Up 40x in 6 yrs: Multibagger stock seen hitting Rs 40,000 mark; check fresh price targets

Mutlibagger stock to buy: More often than not, investors look for less pricey or 'cheap' stocks to buy, preferably penny stocks, to reap multibagger return from them. However, little to the surprise, price tag has nothing to with returns. It is the performance and sound fundamentals of the company which drive the rally at Dalal Street.

One such counter is Hitachi Energy India. The stock has seen a blockbuster rally from three-digits to hit five-digit levels in 2024. Interestingly, the stock has seen some upgrades from brokerage firms post its quarterly earnings, who expect it to hit Rs 40,000 mark soon. It currently is the seventh most costliest stock in terms of price, not valautions though.

Hitachi Energy share price
Shares of Hitachi Energy India settled little changed at Rs 35,620 on Thursday, commanding a market capitalization close to Rs 1.6 lakh crore. The stock has declined more than 8 per cent from its 52-week high at Rs 38,800, hit on June 1. The stock has jumped more than 120 per cent from its 52-week low hit 7 months ago in January 2026.

Hitachi Energy India shares have gained nearly 60 per cent in the last six months, while the stock is up 90 per cent in 2026 so far. The stock nearly 710 per cent in the last three years, while it has delivered a 3,850 per cent or nearly 40 times return in the last six years period.

Hitachi Energy Q1 results
Hitachi Energy India reported a 123.5 per cent jump in the net profit on a year-on-year basis to Rs 294.15 crore, while its revenue soared 68.6 per cent on a yearly comparison to Rs 2,493.69 crore for the quarter ended on June 30, 2026. The company clocked a EBITDA at 395.02 crore with margins coming in at 16 per cent for the June 2026 quarter.

The company recorded quarterly order inflows of Rs 5,096.5 crore, up 26.1 per cent on a yearly basis. The company also secured its first Battery Energy Storage System (BESS) order for a 165 MW / 330 MWh project. With the current order wins, its order backlog reached an all time high of Rs 32,222.1 crore.

Hitachi Energy share target price
HDFC Securities expects continue to expect HVDC orders to be growth-accretive and margin-dilutive and this has been incorporated into our estimates. With volume growth, we expect the positive margin trajectory to be maintained. It recalibrated EPS estimates to factor in better execution on strong inflows, marginally cut EBITDA for FY27.

"Given limited upside, we maintain ADD, with an increased target price of Rs 34,667 per share to factor in robust HVDC pipeline, new capex announcement, increasing share of exports, emergence of Indian datacentre opportunity and introduction of new products like BESS in Indian markets," it added.

Hitachi Energy posted robust results in the quarter. Gross Margins came in lower due to the product mix. Exports contribution came in at 25 per cent for the quarter. Contribution from Data Centres is significant in Q1FY27 order intake and the pipeline for the same remains healthy in the near term, said IDBI Capital.

"Order intake grew by 26 per cent YoY to Rs 5,100 crore excluding HVDC orders. We remain structurally positive on Hitachi Energy and its solid growth prospects owing to the robust momentum in electrification not only in India but also globally. We upgrade the stock to 'buy' with revised target of Rs 37,909 at 75 times FY28 expected EPS," it added.

Hitachi reported a good quarter, on both fronts - earnings and order inflows (OI). It saw revenue growth of 69 per cent YoY, while EBITDA margins expanded 410 bps YoY to 14.6 per cent – translating to 2.3 time YoY growth in EBITDA and PAT. OI was strong, despite lower expectation, led by battery storage and data centre order, said ICICI Securities.

"We expect transmission bidding of Rs 70,000–90,000 crore per annum  for the next three years. Bidding in YTDFY27 has already crossed Rs 0.4 lakh crore. The outlook is further bolstered by new transmission approvals worth Rs 0.5 lakh crore in YTD–FY27. We upgrade to 'buy' with a revised target price of Rs 40,000," it added.

HSBC expects Hitachi Energy India to win two domestic HVDC projects over FY26-29F. Utilities/industries/ transport segments are expected to log 15 per cent/32 per cent/34 per cent order inflow CAGRs over FY26-29F. Its estimate Hitachi's order backlog will expand 1.6 times to Rs 47,200 crore bn in FY29F, driving sales, EBITDA and PAT CAGRs of 38 per cent, 48 per cent and 45 per cent over FY26-29F.

"We initiate coverage of Hitachi Energy with a 'buy' rating and a target price of Rs 40,030," HSBC added citing competition from Chinese companies, delay in finalisation of HVDC orders, and counterparty risk as key risks. It has cited HVDC order win and EBITDA margin expansion as key catalysts for expansion.