About Hitachi Hi-Rel Power Electronics Private Limited
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Hitachi Hi-Rel Power Electronics Private Limited is a private limited company based in Ahmedabad, Gujarat, India, a subsidiary of Hitachi India Private Limited. It operates in the power equipment manufacturers segment of the energy and power sector. It was incorporated on 16 January 1990 and has been in existence for over 36 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U72200GJ1990PTC013246. Its GSTIN is 24AAACH3875M1ZB (Gujarat). The company holds 9 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹8.5 Cr and a paid-up capital of ₹7.15 Cr. It was formerly known as Hi-Rel Electronics Limited and Hi-Rel Electronics Private Limited. It is led by directors including Darshan Shah Arvindbhai (Managing Director) and Toshio Kurihara.
Its last annual general meeting (AGM) was held on 06 June 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at B/52 5th Floor Corporate – House Nr Judges Bunglows Bodakdev, Ahmedabad, Gujarat, India – 380054.
As per the financials filed for FY 2026, the company reported a revenue of ₹762.95 Cr, a growth of 7% compared to the previous year. For the same year it recorded a net profit of ₹64.16 Cr (net margin 8.4%) and EBITDA of ₹98 Cr (EBITDA margin 12.8%). Revenue has grown at a compounded annual rate (CAGR) of 18% over three years and 17% over five years.
The company is associated with 2 brands: Hitachi Hi-Rel and Hi-Rel Electronics. As per MCA filings, the company has satisfied charges of ₹302.88 Cr on record. Court records list 36 cases involving the company, including 26 filed by the company and 10 filed against it; 10 cases are pending. The company has 12 deals on record (5 funding rounds, 5 secondary share transfers, 2 acquisitions), with disclosed funding of ₹123.43 Cr; the latest was in November 2019. Its 5 peer companies in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 3 larger and 2 smaller; the largest is Solex Energy Limited with revenue of ₹663.64 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hitachi-hirel.com.
Company details
Name history
Hitachi Hi-Rel Power Electronics has undergone 4 name changes throughout its history. The current legal name is Hitachi Hi-Rel Power Electronics Private Limited.
| Company Name | Status |
|---|---|
| Hitachi Hi-Rel Power Electronics Private Limited | Current |
| Hi-Rel Electronics Limited | Previous |
| Hi-Rel Electronics Private Limited | Previous |
| Hi-Rel Electronics Limited | Previous |
| Hi-Rel Controls Private Limited | Previous |
CIN history
Hitachi Hi-Rel Power Electronics has one previous CIN (Corporate Identification Number): U72200GJ1990PLC013246. The current CIN is U72200GJ1990PTC013246, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72200GJ1990PTC013246 | Current |
| U72200GJ1990PLC013246 | Previous |
Contact details
Hitachi Hi-Rel Power Electronics Private Limited's registered office is in Ahmedabad, Gujarat. Its website is hitachi-hirel.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressB/52 5th Floor Corporate – House Nr Judges Bunglows Bodakdev, Ahmedabad, Gujarat, India – 380054
- IndustryEnergy and Power, Power Equipment Manufacturers
To see the full contact details of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Hitachi Hi-Rel Power Electronics operates two associated brands: Hitachi Hi-Rel and Hi-Rel Electronics. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Power electronics are manufactured for industrial and railway applications. | hitachi-hirel.com | |
| Electronic components including UPS and solar inverters are manufactured. | hirel.net |
Business activity
The main business activity of Hitachi Hi-Rel Power Electronics is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Financials of Hitachi Hi-Rel Power Electronics Private Limited
FY 2025 filings availableHitachi Hi-Rel Power Electronics Private Limited reported revenue of ₹762.95 Cr (up 7% YoY) for FY 2026.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 17% over five years, including 7% growth in the latest year. EBITDA fell 10% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
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| EBITDA | ₹98 Cr | ||||
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| Net Profit (PAT) | ₹64.16 Cr | ||||
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Financial Ratios
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 12.8% | ||||
| Net Profit Margin | 8.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Board of directors of Hitachi Hi-Rel Power Electronics Private Limited
Hitachi Hi-Rel Power Electronics has 7 current directors and 40 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Toshio Kurihara | Director | 05 Jun 2023 | 3 Years 4 Months | Current |
| Katsumi Kikkawa Also directs: Hitachi India Private Limited | Director | 05 Jun 2024 | 2 Years 4 Months | Current |
| Darshan Shah Arvindbhai | Managing Director | 12 Feb 1996 | 30 Years 8 Months | Current |
| Hiroaki Miyata | Director | 06 Jun 2022 | 4 Years 4 Months | Current |
| Kazuhiro Imaie | Director | 01 Apr 2016 | 10 Years 6 Months | Current |
| Yoshitaka Yoshinari | Director | 06 Jun 2025 | 1 Years 4 Months | Current |
Peer comparison
Hitachi Hi-Rel Power Electronics Private Limited is compared with the 5 companies closest to it by revenue in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Hitachi Hi-Rel Power Electronics Private Limitedthis company | ₹762.95 Cr (FY 2026) | ₹64.16 Cr | 8.4% | 7.0% | Ahmedabad, Gujarat, India | |
| Solex Energy Limited | ₹663.64 Cr (FY 2025) | 80.0% | Surat, Gujarat, India | |||
| Hind Rectifiers Limited | ₹656.85 Cr (FY 2025) | 27.0% | Mumbai, Maharashtra, India | |||
| Indo-Tech Transformers Limited | ₹628.22 Cr (FY 2025) | 23.0% | Kancheepuram, Tamil Nadu, India | |||
| Karad Projects and Motors Limited | ₹592.81 Cr (FY 2025) | 12.0% | Pune, Maharashtra, India | |||
| C.T.R. Manufacturing Industries Private Limited | ₹559.15 Cr (FY 2025) | 13.0% | Pune, Maharashtra, India |
To see the full peer comparison of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Auditor
Hitachi Hi-Rel Power Electronics Private Limited is audited by L. L. Senghani & Associates for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| L. L. Senghani & Associates | FY 2024 | 109396W |
Shareholding
The shareholding of Hitachi Hi-Rel Power Electronics Private Limited is on record for 5 financial years, the latest being FY 2025, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Dec 2016 | 100068633 | Others | ₹25 Cr | Satisfied | |
| 22 Mar 2013 | 10413517 | The Bank of Tokyo-Mitsubishi Ufj Ltd. | ₹17.76 Cr | Satisfied | |
| 19 Mar 2013 | 10413494 | The Bank of Tokyo - Mitsubishi Ufj Ltd. | ₹17.76 Cr | Satisfied | |
| 03 Aug 2012 | 10369574 | The Bank of Tokyo - Mitsubishi Ufj Ltd. | ₹15.5 Cr | Satisfied | |
| 16 May 2012 | 10357254 | Icici Bank Limited | ₹2 Cr | Satisfied |
To see the full charge records of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Total charge records: 26 View all charges
Deals & funding
Hitachi Hi-Rel Power Electronics Private Limited has 12 deals on record (5 funding rounds, 5 secondary share transfers, 2 acquisitions), with disclosed funding of ₹123.43 Cr; the latest was in November 2019.
Deals on record (5 of 12)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2019 | Secondary share transfer | Undisclosed | Buyer: Hitachi Industrial Products Ltd., Japan Seller: Hitachi Ltd |
| Feb 2019 | Funding round | ₹79.96 Cr | Investors: Hitachi Ltd |
| Mar 2016 | Secondary share transfer | Undisclosed | Buyer: Hitachi Ltd Seller: 4 individuals |
| Jun 2012 | Secondary share transfer | Undisclosed | Buyer: Hitachi India Private Limited, 3 individuals Seller: 4 individuals |
| Oct 2011 | Funding round | ₹22.1 Lakh | Investors: 4 individuals |
To see the full deal history of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Hitachi Hi-Rel Power Electronics Private Limited has 36 court cases on record: 26 filed by Hitachi Hi-Rel Power Electronics, 10 filed against it. 10 cases are pending and 26 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 21 | 5 | 4 |
| High courts | 14 | 4 | 6 |
| Supreme Court | 1 | 1 | 0 |
Cases on record (5 of 36)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Kamrup Metro, Assam | Civil suit | Filed against the company by Better Power Services Pvt. Ltd. | Pending |
| High Court, GUJARAT | Special civil application | Filed by the company against , Ahmedabad and 2 others | Disposed |
| District court, Ahmedabad, Gujarat | Court case (SMST R) | Filed by the company against M/S. Akai Impex Ltd. and 5 others | Disposed |
| District court, Ahmedabad, Gujarat | Court case (SMST S) | Filed by the company against Visen Industries Ltd | Disposed |
| District court, Ahmedabad, Gujarat | Court case (CS CCC) | Filed by the company against Ms.Akai Impex Ltd. and 5 others | Disposed |
To see the full case history of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Hitachi Hi-Rel Power Electronics Private Limited was last rated by Crisil on 09 Sep 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 09 Sep 2020 |
To see the full credit ratings and regulatory alerts of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Hitachi Hi-Rel Power Electronics Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Hitachi Hi-Rel Power Electronics has 9 GST registrations: 1 active and 8 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AAACH3875M1ZB | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Hitachi Hi-Rel Power Electronics Private Limited, buy the company report.
Recent activity
Hitachi Hi-Rel Power Electronics Private Limited has 47 board changes on record since 1996: 8 appointments and 39 cessations. The latest: Yoshitaka Yoshinari was appointed as Director on 06 Jun 2025.
104 earlier events are in the company report.
Frequently asked questions
Hitachi Hi-Rel Power Electronics is an active private limited company based in Ahmedabad, Gujarat, India. The company works in power equipment manufacturers, within the energy and power industry. It was incorporated on 16 January 1990 (36+ years old) and is registered under CIN U72200GJ1990PTC013246.
Hitachi Hi-Rel Power Electronics has 7 current directors:
- Darshan Shah Arvindbhai - Managing Director
- Toshio Kurihara - Director
- Katsumi Kikkawa - Director
- Hiroaki Miyata - Director
- Kazuhiro Imaie - Director
- Yoshitaka Yoshinari - Director
- Yuichiro Amano - Director
The latest financial statements of Hitachi Hi-Rel Power Electronics on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 06 June 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Hitachi Hi-Rel Power Electronics is 24AAACH3875M1ZB, registered in Gujarat. The company has 9 GST registrations in all, of which 1 is active and 8 are cancelled or inactive.
The CIN (Corporate Identification Number) of Hitachi Hi-Rel Power Electronics is U72200GJ1990PTC013246. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Hitachi Hi-Rel Power Electronics has 36 court cases on record: 26 filed by the company and 10 filed against it. 10 are pending. Most are in the district courts.
Hitachi Hi-Rel Power Electronics was incorporated on 16 January 1990, making it 36+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Hitachi Hi-Rel Power Electronics has 12 deals on record (5 funding rounds, 5 secondary share transfers, 2 acquisitions), with disclosed funding of ₹123.43 Cr; the latest was in November 2019.
The peers of Hitachi Hi-Rel Power Electronics by revenue are Solex Energy Limited, Hind Rectifiers Limited, Indo-Tech Transformers Limited, Karad Projects and Motors Limited, C.T.R. Manufacturing Industries Private Limited, all in the Power industry (Power Equipment Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Yoshitaka Yoshinari was appointed as Director on 06 Jun 2025. Yoshitaka Yoshinari ceased to be Additional Director on 06 Jun 2025. Yuichiro Amano was appointed as Director on 06 Jun 2025. Hitachi Hi-Rel Power Electronics has 47 board changes on record in total.
Hitachi Hi-Rel Power Electronics can be reached through the website hitachi-hirel.com. Its registered office is in Ahmedabad, Gujarat, India.