HPL Electric & Power Ltd
NSE:HPL

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HPL Electric & Power Ltd Logo
HPL Electric & Power Ltd
NSE:HPL
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Price: 390.75 INR -0.69% Market Closed
Market Cap: 25.1B INR

HPL Electric & Power Ltd
Investor Relations

HPL Electric & Power Ltd. engages in the manufacture of electrical equipment. The company is headquartered in Noida, Uttar Pradesh. The company went IPO on 2016-10-04. The firm is engaged in manufacturing of electrical and power distribution equipment. The firm operates in four segments: Metering, Switchgears, Lighting, and Wires & Cables. The company offers a range of products from Industrial and Domestic Circuit Protection Switchgears, Cables, Energy Saving Meters, compact fluorescent lamp (CFL) & light-emitting diode (LED) Lamps, and Luminaires for Domestic, Commercial, and Industrial applications, Modular Switches covering the entire range of household, commercial and industrial electrical needs. The firm offers generation equipment, such as boilers, turbines, generators, transmission and distribution (T&D), and allied equipment such as transformers, cables, instrument transformers, insulators, insulating material, industrial electronics, indicating instruments, winding wires. The firm exports its products across south-east Asia, the Middle East, Europe, and Africa.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 18, 2025
AI Summary
Q2 2026

Revenue Mix: Consumer & Industrial (C&I) segment contributed 47% of revenue in H1, growing 30% in Q2 and 23% in H1, aided by strong Wires & Cables and a turnaround in Lighting.

Order Book Strength: The company ended the quarter with a smart meter–heavy order book of over INR 3,300 crores, giving multi-year execution visibility.

Metering Execution: Smart meter offtake improved 12% sequentially in Q2; management expects significant ramp-up in deliveries and revenue growth in H2, especially Q4.

Margins: Metering segment EBIT margins rose to around 17.5% due to pricing discipline and improved product mix; C&I segment is currently at around 11% EBIT margin.

Guidance & Outlook: Management anticipates a much stronger H2 and expects to achieve close to INR 2,000 crores revenue for the year, with both Metering and C&I segments growing.

CapEx & Cash Flow: Most Metering-related CapEx is complete; future CapEx will mainly be maintenance. Working capital days improved to 125, and inventory is expected to drop in H2.

Industry Trends: Despite temporary delays in smart meter rollouts, the company sees no structural slowdown and expects national installation momentum to accelerate.

Settlement Update: The long-standing dispute with Havells has been resolved, but details are confidential and there is no change to business operations.

Key Financials
C&I Revenue Share
47%
C&I Segment Growth (Q2)
30%
C&I Segment Growth (H1)
23%
Wires & Cables Growth (Q2)
24%
Smart Metering Order Book
INR 3,300 crores
Metering EBIT Margin
17.5%
C&I EBIT Margin
11%
Debtor Days
125 days
Cumulative Smart Meters Installed (Industry)
4.5 crores
C&I Revenue Breakdown
40% Switchgears, 40% Wires & Cables, 20% Lighting
Other Earnings Calls

Management

Mr. Lalit Seth
Chairman
No Bio Available
Mr. Rishi Seth
MD & Director
No Bio Available
Mr. Gautam Seth
CFO, Joint MD & Director
No Bio Available
Ms. Praveen Seth
Senior Manager of Administration
No Bio Available
Mr. Vivek Kumar Gupta
Company Secretary & Compliance Officer
No Bio Available
Mr. C. Easwards
Senior Vice President of Marketing
No Bio Available
Mr. Girjesh Narain Sharma
Chief Vice President
No Bio Available
Mr. Sandeep Tandon
Senior Vice President of Business Development
No Bio Available
Mr. C. R. Kundu
Senior Vice President of Switchgear
No Bio Available
Mr. Prashant Tandon
Head of Commercial Division
No Bio Available

Contacts

Address
UTTAR PRADESH
Noida
Windsor Business park, B-1D, Sector 10
Contacts
+911204656300
www.hplindia.com