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Shares of energy stock <a target="_blank" href="https://mintgenie.livemint.com/stocks/abb-power-products-%2526-sys-india-S0003480">Hitachi Energy </a>has given tremendous returns to investors, rallying nearly 4 times in just the last 2 years. The stock has jumped from around ₹839 in June 2020 to currently trade around ₹3,300 per share, advancing as much as 292 percent in this period. In comparison, the benchmark Nifty has risen around 60 percent in this time.

Hitachi Energy India, incorporated on 19 February 2019, is engaged in the business of power technologies and provides a range of grid portfolios across the entire value chain. The company’s products include a range of high-voltage products, transformers, grid automation and integration products, high-voltage direct current products, and power quality products and systems. The firm was previously known s ABB Power Products.

The stock has risen 80 percent in the last 1 year and around 45 percent in 2022 so far.

In the March quarter, the firm posted an over 31 percent rise in net profit to ₹51.68 crore on the back of higher revenues. It had posted a net profit of ₹39.44 crore in the year-ago quarter. Its revenue in Q4FY22 grew 9.6 percent YoY to ₹1,113.5 crore driven by successful execution and delivery of domestic and global orders.EBITDA margin, however, was down by 130 bps YoY to 6 percent due to higher input cost but its orders grew by 23 percent YoY to 1,043.6 crore. As of March 31, 2022, the order backlog stood at ₹4,672.3 crore, of which 60 percent of the backlog is having variable contracts and the remaining, 30 percent of the order backlog has fixed contracts.Recommending the energy stock as its top positional pick, HDFC Securities has a Buy rating on Hitachi Energy with target prices of ₹2850 and ₹3100 and a stop loss of ₹2,370 with a time horizon of up to three months.Meanwhile, Geojit Financial Services has assigned a Hold rating to the stock with a target price of ₹3,597 per share."We expect Hitachi to grow steadily in the future backed by a strong order book. The company is focused on high-growth segments and building sustainable operations. However, inflationary pressure, supply-side challenges, and freight costs are expected to remain a concern in the near term," said the brokerage.Post the earnings, N Venu, MD and CEO, Hitachi Energy India said, "the continued shift from fossil fuels to electrification by India's industrial sector towards a carbon-neutral future is encouraging and we also experienced solid demand from transmission utilities and industries."While supply chain constraints and commodities pose short-term challenges, our long-term growth prospects remain intact," he added.Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.&nbsp;

Up 4 times in 2 years! Did you miss the rally in this energy stock?

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The stock has jumped from around ₹839 in June 2020 to currently trade around ₹3,300 per share, advancing as much as 292 percent in this period. In comparison, the benchmark Nifty has risen around 60 percent in this time.

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