HPL Electric & Power has set aside a capital expenditure plan of Rs100 crore for the fiscal year 2025-26 to bolster the company’s manufacturing capabilities, focusing on the production of smart meters, switchgear, and wires and cables.

The CapEx will be allocated towards both maintenance and new initiatives, including the automation of manufacturing processes to enhance efficiency and product quality. A significant portion of this investment will be directed towards the expansion of smart meter production facilities, aligning with the company’s commitment to supporting India’s smart grid initiatives. Additionally, investments in switchgear and wire and cable segments will cater to the growing demand in these markets.

This investment follows a period of robust financial performance for HPL Electric & Power Ltd.In the nine months ending December 31, 2024, the company reported a 16.5% year-over-year increase in revenue, reaching INR 1,207.71 crore. The metering and systems segment, which includes smart meters, grew by 27.6% during this period, underscoring the company’s leadership in this sector.

As of February 10, 2025, HPL’s order book stood at over INR 3,400 crore, with more than 95% linked to metering and 99% of that specific to smart meters. This substantial order pipeline reflects the company’s strong market position and the increasing demand for smart metering solutions in India.