HPL Electric & Power Limited — Credit Ratings, 26-06-2026: Credit Rating

India Ratings (Ind-Ra) has affirmed HPL Electric & Power's bank loan facilities at 'IND A+/Stable/IND A1'. This reflects a robust order book of INR 3,750 Cr (97% smart meters) and improved FY26 revenue of INR 1,810 Cr with EBITDA of INR 280 Cr. The 'Stable' outlook considers challenges like high working capital and moderate debt metrics.