Execution slowdown between HVDC projects
With the Adani HVDC project nearing completion and new HVDC orders yet to start, there could be a temporary revenue slowdown in coming quarters.
POWERINDIA / Q3-FY26 / risks
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Hitachi Energy India · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Commodity price inflation impact on margins
Rising commodity prices could pressure margins, though 70%+ of the order book has price escalation clauses.
Chinese transformer competition
Potential Chinese imports or local manufacturing could increase competition, but management is confident given level playing field.