Hold Hitachi Energy India; target of Rs 26,108: Prabhudas Lilladher

Prabhudas Lilladher recommended hold rating on Hitachi Energy India with a target price of Rs 26,108 in its research report dated March 10, 2026.

Broker Research

March 10, 2026 / 14:50 IST

hold

Prabhudas Lilladher's research report on Hitachi Energy India

POWERIND is poised for strong growth driven by 1) it being a leading player in HVDC technology with ~Rs434bn addressable opportunity over the next 3 years, 2) energy-transition-led addressable market opportunity of Rs1trn+, 3) increasing demand from high-growth industries such as data centers, 4) strong global parentage and 5) improving share of services and exports driving margin expansion. We estimate revenue/adj PAT CAGR of 34.3%/67.5% over FY25-28E with EBITDA margin expanding by 712bps led by operating leverage. The stock is currently trading at P/E of 79.7x/57.8x on the earnings of FY27/28E. Initiate with ‘Hold’.

Outlook

We initiate coverage on Hitachi Energy India (POWERIND) with ‘Hold’ rating at TP of Rs26,108 valuing the company at P/E of 60x Mar’28E.

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