What HPL Electric & Power does

HPL Electric & Power Limited is an India-based, publicly listed (BSE: 540136) multi-product electrical equipment manufacturer founded in 1992 and headquartered in Sonipat, Haryana. The company operates seven manufacturing units and serves utilities, industrial/commercial customers, residential consumers, and international markets through a portfolio spanning smart electricity meters, AMR/prepaid meters, modular switches, switchgear (MCBs, changeover switches, distribution boards), LED lighting, wires and cables, solar solutions, and fans. HPL holds the largest market share in electronic energy meters in India and is recognized as the oldest manufacturer of LV switchgears in the country.

Revenue is generated almost entirely through hardware sales across three reporting streams: Smart Metering & Systems (97%+ of order book, dominant), Consumer & Industrial Products (INR 784 crore in FY26, +26% YoY), and Wire & Cables (INR 340 crore in FY26, +50% YoY), with FY26 consolidated revenue of INR 1,811.10 crore. Go-to-market combines a direct corporate sales team for enterprise and government contracts — including smart meter supply to Indian DISCOMs under the Revamped Distribution Sector Scheme (RDSS) and Smart Meter National Programme, and a recent INR 242.24 crore order from GMR Group — with a tiered distribution network of 900+ dealers, 90 branch offices, and 85,000+ retailers for consumer and industrial products. Strategic technology moves include the January 2026 launch of 'Neeram Pulse' smart water meters (with a new Gurugram manufacturing plant), a February 2025 partnership with Wirepas for advanced AMI connectivity, and the June 2026 launch of 'Kyro' modular switches, positioning the company to participate in the INR 60,000–90,000 crore India smart metering opportunity and adjacent water utility markets.

Name

HPL Electric & Power

Legal name

HPL Electric & Power Limited

Website

https://hplindia.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

HPL Electric & Power is a publicly listed Indian electrical equipment manufacturer (BSE: 540136) producing smart meters, switchgear, LED lighting, wires, cables, modular switches, and solar solutions for utilities, industrial/commercial customers, and residential consumers across India and select international markets.

Ownership category

akta.pro rank

Product category

Electrical Equipment Manufacturing

NAICS

Switchgear and Switchboard Apparatus Manufacturing (335313), Electrical Equipment Manufacturing (33531), Wiring Device Manufacturing (33593), Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515), Relay and Industrial Control Manufacturing (335314), Totalizing Fluid Meter and Counting Device Manufacturing (334514)

SIC

Switchgear & Switchboard Apparatus (3613), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Electric Lighting & Wiring Equipment (3640), Electrical Industrial Apparatus (3620), Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Electric Housewares & Fans (3634)

akta.pro primary industry

AMI Smart Meters (Electric) & Meter Hardware (EUADAFAA)

akta.pro secondary industries

Medium/Low-Voltage Power Distribution (MCCs, Panels, UPS, Grounding) (EUAEAFAB), Low-Voltage Switchboards & Panelboards (LV distribution panels, MCCs, switchboards) (IMAGAEAA), Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF)

Keywords

• Smart metering solutions
• Electrical switchgear products
• LED lighting systems
• Wires and cables
• Modular switches

Headquarters

HQ city

Noida

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Smart Metering & Systems: Revenue from smart electricity meters and advanced metering infrastructure. Dominant segment accounting for over 97% of order book. Includes smart meters, AMR meters, and prepaid meters for utilities and industrial applications.
2. Consumer & Industrial Products: Revenue from switchgears, modular switches, LED lighting, wires & cables, solar solutions, and fans. C&I segment grew 26% to INR 784 crores in FY26.
3. Wire & Cables: Revenue from domestic and industrial wires, specialty cables, data networking and transmission cables. Wire & Cables division surged 50% to INR 340 crores in FY26.
4. Smart Water Meters: Newly launched Neeram Pulse smart water metering solution marking entry into digital water metering segment. Targets global market projected to grow from USD 4.6 billion in 2024 to USD 9.0 billion by 2030.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

HPL Electric & Power manufactures and sells a comprehensive range of electrical equipment including smart electricity and water meters, switchgears (MCBs, distribution boards, changeover switches), modular switches, LED lighting, wires and cables, solar solutions, and fans. The company operates seven manufacturing units and supplies its products through a pan-India dealer-distributor-retailer network as well as direct enterprise and government utility contracts. Smart metering solutions for utilities under India's national programmes represent the dominant revenue segment, complemented by consumer and industrial electrical products.

Product overview

HPL Electric & Power is a multi-product electrical equipment manufacturer in India offering a comprehensive portfolio of seven core product categories: Metering Solutions (smart meters, AMR meters, prepaid meters, water meters, multifunction meters), Switchgears (MCBs, MCCBs, RCCBs, changeover switches, distribution boards for industrial and domestic use), LED Lighting (consumer bulbs, commercial downlights, industrial highbay/floodlights, outdoor street lights), Wires & Cables (domestic/industrial wires, networking cables, telephone cables, specialty cables), Solar Solutions (solar meters, solar street lights, solar cables, solar switchgear), Modular Switches (EDENO, SMARTS, and Kyro ranges including switches, sockets, plates, hotel/hospitality solutions), and Fans (ceiling, portable, ventilation, Farrata brand). The company operates 7 manufacturing units with over 900 dealers/distributors, 90 branch offices, 1,100+ workforce, and 85,000+ retailers across India. Their smart metering segment represents over 97% of their order book, serving utilities under India's Smart Meter National Programme and Revamped Distribution Sector Scheme (RDSS).

Differentiator

Problem solved

Functional benefit

Brands

• EDENO: Modular switches brand offering timeless design and exceptional durability
• SMARTS
• Neeram Pulse
• Kyro
• Farrata Fans

Products and services

• Smart Metering Solution Advanced smart electricity meters with AMI/AMR communication capabilities for real-time energy consumption tracking and remote data collection, serving utilities and DISCOMs under India's Smart Meter National Programme and RDSS.
• AMR Metering Solution Automatic Meter Reading (AMR) solutions that automate data collection from electricity meters, reducing manual reading requirements and improving utility operational efficiency.
• Prepaid Metering Solution Prepaid electricity metering system enabling consumers to pay for electricity in advance, helping manage consumption and eliminate billing disputes for utilities and consumers.
• Neeram Pulse Smart Water Meter Utility-grade smart water metering solution with IP68 protection, tamper detection, LoRa RF communication, and up to 10-year battery life, designed for municipal, industrial, and agricultural water systems with AMR/AMI readiness.
• EDENO Modular Switches Premium modular switch line from HPL's EDENO brand featuring advanced design, exceptional durability, and effortless functionality for residential and commercial electrical installations.
• SMARTS Modular Switches Smart modular switch series with enhanced features designed for modern electrical installations in residential and commercial settings.
• Kyro Modular Switches New modular switch range launched in 2026 with timeless design, exceptional durability, and effortless functionality for modern residential and commercial interiors.
• Industrial Switchgear Heavy-duty switchgear portfolio for industrial applications including motorised changeovers, distribution boards, MCCBs, and protection devices, drawing on HPL's legacy as the oldest manufacturer of LV switchgears in India.
• Domestic Switchgear Switchgear products for residential applications including MCBs (Osafe, Rakshak, Techno, Techno N series), distribution boards, RCCBs, and circuit protection devices ensuring home electrical safety.
• Domestic & Industrial Wire Electrical wires for residential and industrial applications meeting Indian safety standards, serving as the core building block for power distribution; the Wires & Cables division grew 50% YoY to ₹340 crore in FY26.
• Specialty Cables Specialized cables including data networking cables (CAT-5e, CAT-6), telephone cables, control cables, and instrumentation cables for industrial environments.
• Consumer LED Lighting Consumer LED lighting range including bulbs, battens, panels, downlighters, filament LEDs, and inverter lamps for residential use; HPL holds the fifth largest market share for LED lamps in India (fiscal 2015).
• Commercial LED Lighting Professional LED lighting solutions for commercial spaces including downlights, panel lights, track lights, and high bay lights for retail, office, and commercial applications.
• Industrial LED Lighting Heavy-duty LED lighting for industrial environments including highbay lights, flood lights, weather-proof fixtures, and well glass lights designed for factories and warehouses.
• Outdoor LED Lighting LED street lights and outdoor area lighting for municipal and infrastructure applications including city vision street lights ranging from 15W to 200W.
• Solar LED Street Light Solar-powered LED street lighting solutions for outdoor illumination independent of grid power, featuring IP65/IP66 rated fixtures and battery backup for 2-3 cloudy days.
• Ceiling Fans Energy-efficient ceiling fans for residential and commercial spaces including BLDC technology variants, sold under the Farrata brand sub-line for premium positioning.
• ATS / Motorised Changeover Switch Automatic transfer switches and motorised changeover devices enabling seamless power switching between grid and generator supply in industrial facilities including factories, cold storages, healthcare, and data centres.

Quantifiable outcome

• FY26 total revenue crossing INR 1,800 crores
• +5 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered major and strategic.

• GMR GroupmajorChannel Partner/ Reseller/ Distributor · 2 May 2026HPL Electric received a Work Order valued at ₹242.24 crore from multiple GMR Group entities for the supply of smart meters. The contract strengthens HPL's order book and provides multi-year revenue visibility for its Metering & Systems division, reinforcing HPL's position in India's rapidly expanding smart metering sector under the Revamped Distribution Sector Scheme (RDSS).
• WirepasstrategicTechnology or Integration · 26 February 2025HPL partnered with Wirepas to expand its smart meter business and develop advanced electric solutions. The partnership enables HPL to leverage Wirepas' connectivity technology for enhanced smart meter communication capabilities.

Scale indicators14 records

Recent moves8 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCMs-HIfIV2ouhlGrDI6ntsg
• Facebookfacebook.com/HPLElectricandPower/?fref=ts
• LinkedInlinkedin.com/company/6637327
• Instagraminstagram.com/hpl_electric_and_power
• Xx.com/HPL_Official

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HPL Electric & Power