Latest news with #HVDC
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Business Standard
2 hours ago
- Business
- Business Standard
Hitachi Energy India Q1 results: Profit jumps to ₹132 cr on revenue rise
Hitachi Energy India on Wednesday posted multi-fold increase in net profit at ₹131.60 crore for June quarter 2025-26 mainly due to higher revenues and lower base effect. The company logged a net profit of ₹10.42 crore in the same period a year ago. Revenue rose to ₹1,529.84 crore in the quarter from ₹1,327.33 crore a year ago, a company statement said. This was achieved through effective order execution during the quarter and continued improvement in overall operational efficiency. With effective execution of high-margin orders, sustained operational excellence, a good product mix, and increased export momentum, the company saw a significant YoY growth in profit after tax (net profit) on a lower base, it said. Furthermore, it stated that the steady collection of receivables, along with advances, resulted in a positive cash impact in the quarter, supporting the company's commitment toward improving margins and strengthening overall operational efficiency and capacity. In the June quarter, the orders totalled ₹11,339.2 crore, higher than ₹2,436.7 crore a year ago, led by the large project win of Bhadla-Fatehpur High Voltage Direct Current (HVDC) link. The company also received a bulk order from POWERGRID to supply 30 units of 765-kilovolt (kV) 500 megavolt-ampere (MVA) single-phase transformers. In terms of segment, transmission continues to lead the order book, followed by orders from the rail & metro and data center segments. Service clocked a 91 per cent YoY order growth; some of the key service orders include SCADA upgrades, equipment replacement, and annual maintenance contracts. Meanwhile, exports maintained consistency by contributing 24.7 per cent without HVDC orders in Q1 FY26?, it stated. In the quarter, the company received export orders from Europe, South America, and Asia, it stated. The order backlog stood at ₹29,125.3 crore during the period, providing revenue visibility for the coming quarters. "India's ongoing efforts to integrate renewables, coupled with growth in data centers and AI, the increasing electrification needs of industry and transport continue to drive grid infrastructure development in the country. As one of the fastest growing large economies in the world, India needs to persist with deploying state-of-the-art technologies at speed and scale as it powers ahead to inspire the next era of a sustainable energy future for all," MD & CEO N Venu said. Hitachi Energy is a global technology leader in electrification, powering a sustainable energy future with innovative power grid technologies with digital at the core.
News18
3 hours ago
- Business
- News18
Hitachi Energy India Q1 profit jumps multi-fold to Rs 132 cr
New Delhi, Jul 30 (PTI) Hitachi Energy India on Wednesday posted multi-fold increase in net profit at Rs 131.60 crore for June quarter 2025-26 mainly due to higher revenues and lower base effect. The company logged a net profit of Rs 10.42 crore in the same period a year ago. Revenue rose to Rs 1,529.84 crore in the quarter from Rs 1,327.33 crore a year ago, a company statement said. This was achieved through effective order execution during the quarter and continued improvement in overall operational efficiency. With effective execution of high-margin orders, sustained operational excellence, a good product mix, and increased export momentum, the company saw a significant YoY growth in profit after tax (net profit) on a lower base, it said. Furthermore, it stated that the steady collection of receivables, along with advances, resulted in a positive cash impact in the quarter, supporting the company's commitment toward improving margins and strengthening overall operational efficiency and capacity. In the June quarter, the orders totalled Rs 11,339.2 crore, higher than Rs 2,436.7 crore a year ago, led by the large project win of Bhadla-Fatehpur High Voltage Direct Current (HVDC) link. The company also received a bulk order from POWERGRID to supply 30 units of 765-kilovolt (kV) 500 megavolt-ampere (MVA) single-phase transformers. In terms of segment, transmission continues to lead the order book, followed by orders from the rail & metro and data center segments. Service clocked a 91 per cent YoY order growth; some of the key service orders include SCADA upgrades, equipment replacement, and annual maintenance contracts. Meanwhile, exports maintained consistency by contributing 24.7 per cent without HVDC orders in Q1 FY26, it stated. In the quarter, the company received export orders from Europe, South America, and Asia, it stated. The order backlog stood at Rs 29,125.3 crore during the period, providing revenue visibility for the coming quarters. 'India's ongoing efforts to integrate renewables, coupled with growth in data centers and AI, the increasing electrification needs of industry and transport continue to drive grid infrastructure development in the country. As one of the fastest growing large economies in the world, India needs to persist with deploying state-of-the-art technologies at speed and scale as it powers ahead to inspire the next era of a sustainable energy future for all," MD & CEO N Venu said. Hitachi Energy is a global technology leader in electrification, powering a sustainable energy future with innovative power grid technologies with digital at the core. PTI KKS ANU view comments First Published: July 30, 2025, 17:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Upturn
2 days ago
- Business
- Business Upturn
Diamond Power secures Rs 1,349 crore order from Adani Energy; shares in focus
By Aditya Bhagchandani Published on July 28, 2025, 13:54 IST Diamond Power Infrastructure Ltd. (DPIL) announced on July 28 that it has received a Letter of Intent (LoI) from Adani Energy Solutions Ltd. for a massive order worth ₹1,349.11 crore. The contract involves the supply of 24,080 kilometers of AL-59 high-performance conductors, which will be used in marquee transmission projects including Jamnagar, Khavda-IV D, HVDC, Navinal-II, and Mahan-II. The order will be executed by June 2028 and is awarded on a 'kilometers rate basis with PV (Price Variation) formulae.' With this addition, Diamond Power's consolidated order book now stands at ₹2,800 crore, ensuring strong revenue visibility over the next two years. In anticipation of rising demand, the company has already scaled up its AL-59 conductor production capacity from 24,000 MTPA to 1,00,000 MTPA through its wholly owned subsidiary DICABS NexGen. Two of the three advanced integrated rod mills are already operational, with the third expected to go live by July 2025. Strategic significance and outlook This is one of the largest AL-59 conductor orders in India , solidifying Diamond Power's position as a key player in the power transmission value chain. , solidifying Diamond Power's position as a key player in the power transmission value chain. India's transmission infrastructure is set for a massive upgrade, with over 300,000 circuit kilometers of new lines expected by 2030, as per CEA and CRISIL estimates. of new lines expected by 2030, as per CEA and CRISIL estimates. The AL-59/HTLS conductor market is growing at a 15–18% CAGR, driven by demand for high-ampacity and corrosion-resistant solutions. Leadership view Kavish Shah, Vice President of Corporate Strategy at DPIL, called the order a 'transformational moment,' affirming the company's scale, technical credibility, and execution capability in India's evolving power grid infrastructure landscape. About Diamond Power Infrastructure Ltd. Headquartered in Vadodara, Gujarat, DPIL is one of India's largest single-location manufacturers of power cables and conductors, with an installed conductor capacity of 2,50,000 MTPA and significant capabilities in LV, MV, and EHV cable segments. The company serves over 900 clients, including utilities, EPCs, metro rail projects, and international markets. Disclaimer: This article is for informational purposes only and not investment advice. Please consult your financial advisor before making investment decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
18-07-2025
- Business
- Yahoo
National Grid picks Sumitomo Electric for 2GW Sea Link HVDC project
The UK National Grid has chosen Sumitomo Electric Industries, a Japan-based cable manufacturer, as the preferred bidder to supply and install the subsea cable for the 2GW Sea Link high-voltage direct current (HVDC) electricity transmission project. The Sea Link project comprises a 138km undersea cable crossing under the Thames Estuary and southern North Sea, and connecting converter stations in Kent and Suffolk. The project aims to provide clean and affordable energy to households, businesses and public services within those regions and beyond. National Grid chief engineer and offshore delivery director for strategic infrastructure Zac Richardson stated: 'The selection of Sumitomo Electric as preferred bidder, and the use of UK-based cable manufacturing for the first time in decades, is a major step forward. 'It will bring real investment in UK jobs, skills and industrial capability. Sea Link is part of our wider programme of upgrades that will also support around 55,000 jobs across the UK by the end of the decade.' Sumitomo Electric was chosen as the preferred bidder following an extensive tender process. The works will be executed at the company's new under-construction production facility at Port of Nigg, Scotland. The £350m ($407m) investment by Sumitomo Electric into its Nigg factory is expected to create 150 jobs while supporting local businesses and supply chains. Sumitomo Electric Industries managing director Masaki Shirayama stated: 'I am pleased with the preferred bidder position for Sea Link and thank National Grid's team for the evaluation and the decision. 'We plan to manufacture and supply 525kV HVDC cable from our factory in the UK. As proven in other HVDC projects in the region, we are committed to deliver the project in a timely manner with the highest standards of safety and quality.' This announcement follows Siemens Energy's appointment to construct converter stations for the Sea Link project. In August 2024, Sumitomo Electric Industries completed the Greenlink interconnector, linking Ireland and Wales with an HVDC and fibre optic connection. "National Grid picks Sumitomo Electric for 2GW Sea Link HVDC project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
The National
17-07-2025
- Business
- The National
£2.5bn Scotland-England electricity 'superhighway' names preferred bidder
Eastern Green Link 4 (EGL4), a joint venture between SP Energy Networks and National Grid Electricity Transmission (NGET), will transport green electricity between Fife and West Norfolk and onto the network via a 530km high voltage subsea cable. EGL4 is one of five proposed subsea links between Scotland and England being delivered through joint ventures with Scottish transmission owners. Together the five links will be capable of powering up to 10 million homes Ofgem gave the green light to the £2.5 billion project last year. Construction is currently expected to begin in 2029, with the link becoming operational in 2033. READ MORE: Scottish unemployment falls while UK rate rises to highest since pandemic Two converter stations will be built at the cable's two landfall points, Torness in East Lothian, and Hawthorn Pit in County Durham, changing the electricity from alternating to direct current – the most efficient way for it to travel long distances. Specialist boats will be used to lay cables across the seabed and bury them throughout the route before connecting them to the grid. READ MORE: James Goode, project director for EGL4, said: 'Reaching preferred bidder stage is a key milestone for EGL4 and a sign of the progress being made on this vital infrastructure project. Siemens Energy brings strong expertise in HVDC converter station delivery and will be a critical partner as we prepare to build this subsea superhighway. "EGL4 will help create the capacity our electricity system needs for the future, connecting clean, home-grown energy to homes and businesses and strengthening the UK's energy security.' Deputy project director and head of converter delivery, Iain Adams, added: 'The east coast of Britain is playing a vital role in transforming the electricity network as we build another bi-directional link between Scotland and England, helping to reduce constraints on the network, increase energy security and promote economic growth. "We're pleased to be partnering again with National Grid to deliver EGL4 and are excited to welcome Siemens Energy and the wealth of expertise they will bring to this project.
