Powering Ahead: HPL Electric Secures ₹920 Crore Order After Value Revision

Image Source : The Hindu Business Line

HPL Electric & Power Ltd has received a revised order worth ₹920 million for smart meters and electrical equipment, up from ₹657.2 million. The contract, part of a government distribution reform scheme, boosts HPL’s order book and reinforces its role in India’s smart metering and power infrastructure expansion.

HPL Electric & Power Ltd has announced a major boost to its order book with the receipt of a revised contract valued at ₹920 million (₹92 crore), up from the initial ₹657.2 million. The order pertains to the supply of smart metering solutions and electrical equipment for a government-backed infrastructure initiative.

Order Highlights

- The original order of ₹657.2 million was amended following expanded scope and additional procurement requirements

- The revised ₹920 million contract includes smart meters, switchgear, and associated electrical components for deployment across multiple states

- The order was placed by a public sector utility under the Revamped Distribution Sector Scheme (RDSS), aimed at improving power distribution efficiency

- HPL will execute the order over the next three quarters, with phased deliveries beginning in November 2025

- The company confirmed that the contract includes installation, testing, and post-delivery support services

Strategic Significance

- The order strengthens HPL’s position in India’s smart metering ecosystem, which is expected to grow rapidly under the RDSS and Smart Cities Mission

- It reflects the company’s ability to scale operations and meet evolving technical standards for government-led electrification projects

- HPL’s smart meters are equipped with remote monitoring, tamper alerts, and real-time data transmission capabilities, aligning with DISCOM digitization goals

Performance Snapshot

- HPL Electric reported a 17% year-on-year increase in revenue for Q2 FY26, driven by strong demand in metering and lighting segments

- The company’s EBITDA margin improved to 11.2%, supported by operational efficiencies and product mix optimization

- With this revised order, HPL’s total order book crosses ₹1,200 crore, ensuring robust visibility for the next fiscal year

Outlook

- Analysts expect continued momentum for HPL as utilities accelerate smart meter rollouts under central and state schemes

- The company’s focus on R&D and backward integration positions it well to meet future demand for advanced metering infrastructure

- HPL is also exploring export opportunities in Southeast Asia and Africa, leveraging its manufacturing scale and product certifications

Sources: BSE Filings, HPL Electric Investor Desk, Power Sector India News

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