HPL Electric & Power Posts Highest-Ever Q1 Revenue of ₹515 Crore, Up 34.5% YoY; Consumer & Industrial Segment Surges 55%

Electrical equipment manufacturer HPL Electric & Power Limited (NSE: HPL | BSE: 540136) today announced its consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27), achieving its highest-ever first-quarter revenue on the back of rapid expansion in its Consumer & Industrial (C&I) business and steady execution in Smart Metering.

Consolidated Financial Performance

Revenue from Operations: Grew 34.52% year-on-year (YoY) to ₹515.24 crore in Q1 FY27 compared to ₹383.03 crore in Q1 FY26, maintaining scale above ₹500 crore despite Q1 traditionally being a seasonally softer period.

EBITDA: Rose 8.94% YoY to ₹63.18 crore in Q1 FY27 against ₹57.99 crore in the year-ago period. EBITDA margin stood at 12.26% compared to 15.14% in Q1 FY26, impacted by input-cost volatility across metals and industrial plastics alongside a changing product mix.

Gross Profit: Increased 7.21% YoY to ₹156.15 crore compared to ₹145.65 crore in Q1 FY26, with gross margins coming in at 30.31%.

Net Profit (PAT): Increased 1.15% YoY to ₹18.69 crore against ₹18.48 crore in Q1 FY26, absorbed by a 56.55% increase in depreciation charges. Finance costs dropped 2.32% YoY to ₹22.08 crore.

Segment-Wise Performance & Product Growth

The revenue contribution mix shifted significantly during the quarter, with Consumer & Industrial rising to ~54% of total revenue compared to 47% in Q1 FY26, while Metering, Systems & Services accounted for 46%.

Consumer, Industrial & Services (C&I): Revenue surged 55.00% YoY to a record ₹277.59 crore from ₹179.09 crore in Q1 FY26. Growth was broad-based:

Wires & Cables: Up 78.6% YoY to ₹145.75 crore (representing over 40% of its total FY26 revenue in a single quarter).

Lighting & Electronics: Surged 78.1% YoY to ₹56.19 crore.

Switchgear: Industrial Switchgear grew 19.0% YoY, while Domestic Switchgear rose 6.9% YoY.

EBIT Margin: Came in at 8.40% compared to 11.25% in Q1 FY26.

Metering, Systems & Services: Revenue expanded 16.53% YoY to ₹237.65 crore against ₹203.94 crore in Q1 FY26, reflecting steady execution across utility contracts.

EBIT Margin: Stood at 14.18% compared to 17.67% in the corresponding prior-year period.

Order Book & Operational Outlook

Strong Execution Visibility: As of August 7, 2026, HPL's consolidated order book stood at over ₹3,200 crore, with more than 96% tied to the Metering, Systems & Services business under ongoing Advanced Metering Infrastructure Service Provider (AMISP) schedules.

Management Commentary: Mr. Gautam Seth, Joint Managing Director & CFO, stated that the quarter demonstrated increasing breadth in HPL's growth profile as C&I evolves into a multi-category growth engine. He added that pricing and product-mix actions are currently underway to progressively improve margin quality.

Shares of HPL Electric & Power Limited was last trading in BSE at Rs. 338.85 as compared to the previous close of Rs. 343.10. The total number of shares traded during the day was 7776 in over 268 trades.

The stock hit an intraday high of Rs. 345.95 and intraday low of 336.95. The net turnover during the day was Rs. 2644307.00.

Source : Equity Bulls

Keywords

HPLElectricandPower INE495S01016 HeavyElectricalEquipment Q1FY27 Q1FY2027 ResultUpdate