Shares of HPL Electric & Power Limited shot up over 8% on Thursday after the electrical equipment company said that it received orders valued at ₹369.90 crores (inclusive of taxes) from its regular customers for the supply of smart meters.

The orders are part of the company’s ongoing business operations and will be executed in accordance with the terms and conditions of the respective purchase orders and supply agreements, the company said.

The company made the disclosure in a filing to both the National Stock Exchange of India (NSE) and BSE Limited, highlighting the continued demand for its smart metering solutions from leading customers.

HPL Electric, a multi-product electric equipment manufacturer, reported a ₹393.43 crore revenue in Q3 2024-2025, a 7.45% increase year-over-year, and a net profit of ₹18.08 crore, a 51.42% jump compared to the previous year. 

The electrical equipment reported a net profit margin of 4.60% for the period, reflecting a 40.92% year-on-year growth, but a 9.66% decline compared to the previous quarter.

The company specialises in metering solutions, switchgears, LED lighting, wires & cables, solar solutions, and modular switches.

The HPL Electric stock was last seen trading at a price of ₹399.10 on the BSE, over 8% higher than the opening price of ₹369.25.