HPL Electric & Power, a leading electrical equipment manufacturer in India, saw its shares rise by 10% on March 13, 2025, after securing a ₹370 crore smart meter order. The company expects continued demand growth in the smart metering sector, reinforcing its long-term revenue stability.
HPL Electric & Power, a leading manufacturer of electrical equipment in India, saw its shares surge 10% to ₹404.70 in intraday trading on March 13, 2025. The stock rally came after the company secured a major smart meter order worth ₹369.90 crore (inclusive of tax) from its leading customers.
In an exchange filing, HPL Electric & Power confirmed that the new order further strengthens its market position in the smart metering segment. The company specializes in manufacturing electrical products, including metering solutions, switchgear, lighting, and cables, serving both retail consumers and institutional clients.
Strong Demand for Smart Meters
With the government’s push for smart meter installation under various utility programs, HPL Electric & Power is seeing strong demand. Smart meters play a key role in power sector reforms by improving revenue collection and reducing commercial losses for utilities. Currently, 99% of the company’s metering order book is dedicated to smart meters.
As of February 10, 2025, HPL Electric & Power’s total order book stands at over ₹3,400 crore, ensuring long-term revenue stability. The company is ramping up its manufacturing capabilities to meet the increasing demand for smart meters, energy-efficient solutions, and switchgear.
Financial Performance and Stock Trends
For the third quarter of FY25 (Q3FY25), the company reported a 7.36% year-on-year increase in revenue from operations to ₹392.48 crore, while its profit after tax (PAT) surged 51.42% YoY to ₹18.09 crore.
Despite a 37% decline over the past seven months, the stock has delivered impressive long-term returns, surging 538% over the last three years and 1,655% over five years. Shareholding data for Q3FY25 shows that promoters hold a 72.7% stake in the company, while the public owns 26.5%.
With multiple smart meter tenders in the pipeline and a robust order book, HPL Electric & Power remains well-positioned for sustained growth in India’s power sector.
