HPL Electric and Power reports Q4 & FY2022 Results

HPL reports Q4 FY2022 Results; Jump In Consumer Segment Business

By Saur News Bureau/ Updated On Tue, May 31st, 2022

Highlights :

HPL held that its consumer electrical segment surged by 23% YOY to Rs. 672 crore in FY22 as compared to Rs. 549 crore in FY21.
HPL also said that EBITDA for FY22 stood at ₹ 125 crore and EBITDA margin at 12.3%. It also held that the Cash Profit during FY22 was ₹ 61 crore.

HPL reports Q4 FY2022 Results; Jump In Consumer Segment Business

Electric equipment manufacturer HPL Electric and Power Ltd has announced its financial results for the Quarter and Year ended March 31st, 2022. The company has indicated a strong performance in the Consumer segment (B2C) business.

According to the official statement released by HP Electric and Power, the wire and cable segment revenue grew by 72% year-on-year (YOY) to Rs. 143 crore in financial year (FY) 2022; the switchgear segment grew by 28% to Rs. 206 crore; the meter segment revenue grew by 7% to Rs. 404 crore; and the lighting segment revenue expanded by 4% to Rs 260 crore.

HPL held that it’s Consumer electrical segment surged by 23% YOY to Rs. 672 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. HPL said that positive customer sentiments and associated demand are visible in exports as well. The export revenue of HPL also surged by 63% in Q4 of FY22 and overall 48% in FY22.

Interaction with Neelaksh Pathak, Manager – BD (Solar), HPL Electric & Power Ltd

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HPL also said in the official statement that EBITDA for FY22 stood at ₹ 125 crore and EBITDA margin at 12.3%. Cash Profit during FY22 was ₹ 61 crore.

Gautam Seth, Joint Managing Director and CFO, HPL Electric and Power, 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 plus crore milestone in FY22. Our EBITDA also improved YoY by 5% to reach Rs. 125 crore in FY22.”

The CFO added that 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 the smart meters segment 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.”