Synopsis: HPL Electric & Power Limited received a Rs. 65.72 crore smart meter order, strengthening customer ties and enhancing industry leadership.
This Small-cap Smart Meter Stock, engaged in manufacturing a diverse range of electrical products, including electronic meters, lighting equipment, switchgear, and wires & cables, jumped 8 percent after securing a work order worth Rs. 65.72 crores from its regular leading customers.
With a market capitalization of Rs. 3,115.68 crores, the share of HPL Electric & Power Limited has reached an intraday high of Rs. 504.30 per equity share, rising nearly 8.04 percent from its previous day’s close price of Rs. 466.75. Since then, the stock has retreated and is currently trading at Rs. 484.55 per equity share.
What is the news?
HPL Electric & Power Limited has secured a significant Work Order worth Rs. 65.72 crores from its regular leading customers. The order involves the supply of advanced smart meters, reinforcing the company’s strong position in the power sector.
Order Book
As of August 11, 2025, HPL Electric & Power Limited’s order book exceeds Rs. 3,000 crore, with over 99 percent of orders originating from its Metering, Systems, and Services segments. This robust order book is 1.76 times the company’s revenue for the financial year 2025, reflecting strong market demand and business stability.
Product Portfolio (Current Capacity)
HPL Electric & Power Limited offers a broad product portfolio, including electronic meters, lighting equipment, switchgear, and wires & cables. It has an annual production capacity of 11 million electronic meters, 26 million lighting units, 16 million switchgear units, and 194 million meters of wires & cables, serving both domestic and international markets efficiently.
Market Presence
The company maintains a commanding presence in multiple markets, holding a 50 percent market share in the domestic on-load change-over switches segment. It commands a 20 percent share in the domestic electric meters market and a 5 percent share in the low-voltage switchgear sector. Furthermore, it is recognized as the fifth largest manufacturer of LED lighting products.
Management Guidance
HPL Electric & Power Limited’s management anticipates growth in FY26 and beyond, driven by their diversified business model, continuous R&D efforts, and strong focus on executing their smart meter order pipeline, which currently exceeds Rs. 3,000 crore.
Company Overview
HPL Electric and Power Limited was established in 1992 and is a leading Indian electrical equipment manufacturer. It is engaged in producing metering solutions, switchgears, modular switches, LED lighting, wires, cables, and solar solutions, serving commercial, industrial, and residential markets with innovation.
Recent quarter results
Coming into financial highlights, HPL Electric & Power Limited’s revenue has decreased from Rs. 393 crore in Q1 FY25 to Rs. 383 crore in Q1 FY26, which is a drop of 2.54 percent. The net profit has grown by 5.88 percent from Rs. 17 crore in Q1 FY25 to Rs. 18 crore in Q1 FY26. HPL Electric & Power Limited’s revenue and net profit have grown at a CAGR of 11.71 percent and 33.7 percent, respectively, over the last five years.
In terms of return ratios, the company’s ROCE and ROE stand at 14.4 percent and 10.8 percent, respectively. HPL Electric & Power Limited has an earnings per share (EPS) of Rs. 14.58, and its debt-to-equity ratio is 0.70x.
Written By – Nikhil Naik
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