HPL Electric & Power Ltd

HPL Electric & Power Ltd

₹ 333 -2.73%
28 Feb - 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 2,142 Cr.
  • Current Price 333
  • High / Low 397 / 74.1
  • Stock P/E 52.1
  • Book Value 126
  • Dividend Yield 0.30 %
  • ROCE 8.85 %
  • ROE 3.87 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 2.64 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.02% over past five years.
  • Company has a low return on equity of 2.09% over last 3 years.
  • Dividend payout has been low at 14.5% of profits over last 3 years
  • Company has high debtors of 174 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

Consolidated Figures in Rs. Crores / View Standalone

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
244 308 129 280 280 325 296 302 302 363 321 350 366
209 264 119 247 243 280 258 264 265 318 281 303 316
Operating Profit 35 44 10 32 37 46 38 38 37 45 40 47 50
OPM % 14% 14% 8% 12% 13% 14% 13% 13% 12% 12% 12% 13% 14%
1 1 1 1 1 1 1 1 1 1 1 1 1
Interest 16 16 17 17 17 17 18 19 19 20 22 22 22
Depreciation 11 12 12 12 12 12 11 10 8 8 9 9 9
Profit before tax 8 17 -17 5 9 17 10 10 10 17 11 17 19
Tax % -5% 17% -14% -1% -1% 22% 35% 35% 35% 36% 36% 35% 37%
8 14 -20 5 9 14 6 6 6 11 7 11 12
EPS in Rs 1.30 2.19 -3.10 0.77 1.44 2.10 0.98 0.98 0.99 1.75 1.08 1.71 1.86
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
721 911 1,011 1,047 1,116 986 1,036 1,158 977 875 1,014 1,262 1,400
638 801 906 922 975 862 926 1,025 851 756 889 1,105 1,218
Operating Profit 83 111 105 125 141 124 110 134 126 119 125 157 182
OPM % 12% 12% 10% 12% 13% 13% 11% 12% 13% 14% 12% 12% 13%
3 4 5 5 5 5 4 4 4 4 4 4 4
Interest 41 62 59 70 78 68 51 58 61 64 68 75 86
Depreciation 7 11 13 16 19 24 23 32 37 45 47 38 35
Profit before tax 38 42 38 44 48 37 40 48 31 14 14 47 64
Tax % 25% 25% 25% 21% 24% 30% 32% 32% 28% 27% 44% 35%
28 31 28 35 37 26 28 33 22 10 8 30 41
EPS in Rs 15.79 16.92 15.28 18.64 7.89 4.01 4.27 5.06 3.39 1.55 1.21 4.69 6.40
Dividend Payout % 1% 1% 1% 1% 1% 37% 23% 4% 4% 10% 12% 21%
Compounded Sales Growth
10 Years: 3%
5 Years: 4%
3 Years: 9%
TTM: 14%
Compounded Profit Growth
10 Years: 0%
5 Years: 2%
3 Years: 11%
TTM: 27%
Stock Price CAGR
10 Years: %
5 Years: 44%
3 Years: 98%
1 Year: 291%
Return on Equity
10 Years: 4%
5 Years: 3%
3 Years: 2%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 223 263 291 300 308 624 640 664 684 694 700 729 747
Preference Capital 0 0 0 0 0 0 14 15 16 17 18 19
339 367 424 514 579 376 472 511 570 565 579 581 639
188 260 252 308 405 363 345 281 250 267 294 327 339
Total Liabilities 768 908 986 1,141 1,338 1,427 1,521 1,521 1,569 1,590 1,638 1,701 1,790
175 213 277 307 335 399 425 453 494 464 447 451 458
CWIP 66 53 29 0 3 0 0 7 3 2 10 9 9
Investments 15 15 15 15 54 0 0 0 0 0 0 0 0
513 627 664 819 947 1,028 1,095 1,060 1,072 1,124 1,181 1,241 1,323
Total Assets 768 908 986 1,141 1,338 1,427 1,521 1,521 1,569 1,590 1,638 1,701 1,790

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 46 27 103 3 20 83 63 85 101 104
-45 -33 -49 -39 -92 -51 -59 -57 -60 -8 -41 -40
79 -24 -2 20 -14 49 40 -29 -3 -71 -58 -74
Net Cash Flow 17 5 -6 8 -3 1 2 -3 -0 6 2 -10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 110 108 118 140 168 174 165 148 173 214 182 174
Inventory Days 153 149 132 157 156 211 227 199 262 293 283 211
Days Payable 107 117 98 125 164 148 154 104 104 126 128 100
Cash Conversion Cycle 156 140 152 173 160 236 237 244 332 381 337 285
Working Capital Days 146 134 139 160 163 210 224 215 275 315 288 250
ROCE % 16% 17% 14% 15% 14% 11% 8% 9% 7% 6% 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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