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The contract is for supplying smart meters in the normal course of business.
The value of the aforementioned contract is nearly 0.70 times the full market capitalization of HPL Electric, which as of previous close stood at Rs 3,016.01 crore.
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.
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