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HPL Electric & Power Surges 8% on New Smart Meter Orders Worth ₹369.90 Crore

Satish Ray by Satish Ray
5 months ago
Reading Time: 2 mins read
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HPL Electric & Power Limited saw its stock jump as much as 8% on Thursday after announcing fresh orders worth ₹369.90 crore, including taxes. The orders, primarily for smart meters, come from the company’s regular clients and reinforce its stronghold in the industry.

Strong Demand Drives Fresh Orders

The latest order win reflects sustained demand for smart metering solutions. These orders will be fulfilled as per agreed terms and conditions with customers. While HPL Electric did not disclose client names, the company noted that the contracts align with its ongoing business operations.

The filing to the National Stock Exchange (NSE) and BSE Limited confirmed the deal. Investors reacted positively to the news, pushing the stock higher during the trading session.

HPL Electric stock price chart

Impressive Revenue Growth in Q3

HPL Electric reported a revenue of ₹393.43 crore for the December 2024 quarter. This marks a 7.45% year-on-year increase, highlighting steady expansion in its business segments.

  • Net profit for the quarter stood at ₹18.08 crore, reflecting a massive 51.42% rise compared to the same period last year.
  • The company’s net profit margin hit 4.60%, showing a 40.92% jump from last year, though it dipped 9.66% sequentially from the previous quarter.

These figures indicate strong year-over-year growth, despite some short-term profitability pressure.

A Closer Look at HPL Electric’s Portfolio

The company operates across multiple segments, offering a diverse range of electrical solutions:

Product SegmentKey Offerings
Metering SolutionsSmart meters, prepaid meters
SwitchgearMiniature circuit breakers (MCBs)
LED LightingStreet lights, industrial lighting
Solar SolutionsPanels, energy storage systems
Modular SwitchesHome and office solutions

The smart meter segment, in particular, has gained traction with increased adoption by utilities and industrial players.

Stock Reaction and Market Movement

By 3:15 PM, HPL Electric shares were trading 4.97% higher at ₹387.40 on the NSE, compared to the previous close of ₹369.05. The stock touched an intraday high of ₹404.70 and a low of ₹369.05.

Investor confidence in the company remains strong, backed by its recent order wins and financial performance.

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Satish Ray

Satish Ray

Satish Ray is a senior content writer with a penchant for weaving words into captivating narratives. With years of experience in crafting compelling stories across diverse industries, he excels in delivering engaging content that resonates with readers and drives results.

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