Smart meter stock jumps 6% after securing ₹242 Cr supply order from multiple clients

Synopsis: Small-cap shares rose 6% after securing ₹242.24 crore smart meter orders from regular clients, including GMR Triveni, GMR Kashi, GMR Agra Smart Meters Ltd, Paschimanchal Infrastructure Pvt Ltd, and Madhyanchal One Infrastructure Pvt Ltd.

The shares of the Small-cap, specialised as a leading electrical equipment manufacturer in India, operating for many years, are in focus on the day’s trade after securing an order worth Rs. 242.24 crores for the supply of smart meters.

With a market capitalisation of Rs. 2,388.44 crore in the day’s trade, the shares of HPL Electric & Power Ltd rose 5.8 percent to hit a high of Rs. 379.00, compared to the previous close of Rs. 358.10.

What Happened

HPL Electric & Power Ltd, engaged as a leading electrical equipment manufacturer in India, operating for many years, has received work orders/notifications of award worth Rs. 242.24 crores for the supply of smart meters.

The order is from its regular customers, including GMR Triveni Smart Meters Limited, GMR Kashi Smart Meters Limited, GMR Agra Smart Meters Limited, Paschimanchal Infrastructure Private Limited, and Madhyanchal One Infrastructure Private Limited. 

Financials & Others

The company’s revenue rose by 20.75 percent from Rs. 392 crores in December 2024 to Rs. 474 crores in December 2025. Meanwhile, Net profit rose from Rs. 18 crores to Rs. 20 crores in the same period.

The company shows a healthy capital efficiency profile, with a ROCE of 14.5%, indicating it is generating decent returns from the capital employed. The ROE of 10.8% is moderate, suggesting that shareholder returns are steady but not very aggressive. A debt-to-equity ratio of 0.78 indicates moderate leverage; debt is present but still within a manageable range.

From a growth and valuation perspective, the company appears strong. A 5-year profit CAGR of 33.5% reflects robust and consistent earnings growth. The PEG ratio of 0.18 is very low, which typically suggests the stock may be undervalued relative to its growth rate.

In Q3 FY26, the company reported a total net revenue of ₹474 crore. This was driven primarily by the Metering, Systems & Services segment, which contributed ₹288 crore, while the Consumer, Industrial & Services segment added ₹186 crore to the overall revenue.

In terms of revenue share, Metering, Systems & Services accounted for 61% of total revenue, making it the dominant segment for the quarter. The remaining 39% came from Consumer, Industrial & Services, reflecting a balanced but clearly metering-led business mix.

HPL Electric & Power Ltd is an Indian electrical equipment manufacturer that produces a wide range of products used in power distribution and energy management. The company operates across segments such as metering solutions (electric meters), switchgear, wires and cables, LED lighting, and modular switches. It serves utilities, industrial customers, commercial projects, and residential users, making it a key player in India’s electrical infrastructure ecosystem.

The company focuses on energy efficiency, smart metering, and modernization of power systems, aligning with the growing demand for reliable and sustainable electricity distribution. With manufacturing facilities in India and a distribution network across domestic and international markets, HPL Electric & Power Ltd has built a presence in both conventional electrical products and newer smart energy solutions.

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