HPL Electric expands market share in India with $25m smart meter order

HPL Electric expands market share in India with $25m smart meter order
Image courtesy 123rf

Indian electric equipment manufacturer HPL Electric and Power Ltd (HPL) yesterday announced smart meter orders worth INR204 crore ($24.9 million).

The order is being touted as the latest in the company’s robust pipeline of pending smart meter orders in the country, a strategy they are pushing as India continues to roll out state-led schemes for smart metering, such as the Revamped Distribution Sector Scheme (RDSS).

HPL’s strategic focus on the smart meter sector, they stated in a press release yesterday, is yielding positive results, with a noticeable upsurge in demand. HPL currently has an order book worth over INR1250 crores ($152.6 million).

“We are delighted with our ongoing success, driven by the strong demand for smart meters and our commitment to technological excellence,” said Gautam Seth, joint managing director of HPL.

The order is being touted by the company as in line with a modernisation and process automation vision, which involves the company upgrading its infrastructure to integrate advanced tech and automating key processes.

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This guiding objective, they state, has resulted in higher productivity levels and a reduction in manual dependency.

“The implementation of government schemes has significantly helped the industry, and we are witnessing tangible results. Our robust pipeline of pending orders, combined with our R&D and process automation initiatives, positions us strongly for sustained growth and continued market leadershi,” added Seth.

Details on the order, such as sectors, ordering parties, smart meter types and amounts ordered have not yet been released. HPL and Electric coordinates metering solutions across domestic, commercial and industrial applications.

This marks the latest in Indian smart metering. Two weeks ago, Indian smart metering company IntelliSmart Infrastructure won an order of 6.7 million smart meters, marking the largest order to date in the country.

In that same week, companies Airtel and Secure Meters announced the deployment of 1.3 million NB-IoT enabled smart meters in the country, which marked the first of such tech being deployed with a 2G and 4G fall-back option to ensure continuous supply.