HPL Signs Long-Term Naphtha Deal With QatarEnergy

QatarEnergy will supply HPL with up to two million tons of naphtha over 10 years from the second quarter of 2024.
13-06-2024
Bigul

Q4FY24 Quarterly & FY24 Annual Result Announced for HPL Electric & Power Ltd.

Consumer Electronics company HPL Electric & Power announced Q4FY24 & FY24 results: Revenue Growth: HPL reported a YoY revenue increase of 17% in Q4FY24, with revenues rising to Rs 42,409.28 lakh from Rs 36,275.30 lakh in Q4FY23. This quarterly increase contributed to an annual revenue growth of 15.74%, reaching Rs 1,460.86 crore in FY24, up from Rs 1,262.21 crore in FY23. Gross Margin: HPL's gross margin improved by 198 basis points YoY in Q4FY24, reflecting a rise to 34.28% from 32.30% in Q4FY23. For the full year, the gross margin increased by 92 basis points to reach 34.23% in FY24 from 33.31% in FY23. EBITDA Growth: For Q4FY24, HPL's EBITDA grew by 23.86% YoY to Rs 5,522.18 lakh, up from Rs 4,458.37 lakh in Q4FY23. This strong quarterly performance led to an annual EBITDA increase of 22.49%, with the amount rising to Rs 192.15 crore in FY24 from Rs 156.87 crore in FY23. Profit After Tax: HPL's PAT increased by 21.74% YoY in Q4FY24, amounting to Rs 1,371.74 lakh compared to Rs 1,126.76 lakh in Q4FY23. Over the fiscal year, PAT rose by 44.22%, reaching Rs 43.63 crore in FY24, which underscores the company's operational efficiency and strategic focus. Earnings per share: HPL's EPS increased by 21.71% YoY in Q4FY24, standing at Rs 2.13 compared to Rs 1.75 in Q4FY23. Over the fiscal year, EPS rose by 44.56%, reaching Rs 6.78 in FY24. Gautam Seth, Joint Managing Director & CFO, articulated, "This fiscal year highlighted HPL's solid progress as a key player in the electrical equipment industry. FY24 demonstrated our financial growth and strategic expansion both domestically and internationally. Our focus on smart metering technologies and new market entries has established a foundation for sustained growth. We remain committed to advancing innovation and operational efficiency. Our strategy emphasizes market expansion, technological advancement, and strategic partnerships. The strong execution of orders from our extensive order book pipeline and the increase in production capacity have been essential in meeting the rising demand and strengthening our market presence. Additionally, our ongoing investment in R&D; is embedded in HPL's culture, driving continuous improvement and keeping us at the forefront of technological developments." Result PDF
15-05-2024
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