HPL Electric & Power Limited reported its highest-ever first-quarter revenue of ₹515.24 crore for Q1 FY27, marking a 34.52% year-on-year increase from ₹383.03 crore in the same quarter last year. The company said growth was supported by strong performance in its Consumer & Industrial business and continued demand for smart metering solutions.
Revenue also remained above ₹500 crore recorded in the previous quarter, despite the first quarter generally witnessing seasonal variations. The Consumer & Industrial (C&I) segment emerged as a major growth driver, with revenue rising 55% year-on-year to a record ₹277.59 crore from ₹179.09 crore in Q1 FY26. The segment contributed around 54% of consolidated revenue during the quarter, compared with 47% a year earlier.
Growth was broad-based across key product categories. Wires & Cables revenue increased 78.6% year-on-year to ₹145.75 crore, while Lighting & Electronics revenue rose 78.1% to ₹56.19 crore. Industrial Switchgear revenue grew 19%, while Domestic Switchgear revenue increased 6.9%.
Revenue from Metering, Systems & Services stood at ₹237.65 crore, up 16.53% year-on-year from ₹203.94 crore. The segment continues to benefit from demand for smart meters, although quarterly performance remains linked to AMISP procurement and project execution schedules. HPL’s order book stood at more than ₹3,200 crore as of August 7, 2026, with over 96% of the order book coming from the Metering, Systems & Services business. The company said the order book provides visibility for future execution.
EBITDA increased 8.94% year-on-year to ₹63.18 crore, while profit after tax rose 1.15% to ₹18.69 crore. Finance costs declined 2.32% to ₹22.08 crore. However, EBITDA margin fell to 12.26% from 15.14% in Q1 FY26 due to fluctuations in metal and industrial plastic prices, geopolitical pressures and changes in the revenue mix. HPL said pricing and product-mix measures are being implemented to improve margins.
Gautam Seth, Joint Managing Director and CFO, HPL Electric & Power Limited, said the quarter reflected stronger growth across both business platforms. He added that the company remains focused on improving margins, strengthening execution and converting capacity investments into sustainable growth.
HPL Electric & Power manufactures electrical products across metering and systems, switchgear, wires and cables, lighting and fans. The company operates seven manufacturing facilities and has a pan-India distribution network of more than 900 authorised dealers and 85,000 retailers. Its two R&D centres support product development across its business segments.
