Rs 7,552 crore order book and 500 per cent returns: Heavy buying witnessed in this multibagger power equipment company which makes fresh all-time high; do you hold it?

Shares of the company gained more than 130 per cent in the last six months.

Shares of Hitachi Energy India gained more than 9.00 per cent on Wednesday. Shares of Hitachi Energy India also made a new all-time high today. In the recent quarter Q3FY24, Hitachi Energy India reported robust Q3FY24 results, with net sales growth of 24.21 per cent to Rs 1,238.86 crore. The Operating profit increased by 70.22 per cent, and net profit stood at Rs 22.97 crore, which increased by 401.53 per cent from the previous year's same quarter.

The company achieved stable order bookings of Rs 1,235 crore in Q3FY24, maintaining the prior year's level. The company has a strong order backlog of Rs 7,552 crore, providing revenue visibility for nearly 22 months. The key order wins include substations for renewable energy sources, transformers for Chennai Metro Rail, and export orders for utilities in Africa, the Middle East, and Europe. India's energy demand is poised for substantial growth, necessitating a robust and modern electricity grid.

Hitachi Energy India Limited has delivered multibagger returns to its shareholders in the last three years. During this period, the company's share price surged from Rs 1772.80 on May 21, 2021, to Rs 10,679.70 on May 15, 2024, representing an increase of over 500 per cent in a three-year holding period.   

Hitachi Energy India Limited, founded in February 2019, offers power grid solutions across the entire power value chain. The company has 25 per cent equity shares traded publicly, while the remaining 75 per cent is held by Hitachi Energy Limited., a subsidiary of Hitachi Limited.

The stock has shown impressive growth, and investors should keep a close eye on this stock.   

Disclaimer: The article is for informational purposes only and not investment advice.