HPL Electric & Power Limited — Investor Meet, 29-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

HPL Electric posted FY25 revenue of ₹1,700 crore, up 16% YoY, with EBITDA jumping 33% to ₹255 crore (15% margin) and PAT doubling to ₹90 crore+. Q4 saw ₹493 crore revenue, 16.7% EBITDA margin, and ₹37 crore PAT. The ₹3,500 crore order book is fully from smart meter projects, driving multi-year visibility. Wires & cables rose 20%, switchgear and lighting improved steadily, and fan business is scaling via phased pan-India rollout. FY26 CapEx is ~₹100 crore for automation and capacity expansion. Metering margins are expected at 17-18%, consumer-industrial at 11.5-12%. Working capital and credit metrics improved, supporting stable interest costs. Management is confident about robust growth driven by electrification, cost optimization, and automation despite pricing pressures.