HPL Electric and Power Ltd wins Rs. 161 crore Smart Meter Order

HPL Electric and Power Ltd (referred to as the "Company"; NSE Symbol: HPL, BSE Scrip Code: 540136), an established electrical equipment manufacturing company in India, has received a significant order, worth Rs.161.59 crore, for the supply of smart meters to serve a leading private DISCOM player. This win underscores the Company's dominant market position in the smart metering space, and fortifies its reputation as a strong advanced meter solutions company. Furthermore, this new order has expanded the Company's metering order book to exceed Rs. 600 crore as of 29th December 2022.

With this win, the Company has further improved its market share in the smart meter market, making it a peer vendor in a highly competitive market. This milestone order also signals sustained positive growth visibility in the coming quarters.

Commenting on this achievement, Mr. Gautam Seth, Joint Managing Director said, "This order with one of India's leading private power utility player proves our competitive capability for this exciting market opportunity, and also motivates us to intensify our aggressive stance within the marketplace. What makes it special is that this is a repeat order we have received through the merit of our strong technology, quality and a solid market track record. These attributes will further strengthen our leadership within the smart meter segment across the country. We hope to win more substantial orders in this space within the coming quarters, and look forward to being at the forefront of the national shift towards smart metering."

Shares of HPL Electric & Power Limited was last trading in BSE at Rs. 99.85 as compared to the previous close of Rs. 95.05. The total number of shares traded during the day was 98386 in over 2086 trades.

The stock hit an intraday high of Rs. 102.55 and intraday low of 95.30. The net turnover during the day was Rs. 9831390.00.

Source : Equity Bulls

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HPLElectricandPower INE495S01016 OrderWin SmartMeters