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HPL Electric & Power

HPL Electric & Power

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About

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Sector: Refineries

Market Price

2,529.50

Market Cap(₹Cr.)

2,529.50

-90.00

Quarterly Results ( Figures in Rs. Crores.)

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Overview

The company was incorporated as ‘HPL-Socomec Private Limited’ on May 28, 1992 as a private limited company under the Companies Act 1956, with the Registrar of Companies, National Capital Territory of Delhi and Haryana at New Delhi (the RoC). Pursuant to a resolution of its Board of Directors dated January 21, 2010 and a resolution of its shareholders dated February 18, 2010, the name of the company was changed to HPL Electric & Power Private Limited and a fresh certificate of incorporation was issued upon change of name by the RoC on March 10, 2010. Further, pursuant to conversion of the company to a public limited company, the name of the company was changed to ‘HPL Electric & Power Limited’ and a fresh certificate of incorporation consequent upon change of name on conversion to public limited company was issued by the RoC on December 14, 2015.

The company supplies its products through a network of authorized dealers or distributors to institutional, non-institutional and corporate customers. It supplies switchgears, lighting equipment and wires and cables, primarily through its pan-India authorized dealer network. The company’s authorized dealers or distributors further sell its products to over 15,000 retailers in India. In addition, it supplies its 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, the company supplies its 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 its authorized dealer network.

The company also operates two tool rooms at Gurgaon (Haryana) and Kundli (Haryana), within its R&D Centres, where it has in-house component designing and tool designing facilities. The company currently owns and operates seven manufacturing facilities located across the states of Haryana and Himachal Pradesh, having in-house testing capabilities, including one manufacturing facility owned and operated by its Subsidiary.

Business area of the company

The company is an established electric equipment manufacturing company in India, manufacturing a diverse portfolio of electric equipment, including, metering solutions, switchgears, lighting equipment and wires and cables, catering to consumer and institutional customers in the electrical equipment industry.  It currently manufactures and sells its products under the umbrella brand ‘HPL’, which has been registered in India since 1975.

Major events

  • 1992: Incorporation of the company under the Companies Act 1956 pursuant to a joint venture agreement dated October 24, 1991 between Socomec and Havells Electronics Private Limited (the ‘Havell’s’ trademark is a property of Havell’s Industries (now Havells India Limited) and the company, its Promoters and members of its Promoter Group are not associated in any manner with Havells India Limited or its promoters).
  • 1998: Commencement of production of electronic/static energy meters at the factory situated at Gurgaon Facility I 2008 HPTL Scheme of Amalgamation pursuant to which the company acquired the lighting equipment business Commencement of production and manufacture of lighting equipment at its Sonepat Facility.
  • 2010 Change of name of the company from HPL-Socomec Private Limited to HPL Electric & Power Private Limited.
  • 2010: Commencement of production and manufacture of meters at its Gurgaon Facility II.
  • 2011: Commencement of production and manufacture of switchgears at its Kundli Facility.
  • 2014: Commencement of the production of wires and cables at the factory located at its Gharaunda Facility.
  • 2015: Conversion of the company into a public limited company. 
  • 2015: Commencement of manufacture of LED products.
  • 2015: Settlement with Socomec pursuant to which its promoter and promoter group acquired the entire shareholding of Socomec in the company.
  • 2016: Acquisition of Himachal Energy upon conversion of 15,000,000 optionally convertible debentures of Himachal Energy held by the company, pursuant to which Himachal Energy became a 97.15% owned subsidiary of the company.
Brands Of HPL Electric & Power

Brands Of HPL Electric & Power

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