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HPL Electric & Power delivered a strong Q1FY27, with revenue up 34.5% YoY to ₹515.24 Cr.
**Business Performance:** The Consumer & Industrial (C&I) segment surged 55% YoY to ₹277.59 Cr, now making up 54% of revenue. Wires & Cables led the charge with 78.6% growth to ₹145.75 Cr, while Lighting also grew 78.1%. Smart Metering revenue increased 16.53% YoY to ₹237.65 Cr, showing steady momentum. Gross Profit rose 7.21% to ₹156.15 Cr, and EBITDA increased 8.94% to ₹63.18 Cr (margin 12.26%). PAT stood at ₹18.69 Cr (EPS ₹2.90) and Cash Profit at ₹35.77 Cr (Cash EPS ₹5.56). Management noted temporary margin moderation due to input cost volatility.
**Growth Drivers/Strategy:** HPL's FY27 strategy centers on scaling both its C&I and Smart Metering verticals while restoring margins. The company is driving healthy growth in its 'Consumer' business through continuous product innovation (like the new KYRO modular switches), enhanced distribution, and brand building. Smart Metering is bolstered by a ₹3,200+ Cr order book and government initiatives.
**Recent Developments:** Launched the KYRO modular switch range and the Neeram Pulse smart water meter. Actively participated in several international and domestic exhibitions.
**Management Commentary/Outlook:** The focus for FY27 is clearly on scaling both business verticals and improving margins, with the substantial smart metering order book providing solid revenue visibility for the short to medium term.