Shares of this electrical equipment manufacturing company clocked 10 percent upper circuit after receiving an order worth Rs. 545 crores from various customers. The shares have delivered a multi-bagger return of 118 percent to its shareholders in just 6 months.
With a market capitalization of Rs. 1,419 crores, the shares of HPL Electric and Power Ltd started Wednesday’s trading positively at Rs. 201 compared to its previous close of Rs. 200.85. During trading hours, the share hit a 10 percent upper circuit at Rs. 220.90 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing mentioned that it had won smart meter orders worth Rs. 545 crores from various prestigious customers in the normal course of business.
On this occasion, Mr. Gautam Seth, Joint Managing Director of HPL, said “The receipt of these orders reflects our alignment with the ongoing efforts to implement smart meters nationwide. While understanding that this is just one more step in a much broader initiative, it highlights HPL’s significant role in this sector. Our high acceptability in terms of performance and quality with leading AMISPs demonstrates HPL’s strong positioning in the smart meter market.”
Coming onto the company’s financial statements, the revenue increased by 9 percent from Rs. 321 crores during the June quarter to Rs. 350 crores in the September quarter. In addition, the net profit magnified by 57 percent from Rs. 7 crores to Rs. 11 crores during the same timeframe.
As of November 2023, the company’s order book stood at Rs. 2000 crores plus, in which 85 percent of the order book was contributed by Meter and Systems, and the Consumer and Industrial segment contributed 15 percent of the current order book.
Headquartered in New Delhi, HPL Electric and Power Ltd was incorporated in 1992. The company is the largest manufacturer of on-load change-over switches with a 50 percent market share in the country. Moreover, they have a significant presence across five key product verticals of electric equipment – metering solutions, modular switches, switchgear, LED lighting and wires.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
