The shares of India’s leading electric equipment maker rose 4.5 percent to Rs 226.95 per share after the company announced a partnership with Wirepas, a Finland-based IOT company.
At 1:05 p.m., HPL Electric & Power is a small-cap company with a market capitalization of Rs 1,428 crore. The company’s shares were trading at Rs 222.95 apiece, up 2.69 percent from the previous close price.
According to the company’s exchange filing, HPL Electric and Power Ltd have entered into a strategic partnership with Wirepas, a global leader in RF mesh technology. The partnership will enhance the company’s ability to deploy smart metering projects across India.
HPL Electric and Power Ltd recently announced smart meter orders valued under World Bank funding of Rs 416.84 crore in May 2023. The company has an order book exceeding Rs 2000 crores.
HPL Electric & Power’s share price has increased from Rs 75.15 to current values during the last year, yielding 178 percent multibagger gains. As a result, if an investor bought 1 lakh firm shares in the last year, their holding is now worth 2.78 lakhs!
The company’s revenue has increased by 8 percent year on year, from Rs 295 crore in Q1FY23 to Rs 320 crore in Q1FY24. In the same time frame, the Company’s Net profit has Marginally increased from Rs 6.32 crore to Rs 6.97 crore.
The Company’s return on equity increased from 1.01 percent in FY22 to 3.80 percent in FY23, while the return on capital employed rose from 9.71 percent to 13.88 percent during the same period.
HPL India is India’s leading manufacturer of smart power meters and smart energy metering equipment. The company holds a prominent position in five major product areas for electric equipment such as wires and cables, LED lights, switchgear, modular switches, and metering systems.
Written by Omkar Chitnis
