The outstanding order book of HPL Electric & Power Ltd has crossed the Rs.2,400 crore mark.
In an investor presentation, HPL Electric said that it had an order book of over Rs.2,400 crore, as of February 13, 2024.
Commenting on the company’s performance, Gautam Seth, Joint Managing Director, HPL Electric & Power, said, “The cornerstone of our success this year so far has been our agile response to the fast-transforming power sector, coupled with secular growth across our metering and consumer and industrial segments. This comprehensive growth is supported by the trust AMISPs have in our metering solutions and products. Our strategic emphasis on cost competitiveness and innovation continues to be crucial in winning and securing large orders. Our current order book, which stands at over ₹2,400 crore, is a testament to the market’s confidence in our capabilities.”
The company’s “Metering & Systems” line of business accounted for 87 per cent of the total order book with “Consumer & Industrial” representing the remaining 13 per cent. Further, smart meters accounted for 88 per cent of the order book of the “Metering & Systems” business.
Specific capacity expansion and automation measures are being undertaken in the Gurgaon, Sonipat (both Haryana), and Jabli (Himachal Pradesh) meter plants to meet rising demand, the presentation said.
The company foresees an opportunity size of Rs.60,000 crore to Rs.90,000 crore thanks to the Union power ministry’s plan of installing 25-30 crore smart prepaid meters under RDSS.
“Being a leading player with a successful track record of supplying meter”s over the last 2 decades, HPL is well positioned to capitalise on the smart meter opportunity,” the presentation said.
HPL Electric, with an installed capacity of 1.1 crore meters per year, commands a market share of around 20 per cent in the domestic meters market, the company said. Its product portfolio includes conventional meters as well as smart meters (including prepaid meters, and those driven by communication software).
Also read: HPL Electric Wins Rs.545-Crore Smart Meter Orders
