HPL Electric & Power Ltd. receives BIS certification for Smart Meters Bags two big tenders worth Rs. 76.23cr for meters

New Delhi, June 19, 2018: HPL Electric & Power Ltd. (NSE: HPL, BSE: 540136) has received BIS certification for its Smart Meters under ‘IS 16444’.

HPL is one of the few companies in India which has BIS certification for smart meters. The market for meters is expected to witness explosive growth by 2022, with government promoting smart cities and smart grids, thus paving way for a robust demand for smart meters. The market for meters is expected to grow at a CAGR of 5.3% which would translate into double-digit growth.

Commenting on the same, Mr. Gautam Seth, JMD, HPL Electric & Power Ltd. said, “We are pleased to receive BIS certification for our smart meters. This is a result of the hard work and consistency of our technology team to consistently manufacture and supply superior quality products at competitive prices. HPL is one of the few companies in India to have received this certification. It is a proud moment for us as it highlights our company as one of the leading manufacturers of meters and gives us an edge in the smart metering opportunity. We are positive that this development will further reinforce customers’ belief in the quality of our products and services.”

The certification is a true indication of the company’s technical capabilities and an assurance of product & service quality. This is a significant milestone for the company which will enhance its market position as a technologically advanced meter supplier.

This comes along with the company bagging two tenders of meters from southern utilities for Rs. 76.23cr, and the total order book as on date for meters stands at Rs. 474.65 cr.

About HPL Electric & Power Ltd.

 HPL is an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including metering solutions, switchgears, LED lighting equipment and wire & cables, catering to consumer and institutional customers in the electrical equipment industry. HPL’ manufacturing capabilities are supported by a large sales and distribution network with a pan-India presence. They currently manufacture and sell its products under the umbrella brand ‘HPL’.

HPL supplies switchgears, lighting equipment and wires and cables, primarily through their pan-India dealer network, which comprises of 2000+ dealers & distributors & 27000+ that are managed by the carrying and forwarding agents. In addition, HPL supplies their products to Power Utilities, which primarily includes supply of meters under direct contractual arrangements to electricity boards and power distribution companies, as well as through project contractors. Further, they supply their portfolio of products to developers of residential and commercial building projects, OEMs and to industrial customers through a mix of direct sales and supply through their authorized dealer network.

For more information – http://www.hplindia.com/

About Manish Mathur