The share price fell from Rs 73.35 to Rs 89.50.
Shares of HPL Electric and Power rose 18.34% from its opening price of 73.35 rupees to its closing price of 89.50 rupees. The 52-week high for the stock is Rs 89.50 and the 52-week low is Rs 50.80. The current market capitalization of the company is Rs 498 Crore. The volume of the stock on BSE is up more than 18.59 times today. The stock has a P/E ratio of 16.7 right now.
An established manufacturer of electrical equipment in India, HPL Electric and Power produces a wide range of products for the consumer and institutional markets in the electrical equipment industry, including metering systems, switchgear, lighting equipment, wires and cables. With a market share of 50%, the company is the country’s largest producer of charging switches. In addition, it holds a 20% market share in the electricity metering product industry. It ranks fifth among LED producers in the country. The company has seven well-equipped manufacturing sites in Himachal and Haryana.
In terms of productivity breakdown: 52% for measurement products, 22% for lighting and electronics, 19% for switchgear and 7% for wires and cables. The B2B and B2C segments represent more than 50% of the company’s total turnover.
HPL is one of the few participants to receive the Empanelment certificate after undergoing rigorous testing at the Central Power Research Institute (CPRI) laboratory.
It exports its best engineering products to more than 42 countries in Asia, Africa, Europe, UK and Indian subcontinent through overseas logistics partners.
The company’s results in the first quarter of FY23 were excellent. The top line increased from Rs 129 crore to Rs 296 crore QOQ, an increase of 129%. Additionally, operating profit increased dramatically by 283% in Q0Q for FY23Q1 to Rs 38 crore.