Stock Report

HPL Electric and Power Ltd strengthens its Smart Meter Order Pipeline with a Rs. 400+ Crore Order Win

Posted On : 2023-02-28 22:47:47( TIMEZONE : IST )

HPL Electric and Power Ltd (HPL), a leading Indian electric equipment manufacturer, today announced that it has won a smart meter order worth INR 409.10 crore from an institutional customer in west India. With this order win, HPL has further strengthened its position as a prominent smart meter solution provider in the Indian market.

HPL's leadership position in the market and the consumer's faith in its product portfolio have been key factors in winning this order, as HPL distinguished itself amongst considerable market competition. The Company currently has an order book of over Rs. 1200+ crore as of February 27, 2023.

Commenting on the order win, HPL Electric and Power Ltd.'s Joint Managing Director, Mr Gautam Seth said, "We are thrilled to have won this order, which is a testament to our market-leading position in the smart meter segment. Our robust growth story in the Indian market has been driven by our ability to be at the forefront of India's smart meter transition. We are fully equipped to cater to more large DISCOMs and service providers in the Indian market and are excited to continue growing our order books."

This order win signifies a positive outlook for HPL Electric and Power Ltd, indicating sustainability and growth in the long term. The Company's execution of orders has consistently increased during the last two quarters while being at the forefront of the government scheme rollout for smart metering. HPL's smart meter solutions have been widely recognized for their reliability and quality, and the company is well-positioned to continue leading the market in the smart meter segment.

Shares of HPL Electric & Power Limited was last trading in BSE at Rs. 85.55 as compared to the previous close of Rs. 80.55. The total number of shares traded during the day was 70259 in over 1463 trades.

The stock hit an intraday high of Rs. 88.25 and intraday low of 80.05. The net turnover during the day was Rs. 5969317.00.