HPL Electric secures ₹66 crore order for supply of smart meters

Electrical equipment maker HPL Electric & Power Limited on Thursday (September 25) said it has received a work order worth ₹65.72 crore, inclusive of taxes, from one of its regular leading customers. The order is for the supply of smart meters.

The company said the order falls under the normal course of business and will be executed in line with the terms and conditions of the purchase order and notification of award.

In March this year, HPL Electric & Power said that it received orders valued at ₹369.90 crores (inclusive of taxes) from its regular customers for the supply of smart meters.

Also Read: HPL Electric bags work orders worth ₹143.8 crore for the supply of smart meters

The orders are part of the company’s ongoing business operations and will be executed in accordance with the terms and conditions of the respective purchase orders and supply agreements, the company said.

The company specialises in metering solutions, switchgears, LED lighting, wires & cables, solar solutions, and modular switches. The company has seven manufacturing units in northern India, including two at Gurgaon, one each at Sonipat, Panipat, Kundli, Gharaunda, all in Haryana and one at Jabli in Himachal Pradesh.

Shares of HPL Electric & Power Ltd ended at ₹484.55, up by ₹17.80, or 3.81%, on the BSE.

Also Read:₹2,100 Crore Smart Meter Order: HPL Electric shares surge 13% post award