The outstanding order book of HPL Electric & Power Ltd has crossed Rs.3,500 crore.
In an investor presentation, HPL Electric said that the company’s unexecuted order book was over Rs.3,500 crore, as of May 20, 2025.
Of this order book, around 99 per cent was from the Metering, Systems & Services (MSS) vertical. In turn, smart meters accounted for 99 per cent of the MSS order book. The enquiry base for metering tenders is at a healthy level, the company said.
HPL Electric operates through two main verticals — Metering, Systems & Services (MSS) and Consumer, Industrial & Services (CIS).
Revenues of the MSS division grew 26.2 per cent year-on-year in FY25, and this division contributed around 63 per cent (or Rs.1077 crore) to the company’s overall FY25 revenues of around Rs.1,700 crore.
The MSS segment will be the driving segment and is anticipated to receive good traction with strong execution cycle, the presentation said. Meanwhile, HPL Electric expanded its meter manufacturing capacity, including that for components, during FY25.
According to Gautam Seth, Joint Managing Director & CFO, HPL Electric & Power Ltd, “In Smart Metering, execution momentum is accelerating; with AMISPs eager for deliveries the order inflow remains strong, and our Rs.3,500-crore book, ninety nine per cent of which relates to smart meters, gives us multi-year visibility in what is becoming a marathon of nationwide roll-outs.”
CIS division
Within the Consumer, Industrial & Services (CIS) division, cables grew by 23.6 per cent in FY25 while domestic switchgear was up 16 per cent. These growth rates relate to revenue and are with respect to FY24.
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