This MoU paves the way for local manufacturing of relay/latching relays in India through a phased approach, potentially involving technical collaboration and component procurement.

HPL Electric & Power leading players and India’s fastest growing electrical and power distribution equipment manufacturer with products ranging from industrial and domestic circuit protection switchgears, cables, energy saving meters, CFL & LED lamps.

The company’s consolidated net profit jumped 21.87% to Rs 13.71 crore on a 16.91% increase in revenue to Rs 424.09 crore in Q4 FY24 as compared with Q4 FY23.