HPL Electric & Power is a buy for 36% upside gain
Posted: Mon Nov 25, 2024 7:44 pm
HPL Electric & Power (HPL), incorporated in 1992, is among India’s leading electric equipment manufacturer with a formidable presence across two major segments, 1) Metering & Systems and 2) Consumer & Industrials
• HPL is strongly positioned to witness healthy growth led by robust opportunity arising in smart meters segment. Moreover, consumer & industrial segment too is poised to grow considerably in the coming period. We estimate revenue CAGR of ~22% over FY24-27E while EBITDA & PAT to grow at ~28% & ~48% CAGR respectively over the same period
• We recommend BUY on HPL Electric with a target price of ₹ 660 per share (based on 30x P/E to FY27E EPS)
• HPL is strongly positioned to witness healthy growth led by robust opportunity arising in smart meters segment. Moreover, consumer & industrial segment too is poised to grow considerably in the coming period. We estimate revenue CAGR of ~22% over FY24-27E while EBITDA & PAT to grow at ~28% & ~48% CAGR respectively over the same period
• We recommend BUY on HPL Electric with a target price of ₹ 660 per share (based on 30x P/E to FY27E EPS)