Rs 3,700+ crore order book: This multibagger smart meter manufacturing company bags new orders worth Rs 143.77 crore
The stock gave multibagger returns of 165 per cent in just 1 year and a whopping 750 per cent in 3 years.
HPL Electric& Power Limited has received Work Orders/Letter of Award of Rs 143.77 crore (inclusive of tax) from our regular leading customers for the supply of smart meters & conventional meters in the normal course of business, which is to be executed as per the terms & conditions of Letter of Award (LoA)/work orders.
Earlier, the company secured substantial smart meter orders valued at Rs 2,100.71 crore from its longstanding clients. This achievement underscores HPL's market leadership in the competitive smart meter sector. Moreover, the company's recent MoU with Guangxi Ramway Technology Company Ltd, China, paves the way for localized manufacturing of Relay/Latching Relays in India. This strategic collaboration not only strengthens HPL's domestic manufacturing capabilities but also aligns with the government's Make in India initiative. Overall, these developments mark a significant milestone in HPL's journey, reinforcing its position as a leading player in the smart metering industry and auguring a prosperous future.
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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 3,800 crore. The company’s order book exceeds Rs 3,7000+ crore as of June 30, 2024.
On Friday, shares of HPL Electric & Power Ltd plunged 0.49 per cent to Rs 595.85 per share with an intraday high of Rs 613.80 and an intraday low of Rs 593. The stock gave multibagger returns of 165 per cent in just 1 year and a whopping 750 per cent in 3 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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