HPL Electric and Power Ltd reports Q4 & FY2022 Results

• Revenue grows 16% YoY to ₹ 1,014 Crore in FY22
• Switchgear and Wire & Cable’ segment registers a revenue growth of 28% and 72% YoY for FY22

NOIDA, India, May 30, 2022 /PRNewswire/ — HPL Electric and Power Ltd (referred to as the “Company”) (NSE Symbol: HPL) (BSE Scrip Code: 540136), an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, announced its financial results for the Quarter and Year ended March 31st, 2022.

Consolidated Performance Highlight

 

 

• Strong performance in Consumer segment (B2C) business
• The wire and cable segment revenue grew by 72% YOY to Rs. 143 crore in FY22; the switchgear segment grew by 28% to Rs. 206 crore in FY22; the meter segment revenue grew by 7% to Rs. 404 crore in FY22; and the lighting segment revenue grew by 4% to Rs 260 crore in FY22.
• The Consumer electrical segment surged by 23% YOY to Rs. 672.6 crore in FY22 as compared to Rs. 549 crore in FY21. These increments in the consumer electrical segment resulted from a favourable demand pattern due to the reopening of the economy. Positive customer sentiments and associated demand are visible in the export as well. Export revenue surged by 63% in Q4FY22 and 48% in FY22.
• EBITDA for FY22 at ₹ 125 crore; EBITDA margin at 12.3%
• Cash Profit during FY22 stood at ₹ 61 crore.

Mr. Gautam Seth, Joint Managing Director and CFO, said, “Despite a challenging economic environment, we are pleased to report that we registered a commendable 16% growth YoY in our revenue to cross the Rs. 1,000+ crore milestone in FY22. Our EBITDA also improved YoY by 5% to reach Rs. 125 crore in FY22.

The industry is steadily improving, and the demand for the metering segment is once again reviving, with demand coming from both the B2B and B2C quarters. Favourable government policies such as the National Smart Grid Mission (NSGM) and Integrated Power Development Scheme (IPDS), coupled with Revamped Distribution Sector Scheme (RDSS), are helping smart meters rejuvenate. As the economy returns back to operating at pre-Covid levels, both the public and private sector industries are shifting their interest toward the smart meter. By the close of FY22, our meter order book stood at Rs. 337 Crore, giving us strong visibility for this business. The consumer electric segment has seen a good growth since past 2 years and we see that trend to continue.

Our window to the future looks encouraging. The Company is squarely focused on increasing its market share through its diversified portfolio of electrical equipment. We are optimistic that our short and long-term goals and efforts, with our dedicated research and development capability, will lead to multiple value creation opportunities.”

Robust Order Book & Strong Revenue Visibility

• The consolidated current order book as of 31^st March 2022, stands at ₹ 748 crore (net of GST), comprising of:
• Metering orders of ₹ 337 crore
• Switchgear orders of ₹ 184 crore
• Lighting orders of ₹ 72 crore
• Wires & Cables orders of ₹ 155 crore

About HPL Electric and Power Ltd

HPL is an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including metering solutions, switchgear, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry. HPL had the largest market share in India’s electricity energy meters market, with one of the most comprehensive portfolios of meters in India and the fifth largest market share for LED lamps during the corresponding period (Source: Frost & Sullivan Report, February 2016). HPL’s manufacturing capabilities are supported by an extensive sales and distribution network with a pan-India presence. HPL currently manufactures and sells its products under the umbrella brand ‘HPL’, registered in India since 1975.

For further information on HPL Electric & Power Limited, see www.hplindia.com

Safe Harbor

This release contains statements that contain “forward-looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to HPL Electric and Power Ltd’s future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. HPL Electric and Power Ltd undertake no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.

Source link