History

_x000D_ Hitachi Energy India Limited was formerly known as ABB Power Products and Systems India Ltd. It was incorporated on February 19, 2019, in Bengaluru. The company offers sustainable solutions for meeting India’s increasing demand for electricity with a minimum environmental impact. The company has an extensive installed base for manufacturing electric motors, generators, transformers, etc. It also has a power distribution and control capability and a pan-India marketing and service presence._x000D_ _x000D_ The company’s journey technically began in 1988, when ASEA and Brown Boveri Cie (BBC) merged to form ABB India. In 1989, the company began work on the first back-to-back HVDC transmission link project for NPTCL in Vindhyachal, thus connecting the northern and western grids._x000D_ _x000D_ In 2013, the company inaugurated its dry-type transformers and PASS-GIS factories in Savli, Vadodara, built under the Make in India Initiative. In 2015, the company installed end-to-end power solutions for the Delhi Metro. _x000D_ _x000D_ In 2017, the company commissioned the world's first multi-terminal UHVDC link, the 6,000 MW, 800 kV DC link project connecting the northeast to Agra. In 2020, the Company signed an MOU for the TOSA electric bus flash-charging technology in collaboration with Ashok Leyland. It also launched an advanced digital experience centre at PowerDEC in Bengaluru and inaugurated a High-Voltage Products Innovation Center at Vadodara. The company went public on March 30, 2020._x000D_ _x000D_ In May 2022, the company inaugurated the first facility in India to manufacture resin-impregnated paper bushings with up to 400 kV voltage levels at Vadodara. In August 2022, the company inaugurated a greenfield manufacturing facility for high-voltage power quality products in Karnataka. In FY 2022-23, the company commissioned the Raigarh-Pugalur HVDC project. It also launched the TRO600 series wireless routers with 5G capability, TXpertT Hub for digitising transformers, OceaniQTM portfolio for managing offshore wind energy, Lumada Inspection Insights for AI-based analysis of satellite images, etc._x000D_

Business Segments

_x000D_ The company has the following segments in its offerings:_x000D_

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1. Products and solutions - This includes the company's various physical products and systems. The list of products includes Cable Accessories, Capacitors and Filters, Communication Networks, Cooling Systems, Flexible AC Transmission Systems (FACTS), Generator Circuit-breakers (GCB), High-Voltage Switchgear and Breakers, High-Voltage Direct Current (HVDC), semiconductors, etc.
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2. Services and Consulting - This segment includes services related to Installation and Commission, assessment and security, training and development, upgrade, repair, decarbonisation, replacement and decommissioning, etc.
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_x000D_ As of FY 2023, while the sale of products brought in 79% of revenue, contracts for projects and sales of services brought in 18%._x000D_ _x000D_ Subsidiaries_x000D_ _x000D_ The company does not have any subsidiaries as of March 31, 2023._x000D_

Key Personnel

_x000D_ Venu Nuguri, Managing Director and CEO of Hitachi Energy in South Asia_x000D_ _x000D_ Mr Nuguri has been the Managing Director of Hitachi Energy’s India division since December 2019 and has been the Head of the South Asia region since January 2016. Venu joined Hitachi Energy’s predecessor in 1995 and has accumulated over 25 years of experience across multiple company business units, including sales, account management, marketing, business development, operations, etc. _x000D_

Corporate Actions

_x000D_ The company has not performed any major corporate actions in the recent past.