Hitachi Energy plans to invest around Rs 2,000 crore on expanding its capacity, portfolio, and talent base. In some of its product lines, the firm is also looking to double its capacity. N Venu, managing director & CEO, India and South Asia, Hitachi Energy, talks about the company’s operations and issues in the energy sector during an interaction with Raghavendra Kamath. Excerpts:
What kind of revenue growth are you looking at in the coming years?
We don’t make forward-looking statements…however, to give a qualitative overview, in the last three years we have been growing faster than the market. We will do the same in the coming years. If you look at our six months’ performance in the current financial year, our orders have grown by 50% and our revenues have grown by almost 20%. Our margins expanded by 220 basis points. If the market grows, we will grow in line or faster than the market.
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A lot of new technologies have come up in the renewables space such as hybrid projects, round-the-clock projects, green hydrogen, and so on. How is the company gearing up to tap these opportunities? Are you bringing new products?
The government has set a target of 500 GW for renewable energy by 2030, over 600 GW by 2032, and 500 GW of interstate transmission networks to be built by 2030. These are all huge tailwinds for our company…Renewables is our focus area and then transmission as well. For transmission, we have been localising a lot of products over the last 2-3 years. We have brought in an HVDC factory in Chennai…We are continuously bringing in new products. For instance, we have launched SF6 Free 420KV GIS for the first time in the world, because in a decarbonised world, you cannot have an equipment filled with SF6. SF6 (Sulfur hexafluoride) creates 23,000 times more warming than CO2. So, you need to also have sustainable products.
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