HPL Electric & Power Ltd

HPL Electric & Power Ltd: Trading Window Closure from October 01, 2026 till 48 hours after the declaration of financial results for the quarter ended September 30, 2026.

AGM Details

• AGM held on 24 September 2026 at 11:30 A.M. via VC/OAVM.
• 137 members attended via VC/OAVM.
• Remote e-voting available Sept 21–23, 2026; voting at meeting via VC/OAVM.
• Meeting concluded at 12:31 P.M.

Ordinary Business

• Adopt Audited Financial Statements for year ended 31 March 2026.
• Declare final dividend of Rs 1.00 per equity share.
• Re-appoint director retiring by rotation (Rishi Seth).

Special Business

• Ratify remuneration of Cost Auditors.

Voting Update

• Results to be declared within statutory timelines.

AGM Details

• AGM held on 24 September 2026 at 11:30 AM IST via VC/OAVM.
• Record date for entitlement: 17 September 2026.
• Last date for postal ballot receipt: 24 September 2026.
• Meeting duration: 11:30 AM to 12:31 PM.

Resolutions and outcomes

• Resolution 1: Ordinary—Adopt Audited Financial Statements; approved.
• Resolution 2: Ordinary—Final dividend of Rs 1.00 per equity share; approved.
• Resolution 3: Ordinary—Re-appointment of director by rotation; approved.
• Resolution 4: Ordinary—Remuneration of Cost Auditors ratified; approved.

Dividend

• Final dividend of Rs 1.00 per equity share approved.

Directors and Auditors

• Director re-appointment by rotation approved.
• Remuneration of Cost Auditors ratified.

AGM notice and email update

• 34th AGM scheduled for Sep 24, 2026 at 11:30 IST via VC/OAVM.
• Shareholders without registered email can access AGM notice and Annual Report via provided links.
• Shareholders are advised to update email, communication address, bank details, and nomination with DP.

Overview

• BRSR for FY2025-26 filed and available on the company website.

FY26 snapshot

• Revenue from operations ₹1,811.10 crore; up 6.52% YoY.
• EBITDA ₹281.43 crore; margin 15.54%.
• PAT ₹91.25 crore; margin 5.04%.

Segments & momentum

• Metering revenue ₹1,026.43 crore; order book >₹3,200 crore; ~97% visibility.
• Consumer & Industrial revenue ₹784.67 crore; 43% of total; +25.62% YoY.
• RDSS and AMISP support multi-year metering visibility; channel expansion underway.

Strategic developments & products

• Neeram Pulse smart water meter launched; Gurugram plant established; BIS certification.
• New R&D center for switchgear and lighting; NABL lab for wires & cables.
• Energy-efficient product launches; export footprint expanded to 42+ countries.

Capital structure & ratings

• Authorized capital ₹70 crore; paid-up ₹64.30 crore.
• Net debt ₹66.11 crore; DSCR 1.80; debt–equity 0.75.
• Credit ratings upgraded to CRISIL A+/Stable; IND A+/Stable.

Dividend & governance

• Final dividend ₹1 per equity share; record date 17 Sep 2026.
• 34th AGM on 24 Sep 2026 via VC/OAVM; e-voting enabled.
• Ajit Sood appointed Independent Director; Rashmi Vij reappointed; Sachdev ceased; 5 Board meetings.

ESG & CSR highlights

• CSR spend ₹1.58 crore; total CSR ₹1.63 crore for FY26.
• ESG governance aligned with NGRBC; Board oversight and BRSR reporting.
• Donations to Sri Sathya Sai Trust; Saksham support; 100 Days CSR campaigns.

Outlook & risks

• RDSS, AMISP deployments, and 5G expansion drive metering demand.
• Risks include raw material price volatility and macro headwinds.
• Capex, automation, and disciplined capital allocation to sustain margins.

Financial Performance

• Revenue from operations up 35% YoY to 515 crores
• EBITDA 63 crores; margins 12.26%
• PAT 19 crores
• Metering and systems revenue 234 crores; up 17% YoY
• Order book 3,200 crores as on 7 Aug 2026; metering >96% of orders
• C&I revenue 278 crores; up 55% YoY; ~54% of revenue
• Wire and cable revenue 146 crores; up 79% YoY
• Lighting revenue 56 crores; growth 78%
• Authorized dealers ~900; retailers ~85,000+
• Q1 traditionally slow; strong start this year

Segment Trends

• C&I growth across wires, cables, switches and lighting; channel expansion ongoing
• Launched Cairo switches; three August state launches planned
• Smart metering market matures; longer cycle with improved visibility
• Metering revenue grew 17% YoY to 234 crores

Order Book and Channel Reach

• Order book Stand: 3,200 crores as of 7 Aug 2026; metering and systems >96% of orders
• Distribution network: 900 authorized dealers; 85,000+ retailers

Margins and Cost Dynamics

• EBITDA margin 12.26%; input-cost volatility weighing on margins
• Pricing and mix actions underway; pass-through to customers with lag
• Depreciation up due to capacity investments; cash profit growth

Capex and Backward Integration

• MCBS machine commissioned; 7–8 new machines; 18,000 MCB capacity
• Seven factories backward integrated; in-house components; relays under exploration
• Switch gear lab DECA-certified; can sell to 55 countries

Q&A Highlights

• Adani: Intellismart integration strengthens position; diversified AMISP base
• Lead times for plastics: 15 days to 2 months; some parts imported up to 52 weeks
• Data-center cables: new cables under development; target May–June next year; international certifications
• Capex outlook: maintenance capex; automation ROI 3–4 years; potential new projects; 50–100 crore range discussed
• MOU with Chinese relay supplier: not manufacturing relays yet; backward integration progress; updates to come

Meeting Details

• Date/time of the call not disclosed; pertains to Q1 FY27 results (quarter ended June 30, 2026).
• Type/mode: Analyst/investor conference call; mode not specified.
• Event/organiser: Analysts / Institutional Investors Meeting; conducted by HPL Electric & Power Limited.
• Key company participants: not disclosed.
• Purpose: discuss unaudited standalone and consolidated quarterly results for quarter ended June 30, 2026.
• Recording uploaded on August 11, 2026; transcript will be submitted to exchanges and uploaded.