HPL Electric & Power · tone and specificity signals across the available quarters.
Language signals
The way I see the disruption in the next two years, I would definitely see a bigger consolidation happening even at meter manufacturer level. The bigger and established players who are consistent with quality and technology stand to definitely gain out of that.
If you look at our current EBITDA margin of 12.26%, if we had the same level of gross margin as earlier on this topline, our EBITDA margins would have been as high as 20-25%. That is really the operating leverage kicking in on a normalized raw material cost basis.
One of the utilities in Middle East has just approved our metering. Already we are now moving to the international markets. Thanks to the scale and technology what we are using in India, that would actually make us eligible to go anywhere in the world.
We now have two scalable businesses which are smart metering and the consumer and industrial and both are meaningfully growing with meaningful drivers of growth.
I think the industry is on track to maybe in the next maybe instead of three it may take four years or 5 years or whatever but I think all the meters and many more beyond this will get implemented.
If you compare one-on-one on the technology, I think India is far above and now with the smart meter in place and probably I would say one of the biggest rollout of smart meters in the world.
Revenue crossed 1,800 crores and Q4 revenue crossed 500 crores for the first time.
HPL electric is now visibly a two engine electrical equipment and solutions company.
Our order book continues to provide visibility with metering accounting for more than 97% of the order book of over rupees 3,200 crores.