HPL Electric & Power Ltd will continue to remain focused on executing smart metering projects under the AMISP (advanced metering infrastructure service provider) framework, noted the company’s Joint Managing Director, Gautam Seth.
In a press release discussing the company’s performance in Q1FY26, Gautam Seth said, “On the metering front, we intend to convert the smart metering opportunity with an order pipeline currently at more than Rs.3,000 crore, remain focused on execution under the AMISP framework, and continue selective cost optimisation and strategic investments to sustain profitability and further strengthen our balance sheet.”
According to an investor presentation, HPL Electric’s smart metering order book stood at over Rs.3,000 crore, as of August 11, 2025, providing healthy revenue visibility for the upcoming quarters. Around 99 per cent of this order book related to smart meters, the company said.
Meanwhile, in Q1FY26, the company’s revenues from the Metering, Systems & Services (MSS) division declined 7.62 per cent to Rs.217.87 crore from Rs.235.85 crore in Q1FY25. This decline was largely due to lower execution and delayed dispatch clearances in certain large projects, leading to higher inventory levels pending inspection — a situation that is expected to normalize, the release said.
HPL Electric also said that despite experiencing a slight slowdown in installation and offtake by AMISPs due to the monsoon season, the metering segment is expected to perform well in H1FY26, with strong inspections and inquiries in the pipeline.
Capacity extension for smart meter manufacturing, including component manufacturing, has been enhanced, the company said. HPL Electric & Power Ltd has annual manufacturing capacity of 11 million electronic meters that is spread over the company’s facilities at Gurugram (Haryana) and Jabli in Himachal Pradesh. Besides, HPL Electric manufactures components for electronic meters at its Kundli facility in Haryana.
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Featured photograph (source: HPL Electric & Power Ltd) is for representation only