HPL Electric & Power Q2 FY27 Results: Consolidated Net Profit ₹23.40 Crore on Total Income of ₹609 Crore
- Earnings
- electrical equipment and metering
Reviewed byKeshav SehgalBlacklitt Research
HPL Electric & Power (NSE: HPL) reported consolidated total income of ₹609.49 crore and net profit of ₹23.40 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹611.21 crore and net profit of ₹23.19 crore, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹609.49 crore, up 40.0% YoY and 17.8% QoQ
- Net profit and EPS: Net profit ₹23.40 crore, up 4.7% YoY and 25.2% QoQ; basic EPS ₹3.64
- Finance costs: ₹22.50 crore, down 4.5% YoY and up 1.9% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹611.21 crore, up 25.1% YoY and 18.9% QoQ
- Net profit and EPS: Net profit ₹23.19 crore, up 14.5% YoY and 29.5% QoQ; basic EPS ₹3.61
- Depreciation: ₹17.93 crore, up 50.6% YoY from ₹11.90 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 609.49 | 435.28 | +40.0% | 517.36 | +17.8% | |
| Revenue from operations | 608.31 | 434.45 | +40.0% | 515.24 | +18.1% |
| Other income | 1.18 | 0.83 | +42.2% | 2.12 | -44.1% |
| 23.40 | 22.36 | +4.7% | 18.69 | +25.2% | |
| Profit before tax | 31.39 | 30.49 | +3.0% | 25.17 | +24.7% |
| Finance costs | 22.50 | 23.57 | -4.5% | 22.08 | +1.9% |
| Tax expense | 7.99 | 8.14 | -1.8% | 6.48 | +23.4% |
| Net profit margin | 3.84% | 5.14% | -1.30 pp | 3.61% | +0.23 pp |
| EPS, basic (₹) | 3.64 | 3.46 | +5.2% | 2.90 | +25.5% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The company is an electrical equipment and metering business, and the filing reports both results for the quarter. The statement shows a half-year dividend payment of ₹6.43 crore in the cash flow statement, and paid-up equity share capital of ₹64.30 crore at a face value of ₹10 a share. Previous quarter figures have been regrouped where necessary.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 611.21 | 488.65 | +25.1% | 513.91 | +18.9% | |
| Revenue from operations | 610.15 | 488.00 | +25.0% | 512.86 | +19.0% |
| Other income | 1.06 | 0.65 | +63.7% | 1.05 | +1.5% |
| 23.19 | 20.26 | +14.5% | 17.91 | +29.5% | |
| Profit before tax | 31.08 | 27.20 | +14.3% | 24.05 | +29.3% |
| Finance costs | 22.08 | 23.00 | -4.0% | 21.18 | +4.3% |
| Depreciation | 17.93 | 11.90 | +50.6% | 17.31 | +3.6% |
| Tax expense | 7.89 | 6.94 | +13.7% | 6.13 | +28.7% |
| Net profit margin | 3.79% | 4.15% | -0.35 pp | 3.49% | +0.31 pp |
| EPS, basic (₹) | 3.61 | 3.15 | +14.6% | 2.79 | +29.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone profit grew faster than consolidated profit on a year-earlier basis. Standalone net profit rose 14.5% YoY to ₹23.19 crore, while consolidated net profit rose 4.7% to ₹23.40 crore. The standalone figure is ₹0.21 crore below consolidated this quarter.
Standalone depreciation rose 50.6% YoY to ₹17.93 crore, against ₹11.90 crore a year earlier, and is a larger share of cost than in the year-earlier quarter. Standalone profit before tax rose 14.3% to ₹31.08 crore, and tax expense of ₹7.89 crore is 25.4% of that figure. The filing does not explain the rise in standalone depreciation or the change in finance costs against the year-earlier quarter.
Inference
The filing reports a board proposal to evaluate a restructuring, including a possible Scheme of Arrangement to segregate one or more businesses into separate entities, approved in principle. It gives no reason for the proposal, no list of businesses and no timeline; these are not known from the filing.
Board changes take effect in November 2026: Bramhadeo Atmaramji Sawale joins as an Additional Independent Director from 12 Nov 2026, subject to shareholder approval, and Dhruv Goyal leaves on completing his second term from 11 Nov 2026. The filing does not say whether Sawale's remuneration has been set.
Filed with BSE on . Reference: Original filing (PDF)
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