HPL Electric & Power Wins Rs 1.44-billion Order; Shares Climb

17 Sep 2024 CW Team

Shares of HPL Electric & Power increased by up to 2.4 percent. This rise followed the company’s announcement of securing an order worth Rs 1.44 billion.

According to an exchange filing, HPL Electric & Power disclosed that it had received Work Orders/Letter of Award amounting to Rs 1.43 billion from its regular leading customers. The order pertains to the supply of Smart Meters and Conventional Meters, which will be executed in accordance with the terms and conditions specified in the Letter of Award and work orders.

HPL Electric & Power, a prominent manufacturer of electrical equipment, has established a significant presence over the past 40 years across five key product areas: metering solutions, modular switches, switchgears, LED lighting, and wires and cables. The company holds a dominant market position, commanding a 50 per cent share in the on-load change-over switches market and 20 per cent in the domestic electric meters market, while also being a major player in the low-voltage switchgear and LED sectors. With seven manufacturing facilities and two research and development centres in India, HPL supports its operations through a well-organized supply chain and a distribution network comprising over 900 dealers and 45,000 retailers. The company aims to expand this network to 100,000 retailers by March 2025.

HPL’s international operations extend to more than 42 countries across Asia, Africa, Europe, the UK, and the Indian Subcontinent. The company boasts a strong order book valued at over Rs 15 billion, with the majority of contributions coming from metering and systems.

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