HPL Electric surges 15% on bagging Rs 2,000 crore order

Over the past year, shares of the firm have jumped over 200 percent.

HPL Electric & Power shares skyrocketed 15 percent in early trade on July 11 after the company announced it won a Letter of Award for smart meters.

According to a filing with the exchanges, the order is valued at Rs 2,000.71 crore. It has been received from HPL Electric's regular leading customers. The company has not shared further details about the order, such as the timeline or location.

The order amount exceeds the previous year's total order book for HPL Electric. Additionally, it represents about 64 percent of the company's market capitalization, which is slightly above Rs 3,300 crore.

At 10.20 am, shares of HPL Electric were quoting Rs 538 on the NSE, higher by 14.8 percent compared to the previous session's closing price.

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On July 8, HPL Electric announced a memorandum of understanding (MOU) with China-based Guangxi Ramway Technology Co. Ltd for local manufacturing for assembly of relay/latching relays in India. The agreement could involve technical partnership and equipment procurement, according to the company.

The company had reported a net profit of Rs 13.72 crore for the March quarter of FY25, recording an annual increase of 22.3 percent. The consolidated revenue went up 17 percent to Rs 424.09 crore in the quarter ended March 31 compared to the year-ago period.

HPL Electric & Power is an electrical and power distribution equipment manufacturer. It has a product portfolio that includes cables, energy-saving meters, industrial and domestic circuit protection switchgear, and CFL & LED lamps.

Over the past year, shares of the firm have more than tripled in value, jumping 200 percent as against a 26 percent rise in the benchmark Nifty 50 index.