HPL Electric & Power Limited has officially announced the receipt of a significant work order totaling INR 242.24 Crores (inclusive of taxes). The notification of award was issued by several regular leading customers, including GMR Triveni Smart Meters Limited, GMR Kashi Smart Meters Limited, GMR Agra Smart Meters Limited, Paschimanchal Infrastructure Private Limited, and Madhyanchal One Infrastructure Private Limited.

The detailed notice specifies that this substantial order is for the supply of smart meters, a core segment for the company. This transaction falls within the normal course of business and is slated for execution according to the specific terms and conditions outlined in the Purchase Orders. This win reinforces the company’s strong relationship with the GMR Group and other key infrastructure players, further solidifying its position in the rapidly expanding Indian smart metering market.

HPL Electric & Power Limited is a premier Indian electrical equipment manufacturer with over 40 years of operation and a diverse presence in metering solutions, modular switches, switchgears, LED lighting, and wires. In recent 2025 updates, the company expanded its portfolio by launching ‘Neeram Pulse,’ a smart water meter for the domestic market, signaling an entry into digital water infrastructure. The company has also maintained a robust market position, holding approximately a 20% market share in the domestic metering segment.

For the last quarterly results announced for the period ending December 31, 2025, HPL reported a consolidated revenue of INR 474.79 Crores, marking a 20.7% YoY growth compared to INR 393.43 Crores in the corresponding quarter of the previous year. The net profit for this quarter stood at INR 19.51 Crores, an increase of 7.9% YoY from INR 18.09 Crores. Regarding the shareholding structure, the promoter group remains the dominant investor, with HPL India Limited being the largest shareholder at approximately 27.33% as of March 2026. Additionally, institutional investors such as the DFA Investment Dimensions Group and various Dimensional ETF Trust funds have maintained holdings in the company through early 2026.