HPL Electric & Power Records Highest-Ever Q1 Revenue at ₹515 crore; Consumer Segment Grows 55% YoY

HPL Electric & Power Records Highest-Ever Q1 Revenue at ₹515 crore; Consumer Segment Grows 55% YoY​

HPL Electric & Power Limited has announced consolidated financial results for the quarter ended June 30, 2026, reporting a record first-quarter revenue of ₹515.24 crore. The company saw broad-based growth across its product verticals, while Consumer and Industrial (C&I) revenue surged by 55.0% year-on-year to reach ₹277.59 crore.

The results highlight the increasing strength of HPL’s C&I platform. Alongside this commercial success, Metering, Systems & Services revenue grew 16.53% year-on-year (YoY) to ₹237.65 crore. The company reported that Consumer and Industrial revenue represented approximately 54% of consolidated revenue in Q1 FY27, up from 47% in the corresponding quarter of FY26.

Consolidated financials show revenue from operations growing by 34.52% YoY, standing above the ₹500 crore level despite Q1 typically being a seasonally lighter period for the company. The operating profitability saw growth but reflected margin pressures caused by input-cost volatility and changing revenue mixes. Gross profit rose 7.21% YoY to ₹156.15 crore.

The consolidated financial performance across Q1 FY27 compared to Q1 FY26 is detailed in the table below:

Segmental Growth and Market Visibility​

The performance across the two main segments indicates a shift in the revenue mix, moving from 53% Metering / 47% C&I in Q1 FY26 to 46% Metering / 54% C&I in Q1 FY27.

In the Consumer and Industrial segment, growth was broad-based across several product lines. Wires & Cables revenue grew by 78.6% YoY to ₹145.75 crore. Lighting and Electronics increased by 78.1%, while Industrial Switchgear saw a rise of 19.0%, and Domestic Switchgear rose 6.9%.

For the Metering, Systems & Services segment, revenue grew by 16.53% YoY to ₹237.65 crore. The company maintained that it has strong execution visibility, supported by an order book exceeding ₹3,200 crore, with over 96% of this booking related to Metering, Systems & Services.

The segment-wise financial snapshot is as follows:

Management Commentary on Growth and Margin Focus​

Mr. Gautam Seth, Joint Managing Director and CFO of HPL Electric & Power Limited, commented on the strong Q1 FY27 results. He noted that the quarter demonstrated increasing breadth in HPL's growth profile, noting C&I’s performance compared with Q1 FY26.

Seth highlighted that Wires & Cables revenue alone grew 78.6% YoY to ₹145.75 crore, contributing significantly toward the segment’s volume-led growth. The diversified participation across products like Lighting and Industrial Switchgear reinforced C&I's status as a diversified growth platform.

Regarding Smart Metering, Seth stated that while revenue grew by 16.53% YoY, the market is progressing into a more mature execution phase, with quarterly results influenced by AMISP procurement and dispatch schedules. HPL views this segment as a long-duration opportunity, backed by its manufacturing scale and utility relationships.

While EBITDA saw growth during the quarter, Seth acknowledged that margins reflected input-cost volatility and changing revenue mixes. He confirmed that pricing and product-mix actions are underway to progressively improve margin quality across both businesses.

HPL Stock Price Movement​

Shares of HPL Electric & Power Limited closed lower today, shedding 0.38% and settling at ₹339.5. The equity traded within a daily range of ₹336.35 to ₹346.2 on a volume of 105,895 shares.