HPL Electric & Power Ltd has secured orders exceeding Rs. 2,000 crore for the supply of smart meters. The total value of these orders is Rs. 2,100.71 crore, including taxes. These orders will be fulfilled according to the specified terms and conditions.
HPL Electric has also signed a Memorandum of Understanding (MoU) with Guangxi Ramway Technology Co. Ltd from China. This agreement involves local manufacturing, technical collaboration, and procurement for assembling relays and latching relays in India.
In FY24, HPL Electric’s metering systems and services business contributed about 58% to the company’s total revenue, up from 53% in FY23. The revenue from this segment grew by 27.25% to Rs. 852.58 crore from Rs. 670.03 crore in FY23. As of March 31, 2024, HPL had an order book of over Rs. 2,000 crore, with 88% related to the metering business. To meet rising demand, HPL is expanding capacity and automating processes at its meter plants in Gurugram, Sonepat, and Jabli.
HPL Electric & Power is a leading Indian company specializing in electrical equipment, including metering solutions, switchgear, lighting, and wires and cables. Established with a strong focus on innovation and quality, HPL serves both the domestic and international markets.
The company is known for its advanced smart metering systems, which play a crucial role in the modern energy landscape. With a comprehensive product portfolio and robust manufacturing capabilities, HPL Electric & Power continues to drive growth through technological advancements and strategic partnerships, ensuring reliable and efficient energy solutions for its customers.
