HPL to integrate electronics into mechanical products for technological advancement and overcoming challenges
May 2, 2023 1:50 pm
Gautam Seth shares that HPL Electric aims to continue developing new products and evolving as a technology company while striving for further growth and success.
What are the latest developments and challenges faced in this industry?
Compared to last year, the outlook for the industry appears positive. Our company has experienced double-digit growth across all product segments and customer levels, including utility, industrial, residential, and commercial. This growth trend is expected to continue throughout the current year.
The electronics industry has been driving significant changes, particularly with the emergence of smart meters and communicable switch gears. This has become our focus, and we are developing products accordingly. The year circuit breaker and the MCCB already have some communication capabilities, but we are working on making them more communicable across all segments. We are also integrating more electronics into our mechanical products to overcome the challenges and improve technology.
The supply chain has been a significant challenge in the last couple of years due to disruptions and price surges in some commodities and electronics. However, in the past three months, there has been a more stable pricing and supply chain environment. It is hoped that things will continue to improve as time goes on.
What are the new advancements in HPL’s product range?
Our company has four product verticals: metering, switchgear, lighting, and wire and cables. We are showcasing our entire range of products at the exhibition. In terms of new products, we have made a lot of advancements in each of the four product verticals. For instance, we have the latest range of smart meters, which are in high demand, especially in India. We have also developed microprocessor-based MCCBs, automatic transfer switches, new distribution boards, and a complete range of solar components for the solar industry. Furthermore, we have also introduced specialty cables like telecom and 4G cables.
What steps is the company taking to ensure that it continues to evolve as a technology company amidst the changing landscape of the manufacturing industry?
This year, our company anticipates significant growth across all sectors of the Indian economy, buoyed by the country’s rapid expansion of its manufacturing base. Thanks to our integrated capabilities and international division’s presence in more than 50 countries, we are well-positioned to capitalise on this trend. In the future, we aim to expand our reach even further through events such as Hannover Messe while deepening our engagement with the countries where we operate. Our focus remains on developing new products and evolving as a technology company, and we remain committed to pursuing further growth and success.