HPL Electric & Power Ltd is bullish on opportunities in the smart metering space, according to the company’s Joint Managing Director, Gautam Seth.
The diversified electrical equipment company, while announcing its financial results for Q3 (October to December) of FY21, noted that revenues for the period stood at Rs.244 crore and that the B2C segment continued its robust growth recording a 25 per cent year-on-year increase in Q3 of FY21.
Gautam Seth added, “Looking beyond the short-term challenges in meter segment, we are bullish about the opportunities in the smart metering space as both the public and private power distribution companies increasingly shift focus towards installing smart meters to replace conventional meters. We are very much focused on enhancing our smart meter technological base and become the market leader in the segment. We are expecting a large- scale requirement for smart metering solutions in the coming years and are fully capable and ready to meet the requirement of the industry with our best-in-class metering solutions. Overall, the company is confident of overcoming near-term challenges and creating sustainable value for its stakeholder.”
The enquiry base or metering tenders was at a “healthy level”, HPL Electric & Power said, adding that tenders amounting to around Rs.2,500 crore have been floated or are expected to be, in the near term.
Order book
HPL Electric’s consolidated order book, as of December 31, 2021, stood at Rs.354.4 crore. A large portion—around 70 per cent—of this was accounted for by energy meters. The lighting segment had a share of 24 per cent. The remaining was taken up by the switchgear and wire & cable segment.
