HPL Electric & Power Ltd

HPL Electric & Power Ltd

₹ 316 -2.91%
28 Mar - close price
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[1]
The company is the largest manufacturer of on-load change-over switches with a 50% market share in the country. It also has a market share of 20% in domestic electric meters market. It also has 5% market share in the Low-voltage Switchgear Market. It is the 5th largest LED manufacturer in the country.

  • Market Cap 2,035 Cr.
  • Current Price 316
  • High / Low 397 / 82.1
  • Stock P/E 52.5
  • Book Value 125
  • Dividend Yield 0.32 %
  • ROCE 8.55 %
  • ROE 3.59 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 2.53 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 3.97% over past five years.
  • Company has a low return on equity of 1.88% over last 3 years.
  • Company has high debtors of 164 days.

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
232 305 128 279 273 324 285 291 287 352 312 338 358
200 266 120 246 240 283 250 256 253 310 275 294 310
Operating Profit 32 40 8 33 33 41 35 35 34 42 37 44 47
OPM % 14% 13% 6% 12% 12% 13% 12% 12% 12% 12% 12% 13% 13%
1 1 1 1 1 0 1 1 0 1 1 1 0
Interest 15 15 16 16 16 16 16 17 18 19 20 21 21
Depreciation 11 11 11 11 11 11 11 9 7 8 8 8 8
Profit before tax 7 15 -18 7 7 14 9 9 9 17 10 16 18
Tax % -10% 18% -14% -2% -2% 11% 35% 35% 35% 35% 35% 35% 37%
8 12 -20 7 7 13 6 6 6 11 6 10 12
EPS in Rs 1.21 1.91 -3.11 1.12 1.13 1.97 0.87 0.91 0.87 1.66 1.01 1.56 1.79
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
716 903 1,007 1,045 1,115 927 1,000 1,103 925 850 1,004 1,215 1,360
632 793 902 920 974 819 903 985 814 741 889 1,069 1,190
Operating Profit 84 111 105 125 142 108 97 117 111 109 116 145 170
OPM % 12% 12% 10% 12% 13% 12% 10% 11% 12% 13% 12% 12% 13%
3 4 5 5 5 4 4 4 3 3 3 3 3
Interest 41 62 59 70 78 62 46 53 56 60 64 71 81
Depreciation 7 11 13 16 19 23 21 30 35 42 44 35 32
Profit before tax 38 42 38 44 49 27 33 39 23 11 11 43 60
Tax % 25% 25% 24% 21% 24% 24% 31% 32% 28% 26% 34% 35%
29 31 29 34 37 20 23 26 17 8 7 28 39
EPS in Rs 16.00 16.91 15.50 18.54 7.98 3.13 3.55 4.10 2.60 1.24 1.11 4.32 6.02
Dividend Payout % 1% 1% 1% 1% 1% 48% 28% 5% 6% 12% 14% 23%
Compounded Sales Growth
10 Years: 3%
5 Years: 4%
3 Years: 10%
TTM: 15%
Compounded Profit Growth
10 Years: -1%
5 Years: 4%
3 Years: 17%
TTM: 31%
Stock Price CAGR
10 Years: %
5 Years: 41%
3 Years: 87%
1 Year: 288%
Return on Equity
10 Years: 4%
5 Years: 2%
3 Years: 2%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 18 19 19 19 46 64 64 64 64 64 64 64 64
Reserves 223 264 292 300 309 639 650 668 683 691 696 723 740
339 367 424 514 579 330 437 481 543 540 553 559 596
187 258 250 307 404 350 317 251 220 237 256 283 317
Total Liabilities 767 907 985 1,141 1,339 1,382 1,468 1,464 1,510 1,532 1,570 1,629 1,717
175 213 277 307 350 371 392 412 451 422 404 406 414
CWIP 66 53 29 0 3 0 0 7 3 1 8 7 7
Investments 15 15 15 15 54 54 54 54 54 54 54 54 54
512 626 664 819 932 957 1,022 992 1,002 1,056 1,104 1,161 1,243
Total Assets 767 907 985 1,141 1,339 1,382 1,468 1,464 1,510 1,532 1,570 1,629 1,717

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-16 63 45 27 112 -8 9 60 53 73 94 94
-45 -33 -49 -39 -92 -47 -52 -47 -58 -4 -37 -36
79 -24 -2 20 -16 56 44 -17 4 -63 -55 -65
Net Cash Flow 17 5 -6 8 4 1 1 -4 -1 5 1 -7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 111 108 119 140 166 185 163 150 174 212 167 164
Inventory Days 154 148 129 156 148 202 215 198 264 286 269 208
Days Payable 108 117 98 124 164 150 150 103 102 121 117 94
Cash Conversion Cycle 157 139 149 172 150 237 228 244 336 377 318 278
Working Capital Days 147 135 140 160 154 212 221 218 279 310 280 249
ROCE % 16% 17% 14% 14% 14% 9% 7% 8% 6% 5% 6% 9%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66% 72.66%
0.00% 0.00% 0.00% 0.08% 0.01% 0.00% 0.06% 0.43% 0.02% 0.43% 0.00% 0.00%
3.51% 1.71% 1.26% 1.26% 1.26% 1.26% 1.26% 0.82% 0.31% 0.24% 0.23% 0.23%
23.83% 25.63% 26.08% 26.00% 26.07% 26.08% 26.03% 26.09% 27.02% 26.68% 27.12% 27.12%
No. of Shareholders 51,16353,27861,79166,12767,24866,98965,87266,12465,65664,21573,57578,511

* 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.

Click on the line-items to see the names of individual entities.

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