The shares of this leading electrical equipment manufacturer hit 10 percent upper circuit of Rs 344.70 apiece after the company’s net profit and revenue increased by 100 percent and 21 percent YoY, respectively in the third quarter.
With a market capitalization of Rs 2,216.44 crore, the shares of HPL Electric & Power Ltd were trading at Rs 344.70 per share, increasing around 10 percent as compared to the previous closing price of Rs 313.40 apiece.
Looking into the company’s Performance, HPL Electric & Power Ltd’s revenue increased by 4 percent on a quarter-on-quarter basis from Rs. 350 crores in Q2FY24 to Rs. 366 crores in Q3 FY24. Furthermore, revenue jumped by 21 percent yearly from Rs. 302 crores in Q3FY23 to Rs. 366 crores in Q3FY24.
HPL Electric & Power Ltd’s net profit increased by 9 percent on a quarter-on-quarter basis from Rs.11 crores in Q2FY24 to Rs. 12 crores in Q3FY24. Further, net profit increased by 100 percent yearly from Rs. 6 crores in Q3FY23 to Rs.12 crores in Q3FY24.
HPL has seven cutting-edge manufacturing facilities with capabilities in design and product development, component design, tool making, and commercial production, as well as two R&D centers housing over 100 expert engineers with extensive experience in the electrical industry and a proven track record of product innovation.
As of February 13, 2024. The firm has a large order book of over Rs 2400 crore. Smart Meters account for 87% of current meter orders, and this figure is likely to climb further. Smart meters boost income and profitability due to their higher realizations.
The stock gave a 70.73 percent return in six months and a 297.07 percent return in a year. If an investor invests Rs 1 lakh in the company would be worth Rs 2.97 lakhs in a year.
HPL Electric & Power Limited has been a renowned electrical equipment producer in India for more than 40 years. The company has a strong position in five core electric equipment product categories: metering systems, modular switches, switchgear, LED lights, and wires & cables.
Written by:- Abhishek Singh
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.
