Orders for metering products dominated the outstanding order book position of HPL Electric & Power Ltd, the company said in a statement.
HPL Electric said that its consolidated order book position, as of December 31, 2021, stoo at Rs.879 crore (net of GST). Of this metering orders accounted for Rs.448 crore, or around 51 per cent.
Orders for switchgear products followed with Rs.199 crore (share: 22.6 per cent) and by wires & cables (Rs.168 crore; 19.1 per cent). Orders for lighting products accounted for the remaining 7.3 per cent.
The company statement said that the enquiry base for metering tenders was at a healthy level with tenders amounting to Rs.10,000 crore already floated or expected to be floated in the near term.
Expressing optimism on the metering business, Gautam Seth, Joint Managing Director, HPL Electric & Power, noted, “The smart meter industry has a huge opportunity under the Make in India programme. The Government has installed 37.3 lakh smart electric meters till date.
With the Centre’s funding to the states under the National Smart Grid Mission (NSGM) and IPDS, coupled with the Revamped Distribution Sector Scheme (RDSS), the installation of smart meters will gain pace in the coming quarters. The Government is rapidly making strides for installing 25 crore smart prepaid meters across the nation.”
The move will certainly benefit a seasoned player like HPL Electric. Additionally, the company has a strong pipeline of smart meters order to the tune of Rs.270 crore to be executed in the coming quarters. Backed by the technology edge, HPL Electric looks forward to win new projects from power utility companies.”
Also See: India’s march towards prepaid energy metering (A special report by T&D India)
