Q1 2027 HPL Electric & Power Ltd Earnings Call Transcript
Key Points
- Revenue from operations grew 35% year-on-year to INR 515 crores, the highest ever first quarter revenue, with C&I segment growing 55% and wire and cable revenue up 79%.
- Smart metering order book stands at INR 3,200 crores, providing strong medium-term revenue visibility and execution-led growth.
- Consumer and Industrial segment achieved its highest ever quarterly revenue of INR 278 crores, contributing 54% of total revenue, with growth broadening across lighting (up 78%) and industrial switchgear (up 19%).
- Distribution network expanded to over 900 authorized dealers and 85,000 retailers, supporting channel-led growth and cross-selling initiatives.
- Cash profit increased by 21% year-on-year, and finance costs have declined in absolute terms over the last three quarters.
- EBITDA margins moderated to 12.26% due to input cost volatility, particularly in metals and industrial plastics, driven by geopolitical disruptions.
- Gross margins compressed from 38% to 30% year-on-year, impacted by raw material inflation and a changing revenue mix.
- Higher depreciation from capacity investments moderated the translation of operating growth into PAT.
- Smart metering margins dropped by approximately 3% due to sudden price hikes in industrial plastics and metals, with a time lag in passing on costs.
- Manpower costs increased significantly due to a 40% rise in minimum wages in Haryana, adding to cost pressures.
Ladies and gentlemen, very good afternoon to you all, and thank you for joining us today for HPL Electric and Power Limited's Q1 FY27 earnings webinar produced by Elavis. So I am Shankini. I am the Director of Investor Relations from Dickinson, and I will be moderating our call today. Great. So joining us from the HPL management team is Mr. Gautam Seth. He's the Joint Managing Director and CFO.
(Operator Instructions) I will now hand over to you, Gautam, to begin with opening remarks.
Yeah.
Thank you, Shankini.
Good afternoon everyone and thank you for joining us today.
Q1 FY27 has been a strong start for the year for HPL Electric. Revenue from operations grew 35% year-on-year to 515 crores, our highest ever first quarter revenue and remained above INR 500 crore level despite Q1 typically being a seasonally. Lighter quarter. EBITDA grew 9% to INR 63 crores, while PAT increased to INR 19 crores. More importantly,
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