Hitachi Energy India Limited (POWERINDIA) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Hitachi Energy India Limited stock ₹22,340, price ₹28,200, that is 20.8% below the price, quality 62 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ₹1,774 – ₹38,445 · fair‑value band ₹15,262 – ₹32,486 · the ₹28,200 price screens above the ₹22,340 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Hitachi Energy India Limited offers products, projects, and services for electricity transmission and related activities in India and internationally.
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The company is involved in engineering, integration, installation, commissioning, and support of project and services, and design, manufacturing, configuration, and supply of system, equipment, devices, and accessories products.
It also manufactures and sells electric motors, generators, transformers, and electricity distribution and control apparatus, as well as projects and services related electrical equipment.
In addition, the company offers cable accessories, capacitors and filters, communication networks, cooling systems, disconnectors, energy storage, flexible AC transmission system, generator circuit breakers, high voltage switchgear and breakers, insulation and components, power conversion, semiconductors, surge arresters, and transformers.
Further, it provides cybersecurity, digitalization, and power quality solutions, as well as substation automation, protection, and control services; and substations and electrifications solutions.
Additionally, the company offers asset and work management, energy portfolio management, and grid and generation management software. It serves utility and industry customers.
The company was formerly known as ABB Power Products and Systems India Limited and changed its name to Hitachi Energy India Limited in November 2021. Hitachi Energy India Limited was incorporated in 2019 and is headquartered in Bengaluru, India.
Hitachi Energy India Limited is a subsidiary of Hitachi Energy Ltd.
Stock analysis
Hitachi Energy India Limited (POWERINDIA) currently trades at ₹28,200, while our model-based Fair Value estimate is ₹22,340, 21% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹7,543 per share, and 0 of the 26 models we run sit above the ₹28,200 price.
Bear case: the Earnings-Based group reads lowest at ₹4,441, and 26 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹15,262 (bear) to ₹32,486 (bull), the price of ₹28,200 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Hitachi Energy India Limited reported revenue of ₹81.5B in FY2025 versus ₹38.7B in FY2021, a compound +20.5%/yr. Reported net income was ₹9.9B in FY2025, compounding +56.7%/yr from FY2021.
Key figures
Market cap ₹1.3T (≈ $13.3B) Large · P/E ratio 106.7 · P/S ratio 13.7 · EPS (TTM) ₹264.34 · Dividend yield 0.0% · Net margin 12.6% · Return on equity 21.0% · Return on assets (EBIT) 23.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 64 out of 100 (medium confidence).
What moves the price
The share trades about 27% below its 52-week high and 74% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −21%, POWERINDIA screens cheaper than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹78.83 to ₹10,510). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear₹15,262Fair Value ₹22,340Bull₹32,486
Price ₹28,200 · Downside -20.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (₹217.71 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
FCF DCF₹3,926₹5,573₹9,94176
Growth DCF₹3,781₹5,889₹9,53074
Residual Income₹1,284₹1,836₹3,36672
All 26 models by family
DCF Models
FCF DCF₹3,926₹5,573₹9,94176
Owner Earnings₹4,319₹7,903₹14,64970
5Y Revenue Exit₹3,623₹5,747₹9,86268
5Y EBITDA Exit₹4,461₹7,563₹13,22170
5Y P/E Exit₹5,015₹9,443₹15,15066
10Y Revenue Exit₹3,611₹6,079₹8,99963
10Y EBITDA Exit₹4,240₹7,543₹13,54063
10Y P/E Exit₹4,601₹8,509₹15,24159
Earnings-Based
Graham-Dodd₹1,507₹10,510₹14,74963
Lynch FV₹3,109₹4,441₹5,77461
PEG = 1.0₹3,109₹4,441₹5,77457
EPV₹2,557₹2,768₹2,94570
Dividend Discount
Gordon GGM₹47.51₹87.08₹121.6667
DDM Multi-Stage₹47.51₹78.83₹92.8567
Multiples
P/E Multiple₹4,654₹6,206₹7,75763
P/S Multiple₹2,826₹3,768₹4,71058
P/B Multiple₹5,192₹6,923₹8,65455
EV/EBIT₹5,685₹7,236₹8,78763
EV/EBITDA₹4,838₹6,106₹7,37564
EV/Revenue₹3,385₹4,393₹5,40152
Asset-Based
NCAV (Graham)₹516.80₹783.03₹978.7852
Growth DCF
Growth DCF₹3,781₹5,889₹9,53074
Rev-Margin DCF₹3,623₹6,016₹9,57968
Economic Profit
Residual Income₹1,284₹1,836₹3,36672
ROIC Compounder₹2,639₹2,953₹3,27770
Growth Earnings
Growth-Adj P/E₹4,859₹6,941₹9,02467
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+27.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.0%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.1%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)0.0%
⚠ Rate on operating basis: 2025 sits 474% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+49.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+27.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +43.3% a year for the price and +22.7% for the forecasts.
AI conclusion: The business benefits from scaling transformer production with strong order visibility to capture demand from data centers and renewables, yet shows little evidence of a durable moat and faces industry limits on pricing durability.
Main risk: Chinese manufacturers with Indian plants such as TBEA could win additional public-sector orders for transformers and grid equipment via competitive bidding, squeezing prices and margins for Hitachi Energy India.
Bull case: Strong localization, technology leadership in HVDC and data-centre solutions plus export growth could help the company maintain share and margins despite added competition and material constraints.
Bear case: If Chinese bidders capture meaningful PSU share and material shortages persist, order execution could slow, capacity additions might face lower utilization and margins could come under sustained pressure from pricing competition.
Hitachi Energy India is scaling up transformer production in India to capture rising demand from data centers, renewables and exports as part of its India-for-the-world strategy. Strong order visibility supports growth yet our models currently see the stock as overvalued. Will the capacity additions drive superior execution and margins or will competitive and supply-chain pressures limit the upside?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electrical Equipment & Parts · 560 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−20.8% · Above median
Profitability
Return on equity (12 months)21.0% · Top 25%
Return on assets8.2% · Top 25%
Net margin (12 months)12.6% · Top 25%
Operating margin (12 months)15.8% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)68.6% · Top 25%
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Hitachi Energy India Limited Fair Value". https://www.fairvalue-calculator.com/stock/POWERINDIA
Frequently asked questions
Is Hitachi Energy India Limited (POWERINDIA) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of ₹22,340 versus a price of ₹28,200, about 21% lower (overvalued).
What is the fair value of POWERINDIA?
Our model-based fair value for Hitachi Energy India Limited is ₹22,340 (as of Nov 5, 2026), built from audited fundamentals. The current price: ₹28,200.
What is the quality score of POWERINDIA?
Hitachi Energy India Limited has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Hitachi Energy India Limited (POWERINDIA)?
Our model-based price target is the fair value of ₹22,340 (as of Nov 5, 2026) from 26 valuation models. Cautious scenario ₹15,262, optimistic scenario ₹32,486. It is a calculation from audited fundamentals, not an analyst target.
What is the Hitachi Energy India Limited stock forecast for 2026?
Our models put fair value at ₹22,340, about 21% lower versus a price of ₹28,200 (overvalued). Cautious scenario ₹15,262, optimistic scenario ₹32,486. The calculation is refreshed regularly with new filings.
What is the revenue of Hitachi Energy India Limited (POWERINDIA)?
Hitachi Energy India Limited reported trailing-twelve-month revenue of about ₹91.6B (latest available figure, as of Nov 5, 2026).
Does Hitachi Energy India Limited pay a dividend?
Hitachi Energy India Limited currently shows a dividend yield of 0.03% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Hitachi Energy India Limited (POWERINDIA)?
For today's price to be fair in a discounted-cash-flow model, Hitachi Energy India Limited would have to grow free cash flow by +49.2 % per year for five years (discount rate 10.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +19.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of POWERINDIA use?
Our models discount Hitachi Energy India Limited at 10.7 %: a base by market capitalisation (large), damped by beta 0.62, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Hitachi Energy India Limited that is +49.2 % per year a year over ten years, using the same discount rate (10.7 %) and the same formula as our fair value.
How much growth has Hitachi Energy India Limited (POWERINDIA) delivered so far?
Over the past 5 years revenue at Hitachi Energy India Limited grew +19.0 % a year. The price currently implies +49.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Hitachi Energy India Limited (POWERINDIA) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Hitachi Energy India Limited (+49.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Hitachi Energy India Limited (POWERINDIA)?
The free-cash-flow yield on the price is 0.77 %: that much free cash flow Hitachi Energy India Limited produces per unit of market value. When it exceeds the discount rate of our models (10.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Hitachi Energy India Limited (POWERINDIA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Hitachi Energy India Limited it is ₹22,340 per share (as of Nov 5, 2026), against a price of ₹28,200. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Hitachi Energy India Limited stock overvalued or undervalued in 2026?
As of Nov 5, 2026, POWERINDIA trades above its calculated fair value: price ₹28,200, fair value ₹22,340, a gap of about −21% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of POWERINDIA?
No. The price is what the market pays today (₹28,200); the fair value is what the company's own numbers justify (₹22,340). For Hitachi Energy India Limited the two are ₹5,860 per share apart. That gap is exactly why we show both numbers side by side.
How much is Hitachi Energy India Limited worth?
The market values Hitachi Energy India Limited at about ₹1.3T (market capitalisation, as of Nov 5, 2026). Per share that is ₹28,200; our models calculate a fair value of ₹22,340 per share.
What do the bullish and bearish scenarios say about POWERINDIA?
Our models span a range for Hitachi Energy India Limited: cautious scenario ₹15,262, base ₹22,340, optimistic ₹32,486 per share (as of Nov 5, 2026, price ₹28,200). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of POWERINDIA?
Hitachi Energy India Limited trades at a price-to-earnings ratio of 106.7 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹22,340 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2020 to 2025), reported earnings: 109.4. Other multiples: P/B 24.3, P/S 13.7, EV/EBITDA 81.2.
How solid is the balance sheet of Hitachi Energy India Limited (POWERINDIA)?
Balance-sheet figures for Hitachi Energy India Limited (as of Nov 5, 2026): return on equity 21.0%. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is POWERINDIA from its 52-week high?
Hitachi Energy India Limited trades at ₹28,200, about 27% below its 52-week high of ₹38,445 and 74% above the low of ₹16,214 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹22,340 is for.
Which stocks are comparable to Hitachi Energy India Limited?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Delta Electronics (Thailand) Public Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Hitachi Energy India Limited stock attractive at the current price?
The data as of Nov 5, 2026: price ₹28,200, calculated fair value ₹22,340 (−21%), Quality Score 62/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of POWERINDIA calculated?
We run Hitachi Energy India Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹22,340, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Hitachi Energy India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Hitachi Energy India Limited (POWERINDIA)?
The closing price on Nov 5, 2026 was ₹28,200. Our model-based fair value is ₹22,340, about 21% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Hitachi Energy India Limited right now?
Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹15,262 to ₹32,486) leaves room in how you read the outcome.
Key figures of Hitachi Energy India Limited
How large is the market capitalisation of Hitachi Energy India Limited (POWERINDIA)?
The market capitalisation of Hitachi Energy India Limited is ₹1.3T (≈ $13.3B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Hitachi Energy India Limited (POWERINDIA)?
The price-to-sales ratio of Hitachi Energy India Limited is 13.7 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Hitachi Energy India Limited (POWERINDIA)?
Earnings per share at Hitachi Energy India Limited are ₹264.34 (price ÷ EPS = P/E 106.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Hitachi Energy India Limited (POWERINDIA)?
The dividend yield of Hitachi Energy India Limited is 0.0% (payout 3.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Hitachi Energy India Limited (POWERINDIA)?
The net margin of Hitachi Energy India Limited is 12.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Hitachi Energy India Limited (POWERINDIA)?
The return on equity (ROE) of Hitachi Energy India Limited is 21.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Hitachi Energy India Limited (POWERINDIA)?
On an EBIT basis the return on assets of Hitachi Energy India Limited is 23.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Hitachi Energy India Limited (POWERINDIA)?
The operating margin of Hitachi Energy India Limited is 15.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Hitachi Energy India Limited (POWERINDIA)?
Revenue at Hitachi Energy India Limited is growing +68.6% versus a year earlier (3y avg +22.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Hitachi Energy India Limited (POWERINDIA)?
Earnings per share at Hitachi Energy India Limited are growing +124% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Hitachi Energy India Limited (POWERINDIA) hold?
Hitachi Energy India Limited holds more cash than debt, ₹46.0B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 5, 2026