The shares of one of the leading electrical equipment manufacturers in India, with a formidable presence across five key verticals, jumped upto 9 percent upon receiving a new order worth Rs. 369.90 crores.
Price action
With a market capitalization of Rs. 2,475.57 crores on Thursday, the shares of HPL Electric & Power Ltd jumped upto 9.4 percent making a high of Rs. 404.00 per share compared to its previous closing price of Rs. 369.25 per share.
What Happened
HPL Electric & Power Ltd, engaged in manufacturing electrical equipment with a formidable presence across five key verticals, has received a new work order from its regular leading Customers for supplying of Smart Meters in the normal course of business for a consideration of Rs. Rs. 369.90 Crores.
About the company
HPL Electric & Power Limited is India’s leading electric equipment manufacturer with a formidable presence across five key verticals: Metering Solutions, switchgear, LED Lighting, Wires & Cables, Solar Solutions, and Modular Switches. The company’s backward (backend) integrated facilities have the capabilities of product design and development, component designing, tool manufacturing, and commercial production.
Market Leader
The company holds a 50 percent market share in on-load switches, a 20 percent share in electric meters, a 5 percent share in switchgear, and is also the fifth-largest manufacturer of LEDs.
Segment Revenue
In Q3 FY24, the company’s revenue was split into two segments: 59 percent from Metering, Systems & Services, and 41 percent from Consumer, Industrial & Services. By Q3 FY25, the share distribution shifted to 66 percent from Metering, Systems & Services, and 34 percent from Consumer, Industrial & Services.
Financials
The company’s revenue rose by 7.45 percent from Rs. 366.14 crore to Rs. 393.43 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 11.94 crores to Rs. 18.08 crore during the same period.
Written by Sridhar J
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