HPL Electric & Power Ltd.

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hplindia.comBSE: 540136NSE: HPL

Market Cap₹ 1,940 Cr.

Current Price

High / Low₹ 508 / 256

Stock P/E23.1

Book Value₹ 155

Price to Book2.95

Dividend Yield0.33 %

ROCE13.9 %

ROE10.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Metering: 62.9% • Consumables & Industrial: 37.1%

AI Sector View

AI GENERATED

Capital Goods

Buy

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.

Confidence

72%

View full sector analysis →

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

Capital GoodsCapital GoodsElectric Equipment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ABB	7397.10	52.46	156750.74	0.53	3623.00	930.02	35588.70	1110.31	30.18	12.56
2.	CGPOWER	899.00	113.30	141632.96	0.14	308.28	15.52	3280.81	13.99	27.94	12.11
3.	POWERINDIA	31720.00	122.90	141383.54	0.03	2941.50	2135.18	24936.90	1586.18	28.73	14.58
4.	SIEMENS	3930.10	42.73	139958.92	0.46	214.31	-49.38	4713.70	8.44	21.42	9.14
5.	GVT&D	4363.00	598.22	111713.10	0.23	362.99	24.65	1836.14	38.04	75.51	25.10
6.	ENRIN	3122.55	74.73	111200.41	0.13	440.90	67.83	2485.60	39.28	40.19	23.56
7.	WAAREEENER	2596.00	19.57	74674.29	0.15	891.87	15.39	7931.79	79.22	37.92	18.15
8.	APARINDS	17735.30	62.85	74261.85	0.34	4674.50	1677.98	65910.60	1191.31	31.84	11.50
9.	HAVELLS	1150.00	44.19	72169.59	0.87	289.71	-16.64	6518.19	19.48	25.74	7.15
10.	SUZLON	45.52	19.90	62570.14	0.00	305.22	-5.89	3829.09	22.83	35.79	15.55
11.	SCHNEIDER	1194.30	155.40	28556.19	0.00	12.44	-69.84	651.36	4.78	31.01	5.23
12.	HPL	301.65	21.26	1939.62	0.33	18.69	1.15	515.24	34.52	14.49	12.26

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.66	72.66	72.66	72.66	72.66	72.66	72.66	72.66	72.66
	0.74	0.51	0.58	0.31	0.70	0.34	0.28	0.51	0.75
	0.23	0.23	0.23	0.26	0.30	0.19	0.10	0.10	0.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.38	26.60	26.54	26.77	26.34	26.81	26.97	26.73	26.50

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Copy of Newspaper Publication

2026-09-02 - HPL Electric & Power Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

General Updates

2026-09-02 - HPL Electric & Power Limited has informed the Exchange about General Updates

2026-09-01

Record Date

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

Shareholders meeting

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

Shareholders meeting

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

Copy of Newspaper Publication

2026-08-28 - HPL Electric & Power Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - HPL Electric & Power Limited has informed the Exchange about Transcript

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - HPL Electric & Power Limited has informed the Exchange about Link of Recording

2026-08-11

Copy of Newspaper Publication

2026-08-11 - HPL Electric & Power Limited has informed the Exchange about Copy of Newspaper Publication

News

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