Analysts/Institutional Investor Meet/Con. Call Updates

June 23, 2026 The Manager, Secretary Listing Department, BSE Limited National Stock Exchange of India Ltd. 25th Floor, New Trading Ring, Rotunda “Exchange Plaza”, C-1, Block G, Building, PhirozeJeejeebhoy Towers, Bandra-Kurla Complex, Bandra €, Dalal Street, Fort, Mumbai – 400 051 Mumbai – 400 001 Symbol: HPL Scrip Code: 540136 Sub: Transcript of Conference Call with the Investors/Analysts Dear Sir/Ma’am, In continuation to our intimation dated June 12, 2026 regarding Investors/Analyst’s Conference call held on Wednesday, June 17, 2026 at 12:30 P.M. (IST). A copy of transcript of the conference call held with the Investors/Analysts is enclosed herewith for your record. The transcript of aforesaid conference call is also available on the Company’s website at www.hplindia.com. Yours Faithfully For HPL Electric & Power Limited Vivek Kumar Company Secretary Encl: As stated above HPL Electric & Power Limited | Q4 and FY26 Earnings Webinar Transcript HPL Electric & Power Limited Q4 and FY26 Earnings Webinar Transcript 12:30pm IST on June 17, 2026 Disclaimer This transcript has been prepared for information and reference purposes in connection with the Q4 and FY26 earnings webinar of HPL Electric & Power Limited. Certain statements made during the webinar may be forward-looking in nature and are based on current expectations, estimates and assumptions. Such statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. The transcript should be read in conjunction with the Company's financial results, investor presentation, press release and other statutory filings. Nothing contained herein should be construed as investment advice or as a solicitation to buy, sell or hold securities of the Company. The Company does not undertake any obligation to update any forward- looking statements, except as required under applicable law. In case of any discrepancy, the audio recording of the webinar shall prevail. Transcript Shankhini Saha [00:00:03.860 - 00:00:58.210] Ladies and gentlemen, good afternoon. Welcome to HPL Electric and Power Limited's Q4 and FY26 earnings webinar produced by ElevEase. It's a pleasure to have you all here. So, I'm Shankhini, the Director of Investor Relations at Dickenson, the IR advisors to HPL, and I'll be moderating our call today. So joining us from the HPL management team is Mr. Gautam Seth. He's the joint MD and CFO of the company. To all our participants, just a disclaimer, please note that this conference is being recorded, and that some statements in this call may be forward-looking, based on current expectations. And subject to risks that could cause results to differ materially. You can download the HPL IR deck and press release for FY26 from the company website or the NSE. Perfect. So I'll hand over to Gautam now to begin with opening remarks. Over to you, Gautam. Mr. Gautam Seth [00:00:58.360 - 00:06:45.009] Yes. Yeah, thank you, Shankhini. Good afternoon, everyone, and thank you for joining us today. FY26 has been an important year for HPL. Revenue crossed 1,800 crores. And Q4 revenue crossed 500 crores for the first time. EBITDA grew ahead of revenue. Gross margins improved, and cash profit expanded, even as reported PAT reflected higher depreciation from capacity additions. HPL Electric is now visibly a two-engine electrical equipment and solutions company. smart metering, remains... Our long-cycle growth opportunity, with technology relevance. order book visibility, and a strong role in India's power distribution transformation. Consumer and industrial, the C&I segment. grounds the company through brand, channel, product breadth, and everyday customer connect. This balance is important. smart metering gives us scale and visibility, consumer and industrial gives us the resilience, market reach, faster business cycles, and a wider base of customers across residential, commercial. Institutional and industrial markets. Together, they make HPL a more diversified and more dependable business. The consumer and industrial delivered a strong year, revenue grew 26% to 784 crores, and its share of total revenue increased from 37% to 43% in FY26. Q4 was the strongest C&I quarter on record at 214 crores. This growth was not the result of a reduced focus on metering. It was, in fact, driven by stronger Internal execution, wider channel engagement, and a deeper product basket, a better traction across Multiple end markets. Within C&I, wires and cables was a standout performer, growing 50% in FY26 to 340 crores. The quality of this growth is encouraging, because it becomes broader and more volume-led. With demand from real estate, Industrial, solar, telecom, institutional, and domestic channels. This gives us greater confidence that the category is moving from a strong growth to structural scale-up. Switchgear continues to be a steady and strategically valuable part of HPL Electric. It benefits from our manufacturing depth. Technical credentials, and long-standing presence across industrial and channel-led markets. Lighting and fans, while competitive categories, help complete the C&I basket and improve HPL's relevance with dealers. Retailers, and end customers. Our distribution network remains a key asset. With more than 900 authorized dealers and 85,000 retailers, HPL has a reach that has been built over many years. Our product portfolio across wires and cables, switchgear, lighting and fans, becomes stronger, and the same network can support higher throughput. Stronger brand recall, and better operating leverage. At the same time, smart metering remains a major growth engine. The business faced an industry-wide execution disruption earlier in the year, but recovered through the FY26 and Q4 metering revenue was the strongest quarter of the year. Our order book continues to provide visibility with metering, accounting for more than 97% of the order book of over Rs. 3,200 crores as of 22nd May 26. Within this platform, Neeram Pulse, our smart water meter, represents a strategically important adjacency for the metering segment. It allows us to expand our metering R&D Communication technology and HPL Electric & Power Limited | Q4 and FY26 Earnings Webinar Transcript manufacturing capabilities into smart water infrastructure. We have also inaugurated a dedicated panel meter. an AMI water meter manufacturing facility at Gurugram. The near-term contribution will depend upon approvals, pilots, and utility adoption cycles, so we are approaching it in a calibrated manner. Strategically, it positions HPL early in a long-duration opportunity alongside electricity metering. Looking ahead, our focus across both engines, metering and systems, and consumer and industrial, is quality growth. Better product mix, pricing discipline, working capital focus, and calibrated capacity expansion with continued investments in R&D. In FY27, our priorities are executing on the smart metering order book and scaling C&I with quality while protecting our margins, managing receivables, and strengthening HPL as India's trusted Electrical equipment platform for the long term. So, on this note, let's open the floor for Q&A. Shankhini Saha [00:06:48.400 - 00:06:52.920] Thanks, Gautam. Request you to keep your camera on for the Q&A session. Shankhini Saha [00:06:55.460 - 00:07:54.299] Alright, so we'll start with the Q&A. Just a reminder to all our participants, please raise your hand to join the question queue. A quick reminder on how to raise your hand. If you're on desktop or laptop, look for the reactions button at the bottom of your Zoom window, click on it, then select Raise Hand from the options. Your name should appear in my queue, and I'll call on you in order. If you're on mobile or tablet, tap on the more dot dot dot button at the bottom right of your screen, then select Raise Hand from the menu. Great, so we'll get started with the Q&A session. So, our first question is a question that's [Showing first 8,000 characters — download PDF for full document]