HPL Electric & Power Ltd, in a release, said that its order book, as of August 7, 2026, surpassed Rs.3,200 crore.
The release noted that this order was dominated by the Metering Systems & Services (MSS) vertical, with a share of 96 per cent. The order book provides healthy order visibility over the short to medium term, the company said.
The order book covers roughly three years of MSS segment revenue at the current run rate, providing visibility through a maturing industry cycle.
“The smart metering market is progressively moving towards a more mature execution phase, with quarterly revenue influenced by AMISP procurement and dispatch schedules. HPL continues to view the segment as a long-duration opportunity, supported by its manufacturing scale, technology capabilities, established utility relationships and execution track record,” the company release noted.
Revenue of the MSS division grew by 16.53 per cent, year-on-year, to reach Rs.237.65 crore in Q1FY27. The sector has matured from a high-growth, policy-uncertain phase into a stable growth trajectory, with the structural long-term opportunity intact, the company observed.
Featured photograph (source: HPL Electric & Power Ltd) showing HPL Electric’s smart meter testing facility is for representation only