HPL Electric & Power Limited has notified stock exchanges regarding the name changes of two of its promoter companies, as mandated under SEBI regulations. The announcement was made on December 11, 2025, through official communications to both NSE and BSE.

Details of Name Changes

The company has informed that two promoter entities have undergone name modifications as detailed below:

Regulatory Compliance and Documentation

The notification was made pursuant to Regulation 30 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Fresh Certificates of Incorporation consequent upon the name changes have been issued by the Registrar of Companies, New Delhi, under the Companies Act, 2013 to both promoter companies.

Impact on Company Operations

HPL Electric & Power Limited has specifically clarified that there will be no change or impact on the management and control of the company due to these name changes of the promoter entities. The operational structure and governance framework of the listed entity remain unchanged.

Corporate Communication

The formal intimation was signed by Vivek Kumar, Company Secretary of HPL Electric & Power Limited, and sent to the listing departments of both major stock exchanges. The company has requested the exchanges to update their records accordingly to reflect the new names of the promoter companies.

HPL Electric & Power Limited , a leading manufacturer of electrical equipment, has reported a mixed set of financial results for the second quarter and first half of fiscal year 2026, with significant growth in its Consumer Industrial segment.

Revenue Growth and Segment Performance

HPL Electric & Power saw its revenue from operations grow by 3% year-over-year to ₹434.45 crore in Q2 FY26, up from ₹422.32 crore in the same quarter last year. The Consumer Industrial segment emerged as the standout performer, growing 30% in Q2 and 23% in H1, now contributing 47% of total revenue.

The Metering, Systems & Services segment, however, experienced a 13.32% decline in revenue, coming in at ₹229.20 crore for the quarter. The company attributed this decrease to slower project inspections and dispatch clearances during the monsoon season.

Profitability and Margins

Despite the revenue growth, HPL Electric & Power faced some pressure on its margins:

While the company managed to improve its EBITDA and maintain profitability, the growth in net profit did not keep pace with the revenue increase, indicating some margin pressure.

Segment-wise Performance

The Consumer & Industrial segment saw its EBIT margin expand from 10.30% to 10.98% year-on-year in Q2. This improvement reflects stronger operating leverage and an improved product mix.

The Metering, Systems & Services segment, despite the revenue decline, saw its EBIT margin improve to approximately 17.5% in Q2 FY26. The company cited pricing discipline, procurement efficiencies, and a higher share of smart-meter projects as factors contributing to this margin improvement.

Order Book and Future Outlook

HPL Electric & Power maintains a robust order book exceeding ₹3,300 crore, with approximately 99% comprising smart meters. This substantial order book provides long-term execution visibility and reinforces the company's leadership position in India's smart metering transformation.

The company expects strong growth in Q3 and Q4 driven by confirmed delivery schedules from AMISPs (Advanced Metering Infrastructure Service Providers). Management anticipates a further step-up in deliveries as on-ground inspections and clearances accelerate.

Management Commentary

Gautam Seth, Joint MD & CFO of HPL Electric & Power, commented on the results: "Our Q2 and H1 FY26 performance underscores the resilience of our model and an unmistakable tilt towards margin-led growth. While revenues were broadly stable, gross and EBITDA margins expanded further, with EBITDA holding above 15 percent and PAT margin around 5 percent."

He added, "The Consumer & Industrial franchise grew 30 percent in Q2 and 23 percent in H1, now accounting for about 47 percent of revenues, with wires & cables and domestic switchgear leading the way and our Lighting portfolio returning to healthy double-digit growth after a softer phase."

Conclusion

HPL Electric & Power has demonstrated strong growth in its Consumer Industrial segment, which now contributes significantly to the company's revenue. While facing some challenges in the Metering segment, the company's robust order book, focus on smart metering solutions, and expected growth in the coming quarters position it well for future performance. Investors and analysts will be watching closely to see if the company can maintain its growth momentum while improving profitability in the coming quarters.