HPL Electric and Power Q4 net profit at INR 12.6 crore

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Revenue from Operations for the quarter grew by 12.1% from 314.6 crore in Q4FY18 to 352.5 crore in Q4FY19.

HPL Electric and Power, an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, announces their financial results for the quarter ended March 31, 2019.

Consolidated Performance Highlights

Particulars (In Rs Cr) Q4FY19 Q4FY18 YoY % FY19 FY18 YoY %
Revenue from Operations 352.5 314.6 12.1% 1,158.5  1,036.3  11.8%
EBITDA 40.7 30.3 34.5% 133.5 109.9 21.5%
EBITDA Margin % 11.6% 9.6% 193 bps  11.5% 10.6% 92 bps
Reported PAT 12.6 7.2 73.3 32.7 27.6 18.6%
PAT Margin % 3.6% 2.3% 126 bps  2.8% 2.7% 16 bps

• The performance during the fourth quarter was marked by YoY growth of 37% in metering, 30% in lighting, partially offset by YoY decline in switchgear and wires & cables business.
• The performance during the full financial year was marked by higher double-digit growth in all three major businesses – YoY growth of 16% in metering, 17% in switchgear and 15% in lighting business.
• Operating margins improved in metering and switchgear business, driving the overall EBITDA margin.

Gautam Seth, Joint Managing Director said, “We recorded robust financial performance in FY19 with a positive growth trajectory across all three major businesses – metering, switchgear and lighting. We successfully delivered on our commitment of double-digit growth, operational cost control and lower working capital days in FY19. Metering business clocked highest quarterly revenues with improved operating margin. The current metering order book gives us good revenue visibility for the coming year. Switchgear and lighting business continued to witness strong traction in the trade business. Our brand building and marketing initiatives significantly picked up during last year as we doubled our advertising & promotion spend. We received an overwhelming response as the official LED and Switchgear Partner of Delhi Capitals IPL team. We aim to leverage on our brand building efforts to aggressively grow our consumer businesses over coming years”.

Robust Order Book & Strong Revenue Visibility

Consolidated order book was Rs 575.4cr (Net of GST) as on 14th May 2019

• Metering orders of Rs 554.6cr
• Lighting orders of Rs 9.9cr
• Switchgear orders of Rs 9.5cr
• Wires & Cables orders of Rs 1.4cr

New Metering Orders:

Rs 62.5cr orders for meters with smart communication technologies:

• 1P Static Energy Meters with 6-LowPan Technology for effective two-way communication
• 3P Trivector Meter with in-built communication technology and Modem
• Rs 156.8cr orders for meters with RF and IRDA communication
• Enquiry base for Metering tenders are at a healthy level, which provides good visibility and positive outlook for the coming quarters