HPL Electric & Power Ltd

About [ edit ]

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. #

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. #

Key Points [ edit ]
  • Market Cap 274 Cr.
  • Current Price 42.6
  • High / Low 48.4 / 18.3
  • Stock P/E
  • Book Value 114
  • Dividend Yield 0.35 %
  • ROCE 7.17 %
  • ROE 2.96 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.37 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -1.39% over past five years.
  • Company has a low return on equity of 3.77% for last 3 years.
  • Dividend payout has been low at 10.61% of profits over last 3 years
  • Company has high debtors of 173.10 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
314.56 260.02 286.49 259.45 352.52 248.18 272.04 244.14 212.16 96.18 227.09 243.99
284.27 232.74 253.10 227.34 311.78 217.94 236.97 211.54 185.17 89.55 193.09 209.29
Operating Profit 30.29 27.28 33.39 32.11 40.74 30.24 35.07 32.60 26.99 6.63 34.00 34.70
OPM % 9.63% 10.49% 11.65% 12.38% 11.56% 12.18% 12.89% 13.35% 12.72% 6.89% 14.97% 14.22%
Other Income 1.13 1.16 1.42 0.88 1.25 1.37 0.62 0.75 1.84 1.13 0.84 0.80
Interest 13.05 13.58 15.67 15.69 13.21 14.89 15.64 15.29 15.62 15.74 16.15 16.27
Depreciation 5.68 6.95 8.03 8.43 8.62 9.43 9.62 9.05 9.32 10.85 11.19 11.20
Profit before tax 12.69 7.91 11.11 8.87 20.16 7.29 10.43 9.01 3.89 -18.83 7.50 8.03
Tax % 42.87% 28.70% 29.34% 24.80% 37.75% 30.59% 27.71% 24.97% 33.93% -3.66% 6.40% -4.61%
Net Profit 7.19 5.60 7.79 6.62 12.52 5.05 7.49 6.71 2.52 -19.49 7.01 8.39
EPS in Rs 1.12 0.87 1.21 1.03 1.95 0.79 1.16 1.04 0.39 -3.03 1.09 1.30
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
566 721 911 1,011 1,047 1,116 986 1,036 1,158 977 779
494 638 801 906 922 975 862 926 1,025 851 677
Operating Profit 72 83 111 105 125 141 124 110 134 126 102
OPM % 13% 12% 12% 10% 12% 13% 13% 11% 12% 13% 13%
Other Income 2 3 4 5 5 5 5 4 4 4 5
Interest 21 41 62 59 70 78 68 51 58 61 64
Depreciation 5 7 11 13 16 19 24 23 32 37 43
Profit before tax 47 38 42 38 44 48 37 40 48 31 1
Tax % 21% 25% 25% 25% 21% 24% 30% 32% 32% 28%
Net Profit 37 28 31 28 35 37 26 27 33 22 -2
EPS in Rs 20.72 15.79 16.92 15.28 18.64 7.89 4.01 4.27 5.06 3.39 -0.25
Dividend Payout % 7% 1% 1% 1% 1% 1% 37% 23% 4% 4%
Compounded Sales Growth
10 Years:%
5 Years:-1%
3 Years:-0%
TTM:-30%
Compounded Profit Growth
10 Years:%
5 Years:-8%
3 Years:-5%
TTM:-105%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:-30%
1 Year:43%
Return on Equity
10 Years:%
5 Years:5%
3 Years:4%
Last Year:3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
18 18 19 19 19 46 64 78 79 80 64
Reserves 195 223 263 291 300 308 624 640 664 684 671
Borrowings 216 339 367 424 514 579 376 472 511 570 587
137 188 260 252 308 405 363 345 281 250 248
Total Liabilities 566 768 908 986 1,141 1,338 1,427 1,521 1,521 1,569 1,570
127 175 213 277 307 335 399 425 453 494 471
CWIP 72 66 53 29 0 3 0 0 7 3 4
Investments 15 15 15 15 15 54 0 0 0 0 0
352 513 627 664 819 947 1,028 1,095 1,060 1,072 1,095
Total Assets 566 768 908 986 1,141 1,338 1,427 1,521 1,521 1,569 1,570

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
85 -16 63 46 27 103 3 20 83 63
-77 -45 -33 -49 -39 -92 -51 -59 -57 -60
-0 79 -24 -2 20 -14 49 40 -29 -3
Net Cash Flow 8 17 5 -6 8 -3 1 2 -3 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 17% 14% 15% 14% 11% 8% 9% 7%
Debtor Days 93 110 108 118 140 168 174 165 148 173
Inventory Turnover 2.93 2.77 2.79 2.56 2.42 1.92 1.73 1.84 1.46

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
72.15 72.15 72.15 72.25 72.31 72.34 72.34 72.34 72.34 72.34 72.34 72.34
0.04 0.04 0.04 0.03 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00
6.58 6.62 6.75 6.82 6.86 7.42 7.44 7.33 7.21 7.08 6.68 3.12
21.23 21.19 21.07 20.90 20.79 20.24 20.22 20.34 20.45 20.58 20.98 24.54

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