Smart Meter stock which is one of the leading electrical equipment manufacturers with a presence across metering solutions, modular switches, switchgear, and many others jumped 4 percent in the day’s trade after it reports a 146 percent jump in Net Profits.
Price Action
With a market capitalization of Rs. 3,920 Crores, the shares of HPL Electric & Power Limited closed at Rs. 609.65 per equity share, up 1.40 percent from its previous day’s close price of Rs. 601.25.
Q1FY25 Results
Its Revenue from Operations grew by 23 percent YoY from Rs. 320.74 Crores in Q1FY24 to Rs. 392.9 Crores in Q1FY25 and it declined by 7 percent QoQ from Rs. 424.09 Crores in Q4FY24 to Rs. 392.9 Crores in Q1FY25.
Its Net Profit grew by 146 percent YoY from Rs. 6.93 Crores in Q1FY24 to Rs. 17.03 Crores in Q1FY25 and it grew by 24 percent QoQ from Rs. 13.71 Crores in Q4FY24 to Rs. 17.03 Crores in Q1FY25.Its Net Profit Margin increased from 2.15 percent in Q1FY24 to 4.3 percent in Q1FY25.
Key Highlights
The Metering, Systems & Services segment delivered revenue growth of 35.67 percent YoY reaching Rs. 238.67 Crores in Q1FY25 up from 175.92 Crores in Q1FY24, and the Consumer, Industrial & Services segment registered a revenue growth of 6.50 percent YoY in Q1FY25 reaching Rs. 154.23 Crores up from 144.83 Crores in Q1FY24 driven by growth in wires & cables by 13 percent and domestic switchgear by 19 percent
In Q1FY25, HPL Electric & Power Limited generated 61 percent of its revenue from the Metering Systems & Services segment and 39 percent from the Consumer, Industrial, and Services segment.
The Metering, Systems & Services is set to continue as a high-growth segment with a strong execution cycle in place in line with a growing order book of Rs. 3700+ Crores as of July 30th, 2024.
About the Company
HPL Electric & Power Limited is one of the leading electrical equipment manufacturers in India, and it has a significant presence across product verticals of electric equipment like metering solutions, modular switches, switchgear, LED lighting, wires, and many others.
HPL Electric & Power Limited is a market leader in Electric Meters & On-load Change-over Switches, with a 50 percent market share in the Domestic On-load Change-over Switches Market, 20 percent market share in Domestic Electric Meters, 5 percent in Low Voltage Switchgear and it is also the 5th largest LEG Lighting Products Manufacturer.
HPL Electric & Power Limited has established a Pan-India Distribution presence with 90+ Branch & Representative offices, 900+ Authorized Dealers, and 80,000+ Retailers.
Written by: Bharath K.S
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