HPL Electric & Power Ltd received INR 903 Crore Smart Meter Orders

HPL Electric & Power Ltd. (HPL), a leading provider of electrical equipment and solutions, announces the successful acquisition of INR 903 crores (inclusive of Tax) smart meter orders. These orders further bolsters HPL's total pending pipeline order book, now totaling INR 2250+ crores as of the date of this release.

These significant smart meter orders underscore HPL Electric & Power Ltd.'s commitment to innovation and reinforces its role in India's mass smart-meter adoption. The company's dedication to research and development enables the delivery of technologically complex solutions that cater specifically to the Indian market.

HPL Electric & Power Ltd.'s smart meters excel in accuracy and in features such as real-time remote data monitoring. By empowering consumers and utilities to optimize energy usage, these smart meters contribute to a greener and more sustainable future. The Company's range of smart metering solutions, supported by an efficient after-sales service network, has garnered significant recognition within the industry.

"We are delighted to secure these additional prestigious smart meter orders, achieving another milestone in our efforts to be at the forefront of India's smart-meter implementation," said Mr. Gautam Seth, Joint Managing Director & CFO, HPL Electric & Power Ltd. "Our smart meters can significantly enhance demand-side energy efficiency by providing real-time data on energy consumption to both consumers and energy providers. They enable consumers to monitor and adjust their usage habits to off-peak hours, reducing strain on the grid, and allow for the implementation of dynamic pricing strategies that can incentivize energy conservation."

With this latest achievement, HPL Electric & Power Ltd. further solidifies its leadership position in the smart metering segment.

Shares of HPL Electric & Power Limited was last trading in BSE at Rs. 129.50 as compared to the previous close of Rs. 131.28. The total number of shares traded during the day was 22969 in over 813 trades.

The stock hit an intraday high of Rs. 133.15 and intraday low of 128.85. The net turnover during the day was Rs. 3003237.00.

Source : Equity Bulls

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