HPL Electric & Power share price today

HPL Electric & Power Ltd's share price was ₹246.57 at the close on 4 November 2026. It has been falling for 56 weeks. That is 25.6% below its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 20 weeks running.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today HPL Electric & Power Ltd is in stage 4. The phase helps read everything below.

In the last 52 weeks it traded between ₹226 and ₹457, and at that close it sat 9% of the way up from that low.

Over the last 10 years the share price moved +39% while the NIFTY 500 moved +191%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 25 June 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: lowest operating margin in 12 quarters and revenue up on a year earlier for 4 quarters in a row.

1. Lowest operating margin in 12 quarters

   Operating margin was 12% in the June 2026 quarter, against 15% a year earlier.

   Why: Margins fell because industrial plastics and metals cost more, and some meter prices were fixed before those costs rose.

   Next results: check whether price rises and product redesign start to make up for higher plastics and metals costs.

   From the earnings call on 11 Aug 2026.

2. Revenue up on a year earlier for 4 quarters in a row

   In the June 2026 quarter revenue was ₹515 crore, +34.5% on a year earlier.

   Why: Revenue rose because the consumer and industrial business grew fast, led by wires and cables, lighting and switchgear.

   Next results: check whether the wider consumer and industrial business turns more sales into profit, not just wires and cables.

   From the earnings call on 11 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), HPL Electric & Power reported revenue of ₹515 crore, up 34.5% from ₹383 crore a year earlier, and a profit of ₹19.0 crore, up 5.6% from ₹18.0 crore.

HPL Electric & Power results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

HPL Electric & Power's management discussed these results on a call held on 11 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

HPL Electric & Power closed at ₹246.57 on 4 November 2026, down 41.4% from ₹421.10 a year earlier (7 November 2025) and up 263.1% over five years. Its highest weekly close since October 2016 was ₹658.65 on 23 August 2024.

HPL Electric & Power share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

530 weekly closes from 7 October 2016 to 4 November 2026.

4 Nov 2026: HPL Electric & Power closed at ₹246.57, up 9.2% on the week and down 7.7% on the month. 17 Sep 2026: ex-date for a dividend of ₹1 a share.

Earlier

• 11 Aug 2026: HPL Electric & Power held its results call for April to June 2026. Management guided: C&I revenue: high double-digit growth over the next 12-18 months, led by wires and cables, MCBs, switches and lighting.
• Results for April to June 2026: Revenue up 34.5% and profit up 5.6% on a year earlier.

HPL Electric & Power paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.41% at the ₹246.57 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 17 September 2026.

HPL Electric & Power dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. HPL Electric & Power Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 11 August 2026, HPL Electric & Power's management guided: C&I revenue: high double-digit growth over the next 12-18 months, led by wires and cables, MCBs, switches and lighting.

“On a conservative basis, for the immediate period, this quarter could be viewed as a more conservative level. Although we are looking to improve our margins, it could take some time, perhaps another quarter or more. For now, the levels at which we are operating would be the baseline for us, although efforts are being made to increase and enhance them further.”Gautam Seth, Joint Managing Director & CFO, on the call for April to June 2026

What management guided

• Smart-metering revenue: steady growth through this year, next year and the next 3-5 years.
• Smart-metering order execution: typically 1.5-2 years, with pace dependent on AMISP execution.
• Metering margins: improvement remains the aim, but current operating levels are a conservative near-term baseline; recovery may take another quarter or more.
• C&I margins: improvement by Q3 possible if copper and other input prices remain near current levels.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 11 August 2026.

When HPL Electric & Power reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Metering margin recovery - check whether pricing, redesign and tender repricing begin offsetting industrial-plastics and metals pressure.

HPL Electric & Power is on one of our India lists: 52 week high & low.

HPL Electric & Power Ltd earned ₹19.0 Cr of net profit in the Jun 2026 quarter, +5.6% on the same quarter a year earlier. Full-year FY26 profit was ₹91.0 Cr. Over 10 years profit has grown 9.4% a year on average. That is 3.7% of the quarter's revenue. The same quarter a year earlier earned ₹18.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹91.0 Cr (−3.2% on the year before).

Why profit moved: revenue changed +34.5% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +0.1% and revenue +15.9%. Profit is growing slower than sales: rising costs are taking part of the growth.

HPL Electric & Power Ltd reported ₹515 Cr of revenue in the Jun 2026 quarter, +34.5% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 5.0% a year on average. The last full year, FY26, came in at ₹1,811 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,943 Cr.

FY26 revenue was ₹1,811 Cr, +6.5% on the year before.

Recent pace: the last four quarters grew +15.9% on average, against 5.0% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +15.0%, against +12.6% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −3.2%, against +30.5% a year (rolling over).

HPL Electric & Power Ltd's operating margin was 12.0% in the Jun 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 10.0% and 16.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −2.9 percentage points on the year while gross margin changed −7.7 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 203% of HPL Electric & Power Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹226 Cr of operating cash against ₹91.0 Cr of profit. After ₹212 Cr of spending on assets, ₹14.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 203% of profit came in as cash: the cash cycle got 160 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.4× depreciation over three years. The next section checks what that spending is building.

HPL Electric & Power Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 221 days in FY26, down from 381 days in FY21. It spent ₹339 Cr on assets over the last 3 years. Customers take 154 days to pay, and stock sits for 236 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,811 Cr, each day of that cycle ties up about ₹5.0 Cr, so roughly ₹1,097 Cr is tied up in the business at any time.

FY26: customers took 154 days to pay and stock sat for 236 days, about 7.8 months of sales sitting as stock, for a full cycle of 221 days, shorter than FY21's 381.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 236 days. Customers pay about 154 days after that. Suppliers are paid at 169 days. Together that makes the 221-day cycle.

Spending on assets: ₹339 Cr over the last 3 years, against ₹144 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹41.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

HPL Electric & Power Ltd's P/E is 16.6×, near the low end of its own history: it has been lower only 25% of the time. Its usual P/E (the middle reading) is 26.1×, over 10 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹14.18.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.