HPL Gets LoA for Smart Meters worth Rs 2100.71 Crores

HPL secured Rs 2100.71 crore LoA for smart meter supply, boosting sector growth and investor confidence and leading to a rise in share price on the NSE and BSE.

by Damodharan N

Updated Jul 11, 2024

Article continues below advertisement
HPL Gets LoA for Smart Meters worth Rs 2100.71 Crores

HPL Electric & Power Limited has secured Work Orders/Letter of Award (LoA) totaling INR 2100.71 Crores (inclusive of tax) from its established clients for the supply of smart meters.

These contracts, part of the company's regular business operations, are set to be executed according to the specified terms and conditions outlined in the LoA and work orders

HPL Gets LoA for Smart Meters worth Rs 2100.71 Crores

This significant development underscores HPL's continued commitment to the smart metering sector, positioning itself to meet the growing demand for advanced metering solutions in the market.

we have also given the possible meter that may be part of the contract from their product portfolio. we have also given the sailentd features of that meter but we are not claiming to establish that this meter is part of the contract. 


Read the full Release Here

Market Reaction

Following the announcement of receiving work orders worth Rs 2,100.71 crore for smart meters, shares of HPL Electric & Power (HPL) surged 17% to hit a new high of Rs 548.80 on the BSE.

This rally marks a substantial recovery of 59% from its recent low in June and reflects a remarkable performance, with the stock price doubling in the calendar year 2024 alone. The surge in trading volumes underscores investor confidence, with over 4.57 million shares changing hands on the NSE and BSE, representing a significant portion of HPL's total equity.

This bullish sentiment highlights the market's positive outlook on HPL's strategic growth in the smart metering sector. 

Article continues below advertisement
Article continues below advertisement

HPL Electric & Power 

HPL Electric & Power Limited stands as India’s leading manufacturer of electrical equipment, renowned for its diverse product range spanning Metering Solutions, Switchgears, LED Lighting, Wires & Cables, Solar Solutions, and Modular Switches.

With over four decades of experience, HPL operates state-of-the-art manufacturing facilities and robust R&D centers across India. The company's products, certified to meet both Indian and international standards such as ISI, CE, and KEMA, cater effectively to the evolving electrical needs of India.

HPL boasts the largest market share in electronic energy meters in India and maintains a widespread network of dealers, distributors, and retailers, reinforcing its position as India’s most trusted electrical brand.

HPL Gets LoA for Smart Meters worth Rs 2100.71 Crores - FAQs

1. What does the Letter of Award (LoA) signify for HPL Electric & Power?   

The LoA confirms that HPL has secured contracts worth Rs 2100.71 Crores for supplying smart meters.

2. Who awarded the LoA to HPL Electric & Power?   

The LoA was awarded by HPL's established clients as part of their regular procurement process.

3. What is the total value of the LoA received by HPL?   

The total value of the LoA is INR 2100.71 Crores, inclusive of taxes.

4. How will HPL Electric & Power execute these contracts?   

HPL will execute the contracts as per the terms and conditions outlined in the LoA and the associated work orders.

5. What sector are these smart meters intended for?   

These smart meters are intended for the metering solutions sector, one of HPL's core business verticals.

6. What is the significance of these contracts for HPL Electric & Power?   

These contracts underscore HPL's strategic focus and commitment to the smart metering sector, aligning with market demand for advanced metering solutions.

7. How has the market reacted to the news of HPL receiving the LoA?   

The market reacted positively, with HPL's stock surging 17% to a new high of Rs 548.80 on the BSE, reflecting investor confidence and optimism.

8. What is the trading volume indication post the announcement?   

Trading volumes spiked significantly, with over 4.57 million shares of HPL changing hands on the NSE and BSE, indicating strong investor interest.

9. How has HPL Electric & Power's stock performance been in 2024?   

HPL's stock has doubled in value in the calendar year 2024 alone, underscoring its robust performance and market sentiment.

10. What does this achievement reflect about HPL Electric & Power's market position?  

This achievement reinforces HPL's position as a leader in the electrical equipment sector in India, particularly in smart metering solutions, with a strong growth trajectory and market acceptance.

Disclaimer : The above information is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.