Smart metering execution delays
State-level disruptions (elections, policy changes) could slow meter installations and revenue recognition.
HPL / Q4-FY26 / risks
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HPL Electric & Power · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Customer concentration in AMISPs
Analyst raised concern about concentration risk with large AMISPs like Adani; management acknowledged supplying to all major players but did not quantify exposure.
CNI margin pressure from commodity costs
Rising commodity prices (metals, plastics) have compressed CNI margins; price pass-through is lagged and may not fully offset.