HPL Electric surges after signing settlement agreement with Havells

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HPL Electric & Power surged 7.92% to Rs 455.55 after the company said that the HPL Group and its promoters have signed a settlement agreement with Havells India.

This settlement agreement resolves all pending disputes and litigations related to the use of word/ mark 'HAVELLS', including suits filed in various courts including the Delhi High Court and various special leave petitions (SLPs) filed in the Supreme Court.

The Delhi High Court had referred these disputes to mediation, and the settlement was reached and executed on 8th November 2025.

As part of the settlement, the HPL Group has acknowledged that Havells India & its promoters absolute rights to the 'HAVELLS' mark since 1971.

HPL Group has waived any claims to the 'HAVELLS' mark and has undertaken not to use or challenge the mark in any form.

Additionally, the HPL Group has agreed to change the corporate name of its entities, namely, Havell's Private Limited and Havells Electronics Private Limited, to names not containing 'HAVELLS.'

As a onetime full and final settlement, Havells India will pay an amount of Rs 129.60 crore to the HPL Group.

HPL Electric & Power is a leading player and Indias fastest-growing electrical and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, energy-saving meters, CFL & LED lamps.

The company's consolidated net profit rose 8.28% to Rs 18.43 crore despite a 2.51% rise in revenue to Rs 383.03 crore in Q1 FY26 as compared with Q1 FY25.

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