HPL Electric & Power Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Metering: 62.9% • Consumables & Industrial: 37.1%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 39.0% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.04x)
- Company generates healthy free cash flow
- Working capital cycle has improved - days down from 114 to 93
- Attractively priced for its growth - PEG of 0.2
- Company has a consistent dividend-paying track record
CONS
- Recent results are weak - TTM profit is down 19.1% versus prior year
- Company has a low return on equity of 6.3% over last 3 years
- Company has a low return on capital employed of 11.1%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7397.10 | 52.46 | 156750.74 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 899.00 | 113.30 | 141632.96 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| POWERINDIA | 31720.00 | 122.90 | 141383.54 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| SIEMENS | 3930.10 | 42.73 | 139958.92 | 0.46 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| GVT&D | 4363.00 | 598.22 | 111713.10 | 0.23 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3122.55 | 74.73 | 111200.41 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2596.00 | 19.57 | 74674.29 | 0.15 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17735.30 | 62.85 | 74261.85 | 0.34 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1150.00 | 44.19 | 72169.59 | 0.87 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 45.52 | 19.90 | 62570.14 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1194.30 | 155.40 | 28556.19 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| HPL | 301.65 | 21.26 | 1939.62 | 0.33 | 18.69 | 1.15 | 515.24 | 34.52 | 14.49 | 12.26 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 312 | 338 | 358 | 413 | 390 | 401 | 385 | 508 | 397 | 488 | 461 | 512 | 513 | |
| 275 | 294 | 310 | 361 | 336 | 346 | 331 | 435 | 343 | 427 | 394 | 430 | 490 | |
| Operating Profit | 37 | 44 | 47 | 53 | 54 | 56 | 53 | 74 | 54 | 61 | 67 | 82 | 23 |
| OPM % | 11.96% | 12.98% | 13.21% | 12.73% | 13.81% | 13.86% | 13.88% | 14.53% | 13.68% | 12.59% | 14.48% | 15.96% | 4.48% |
| 1 | 1 | 0 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | -5 | 2 | 1 | |
| Interest | 20 | 21 | 21 | 23 | 23 | 20 | 20 | 22 | 22 | 23 | 25 | 22 | 21 |
| Depreciation | 8 | 8 | 8 | 11 | 9 | 10 | 10 | 10 | 11 | 12 | 15 | 23 | 17 |
| Profit before Tax | 10 | 16 | 18 | 21 | 23 | 26 | 24 | 44 | 23 | 27 | 23 | 39 | 24 |
| Tax % | 35.49% | 35.10% | 36.97% | 36.06% | 25.61% | 25.35% | 25.54% | 26.11% | 25.51% | 25.51% | 24.69% | 26.42% | 25.51% |
| Net Profit | 6 | 10 | 12 | 13 | 17 | 19 | 18 | 33 | 17 | 20 | 17 | 29 | 18 |
| 1.01 | 1.56 | 1.80 | 2.05 | 2.61 | 3.03 | 2.77 | 5.08 | 2.64 | 3.15 | 2.67 | 4.46 | 2.79 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,115 | 927 | 1,000 | 1,103 | 925 | 850 | 1,004 | 1,215 | 1,421 | 1,684 | 1,974 | |
| 974 | 818 | 903 | 985 | 815 | 741 | 889 | 1,069 | 1,240 | 1,448 | 1,741 | |
| Operating Profit | 142 | 109 | 97 | 117 | 111 | 109 | 115 | 145 | 181 | 237 | 233 |
| OPM % | 12.69% | 11.76% | 9.67% | 10.64% | 11.95% | 12.82% | 11.50% | 11.97% | 12.74% | 14.05% | 11.80% |
| 5 | 5 | 4 | 4 | 4 | 3 | 4 | 3 | 4 | 4 | -1 | |
| Interest | 78 | 62 | 46 | 53 | 56 | 60 | 64 | 71 | 85 | 85 | 90 |
| Depreciation | 19 | 23 | 21 | 30 | 35 | 42 | 44 | 35 | 35 | 39 | 67 |
| Profit before Tax | 49 | 28 | 33 | 39 | 23 | 11 | 11 | 43 | 64 | 117 | 113 |
| Tax % | 24.12% | 28.78% | 30.90% | 31.83% | 28.12% | 26.14% | 34.48% | 35.08% | 36.00% | 25.73% | 25.66% |
| Net Profit | 37 | 20 | 23 | 26 | 17 | 8 | 7 | 28 | 41 | 87 | 84 |
| EPS | 7.98 | 3.63 | 3.55 | 4.10 | 2.60 | 1.24 | 1.11 | 4.32 | 6.42 | 13.50 | — |
| Dividend Payout % | 1.25% | 47.96% | 28.18% | 4.87% | 5.77% | 12.13% | 13.55% | 23.17% | 15.58% | 7.41% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 13%
- 3 Years:
- 19%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 39%
- 3 Years:
- 130%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 35%
- 3 Years:
- 9%
- 1 Year:
- -35%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 4%
- 3 Years:
- 6%
- Last Year:
- 10%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 46 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 | 64 |
| 309 | 639 | 650 | 668 | 683 | 691 | 696 | 723 | 756 | 836 | |
| 593 | 344 | 450 | 493 | 559 | 557 | 565 | 586 | 558 | 580 | |
| Trade Payables | 332 | 254 | 277 | 206 | 163 | 181 | 213 | 210 | 291 | 421 |
| 58 | 54 | 4 | 14 | 24 | 24 | 17 | 39 | 141 | 131 | |
| Total Liabilities | 1,339 | 1,355 | 1,444 | 1,445 | 1,494 | 1,517 | 1,556 | 1,622 | 1,809 | 2,032 |
| 350 | 371 | 392 | 412 | 451 | 422 | 404 | 406 | 418 | 456 | |
| Capital Work in Progress | 3 | 0 | 0 | 7 | 3 | 1 | 8 | 7 | 7 | 7 |
| 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | 54 | |
| 300 | 343 | 395 | 396 | 422 | 426 | 488 | 466 | 557 | 663 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 650 | 695 | |
| Cash & Bank | 58 | 59 | 61 | 57 | 56 | 67 | 69 | 62 | 51 | 53 |
| 574 | 527 | 542 | 519 | 508 | 547 | 534 | 626 | 72 | 104 | |
| Total Assets | 1,339 | 1,355 | 1,444 | 1,445 | 1,494 | 1,517 | 1,556 | 1,622 | 1,809 | 2,032 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 120 | -1 | 19 | 66 | 58 | 74 | 96 | 100 | 93 | 131 | |
| Cash from Investing | -92 | -47 | -52 | -47 | -58 | -4 | -37 | -36 | -37 | -70 |
| Cash from Financing | -16 | 56 | 44 | -17 | 4 | -63 | -55 | -65 | -67 | -59 |
| 4 | 1 | 1 | -4 | -1 | 5 | 1 | -7 | -11 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - HPL Electric & Power Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - HPL Electric & Power Limited has informed the Exchange about General Updates
2026-09-01 - HPL Electric & Power Limited has informed the Exchange that Record date for the purpose of Dividend is 17-Sep-2026.
2026-09-01 - HPL Electric & Power Limited has informed the Exchange regarding Notice of undefined to be held on September 24, 2026
2026-09-01 - HPL Electric & Power Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-28 - HPL Electric & Power Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-17 - HPL Electric & Power Limited has informed the Exchange about Transcript
2026-08-11 - HPL Electric & Power Limited has informed the Exchange about Link of Recording
2026-08-11 - HPL Electric & Power Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for HPL
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