HPL Electric & Power Ltd Reports Stellar Fiscal Year 2024 Results


HPL Electric & Power Ltd. (HPL), a leading manufacturer of electrical equipment, today announced its financial results for Q4FY2024 and for the fiscal year ended March 31, 2024. The Company delivered significant growth in revenue and profitability, driven by robust sales across its Metering, Systems & Services segments, and strategic advancements in smart metering technology.

The company achieved a 15.74% increase in revenue from operations, reflecting its ability to capitalize on market opportunities and drive top-line expansion. HPL also showcased significant improvement in profitability, with reported PAT surging by 44.22% to ₹43.63 crore in FY24, underscoring the effectiveness of the company’s strategies to enhance operational efficiency and maximize performance.

HPL reported a year-over-year revenue increase of 17% in Q4 FY23-24, with revenues rising to ₹42,409.28 lakh from ₹36,275.30 lakh in Q4 FY22-23. This quarterly increase contributed to an annual revenue growth of 15.74%, reaching ₹1,460.86 crore in FY24, up from ₹1,262.21 crore in FY23.

HPL’s gross margin improved by 198 basis points YoY in Q4 FY23-24, reflecting a rise to 34.28% from 32.30% in Q4 FY22-23. For the full year, the gross margin increased by 92 basis points to reach 34.23% in FY24 from 33.31% in FY23.

HPL’s PAT increased by 21.74% YoY in Q4 FY23-24, amounting to ₹1,371.74 lakh compared to ₹1,126.76 lakh in Q4 FY22-23. Over the fiscal year, PAT rose by 44.22%, reaching ₹43.63 crore in FY24, which underscores the company’s operational efficiency and strategic focus.