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HPL Electric & Power Ltd. Reports Strong Q2 & H1 FY25 Results with 114.98% YoY PAT Surge for H1; Overall Growth of 21.46%

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Order Book exceeding ₹3,500+ Crore by the end of H1

NEW DELHI, Nov. 15, 2024 /PRNewswire/ — HPL Electric & Power Ltd. (HPL), a prominent manufacturer of electrical equipment, reported strong financial performance for Q2 and H1 FY25, covering the quarter and six months ended 30th September 2024. This performance was primarily driven by sustained demand in the Metering Systems & Services segment. The company achieved a 20.51% and 21.46% increase in revenue from overall operations in Q2 and H1 FY25, respectively, reflecting its ability to capitalize on market opportunities and drive top-line expansion. HPL also demonstrated a notable enhancement in profitability, with PAT increasing by 95.83% to ₹21.58 crore in Q2 FY25 and reaching ₹38.61 crore in H1 FY25, a growth rate of 114.98%. This substantial growth is attributed to the company’s ongoing efforts to boost operational efficiency, showing strong performance in Q2 following an encouraging start in the first quarter.

Consolidated Q2 & H1 FY25 Performance Highlights:

Particulars

Q2 FY24

Q2 FY25

Change
(YoY)

H1 FY24

H1 FY25

Change
(YoY)

Revenue From Operation

350.45

422.32

20.51 %

671.2

815.23

21.46 %

EBITDA

47.18

60.58

28.40 %

87.22

116.71

33.81 %

EBITDA Margin %

13.46 %

14.34 %

88 bps

12.99 %

14.32 %

132 bps

Profit after Tax

11.02

21.58

95.81 %

17.96

38.61

114.98 %

PAT Margin %

3.15 %

5.11 %

197 bps

2.68 %

4.74 %

206 bps

Earnings Per Share (EPS)

1.71

3.35

95.91 %

2.79

5.99

115.10 %

Financial Performance Highlights:

Revenue Growth: Revenue from operations rose by 20.51% YoY to ₹422.32 crore in Q2 FY25, and by 21.46% in H1 FY25 to ₹815.23 crore, driven by robust demand across Metering, Systems & Services, and Consumer, Industrial & Services segments.EBITDA and Margins: EBITDA increased by 28.40% YoY in Q2 FY25 to ₹60.58 crore, with an EBITDA margin improvement of 88 basis points, reaching 14.34%. For H1 FY25, EBITDA rose by 33.81% to ₹116.71 crore, with a margin expansion of 132 basis points to 14.32%. These improvements underscore the company’s success in optimizing costs and enhancing operational efficiency.Profitability: Profit After Tax (PAT) nearly doubled in Q2 FY25, increasing by 95.81% to ₹21.58 crore, while H1 FY25 PAT rose by 114.98% to ₹38.61 crore. The PAT margin expanded by 197 basis points in Q2 and by 206 basis points in H1, reflecting significant profitability gains due to strategic initiatives.Earnings Per Share: EPS improved significantly, climbing by 95.91% to ₹3.35 in Q2 FY25 and by 114.70% in H1 FY25 to ₹5.99, underscoring HPL’s consistent delivery of shareholder value.Segment Performance:Metering Systems & Services: This segment saw a robust 29.02% YoY growth in Q2 FY25, reaching ₹264.44 crore. For H1 FY25, the segment achieved ₹503.11 crore, reflecting a growth rate of 32.09% over the same period last year.Consumer, Industrial & Services: This segment reported steady growth, with revenues increasing by 8.52% YoY in Q2 FY25 to ₹157.88 crore. Cables grew 57.5%, while Domestic Switchgear grew at over 34.5%.Order Book: HPL maintains a robust order book exceeding ₹3,500 crore, with most orders stemming from the Metering Systems & Services segment, ensuring strong revenue visibility.

Mr. Gautam Seth, Joint Managing Director & CFO of HPL Electric & Power Ltd., remarked, “Our Q2 and H1 FY25 results are proof positive that HPL is on a powerful growth path, fuelled by solid AMISP faith and sharp operational focus. We’re not just keeping up; we’re setting the pace, with strategic investments in R&D and manufacturing driving strong gains in revenue and profitability.”

“Our Q2 and H1 FY25 results underscore HPL’s dedication to expanding our market reach and driving robust revenue growth, particularly in our Wires & Cables division. With an impressive 57.5% growth in this segment, we’re strengthening our position in the B2C market,” said Mr. Gautam Seth, Joint Managing Director & CFO of HPL Electric & Power Ltd. “Our network expansion to over 83,000 retailers and 900 authorized dealers across India is a testament to our commitment to deepening our market penetration and enhancing product accessibility nationwide. This extensive distribution reach, supported by targeted brand-building efforts, is key to our strategy of sustained growth, ensuring that our high-quality products are readily available to meet the needs of a growing customer base.”

Operational and Strategic Highlights:

Significant Order Wins: HPL Electric & Power Ltd. secured substantial new orders, demonstrating the company’s strong market position and trusted customer relationships. In July 2024, HPL received a major work order valued at ₹2,100 crore for the supply of smart meters from one of its leading regular customers. Additionally, in September 2024, the company received another order worth ₹143.77 crore for both smart meters and conventional meters, further reinforcing its leadership in the metering solutions segment.Strengthened Market Position in Smart Metering: With these new orders, HPL has solidified its leadership position in India’s smart metering market. These contracts align with the national initiatives aimed at upgrading energy infrastructure, showcasing HPL’s critical role in advancing the country’s smart grid capabilities.Enhanced Manufacturing and R&D Capabilities: HPL’s manufacturing capabilities, specifically in magnetic latching relay technology, is essential for smart energy solutions. Coupled with increased R&D investments, HPL is well-positioned to support the industry’s rapid advancements, ensuring it remains at the forefront of technological innovation.Growing Order Book: HPL’s order book now exceeds ₹3,500 crore, providing substantial revenue visibility and highlighting the company’s ability to capture large-scale opportunities within the energy sector. This strong pipeline reflects the robust demand for HPL’s metering and energy management solutions, driven by the accelerating pace of infrastructure development in India.Expanding B2C Business: The company has expanded its network to over 900 authorized dealers and 83,000+ retailers across India, supported by 90+ branch and representative offices. This extensive network ensures that HPL’s innovative product portfolio, which includes switchgears, lighting, and wires & cables, reaches a broad customer base effectively. The company has also bolstered its presence through targeted brand-building initiatives and dealer engagement programs, such as distributor and retailer meets held in key cities like Chandigarh, Guwahati, and Patna.

About HPL Electric and Power Ltd

HPL is an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including metering solutions, switchgear, lighting equipment, wires, and cables, catering to consumer and institutional customers in the electrical equipment industry. HPL had the largest market share in India’s electricity energy meters market, with one of the most comprehensive portfolios of meters in India and the fifth largest market share for LED lamps during the corresponding period (Source: Frost & Sullivan Report, February 2016). HPL’s manufacturing capabilities are supported by an extensive sales and distribution network with a pan-India presence. HPL currently manufactures and sells its products under the umbrella brand ‘HPL’, which has been registered in India since 1975.

For further information on HPL Electric & Power Limited, see www.hplindia.com

Safe Harbor

This release contains statements that contain “forward-looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to HPL Electric and Power Ltd.’s future business developments and economic performance. While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, several risks, uncertainties, and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include but are not limited to, general market, macro-economic, governmental, and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. PL Electric and Power Ltd undertake no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.

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ADX welcomes Morgan Stanley as the first international investment bank Remote Trading Member, expanding global access to Abu Dhabi’s capital markets

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ABU DHABI, UAE, May 5, 2026 /PRNewswire/ — The Abu Dhabi Securities Exchange (ADX) Group today announced that Morgan Stanley, a leading investment bank and financial services company, has joined the ADX as its first international investment bank Remote Trading Member — enabling Morgan Stanley’s clients to access the ADX directly.

This milestone strengthens ADX’s global connectivity and supports growing international institutional demand for exposure to UAE markets. It also reinforces its position as one of the world’s fastest-growing exchanges by market capitalization, while highlighting the market’s continued progress in depth, liquidity, and inclusion in major global indices.

Remote membership enables Morgan Stanley to provide its clients with direct market access to the ADX, with trading conducted via the firm’s global trading platform. The ADX continues to play a pivotal role in advancing Abu Dhabi’s long-term economic ambitions, as a mechanism for a diversified, innovation-led, knowledge-based economy.

Morgan Stanley’s direct trading access to ADX reflects the strength of Abu Dhabi’s investment proposition and the continued institutionalization of UAE capital markets. Morgan Stanley’s membership will enhance execution quality, optimize order routing, and provide greater control across the end-to-end trade lifecycle, delivering an advanced trading experience for global investors.

The structure follows a proven international access model used by Morgan Stanley and is designed to meet growing client demand for efficient, transparent, and seamless access to ADX-listed opportunities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of Abu Dhabi Securities Exchange (ADX) Group, said: “This marks a significant step in advancing our ambition to be a leading financial marketplace that drives opportunity and sustainable economic growth. This momentum is reflected in the strong foreign investor participation, with trading value exceeding 85 billion dirhams in the first quarter of 2026 up by 22% year on year. This performance underscores the growing depth and global relevance of our market, while reinforcing our commitment to expanding international access, strengthening cross-border connectivity, and building a world-class market infrastructure that attracts global capital, supports a diverse range of issuers and contributes to Abu Dhabi’s long-term economic prosperity.”

Patrick Delivanis, Regional Co-Head of MENA at Morgan Stanley, said: “Becoming a Remote Trading Member of ADX reflects our focus on providing clients with efficient, seamless access to Abu Dhabi’s capital markets through our market–leading trading platform. We see continued momentum in the institutionalization and international participation of UAE markets, and we’re pleased to support that evolution by enabling international investors to access opportunities in MENA with direct connectivity to local markets, alongside greater transparency and control across the trading lifecycle.”

Morgan Stanley’s participation aligns with ADX’s strategy to strengthen international connectivity, with remote memberships selectively offered to global firms to attract high-quality cross-border liquidity. The announcement builds on the ADX’s expansion momentum: in 2025, foreign investment rose by nearly 14% and institutional trading increased by 10% year on year. Subject to final operational readiness, Morgan Stanley expects to begin trading as a remote member in the coming weeks.

About Abu Dhabi Securities Exchange (ADX)

The Abu Dhabi Securities Exchange (ADX) was established on 15 November 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status, as well as the necessary supervisory and executive powers necessary to carry out its functions. On 17 March 2020, the ADX was converted from a public entity into a Public Joint Stock Company (PJSC) in accordance with Law No. (8) of 2020.

The ADX Group, a market infrastructure group comprising the exchange (ADX) and its post-trade ecosystem, including its wholly owned subsidiaries AD Depository and AD Clear, was established. Through its integrated and globally aligned business structure, the ADX Group supports efficient, transparent, and resilient capital markets across trading, clearing, settlement, and custody.

The Group provides an efficient and regulated marketplace for the trading of securities, including equities issued by public joint-stock companies, bonds issued by governments and corporations, exchange-traded funds (ETFs), and other financial instruments approved by the UAE Capital Market Authority.

The ADX is the second-largest exchange in the Arab region by market capitalization. Its strategy of delivering stable financial performance through diversified revenue streams is aligned with the UAE’s national development agenda, “Towards the Next 50”, which aims to build a sustainable, diversified, and high-value-added economy.

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Abu Dhabi Securities Exchange (ADX)
Mobile: +971 (50) 668 9733
Email: ALKhateebA@adx.ae

 

 

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SOURCE Abu Dhabi Securities Exchange (ADX)

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Geotab integrates Polestar vehicles into its OEM telematics network

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Fleet operators across North America, Europe, and APAC can now access Polestar vehicle data directly in MyGeotab — no aftermarket hardware required.

LONDON, UK, May 5, 2026 /PRNewswire/ — Geotab, a global leader in connected vehicle and asset management solutions, today announced the integration of Polestar vehicles into its OEM telematics network, giving commercial fleet operators seamless access to Polestar data within MyGeotab from day one — with no aftermarket hardware installation required. The integration is available globally across North America, Europe, and Asia Pacific, supporting all Polestar models.

Developed in collaboration with Geotab, among other telematics service providers, Polestar Fleet Telematics integrates directly into MyGeotab. The Geotab integration enables fleet managers to manage Polestar vehicles alongside all other makes and models on a single unified platform — without fitting additional devices.

Connected vehicle data where it matters most

Through Polestar Fleet Telematics, fleet operators gain near-real-time access to a comprehensive dataset — covering EV battery and charging status, location, tyre information, vehicle security, maintenance alerts, and climate data — flowing directly from Polestar’s connected vehicle architecture into MyGeotab, with no physical installation required.

This breadth of data enables fleet managers to move from reactive to proactive operations — scheduling maintenance before failures occur, optimising charge planning across depots, and maintaining duty-of-care oversight across the entire fleet.

Supporting Europe’s Mixed-Fleet Reality

OEM-embedded telematics removes the need for aftermarket device installation across mixed-manufacturer fleets, reducing logistical overhead and supporting compliance with works council and GDPR requirements — a critical consideration for European fleet operators.

“Polestar Fleet Telematics combines sustainability with intelligence, integrating seamlessly with Geotab to deliver these capabilities directly into the platforms fleet operators trust. Continuous data visibility enables more efficient and informed fleet operations, from day-to-day management to long-term planning. By leveraging Polestar vehicles’ embedded connectivity, fleet managers can make smarter, data-driven decisions — without adding hardware or complexity to their operations.” said Emma Knapp, Manager of Global Key Accounts at Polestar.

Polestar joins an OEM telematics network that already spans over 80% of leading global vehicle manufacturers by fleet market share, including BMW Group, Ford, Stellantis, Volkswagen Group, and Volvo Cars. For fleet operators already using MyGeotab, Polestar vehicles can be connected and deliver data without any additional hardware or installation.

“OEM-embedded telematics represents a change in how fleet data reaches the platform — and Polestar’s connected vehicle architecture makes this integration particularly well-suited for markets that are seriously considering transitioning to electric vehicles.” said Christoph Ludewig, Vice President OEM Global at Geotab. “Fleet operators managing mixed EV and internal combustion engine fleets no longer need separate tools or hardware for each vehicle type. Polestar data flows directly into MyGeotab alongside every other vehicle in the fleet — giving operators the consolidated visibility they need to drive efficiency, support duty of care, and manage their EV transition with confidence.”

Global Availability

The integration is available now across North America, Europe, and Asia Pacific, supporting all Polestar models. Fleet managers can activate the service via the Geotab Marketplace or by contacting their Geotab representative.

About Polestar

Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific.

Polestar has four models in its line-up: Polestar 2, Polestar 3, Polestar 4, and Polestar 5. Planned models include the Polestar 7 compact SUV (to be introduced in 2028) and the Polestar 6 roadster. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe.

Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar’s comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion.

About Geotab

Geotab is a global leader in connected vehicle and asset management solutions, with headquarters in Oakville, Ontario and Atlanta, Georgia. Our mission is to make the world safer, more efficient, and sustainable. We leverage advanced data analytics and AI to transform fleet performance and operations, reducing cost and driving efficiency. Backed by top data scientists and engineers, we serve approximately 100,000 global customers, processing 100 billion data points daily from more than 5 million vehicle subscriptions. Geotab is trusted by Fortune 500 organisations, mid-sized fleets, and the largest public sector fleets in the world, including the US Federal government. Committed to data security and privacy, we hold FIPS 140-3 and FedRAMP authorisations. Our open platform, ecosystem of outstanding partners, and Geotab Marketplace deliver hundreds of fleet-ready third-party solutions. This year, we’re celebrating 25 years of innovation. Learn more at www.geotab.com/uk and follow us on LinkedIn or visit our blog.

GEOTAB and GEOTAB MARKETPLACE are registered trademarks of Geotab Inc. in Canada, the United States and/or other countries.

Media Contact: Geotab Contact, Romina Dashghachian, Strategic Communications Lead, EMEA, pr@geotab.com

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IDX Opens Geneva Office and Strengthens Global Data & Insights Capability

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New Swiss presence and specialist team integration support growing global demand for evidence-based, defensible communications strategies

LONDON, May 5, 2026 /PRNewswire/ — IDX today announced the opening of its new Geneva office and the integration of a specialist Data & Insights team, strengthening the company’s international footprint and expanding its ability to help clients worldwide build communications strategies grounded in evidence, market intelligence and audience insight.

The expansion gives IDX an on-the-ground presence in Switzerland while adding further depth to its Data & Insights capability. The Geneva-based team will work closely with IDX specialists across performance marketing and corporate communications, helping clients develop a clearer view of the markets they operate in and the forces shaping their growth.

The move aligns with Destination 250 – Customers First, IDX’s global strategy to grow its team by 250, focused on deepening client value, strengthening delivery and investing in the capabilities that matter most to clients.

The investment strengthens the Data pillar of IDX’s Connected Content™ model, which combines Creative, Data, Technology and Media to create what IDX calls The Multiplier Effect, helping clients multiply what matters through more connected, measurable and effective work.

“IDX is experiencing phenomenal growth, and our new Geneva office gives us boots on the ground to better serve clients across Europe and globally across performance marketing, investor relations and corporate communications,” said Crispin Beale, Worldwide CEO, IDX. “Data has been at the heart of this business for decades, and this centre of excellence reflects our continued investment in that capability. It’s an incredibly exciting time for IDX, and I look forward to the next phase of our growth as we continue to expand globally.”

“This is an exciting step in IDX’s growth story and a clear response to what clients are asking for: more evidence-based thinking, stronger market context and clearer rationale behind their communications strategies,” said Chris Corrigan, Chief Customer Growth Officer, IDX. “Our new presence in Geneva, combined with deeper Data & Insights expertise, strengthens the way we support clients globally, giving them earlier access to the insight and market context they need to make better-informed decisions and turn evidence into action.”

The Geneva office will strengthen relationships with existing clients in the region, support re-engagement with former partners and create new opportunities for IDX with organisations operating across European and global markets. It reflects IDX’s continued investment in the capabilities that matter most to clients as communications, marketing and corporate reputation work become increasingly data-led and commercially accountable.

“IDX’s integrated offer across insights, performance marketing and corporate communications, powered by the combination of human intelligence, advanced technology and AI, represents exactly where the industry is heading,” said Lonneke de Roo, Head of Data & Insights, IDX. “I am delighted to join the business and help clients navigate increasingly complex markets with clearer evidence, sharper insight and more connected strategies.”

ABOUT IDX  

IDX is a global strategic communications and marketing agency, headquartered in London with offices around the world, including New York, London, Phoenix, Helsinki, Gothenburg, Geneva, and Vadodara. Working with more than 1,600 clients across sectors, IDX combines deep industry knowledge with a data-first mindset to help ambitious brands thrive in complex, fast-moving markets. The firm specialises in performance marketing, investor relations, and stakeholder engagement, delivering integrated campaigns that drive meaningful business outcomes. Visit www.idx.inc to learn more.

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