Hitachi Energy India Limited (POWERINDIA.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-92.1%

₹2,166.99

vs ₹27,380.00 price

Levered DCF

₹6,939.29

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	109.35×	135.91×	181.78×	150.88×	65.32×	54.89×	13.31×
P/B	20.87×	12.38×	21.89×	11.66×	9.46×	5.87×	3.15×
P/S	13.26×	8.17×	5.68×	3.17×	2.77×	1.6×	0.68×
EV / EBITDA	71.92×	81.26×	85.46×	54.43×	41.83×	20.67×	6.91×
Gross margin	31.0%	37.1%	34.3%	35.1%	35.5%	40.1%	36.7%
Operating margin	14.1%	28.3%	24.9%	25.7%	25.2%	28.9%	28.4%
Net margin	12.1%	6.0%	3.1%	2.1%	4.2%	2.9%	5.1%
Current ratio	1.55×	1.76×	1.16×	1.16×	1.15×	1.09×	1.07×
Debt / equity	0.02×	0.02×	0.16×	0.28×	0.17×	0.04×	0.41×
Interest coverage	90.15×	39.94×	22.99×	21.21×	23.08×	26.34×	49.31×
Dividend yield	0.0%	0.0%	0.0%	0.1%	0.1%	0.0%	0.0%
Payout ratio	2.7%	4.4%	8.8%	13.5%	5.1%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	19.1%	9.1%	12.0%	7.7%	14.5%	10.7%	23.6%
Return on invested capital	16.0%	31.2%	58.4%	53.1%	54.1%	74.5%	69.4%
Return on assets	8.2%	4.5%	3.4%	2.4%	4.7%	2.8%	5.8%
Free cash flow yield	0.9%	2.6%	0.4%	-0.0%	-2.8%	9.5%	-6.6%
Earnings yield	0.9%	0.7%	0.6%	0.7%	1.5%	1.8%	7.5%
Enterprise value	₹1T	₹484.7B	₹298.5B	₹143.4B	₹108.1B	₹52B	₹28B
Net debt / EBITDA	-3.2×	-6.23×	0.24×	0.65×	0.4×	-1.11×	0.39×
Cash conversion cycle (days)	-18	19	70	57	18	-10	58