HPL Electric & Power Limited announced its consolidated financial results for the quarter ended June 30, 2026, reporting record first-quarter performance.

Financial Performance

  • Revenue from operations reached ₹515.24 crore in Q1 FY27, representing 34.52% year-over-year growth from ₹383.03 crore in Q1 FY26
  • Gross profit increased 7.21% YoY to ₹156.15 crore, though gross margin declined to 30.31% from 38.03% in Q1 FY26
  • EBITDA grew 8.94% YoY to ₹63.18 crore, with EBITDA margin at 12.26% compared to 15.14% in Q1 FY26
  • PAT increased marginally by 1.15% YoY to ₹18.69 crore
  • Employee expenses increased 9.42% to ₹58.08 crore
  • Other expenses remained nearly flat at ₹34.89 crore (0.91% increase)
  • Finance cost declined 2.32% to ₹22.08 crore
  • Depreciation increased significantly by 56.55%

Segment Performance

Consumer & Industrial Segment:

  • Revenue grew 55.00% YoY to record ₹277.59 crore (up from ₹179.09 crore in Q1 FY26)
  • Segment share increased to approximately 54% of consolidated revenue from 47% in Q1 FY26
  • Wires & Cables revenue surged 78.6% YoY to ₹145.75 crore
  • Lighting & Electronics revenue increased 78.1% YoY to ₹56.19 crore
  • Industrial Switchgear grew 19.0% YoY
  • Domestic Switchgear increased 6.9% YoY

Metering, Systems & Services Segment:

  • Revenue grew 16.53% YoY to ₹237.65 crore (from ₹203.94 crore in Q1 FY26)
  • EBIT margin stood at 14.18% compared to 17.67% in Q1 FY26
  • Strong sequential pick up from Q4 FY26 levels

Order Book & Business Visibility

  • The company maintains a robust order book of ₹3,200+ crore as of August 7, 2026
  • Over 96% of the order book relates to Metering, Systems & Services segment
  • Provides longer-term execution visibility for the business

Management Commentary

Mr. Gautam Seth, Joint Managing Director & CFO, commented on the performance:

  • Q1 FY27 represents a strong start to the year with highest-ever first-quarter revenue
  • Consumer & Industrial segment demonstrated broad-based growth across product categories
  • Metering segment growth remains execution-led with variability linked to AMISP schedules
  • Pricing and product-mix actions underway to progressively restore margin performance
  • Focus remains on disciplined execution, R&D-led differentiation, and converting capacity investments into sustainable earnings growth

Operational Capacity

  • Seven manufacturing facilities with annual capacity of approximately:
  • 11 million electronic meters
  • 26 million lighting units
  • 16 million switchgear units
  • 194 million metres of Wires & Cables
  • Two R&D centres with more than 100 engineers
  • Pan-India distribution network comprising 90+ branch offices, 900+ authorized dealers, and 85,000+ retailers