HPL Electric & Power Ltd
HPL Electric & Power Q2 FY26: Revenue ₹2,000 Cr
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Strong double-digit growth expected in Consumer & Industrial (C&I) segment, with wires and cables growing ~25–30% recently. Consumer & Industrial (C&I) segment aims to double in the next 3 years with strong double-digit growth, supported by wires, cables, switchgear, lighting, and fan products.
From HPL Electric & Power Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Strong double-digit growth expected in Consumer & Industrial (C&I) segment, with wires and cables growing ~25–30% recently.
- Aim to double the C&I business over the next 2–3 years, supported by channel expansion and brand investments.
- Smart metering segment has a strong medium- to long-term growth story with confirmed order books and healthy inquiry pipelines.
- Industry-wide smart meter execution expected to accelerate over the next 2–3 years, with potential to reach 20+ crore meters installed by 2028.
- H2 FY26 projected to be stronger than H1, with Q3 improving over Q2 and Q4 being execution-heavy for smart meters.
- Both metering and C&I segments expected to contribute equally to growth over the next 3–5 years.
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
- Capex has been incurred in the first half of the year, primarily for smart switchgear development and selective enhancement of metering production.
- Medium-term capacities, especially for metering, are mostly set, with major capex largely completed.
- From FY27 onwards, capex is expected to be mainly for maintenance rather than expansion.
- The company plans to continue selective investments in brand, products, and capabilities to sustain growth.
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 unexecuted order book for smart meters is around ₹3,300 crore. (Page 23)
- Order book is well spread across AMISPs, with no single state contributing a material majority. (Page 15)
- Orders are generally structured over 2.5–3 years, with many deliveries scheduled for FY27 and FY28. (Page 24)
- Confirmed schedules received from AMISPs indicate strong order flow, although some deliveries experienced short-term postponements. (Pages 17, 26)
- Additional incremental orders are coming in beyond the current ₹3,300 crore order book, although some are not publicly disclosed due to business reasons. (Page 6)
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.
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What HPL Electric's management said in earlier quarters
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Frequently Asked Questions
What were HPL Electric & Power Ltd Q2 FY26 results?
Strong double-digit growth expected in Consumer & Industrial (C&I) segment, with wires and cables growing ~25–30% recently. Consumer & Industrial (C&I) segment aims to double in the next 3 years with strong double-digit growth, supported by wires, cables, switchgear, lighting, and fan products.
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?
Capex has been incurred in the first half of the year, primarily for smart switchgear development and selective enhancement of metering production.
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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.