HPL Electric & Power Ltd has reported an outstanding order book position of Rs.859 crore, as of September 30, 2021, with a clear domination of metering products.
In a statement HPL Electric & Power Ltd said that its current order book position was Rs.859 crore (net of GST) with orders from the metering industry accounting for Rs.451 crore. The remaining order book position was taken up by switchgear (Rs.182 crore), wires & cables (Rs.169 crore) and lighting products (Rs.57 crore).
The statement observed that the enquiry base for metering tenders was at a healthy level with tenders worth Rs.2,000 crore already floated or expected to do so in the near term.
According to Gautam Seth, Joint Managing Director, HPL Electric & Power Ltd, “We foresee sustainable momentum in both meter and consumers segment for the remaining part of FY22. Going ahead, we have a robust order book position of Rs.859 crore, ensuring strong revenue visibility for FY22. The execution of Rs.372 crore order bagged for switchgear, wires and other related accessories for the housing project in Andhra Pradesh is poised to add notable contribution in FY22.”
“The government’s earmarking of Rs.225 billion towards installation for 25 crore smart prepaid meters across the nation under the Rs.3-lakh-crore power distribution scheme will brighten up prospects for a seasoned player like HPL Electric. The company has recently won Rs.179 crore of smart meters order from the largest private utility in an eastern Indian state, thereby fortifying its leadership position in smart meters. With this prestigious win, HPL aims to replicate its technology prowess and looks forward to win projects from other power utility companies,” Seth added.
