Rs 2,000+ crore order book: This multibagger smart meter manufacturing company bags new orders worth Rs 545,00,00,000 from various customers!

The stock gave multibagger returns of 115 per cent in 6 months whereas BSE Consumer Discretionary Index is up by 22 per cent.

HPL Electric & Power Ltd, a leading electrical equipment manufacturer in India operating for the past 40 years announced that the company has won smart meter orders worth Rs 545,00,00,000 from various prestigious customers in the normal course of business.  

This achievement marks a significant stride in HPL's journey, further solidifying its market share in the competitive smart meter arena. The order is indicative of the Company's continued growth trajectory and promising future in the industry. This order is a milestone in HPL's journey and a strong indicator of its promising future in the smart metering industry.

According to Quarterly Results, the net sales increased by 15.9 per cent to Rs 350.45 per share and net profit increased by 75.6 per cent to Rs 11.02 crore in Q2FY24 compared to Q2FY23. In its annual results, the net sales increased by 24.5 per cent to Rs 1,262.21 crore and net profit increased by 287.6 per cent to Rs 30.25 crore in FY23 compared to FY22.

Order Book Update: With an order book exceeding Rs 2000+ crore as of July 04, 2023, HPL's position at the forefront of India's energy modernization journey is solidified. As the nation embraces energy-efficient solutions, HPL is poised to play an instrumental role in shaping the landscape of India's energy-efficiency future.

The company has a strong presence across five key product verticals: metering solutions, modular switches, switchgear, LED lighting, and wires and cables. It caters to a wide range of customers, including power utilities, government agencies, and retail and institutional customers. The company exports its products to over 42 countries in Asia, Africa, Europe, the UK, and the Indian Subcontinent. The company has a market cap of over Rs 1,400 crore.

Today, shares of HPL Electric & Power Ltd surged 3.75 per cent to Rs 228.90 per share with an intraday high of Rs 242.40 and an intraday low of Rs 227.05. The shares of the company saw a spurt in volume by more than 8.32 times on BSE.

The stock gave multibagger returns of 115 per cent in 6 months whereas BSE Consumer Discretionary Index is up by 22 per cent. Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.