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.
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 Segment | Key Offerings |
|---|---|
| Metering Solutions | Smart meters, prepaid meters |
| Switchgear | Miniature circuit breakers (MCBs) |
| LED Lighting | Street lights, industrial lighting |
| Solar Solutions | Panels, energy storage systems |
| Modular Switches | Home 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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