HPL Electric & Power Ltd
HPL Electric & Power Q1 FY26: Order Book ₹3,000 Cr
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Metering business expected to remain the biggest growth driver with an order book over ₹3,000 crore, supporting steady visibility and growth momentum (Page 16). Expecting strong medium- to long-term growth mainly driven by the metering business with a 5–10 year horizon.
From HPL Electric & Power Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Metering business expected to remain the biggest growth driver with an order book over ₹3,000 crore, supporting steady visibility and growth momentum (Page 16).
- Smart meter volumes to grow steadily; capacity is about 1 million meters per month, enabling significant expansion (Page 10).
- Consumer & Industrial (C&I) segment projected to cross ₹1,000 crore in revenues by FY28, indicating strong growth in wires, cables, switchgear, lighting, and new product lines like fans (Page 9).
- Wires and cables segment has achieved ~25% annual growth over 2.5 years, expected to continue expanding product range and markets including Africa (Pages 8-10).
2 more points management made on revenue & sales performance
Profitability & Margins
See what HPL Electric & Power Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- HPL has made recent investments in R&D and automation, including a new R&D center at Kundli focused on switchgear and lighting.
- Automation upgrades in metering production lines (fully/semi-automated) are underway to improve efficiency and accuracy.
- A new large automated production line for MCBs is expected by end of Q3, enhancing efficiency and precision.
- The company is focusing on backward integration for critical smart metering components, expanding in-house manufacturing.
- Expansion plans include broadening the wire and cables portfolio into LT power cables to strengthen presence in African and other export markets.
2 more points management made on capital expenditure plans
Top-ranked in Industrial Manufacturing
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what HPL Electric & Power Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current smart meter order book is over ₹3,000 crore as of August 13, 2025.
- Earlier, on May 22, 2025, order book was over ₹3,500 crore, implying deliveries worth around ₹250+ crore executed in Q2 so far.
- Significant pipeline of pending orders exists, driven by allocation from AMISPs following state-level tenders.
- Around 17 crore smart meter orders have been issued against a target of 25 crore; 8 crore meters yet to be allocated to AMISPs.
- Discussions ongoing with new AMISPs not previously sourcing from HPL, indicating fresh business opportunities.
2 more points management made on order book & pipeline
HPL Electric & Power Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹520 Cr, net profit ₹31 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What HPL Electric's management said in earlier quarters
Others in Industrial Manufacturing this season
- Dynamatic Technologies Ltd (Q1 FY26)
3,709.3 million, up 7.1% YoY from Rs. Key concall takeaways from Dynamatic Technologies Ltd's Q1 FY26 earnings call — and how it ranks against sector peers.
- Mazagon Dock Shipbuilders Ltd (Q1 FY26)
Revenue from Operations (Consolidated): ₹2,626 Cr in Q1 FY 2025-26, down from ₹2,828 Cr in Q1 FY 2024-25 (approx. Key concall takeaways from Mazagon Dock…
- Sunita Tools Ltd (Q1 FY26)
EBITDA margin and PAT margin show improving trends, with EBITDA at 28-30% in FY26 rising to 30-34% in FY28, and PAT from 16-17% to 18-20%. Key concall…
- Mamata Machinery Ltd (Q1 FY26)
Q1FY26 Revenue from Operations:** ₹382 million, up 38% YoY from ₹276 million in Q1FY25 (Page 6). Key concall takeaways from Mamata Machinery Ltd's Q1 FY26…
Frequently Asked Questions
What were HPL Electric & Power Ltd Q1 FY26 results?
Metering business expected to remain the biggest growth driver with an order book over ₹3,000 crore, supporting steady visibility and growth momentum (Page 16). Expecting strong medium- to long-term growth mainly driven by the metering business with a 5–10 year horizon.
What is HPL Electric & Power Ltd share price analysis?
HPL Electric & Power Ltd currently shows a neutral. The stock trades at a P/E of 21.4 with a market cap of ₹2,041 Cr. Investors should review the full earnings analysis for detailed insights.
Is HPL Electric & Power Ltd planning capital expenditure?
HPL has made recent investments in R&D and automation, including a new R&D center at Kundli focused on switchgear and lighting.
Keep HPL Electric & Power Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.