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HPL Electric Secures Rs. 903 Cr. Orders for Smart Meters

HPL Electric and Power Ltd. (HPL), an Indian manufacturer of cables, switchgear, and electric meters, has secured orders worth Rs. 903 crore for smart meters in India. The company shared this information in its stock filing dated 4th July 2023.

Commenting on this order win, Mr. Gautam Seth, Joint Managing Director & CFO of HPL, said, “Our smart meters can significantly enhance demand-side energy efficiency by providing real-time data on energy consumption to both consumers and energy providers. They enable consumers to monitor and adjust their usage habits to off-peak hours, reducing strain on the grid”.

According to the company, its order book stands at over Rs. 2,500 crore as of 4th July 2023.