HPL Electric & Power Ltd

HPL Electric Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

HPL Electric & Power Ltd

₹ 384 1.55%
19 Jun - close price
hplindia.com BSE: 540136 NSE: HPL
About

HPL Electric & Power Limited is a leading electrical equipment manufacturer in India operating for the past 40 years. The Company has significant presence across five key product verticals of electric equipment – metering solutions, modular switches, switchgears, LED lighting and wires
and cables. It caters to a wide spectrum of customer segments, such as power utilities, government agencies, and retail and institutional customers, with a strong brand recall as a trusted electrical brand. [1]

It exports its finest engineering goods to more than 42 countries in regions of Asia, Africa, Europe, UK and Indian Sub-continent through the overseas logistic partners. [2]

Key Points

Market Share
The company is the largest manufacturer of on-load change-over switches with a 50% market share in India. It also has a market share of 20% in the domestic electric meters market and a 5% market share in the Low-voltage Switchgear Market. It is the 5th largest LED manufacturer in India. [1]

Website BSE NSE
  • Market Cap ₹ 2,466 Cr.
  • Current Price ₹ 384
  • High / Low ₹ 640 / 256
  • Stock P/E 28.3
  • Book Value ₹ 152
  • Dividend Yield 0.26 %
  • ROCE 12.9 %
  • ROE 9.27 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 61.4% CAGR over last 5 years

Cons

  • Stock is trading at 2.52 times its book value
  • Company has a low return on equity of 8.31% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
352 312 338 358 413 390 401 385 508 397 488 461 512
310 275 294 310 361 336 346 331 434 343 427 394 430
Operating Profit 42 37 44 47 53 54 56 53 74 54 61 67 82
OPM % 12% 12% 13% 13% 13% 14% 14% 14% 15% 14% 13% 14% 16%
1 1 1 0 2 1 1 1 2 1 1 -5 2
Interest 19 20 21 21 23 23 20 20 22 22 23 25 22
Depreciation 8 8 8 8 11 9 10 10 10 11 12 15 23
Profit before tax 17 10 16 18 21 23 26 24 44 23 27 23 39
Tax % 35% 35% 35% 37% 36% 26% 25% 26% 26% 26% 26% 25% 26%
11 6 10 12 13 17 19 18 33 17 20 17 29
EPS in Rs 1.66 1.01 1.56 1.79 2.05 2.61 3.03 2.77 5.08 2.63 3.15 2.67 4.46
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,045 1,115 927 1,000 1,103 925 850 1,004 1,215 1,421 1,684 1,858
920 974 819 903 985 814 741 889 1,069 1,239 1,447 1,594
Operating Profit 125 142 108 97 117 111 109 116 145 182 238 264
OPM % 12% 13% 12% 10% 11% 12% 13% 12% 12% 13% 14% 14%
5 5 4 4 4 3 3 3 3 3 4 -1
Interest 70 78 62 46 53 56 60 64 71 85 85 91
Depreciation 16 19 23 21 30 35 42 44 35 35 39 60
Profit before tax 44 49 27 33 39 23 11 11 43 64 117 112
Tax % 21% 24% 24% 31% 32% 28% 26% 34% 35% 36% 26% 26%
34 37 20 23 26 17 8 7 28 41 87 83
EPS in Rs 18.54 7.98 3.13 3.55 4.10 2.60 1.24 1.11 4.32 6.42 13.50 12.92
Dividend Payout % 1% 1% 48% 28% 5% 6% 12% 14% 23% 16% 7% 8%
Compounded Sales Growth
10 Years: 5%
5 Years: 17%
3 Years: 15%
TTM: 10%
Compounded Profit Growth
10 Years: 9%
5 Years: 61%
3 Years: 46%
TTM: 0%
Stock Price CAGR
10 Years: %
5 Years: 46%
3 Years: 45%
1 Year: -28%
Return on Equity
10 Years: 5%
5 Years: 6%
3 Years: 8%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 19 46 64 64 64 64 64 64 64 64 64 64
Reserves 300 309 639 650 668 683 691 696 723 756 836 913
514 579 330 437 481 543 540 553 559 585 620 735
307 404 350 317 251 220 237 256 283 405 512 627
Total Liabilities 1,141 1,339 1,382 1,468 1,464 1,510 1,532 1,570 1,629 1,809 2,032 2,338
307 350 371 392 412 451 422 404 406 418 456 573
CWIP 0 3 0 0 7 3 1 8 7 7 7 41
Investments 15 54 54 54 54 54 54 54 54 54 54 54
819 932 957 1,022 992 1,002 1,056 1,104 1,161 1,330 1,515 1,670
Total Assets 1,141 1,339 1,382 1,468 1,464 1,510 1,532 1,570 1,629 1,809 2,032 2,338

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
27 112 -8 9 60 53 73 94 94 93 131 210
-39 -92 -47 -52 -47 -58 -4 -37 -36 -37 -70 -213
20 -16 56 44 -17 4 -63 -55 -65 -67 -59 18
Net Cash Flow 8 4 1 1 -4 -1 5 1 -7 -11 2 15
Free Cash Flow -16 62 -59 -47 10 -8 65 54 56 53 56 -6
CFO/OP 30% 85% -1% 19% 56% 52% 68% 83% 69% 58% 66% 91%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 140 166 185 163 150 174 212 167 164 167 151 146
Inventory Days 156 148 202 215 198 264 286 269 208 215 216 215
Days Payable 124 164 150 150 103 102 121 117 94 112 137 153
Cash Conversion Cycle 172 150 237 228 244 336 377 318 278 270 230 208
Working Capital Days 24 13 82 66 61 81 100 91 89 101 81 72
ROCE % 14% 14% 9% 7% 8% 6% 5% 6% 9% 11% 14% 13%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Feb 2025
Installed Capacity - Electronic Meters
million units

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Installed Capacity - Lighting Equipment
million units
Installed Capacity - Switchgear
million units
Installed Capacity - Wires and Cables
million meters
Number of Authorized Dealers
count
Number of Retailers
count
Market Share - Domestic Electric Meters
%
Order Book
INR crore

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66%
0.43% 0.00% 0.00% 0.24% 0.74% 0.51% 0.58% 0.31% 0.70% 0.34% 0.28% 0.51%
0.24% 0.23% 0.23% 0.32% 0.23% 0.23% 0.23% 0.26% 0.30% 0.19% 0.10% 0.10%
26.68% 27.12% 27.12% 26.78% 26.38% 26.59% 26.53% 26.77% 26.33% 26.81% 26.96% 26.74%
No. of Shareholders 64,21573,57578,5111,15,8261,25,0851,42,9071,45,2251,47,6031,40,9161,39,6311,35,7271,26,744

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls