You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

HPL Electric hits the roof after order win

Capital Market 

HPL Electric & Power hit an upper circuit of 5% at Rs 51.45 after the company bagged two orders worth over Rs 372 crore for its switchgear, wires and other related accessories for housing projects in Andhra Pradesh.

These orders were bagged amidst stiff competition from various players. This is a big step by the company to increase its presence in the low-cost affordable housing segment. The current total order book of the company now stands over at Rs 700 crore.

HPL has been a major supplier of electrical equipments to the government infrastructure and private housing sector.

Commenting on winning the orders, Gautam Seth, joint managing director, HPL Electric & Power, said, This is a big win for us and enhances our position as one of the leading electrical equipment manufacturer in the country. We have a diversified portfolio of electrical equipments to cater to various needs of the market.

Our manufacturing facilities are state-of-the-art equipped to undertake larger production to meet the present and emerging needs of the country. We also have a strong R&D base with focus on developing technological advancement in electrical equipment solution for various categories and requirements.

HPL Electric & Power is an established electric equipment manufacturing company, manufacturing a diverse portfolio of electric equipment, including, metering solutions, switchgears, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry.

The company reported 25% jump in consolidated net profit to Rs 8.39 crore on a 0.1% decline in net sales to Rs 243.99 crore in Q3 FY21 over Q3 FY20.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, May 20 2021. 13:53 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU