 percent to an intraday high of Rs 21,889 per share on the NSE. The stock opened with a gap-up gain of 8.86 percent and extended its advance for the second straight session.

The heavy electrical equipment maker reported a 90.3 percent year-on-year jump in net profit to Rs 261 crore for the third quarter, while total revenue rose 28.5 percent from a year ago. The company’s order backlog stood at Rs 29,872 crore.

Brokerage firm Jefferies said the company’s EBITDA beat estimates by 43 percent, aided by 420 basis points higher-than-expected EBITDA margins at 16.6 percent. Emkay Global upgraded the stock to ‘Add’ from ‘Sell’ and raised its price target by about 20 percent to Rs 20,825 from Rs 17,400, citing a robust opportunity pipeline supported by the company’s diversified product portfolio.

Meanwhile, shares of tyre maker MRF surged over 10 percent to Rs 1,49,070 per share on the NSE. The company reported a more than two-fold jump in net profit to Rs 679 crore for the December quarter, while revenue from operations rose 15.3 percent year-on-year.

In contrast, shares of BEML declined over 5 percent to Rs 1,655.40 per share on the NSE after the company posted weak earnings.

BEML reported a consolidated loss of Rs 22.38 crore for the quarter ended December 31, 2025, weighed down by higher expenses. The company had posted a consolidated profit of Rs 24.41 crore in the corresponding quarter a year ago.

The company’s consolidated income rose to Rs 1,087.13 crore during the quarter from Rs 880.28 crore in the year-ago period. Total expenses increased to Rs 1,112.54 crore from Rs 850.70 crore a year earlier, according to a regulatory filing. BEML operates across mining and construction, defence, and rail and metro segments.

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