Hitachi Energy Celebrates 75 Years of Powering India, Announces INR 2,000 Cr Investment

  • calendar07 Oct, 01:39 AM (GMT+5:30)
  • time4 Min
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Summary

Hitachi Energy announced on Monday, October 7, a significant investment plan that marks its 75-year milestone of contributing to India’s energy sector. Over the next four to five years, the company will invest approximately INR 2,000 crore to expand its capacity, product portfolio, and talent base, further advancing India’s sustainable energy future. 

Hitachi Energy Celebrates 75 Years of Powering India, Announces INR 2,000 Cr Investment

Key Takeaways from the Announcement

  • Hitachi Energy has announced an investment of INR 2,000 crore over the next 4-5 years to expand its capacity, product portfolio, and talent base in India, furthering its commitment to sustainable energy.
  • The company’s investment will focus on boosting manufacturing capabilities, including large and small power transformers, traction transformers, and advancing testing facilities to support India's growing energy demands and railway modernisation.
  • The two-day "Energy & Digital World 75" symposium celebrates 75 years of Hitachi Energy in India, gathering over 2,000 participants to discuss innovations in clean energy, sustainable electrification, and smart infrastructure.
  • Hitachi Energy showcased groundbreaking technologies, including the SF6-free 420-kilovolt gas-insulated switchgear and Grid-eMotion® solutions, reinforcing its role in accelerating India’s Net-Zero journey.

Since it started its journey as Hindustan Electric, over the years, the Hindustan Brown Boveri, ABB Power Grids, and now Hitachi ABB Power Grids have been strongly contributing to India's energy transition. As a fitting tribute to this success, Hitachi Energy will be organising the "Energy & Digital World 75," or EDW75—the two-day experiential technology symposium centred on technologies and discussion areas aligned with India's Net Zero goals. The maiden important event will be inaugurated by key dignitaries Amitabh Kant, India's G20 Sherpa, Andreas Schierenbeck, Global CEO of Hitachi Energy, and N Venu, Managing Director and CEO of Hitachi Energy India.

This two-day symposium marks the company's 75-year legacy in India, where it shines its focus on cutting-edge technologies and discussions meant to help India move toward a Net-Zero approach. More than 2,000 participants, including policymakers, industry experts, and global leaders, convene to discuss innovation in clean energy, electrification, and smart infrastructure. This focuses on launching its transformative technologies, such as SF6-free gas-insulated switchgear and Grid-eMotion.

This investment strategy will enable the company to invest more into India's energy sector as the country aims at becoming a super power and third largest in the world. The revenues generated from this investment will be channelled into expanding Hitachi Energy's large power transformer factory, upgrading testing capabilities of speciality transformers, relocation of its bushings factory, and increasing the capacity of the traction transformer factory to modernise India's railway network. It will easily improve the country's transmission infrastructure to be able to cater to growing energy demands

Commenting on the announcement, Andreas Schierenbeck, Global CEO of Hitachi Energy said, "The energy challenge before us is bigger than one company, one team, and one individual. As the energy transition gathers pace with increased electrification and integration of renewables, power grids are becoming increasingly significant both from a capacity and complexity perspective. We remain focused on advancing a sustainable energy future for all and India is an important market in our effort to make the world's energy system more sustainable, flexible, and secure," 

"We have been continuously investing in India over the past seven and a half decades. The new investments are geared toward expanding and upgrading capacity and talent, strengthening supply chain and enabling flexibility through digitalization in line with the Hitachi Energy 2030 strategic growth plan." he added.

N Venu, Managing Director and CEO, Hitachi Energy India, said, "Through innovative technologies and solutions, Hitachi Energy seeks to create a world suitable for today's generations and those to come. These investments anticipate India's future energy requirement – to accelerate new energy transition and sustainable electrification - and the evolving nature of collaboration with customers and other stakeholders locally and in global markets, especially through digitalization and a lifecycle partner. It further strengthens our vision of make in India for India and the rest of the world,".

About Hitachi Energy

Hitachi Energy is one of the most leading companies in technology. The company enforces all efforts in a shift toward a greener and more secure energy future. The company engages with clients and partners to make the energy systems greener and more flexible as well. Hitachi Energy has a great presence in more than 140 countries and has many esteemed sectors, such as utilities, industry, transportation, and infrastructure. High-voltage direct current links, together with digital solutions, represent a good example of the state-of-the-art technologies that the company is applying to make electricity more efficient and accessible. The company, headquartered in Switzerland, has around 45,000 employees in 90 countries and annually generates business of around $13 billion USD.

About Hitachi Limited.

Hitachi focuses on social innovation by using data and technology to create sustainable solutions for global challenges. The company operates across three main sectors: Digital Systems & Services, Green Energy & Mobility, and Connective Industries. These sectors work together to drive digital transformation, decarbonisation, and innovation across various industries. With a presence in 573 subsidiaries and a global workforce of around 270,000, Hitachi reported total revenues of 8,564.3 billion yen in fiscal year 2023 (ending March 31, 2024). The company aims for growth through collaboration with its customers, focusing on digital and green solutions.

Source - NSE

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Himalaya Food Int Q2 FY25 Net Profit Skyrockets 101% Y-o-Y to Rs 2.05 Cr

  • calendar07 Oct, 02:53 AM (GMT+5:30)
  • time2 Min
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Summary

Himalaya Food International Limited released its earnings results for the second quarter and the six months ending September 30, 2024. The company’s Q2 FY25 net profit skyrocketed 101% Y-o-Y to Rs 2.05 crores, compared to Rs 1.02 crores in the same quarter last year. 

Himalaya Food Int Q2 FY25 Net Profit Skyrockets 101% Y-o-Y to Rs 2.05 Cr

Key Takeaways from Edelweiss Financial Services' NCD Issue:

  • Himalaya Food International's net profit soared by 101% to Rs 2.05 crores in Q2 FY25, compared to Rs 1.02 crores in the same quarter last year.
  • Sales for Q2 FY25 increased by 3.6% to Rs 11.28 crores, while six-month sales rose by 14.74% to Rs 22.02 crores compared to the previous year.
  • Despite the sales growth, six-month revenue plummeted by 89.5% to Rs 2.26 crores, down from Rs 21.6 crores last year.
  • Basic and diluted earnings per share for Q2 FY25 rose to Rs 0.35, up from Rs 0.18 a year ago, while for the six-month period, they increased to Rs 0.51 from Rs 0.27.

Sequentially, net income for the six month period rose 86.6% to Rs 2.93 crores, compared to Rs 1.57 crores last year.

The company’s sales for the second quarter FY25 rose slightly 3.6% to Rs 11.28 crores, up from Rs 10.89 crores a year earlier. Revenue reached Rs 11.44 crores compared to Rs 10.82 crores in the previous year. 

For the six-month period, sales totaled Rs 22.02 crores, up 14.74% compared to Rs 19.19 crores a year earlier. However, revenue for the period was Rs 2.26 crores, down 89.5% from Rs 21.6 crores in the previous year. 

The company EBITDA for the quarter ended September 2024 stood at Rs 3.47 crore, up 29.5% compared to Rs 2.68 crores it reported in the same quarter previous year.

Basic earnings per share for Q2 FY25 from continuing operations stood at Rs 0.35, compared to Rs s 0.18 a year ago, while diluted earnings per share from continuing operations was also Rs 0.35, up from Rs 0.18. 

For the six-month period, basic earnings per share from continuing operations was Rs 0.51, up from Rs 0.27 a year ago, and diluted earnings per share from continuing operations was also Rs 0.51, compared to Rs 0.27. 

About Himalaya Food International Limited: 

Himalaya Food International Limited is India's largest company for frozen and canned food, providing jobs for over 1,200 people directly and more than 1,000 through contract farming in developing areas. It was the first Indian food company to offer a wide range of products in the US market.

Himalaya operates two modern facilities in North and West India that are certified to ISO 22000 standards. They focus on producing 100% natural, vegetarian products without chemicals. The company preserves nutrition and freshness using quick chilling, freezing, and a retorting process, avoiding any chemical preservatives.

Source - BSE

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Edelweiss Financial Services Announces Rs 2,000 Mln Public Issue of Secured Redeemable NCDs

  • calendar07 Oct, 01:50 AM (GMT+5:30)
  • time2 Min
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Summary

Edelweiss Financial Services has announced, on October 7, the launch of a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) with a face value of Rs 1,000 each. The total amount for the issue is set at up to Rs 1,000 million, with an additional green shoe option bringing the total to Rs 2,000 million. 

Edelweiss Financial Services Announces Rs 2,000 Mln Public Issue of Secured Redeemable NCDs

Key Takeaways from Edelweiss Financial Services' NCD Issue:

  • Edelweiss Financial Services is launching a public issue of Secured Redeemable Non-Convertible Debentures (NCDs) with a face value of Rs 1,000 each.
  • The issue aims to raise up to Rs 1,000 million, with an option to increase this to ₹2,000 million.
  • The NCDs will have tenures of 24, 36, 60, and 120 months, offering fixed interest rates between 9.50% and 11.00% per annum.
  • At least 75% of the funds raised will be used to repay existing debts, while the rest will be for general corporate purposes. The NCDs are rated “CRISIL A+/ Watch Negative,” indicating good safety for investors.

The NCDs will have a tenure of 24, 36, 60, and 120 months and will offer fixed interest rates ranging from 9.50% to 11.00% per annum, with various options for interest payments. The issue will open on October 7, 2024, and close on October 18, 2024. 

At least 75% of the funds raised will be used to pay off existing borrowings, while the remaining amount will be allocated for general corporate purposes. The NCDs have been rated “CRISIL A+/ Watch Negative,” indicating a satisfactory level of safety for investors. 

The issue will be managed by Trust Investment Advisors Private Limited, Nuvama Wealth Management Limited, and Tipsons Consultancy Services Private Limited, and the NCDs will be listed on BSE Limited for investor liquidity.

About Edelweiss Financial Services Limited:

Edelweiss Financial Services Limited (EFSL) was founded on November 21, 1995, originally as Edelweiss Capital Limited, starting its journey as an investment banking firm after obtaining a Category II license from SEBI. In 2000, it upgraded to a Category I Merchant Banker license, and in 2011, the company changed its name to Edelweiss Financial Services Limited. The company's equity shares were listed on the BSE and NSE in December 2007.

Since its beginnings in investment banking, EFSL has diversified into various sectors, including retail and corporate credit, mutual funds, asset management, life insurance, and general insurance. The company emphasizes product innovation and providing a great customer experience, which has helped it grow its customer base to around 8.2 million. As of June 30, 2024, EFSL had 254 offices out of which 251 are in India and 3 international.

Source - NSE

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Godrej Properties Achieves Record Performance in Q2 and H1 FY25

  • calendar07 Oct, 12:45 AM (GMT+5:30)
  • time5 Min
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Summary

Godrej Properties (GPL), one of India's leading real estate developers, has announced on Friday, October 4, its highest-ever performance in several key operational areas for the second quarter (Q2) and the first half (H1) of the financial year 2025. The company delivered exceptional growth in bookings, collections, operating cash flow (OCF), and new business development.

Godrej Properties Achieves Record Performance in Q2 and H1 FY25

Key Takeaways from the Announcement

  • Godrej Properties recorded its highest-ever Q2 and H1 bookings, collections, and OCF.
  • Q2 FY25 booking value reached ₹5,200 crore, and H1 FY25 booking value grew by 89% YoY to ₹13,800 crore.
  • The company added 8 new projects in FY25, with a total estimated saleable area of 11 million sq. ft. and a booking value potential of ₹12,650 crore.

Godrej Properties has reported a remarkable performance for the second quarter (Q2) of the financial year 2025, achieving a booking value of nearly ₹5,200 crore. This figure represents 3% year-on-year (YoY) growth and was achieved through the sale of over 5.1 million square feet., marking the highest-ever Q2 bookings in the company's history. For the first half (H1) of FY25, the booking value surged by over 89% YoY to more than ₹13,800 crore, with the sale of over 8,600 homes covering a total area of over 14 million sq. ft. This achievement also signifies the highest-ever H1 bookings for Godrej Properties. The company has successfully attained 51% of its annual booking value target for FY25, which is a notable improvement from the 37% average contribution seen in the first half over the past five years.

The strong performance in Q2 was significantly driven by the successful launch of key projects, including Godrej Vrikshya in the National Capital Region (NCR), which contributed ₹1,500 crore in booking value, and Godrej Woodside Estate, a plotted development project in the Mumbai Metropolitan Region (MMR), which delivered a booking value exceeding ₹600 crore. Regionally, bookings in NCR, Bengaluru, and MMR exhibited substantial growth in H1 FY25, with NCR bookings increasing by 69% to over ₹5,400 crore, Bengaluru bookings more than doubling (up by 200%) to over ₹3,800 crore, and MMR bookings rising by over 100% to ₹3,100 crore.

In terms of collections, Godrej Properties reported a remarkable growth of 68% YoY in Q2 FY25, reaching over ₹4,000 crore. H1 FY25 collections also showed a 62% YoY increase, standing at over ₹7,000 crore. These figures reflect the highest collections recorded for both Q2 and H1 in the history of the company. So far in FY25, Godrej Properties has achieved 47% of its annual collection target in just the first half of the year. The company also recorded its highest-ever operating cash flow (OCF) for both Q2 and H1. The Q2 FY25 OCF grew by over 120% YoY to ₹1,800 crore, while the H1 FY25 OCF rose by over 200% YoY to ₹2,800 crore.

Godrej Properties has made a strong start in business development for FY25, adding eight new projects that cover a total estimated saleable area of approximately 11 million sq. ft. The total booking value potential for these projects is around ₹12,650 crore. Notably, six of these new projects, added in Q2 FY25, have an estimated booking value of ₹9,650 crore. As a result, Godrej Properties has already achieved 63% of its annual business development target for FY25, showcasing its commitment to expanding its portfolio and market presence.

Commenting on the positive performance, Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale up we have achieved in the past couple of years. The sales bookings of over INR 13,800 crore in H1FY25 surpasses our annual bookings in FY23. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 89%. Importantly, our robust sales performance, has translated into record collections growth of 62% to over INR 7,000 crore and Operational cash flow growth of over 200% to over INR 2,800 Crore in H1FY25.”

We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. Our business development additions of Rs 12,650 crores in H1FY25 will ensure that we continue to have a strong launch pipeline not just for the current year but for years to come. This includes a number of projects at the prestigious Golf Course Road in Gurugram. We have also entered the market of Indore recently and are looking forward to our first launch in this city. We have built a deep understanding across the key real estate markets in India and are greatly excited by the potential the next several years offer for us to deliver sustained high-quality performance across all key operating metrics.” he added.

About Godrej Properties Limited

Founded in 1990, Godrej Properties Limited is part of the Godrej Industries Group and is committed to bringing innovation, sustainability, and excellence to the real estate industry. With a legacy of 127 years, the company focuses on cutting-edge design and technology in its developments. In FY 2024, Godrej Properties was recognised as the largest residential developer in India based on sales value.

The company prioritises sustainable development, committing to ensuring all its projects are certified green buildings. Recognised globally for its sustainability and governance practices, Godrej Properties ranked #1 among listed residential developers by the Global Real Estate Sustainability Benchmark in 2020, 2021, and 2022. As a founding partner of the Sustainable Housing Leadership Consortium (SHLC), it promotes sustainable practices across the Indian real estate sector.

Source - NSE

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