| Metric | Value (₹ Cr) | Q4 FY25 |
|---|---|---|
| Revenue | 519.70 | 5.5% |
| Total Income | 521.65 | 5.4% |
| Expenditure | 479.82 | 8.1% |
| PBT | 41.83 | 18.1% |
| Net Profit | 30.90 | 17.1% |
| OPM | 16.51% | 0.19pp |
| NPM | 5.92% | 1.61pp |
| EPS | 4.80 | 17.0% |
HPL Electric FY26 Revenue Crosses ₹1,800 Cr, Up 6.52% YoY
27 May 2026 · 27 May, 4:43 pm
Summary
HPL Electric & Power Limited reported its highest-ever quarterly revenue in Q4 FY26, reaching ₹519.70 crore, up 5.52% year-on-year. For the full fiscal year 2026, revenue from operations grew 6.52% to ₹1,811.10 crore, with EBITDA expanding 10.52% to ₹281.43 crore and EBITDA margin improving to 15.54%. While reported PAT moderated slightly to ₹91.25 crore due to higher depreciation and input-cost timing, the company highlighted the strong emergence of its Consumer & Industrial segment, which saw a 25.62% revenue increase, and a sequential recovery in Smart Metering. Management is focused on scaling both growth engines in FY27 while protecting margins through various strategic actions.
Key Highlights
- 1
HPL Electric & Power Limited achieved its highest-ever quarterly revenue in Q4 FY26, crossing ₹500 crore for the first time to reach ₹519.70 crore, representing a 5.52% year-on-year increase.
- 2
For the full fiscal year 2026, revenue from operations stood at ₹1,811.10 crore, marking a 6.52% year-on-year growth.
- 3
FY26 EBITDA grew by 10.52% year-on-year to ₹281.43 crore, with the EBITDA margin expanding by 56 basis points to 15.54%.
- 4
Reported Profit After Tax (PAT) for FY26 was ₹91.25 crore, compared with ₹93.99 crore in FY25, primarily due to higher depreciation and temporary input-cost timing.
- 5
The Consumer & Industrial business emerged as a second core growth engine, with revenue increasing 25.62% year-on-year to ₹784.67 crore in FY26.
- 6
Within the Consumer & Industrial segment, Wires & Cables revenue was a standout performer, growing 50.0% year-on-year to ₹340.74 crore in FY26.
- 7
The Company's order book stands at over ₹3,200 crore as of May 22, 2026, with Smart Metering, Systems & Services accounting for more than 97% of this.
Management Comments
Mr. Gautam Seth
FY26 marks a clear transition in HPL's growth profile. Revenue crossed Rs.1,800 crore for the year and Q4 revenue crossed Rs.500 crore for the first time, while EBITDA and cash profit expanded faster than revenue. The year also validated the emergence of Consumer & Industrial as a second core growth engine, led by Wires & Cables, product expansion and deeper channel engagement. Smart Metering witnessed an industry-wide execution disruption earlier in the year; however, Q4 reflected a clear sequential recovery as AMISP procurement and installation activity resumed. Reported PAT moderated mainly due to higher depreciation following capacity additions and temporary input-cost timing, but the underlying operating trajectory remains strong. Our FY27 focus is to scale both growth engines while protecting margins through pricing discipline, product mix improvement, R&D-led differentiation and calibrated capacity expansion.
Informational and educational content only. Not investment advice.