HPL Electric & Power Delivers Strong Q1 FY25 Performance

HPL Electric & Power Ltd (HPL) has announced impressive financial results for the first quarter of FY2025, characterised by robust revenue growth and enhanced profitability.

The company witnessed a substantial 22.50% year-on-year (YoY) increase in revenue, reaching ₹392.91 crores, driven by robust performance across its Metering, Systems & Services, and Consumer, Industrial & Services segments. This growth trajectory reflects a positive market response to HPL’s product offerings.

A notable highlight is the 32.28% YoY surge in gross profit to ₹140.29 crores, translating to an improved gross margin of 35.71%. This improvement is attributed to effective cost management and value enhancement initiatives. Consequently, EBITDA soared by 40.19% YoY to ₹56.13 crores, with margins expanding to 14.29%.

HPL’s bottom line also witnessed significant growth, with profit before tax (PBT) and profit after tax (PAT) increasing by 113.40% and 145.45% YoY, respectively. This robust performance is a testament to the company’s strategic execution and operational efficiency.

The Metering, Systems & Services segment emerged as a key growth driver, contributing to a 35.67% YoY increase in revenue. HPL’s leadership in the smart metering sector, backed by a strong order book, positions the company favourably in the growing market.

The strategic alliance with Guangxi Ramway Technology Co. Ltd. further strengthens HPL’s manufacturing capabilities and aligns with the ‘Make in India’ initiative. This collaboration is expected to enhance product offerings and improve overall competitiveness.

Mr. Gautam Seth, Joint Managing Director and CFO of HPL Electric & Power Ltd, remarked, “Our Q1 FY25 results underscore our commitment to growth and innovation. As India advances in smart meter deployment, driven by continued government support through RDSS and AMISP, the demand for reliable and advanced smart metering solutions is paramount. For Q1FY25, our Metering & Systems segment has risen by 35.67% YoY to ₹238.67 crores, up from ₹175.92 crores in Q1FY24. Our strategic focus on this sector has allowed us to capitalise on emerging opportunities, showcasing our ability to deliver consistent performance.

He further added, “We are also witnessing positive growth in our channel partners and a stabilisation in our LED lighting segment in Q1FY25, reflecting in the improved performance in the Consumer segment for this quarter. Our growing order book of over ₹3700 crores provides us with greater stability and visibility for sustained revenue generation. Looking ahead, we are prepared for a new chapter of growth, with our focus remaining on high-quality execution. Our investments in R&D position us well to capture emerging opportunities as India fast-tracks to becoming the world’s third-largest economy. We are committed to delivering with consistency and excellence in this financial year.”

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