Hitachi Energy India faces Rs 26-crore tax demand

Hitachi Energy India Limited said on Saturday that it has received a tax demand notice from the Income-tax Department for the assessment year 2022–23, asking the company to pay Rs 26.07 crore. This amount includes Rs 16.40 crore as income tax and Rs 9.67 crore as interest, according to the company’s exchange filing. The company said it received the order from the Assessment Unit on January 23, 2026, at around 3:39 pm.
According to Hitachi Energy India, the tax demand is linked to disallowances related to interest on delayed receivables and group management fees.
Hitachi Energy India said it plans to challenge the order and will file an appeal before the Income-tax Appellate Tribunal (ITAT) within the allowed time period. “The company will file necessary appeal with the Income Tax Appellate Tribunal (ITAT) in this regard within the permissible timeline,” it noted.
Meanwhile, the company reported strong financial performance for the quarter ended September 30, 2025.
Its net profit jumped more than five times to Rs 264 crore, compared to Rs 52 crore in the same quarter last financial year.
Revenue for the quarter rose 18 per cent year-on-year (YoY) to Rs 1,832.5 crore. Earnings before interest, tax, depreciation, and amortisation (EBITDA) more than doubled to Rs 299.3 crore from Rs 108.8 crore a year ago.
The EBITDA margin also improved sharply to 16.3 per cent, compared to 7 per cent in the same period last financial year.
On the stock market, shares of Hitachi Energy India Limited closed at Rs 16,504.10 on the BSE, falling Rs 357.40, or 2.12 per cent, for the day.