HPL Electric & Power secures Rs178.9cr order for Smart Meters

The company will provide different types of Smart Energy meters and related services for the project.

Oct 26, 2021 04:10 IST India Infoline News Service

HPL Power & Electric Ltd reinforces its prowess in the smart metering technology field by receiving an Order of Rs178.9cr from the largest private utility of a state in Eastern India. This further strengthens HPL Electric & Power Ltd.’s leadership position in the smart meter manufacturing sector across Indian Markets.

At a time when reports of power shortages are making headlines, smart meters will definitely reduce distribution losses, remove theft and pilferage of power. This prestigious order has been secured amidst stiff competition.

Gautam Seth, Joint Managing Director, HPL Electric & Power, said, “This is a big win for us, fortifying our leadership position in smart meter technology once again. HPL has a whole range of best-in-class metering solutions to meet the requirements of the power industry. This is the start of a positive cycle for smart meter technology adoption leading to a growth in demand across power utility companies. Our recently launched new range of smart meters with NB-IoT communications technology has been developed in-house at HPL’s new R&D facility at Gurugram.

At a time when country is facing several challenges due to the present scenario, this project comes at a crucial juncture when Indian government has earmarked a sum of Rs22,500cr as the central government grant for the installation of 25 crore smart prepaid meters across the country under the Rs3-lakh-crore scheme for power distribution entities. This project will work in tandem with realizing India’s goal of overhauling the power infrastructure towards a better future.”

HPL Electric & Power Ltd ended at Rs70.10 per piece up by Rs4.4 or 6.7% from its previous closing of Rs65.70 per piece on the BSE.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity