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HPL Electric & Power Limited
(HPL)
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Rating:54Neutral
Price Target:
₹314.00
▼(-20.33% Downside)
Action:Reiterated
Date:08/28/26
The score is primarily held back by weakened cash conversion (free cash flow turning negative) and clear technical weakness (price below all major moving averages with negative MACD). Offsetting factors include solid multi-year growth in revenue and net income and a balance sheet supported by rising equity, while valuation is only moderately supportive due to a low dividend yield and a mid-range P/E.
Positive Factors
Long-term Revenue Growth
Revenue has more than doubled over five years, indicating sustained demand for HPL’s metering, switchgear, lighting, and cable products. This scale expansion supports manufacturing utilization and strengthens the company’s position in India’s power-distribution supply chain.
Negative Factors
Negative Free Cash Flow
The reversal from positive to negative free cash flow signals heavier capital spending and/or working-capital absorption. If sustained, it could reduce financial flexibility, increase dependence on borrowing, and limit HPL’s ability to self-fund manufacturing expansion and growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term Revenue Growth
Revenue has more than doubled over five years, indicating sustained demand for HPL’s metering, switchgear, lighting, and cable products. This scale expansion supports manufacturing utilization and strengthens the company’s position in India’s power-distribution supply chain.
Read all positive factors
HPL Electric & Power Limited (HPL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹19.26B
Dividend Yield0.34%
Average Volume (3M)8.32K
Price to Earnings (P/E)21.0
Beta (1Y)1.33
Revenue Growth14.96%
EPS Growth-4.12%
CountryIN
Employees1,516
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)14.92
Shares Outstanding64,300,490
10 Day Avg. Volume8,556
30 Day Avg. Volume8,319
Financial Highlights & Ratios
PEG Ratio-6.16
Price to Book (P/B)1.65
Price to Sales (P/S)0.91
P/FCF Ratio-21.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)22
Revenue Forecast (FY)₹26.56B
HPL Electric & Power Limited Business Overview & Revenue Model
Company Description
HPL Electric & Power Limited manufactures and sells electric equipment under the HPL brand in India. It offers digital panel and energy, multi-function, load managers, demand controllers, power quality, projection, dual source energy, HTCT, and ke...
How the Company Makes Money
HPL makes money primarily by selling electrical equipment and solutions through a product-led revenue model. Its key revenue streams typically include: (1) Metering business: Revenue from supplying electricity meters (including smart/prepaid meter...
HPL Electric & Power Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.05B | 18.11B | 17.05B | 14.61B | 12.62B | 10.14B |
| Gross Profit | 6.15B | 3.75B | 6.00B | 4.85B | 4.20B | 3.60B |
| EBITDA | 2.67B | 2.81B | 2.60B | 1.81B | 1.60B | 1.29B |
| Net Income | 959.25M | 910.12M | 937.69M | 435.64M | 301.78M | 77.73M |
Balance Sheet | ||||||
| Total Assets | 22.64B | 23.98B | 20.95B | 18.74B | 17.01B | 16.38B |
| Cash, Cash Equivalents and Short-Term Investments | 881.33M | 811.61M | 612.82M | 263.62M | 330.54M | 390.80M |
| Total Debt | 7.42B | 6.55B | 6.39B | 6.27B | 6.00B | 5.97B |
| Total Liabilities | 13.06B | 13.96B | 11.78B | 10.44B | 9.05B | 8.72B |
| Stockholders Equity | 9.56B | 10.00B | 9.15B | 8.28B | 7.94B | 7.64B |
Cash Flow | ||||||
| Free Cash Flow | -363.13M | -786.21M | 646.79M | 568.25M | 592.64M | 560.78M |
| Operating Cash Flow | 1.15B | 1.38B | 1.38B | 1.00B | 1.04B | 1.01B |
| Investing Cash Flow | -1.62B | -2.27B | -701.26M | -393.65M | -398.19M | -413.09M |
| Financing Cash Flow | 573.54M | 1.10B | -657.24M | -723.13M | -737.91M | -580.34M |
HPL Electric & Power Limited Technical Analysis
Negative
394.15
Price Trends
334.89
Negative
347.90
Negative
353.23
Negative
Market Momentum
-9.88
Positive
28.71
Positive
10.54
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HPL, the sentiment is Negative. The current price of 394.15 is above the 20-day moving average (MA) of 316.94, above the 50-day MA of 334.89, and above the 200-day MA of 353.23, indicating a bearish trend. The MACD of -9.88 indicates Positive momentum. The RSI at 28.71 is Positive, neither overbought nor oversold. The STOCH value of 10.54 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HPL.
HPL Electric & Power Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹108.98B | 34.09 | ― | 1.09% | 17.84% | -2.60% | |
64 Neutral | ₹92.78B | 34.79 | ― | 0.07% | 14.60% | -1.12% | |
59 Neutral | ₹53.17B | 39.37 | ― | 0.39% | 60.51% | 85.36% | |
58 Neutral | ₹56.96B | 28.20 | ― | 0.34% | 33.64% | 71.66% | |
58 Neutral | ₹26.24B | 23.12 | ― | 1.39% | 18.29% | -18.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹19.26B | 20.97 | ― | 0.24% | 14.96% | -4.12% |
* General Sector Average
IN:HPL
HPL Electric & Power Limited
297.35
-175.77
-37.15%
IN:BBL
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IN:RAMRAT
Ram Ratna Wires Limited
535.80
175.75
48.81%
IN:TARIL
Transformers and Rectifiers (India) Limited
302.00
-204.75
-40.40%
IN:UNIVCABLES
Universal Cables Limited
1,628.50
912.22
127.36%
IN:VOLTAMP
Voltamp Transformers Limited
10,688.10
2,680.00
33.47%
HPL Electric & Power Limited Corporate Events
HPL Electric & Power Publishes Pre-AGM Notices for Virtual 34th Shareholder Meeting
Aug 28, 2026
HPL Electric Power Limited has announced that it has published pre-Annual General Meeting advertisements in English and Hindi editions of Business Standard, ahead of its 34th AGM scheduled for September 24, 2026. The meeting will be conducted via...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.