HPL Electric Secures Rs 2,100.71 Crore Smart Meter Order

HPL Electric & Power has received a significant work order valued at Rs 2,100.71 crore from its regular leading customers for the supply of smart meters. This order will be executed under the specific terms and conditions outlined in the letter of award. This new contract adds to the company's robust business pipeline.

In the previous financial year, HPL Electric reported an impressive order book of over Rs 1,500 crore, with the metering and systems segment contributing nearly 82 percent. This latest order reinforces the company’s leading position in the smart metering industry and demonstrates continued customer trust and demand for their products.

Earlier this month, HPL Electric strengthened its strategic partnerships by signing a memorandum of understanding (MoU) with Guangxi Ramway Technology, China. This collaboration aims to enhance local manufacturing through phased manufacturing, technical tie-ups, and procurement for the assembly of relay and latching relays in India.

The partnership with Guangxi Ramway Technology is expected to bolster HPL Electric's manufacturing capabilities and expand its product offerings in the Indian market. This move aligns with the company's vision to drive innovation and efficiency in the power sector.

With these developments, HPL Electric is poised for substantial growth, solidifying its market presence and enhancing its product portfolio to meet evolving industry needs.

News by Rahul Yelligetti