HPL Electric & Power Ltd
HPL Q4 FY26 Results & Concall Highlights: Order Book ₹3,200 Cr
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
What the Q4 FY26 call signalled
2 of 5 strong
The short version
- C&I segment is expected to achieve around ₹1,000 crore turnover in FY27, driven by volume-led growth across wires, cables, lighting, and switchgear. - FY26 growth reinforced confidence with higher scale and improved operating quality across two growth engines: smart metering and consumer & industrial (C&I) segment. - Smart metering remains a large, technology-led opportunity with strong order book (97% of Rs.
From HPL Electric & Power Ltd's Q4 FY26 earnings-call transcript · updated 3 Jul 2026.
Revenue & Sales Performance
- C&I segment is expected to achieve around ₹1,000 crore turnover in FY27, driven by volume-led growth across wires, cables, lighting, and switchgear.
- Continued channel expansion through dealer engagement and new campaigns to broaden product basket and enhance reach.
- Smart metering segment has strong order book, with revenues expected to scale up significantly over the next 1-2 years and further over the next 4-5 years as total smart meter demand may rise to 31-32 crores.
- Water metering is a longer-term opportunity, with near-term revenues dependent on approvals and pilot projects.
- Both Smart Metering (B2B) and Consumer & Industrial (B2C) segments expected to be strong, complementary growth pillars for HPL.
- Growth supported by new product launches, technology upgrades, and R&D investments.
- Margins expected to improve as commodity price inflation eases and price increases are passed on.
- Overall, sustainable and quality growth is targeted, with enhanced operating quality and scale.
Profitability & Margins
See what HPL Electric & Power Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- In the past year, HPL Electric invested substantially in capex, primarily focused on the metering segment.
- For the current year, expected capex is mainly maintenance-oriented rather than expansion.
- No immediate plans for major new capex were indicated during the call.
- Internal studies on gas meters were conducted, but no current plans or solutions exist yet for entering that segment.
- The company is investing continuously in R&D to support product development and new solutions, especially in smart metering and consumer-industrial segments.
- Channel expansion and product launches (e.g., new lighting, switchgear, switches) are strategic focuses but not specified as large capex.
- The promoter pledge (about 2.42%) is unrelated to capex requirements.
- Overseas market expansion (Middle East, SAC countries, Africa) is a strategic priority but likely leveraged through R&D and marketing rather than heavy upfront capex.
Fundraising & Capital Structure
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Order Book & Pipeline
- HPL Electric & Power Limited currently has a confirmed order book of over ₹3,200 crore.
- There are still pending orders from AMISPs that are yet to be tendered out, estimated between ₹5,000 to ₹9,000 crore.
- The industry has tendered approximately 15 crore meters, with about 7 crore meters already installed.
- The total smart meter requirement in India is anticipated to reach around 31 to 32 crore meters over the next few years, indicating a large potential market.
- HPL is supplying to nearly all active AMISPs and remains a preferred vendor, providing strong visibility on order inflow.
- Growth and order inflow are expected to remain robust, driven by increasing installations and expanding state-level implementations despite some regional slowdowns due to elections.
How does HPL Electric & Power Ltd rank vs peers in Industrial Manufacturing?
Pro featureHPL 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 Q1 FY27 results?
- C&I segment is expected to achieve around ₹1,000 crore turnover in FY27, driven by volume-led growth across wires, cables, lighting, and switchgear. - FY26 growth reinforced confidence with higher scale and improved operating quality across two growth engines: smart metering and consumer & industrial (C&I) segment. - Smart metering remains a large, technology-led opportunity with strong order book (97% of Rs.
What is HPL Electric & Power Ltd share price analysis?
HPL Electric & Power Ltd currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 22.1 with a market cap of ₹2,233. Investors should review the full earnings analysis for detailed insights.
Is HPL Electric & Power Ltd planning capital expenditure?
- In the past year, HPL Electric invested substantially in capex, primarily focused on the metering segment.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.