Rs 2,000 crore order book: This multibagger smart meter manufacturing company bags new orders worth Rs 2,100.71 crore

The stock gave multibagger returns of 185 per cent in just 1 year and a whopping 900 per cent in 2 years.

HPL Electric & Power Ltd, a leading electrical equipment manufacturer in India operating for the past 40 years announced that the company has won a supply of smart meter orders worth Rs 2,100.71 crore from its regular leading customers in the normal course of business.  

Earlier, HPL Electric & Power Limited signed a Memorandum of Understanding(MoU) with Guangxi Ramway Technology Company Ltd, China for local manufacturing under phased Manufacturing/technical Tie-up/ Procurement for the assembly of Relay/Latching Relays in India.

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.

Order Book Update: With an order book exceeding Rs 2000+ crore as of May 09, 2024, 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 3,800 crore.

On Monday, shares of HPL Electric & Power Ltd plunged 5.43 per cent to Rs 598.65 per share with an intraday high of Rs 634.45 and an intraday low of Rs 587.45. The shares of the company saw a spurt in volume by more than 1,01 times on BSE.

The stock gave multibagger returns of 185 per cent in just 1 year and a whopping 900 per cent in 2 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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