{"id":303077,"date":"2026-10-12T16:36:44","date_gmt":"2026-10-12T11:06:44","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=303077"},"modified":"2026-10-12T16:36:44","modified_gmt":"2026-10-12T11:06:44","slug":"solar-module-and-smart-metering-stocks-future-pipeline-picks","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/","title":{"rendered":"3 Solar Module and Smart Metering Stocks With a Strong Future Roadmap: Vikram Solar, Pace Digitek and HPL Electric &#038; Power"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Vikram Solar Rs 142.32, P\/E 14.56. Pace Digitek Rs 165.13, P\/E 11.08. HPL Electric Rs 257.90, P\/E 18.03. Closing prices of 9 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Solar module and smart metering stocks with the clearest long-term roadmaps today include Vikram Solar in solar module manufacturing, Pace Digitek in telecom infrastructure, solar and energy storage and HPL Electric in smart meters, switchgear and lighting. FY26 revenue growth was 40.9% at Vikram Solar, 9.1% at Pace Digitek and 6.5% at HPL Electric. P\/E stands at 14.56 for Vikram Solar (industry 47.09), 11.08 for Pace Digitek (industry 18.50) and 18.03 for HPL Electric (industry 47.09). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Solar module and smart metering stocks give investors exposure to solar panels, meters and network equipment for power and telecom customers. Order inflow, capacity use and margins decide how much of that demand turns into profit.<\/p>\n<p>This list covers three solar module and smart metering stocks: Vikram Solar for solar module manufacturing, Pace Digitek for telecom infrastructure, solar and energy storage and HPL Electric &amp; Power for smart meters, switchgear and lighting. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=solar-module-and-smart-metering-stocks-future-pipeline-picks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#What_Are_Solar_Module_and_Smart_Metering_Stocks\" title=\"What Are Solar Module and Smart Metering Stocks?\">What Are Solar Module and Smart Metering Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Solar_Module_and_Smart_Metering_Stocks_at_a_Glance\" title=\"Solar Module and Smart Metering Stocks at a Glance\">Solar Module and Smart Metering Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Why_Do_Solar_Module_and_Smart_Metering_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Solar Module and Smart Metering Stocks Have a Strong Roadmap in India?\">Why Do Solar Module and Smart Metering Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Vikram_Solar_Solar_Module_Output_Drives_the_Pipeline\" title=\"Vikram Solar: Solar Module Output Drives the Pipeline\">Vikram Solar: Solar Module Output Drives the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Pace_Digitek_Telecom_and_Energy_Projects_Anchor_the_Roadmap\" title=\"Pace Digitek: Telecom and Energy Projects Anchor the Roadmap\">Pace Digitek: Telecom and Energy Projects Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#HPL_Electric_Power_Smart_Meters_and_Switchgear_Anchor_the_Roadmap\" title=\"HPL Electric &amp; Power: Smart Meters and Switchgear Anchor the Roadmap\">HPL Electric &amp; Power: Smart Meters and Switchgear Anchor the Roadmap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Best_Solar_Module_and_Smart_Metering_Stocks_in_India_Vikram_Solar_vs_Pace_Digitek_vs_HPL_Electric_on_Key_Financials\" title=\"Best Solar Module and Smart Metering Stocks in India: Vikram Solar vs Pace Digitek vs HPL Electric on Key Financials\">Best Solar Module and Smart Metering Stocks in India: Vikram Solar vs Pace Digitek vs HPL Electric on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#How_to_Evaluate_Solar_Module_and_Smart_Metering_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Solar Module and Smart Metering Stocks to Buy Before You Invest\">How to Evaluate Solar Module and Smart Metering Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Risks_to_Consider_Before_Investing_in_Solar_Module_and_Smart_Metering_Stocks\" title=\"Risks to Consider Before Investing in Solar Module and Smart Metering Stocks\">Risks to Consider Before Investing in Solar Module and Smart Metering Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#FAQs_on_Solar_Module_and_Smart_Metering_Stocks\" title=\"FAQs on Solar Module and Smart Metering Stocks\">FAQs on Solar Module and Smart Metering Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Which_are_the_best_solar_module_and_smart_metering_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best solar module and smart metering stocks in India with a strong roadmap?\">Which are the best solar module and smart metering stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Is_Vikram_Solar_a_good_stock_to_buy_now\" title=\"Is Vikram Solar a good stock to buy now?\">Is Vikram Solar a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#What_is_the_PE_ratio_of_Vikram_Solar_Pace_Digitek_and_HPL_Electric\" title=\"What is the P\/E ratio of Vikram Solar, Pace Digitek and HPL Electric?\">What is the P\/E ratio of Vikram Solar, Pace Digitek and HPL Electric?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Which_of_these_solar_module_and_smart_metering_stocks_has_the_highest_return_on_equity\" title=\"Which of these solar module and smart metering stocks has the highest return on equity?\">Which of these solar module and smart metering stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#What_are_the_risks_of_investing_in_solar_module_and_smart_metering_stocks\" title=\"What are the risks of investing in solar module and smart metering stocks?\">What are the risks of investing in solar module and smart metering stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#How_did_Vikram_Solar_Pace_Digitek_and_HPL_Electric_perform_in_Q1_FY27\" title=\"How did Vikram Solar, Pace Digitek and HPL Electric perform in Q1 FY27?\">How did Vikram Solar, Pace Digitek and HPL Electric perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#Do_solar_module_and_smart_metering_stocks_pay_dividends\" title=\"Do solar module and smart metering stocks pay dividends?\">Do solar module and smart metering stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/solar-module-and-smart-metering-stocks-future-pipeline-picks\/#How_can_I_invest_in_solar_module_and_smart_metering_stocks_in_India\" title=\"How can I invest in solar module and smart metering stocks in India?\">How can I invest in solar module and smart metering stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Solar_Module_and_Smart_Metering_Stocks\"><\/span><strong>What Are Solar Module and Smart Metering Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Solar module and smart metering stocks are shares of companies that make modules, meters and infrastructure equipment for energy and telecom. Results depend on order inflow, capacity use and margins, so order inflow and margins separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Solar_Module_and_Smart_Metering_Stocks_at_a_Glance\"><\/span><strong>Solar Module and Smart Metering Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three solar module and smart metering stocks as of the 9 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/vikramsolr\/vikram-solar-ltd-share-price-today\">Vikram Solar<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">142.32<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,198<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.56<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">47.09<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.85%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.20<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/pacedigitk\/pace-digitek-ltd-share-price-today\">Pace Digitek<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">165.13<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,492<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.08<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.50<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.48%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.44<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/hpl\/hpl-electric-power-ltd-share-price-today\">HPL Electric &amp; Power<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">257.90<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,649<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.03<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">47.09<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.10%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.75<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among clean energy equipment stocks, all three trade at a discount to their industry P\/E multiples.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Solar_Module_and_Smart_Metering_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Solar Module and Smart Metering Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Solar module and smart metering stocks have a strong roadmap in India because solar capacity additions, smart meter rollouts and telecom build-outs create steady orders for local equipment makers. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Solar additions:<\/strong> Utility and rooftop projects need modules.<\/li>\n<li><strong>Smart metering:<\/strong> Power distributors are replacing old meters.<\/li>\n<li><strong>Network build-out:<\/strong> Telecom and storage projects add equipment demand.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Vikram_Solar_Solar_Module_Output_Drives_the_Pipeline\"><\/span><strong>Vikram Solar: Solar Module Output Drives the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Vikram Solar&#8217;s roadmap rests on solar module manufacturing for utility, commercial and rooftop projects, with rising solar installations supporting volumes.<\/p>\n<p>Revenue grew from Rs 1,743.05 crore in FY22 to Rs 4,861.87 crore in FY26, a 178.9% rise, and FY26 revenue was 40.9% higher than FY25. FY26 net profit was Rs 469.06 crore. In Q1 FY27, revenue grew 38.5% to Rs 1,575.71 crore. Operating margin was 20.17% in FY26.<\/p>\n<p>Debt to equity is 0.20 and return on equity is 14.85%. FY26 operating cash flow was Rs 666.94 crore against capital expenditure of Rs 283.09 crore. At a P\/E of 14.56 against an industry P\/E of 47.09, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 14.56 against an industry P\/E of 47.09 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pace_Digitek_Telecom_and_Energy_Projects_Anchor_the_Roadmap\"><\/span><strong>Pace Digitek: Telecom and Energy Projects Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pace Digitek&#8217;s roadmap rests on telecom infrastructure, solar and energy storage projects, with network and clean energy spending supporting orders.<\/p>\n<p>FY26 revenue was Rs 2,687.38 crore, 9.1% higher than FY25. FY26 net profit rose 10.1% to Rs 307.26 crore. In Q1 FY27, net profit rose 14.3% to Rs 62.51 crore. Operating margin was 19.11% in FY26.<\/p>\n<p>Debt to equity is 0.44 and return on equity is 13.48%. At a P\/E of 11.08 against an industry P\/E of 18.50, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 11.08 against an industry P\/E of 18.50 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"HPL_Electric_Power_Smart_Meters_and_Switchgear_Anchor_the_Roadmap\"><\/span><strong>HPL Electric &amp; Power: Smart Meters and Switchgear Anchor the Roadmap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>HPL Electric&#8217;s roadmap rests on smart meters, switchgear, lighting and wiring products, with the smart meter rollout supporting orders.<\/p>\n<p>Revenue grew from Rs 1,018.15 crore in FY22 to Rs 1,815.93 crore in FY26, a 78.4% rise, and FY26 revenue was 6.5% higher than FY25. FY26 net profit was Rs 91.25 crore. In Q1 FY27, revenue grew 34.7% to Rs 517.40 crore, and net profit rose 1.1% to Rs 18.69 crore. Operating margin was 15.51% in FY26.<\/p>\n<p>Debt to equity is 0.75 and return on equity is 9.10%. FY26 operating cash flow was Rs 226.48 crore against capital expenditure of Rs 182.81 crore. HPL Electric paid a dividend of Rs 1 per share for FY26, a yield of 0.39%. At a P\/E of 18.03 against an industry P\/E of 47.09, the stock trades below its industry multiple.<\/p>\n<p>What to watch: The P\/E of 18.03 against an industry P\/E of 47.09 leaves valuation less stretched, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Solar_Module_and_Smart_Metering_Stocks_in_India_Vikram_Solar_vs_Pace_Digitek_vs_HPL_Electric_on_Key_Financials\"><\/span><strong>Best Solar Module and Smart Metering Stocks in India: Vikram Solar vs Pace Digitek vs HPL Electric on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best solar module and smart metering stocks in India, Vikram Solar leads on FY26 revenue growth and FY26 operating margin; Pace Digitek leads on the lowest P\/E; HPL Electric leads on dividend yield. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Vikram Solar<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Pace Digitek<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">HPL Electric<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,861.87<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,687.38<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,815.93<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">40.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">469.06<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">307.26<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">91.25<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating profit margin<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.17%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.11%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.51%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.85%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.48%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.10%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.56<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.08<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.03<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.20<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.44<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.75<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Dividend yield<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.39%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Equipment earnings follow order inflow, capacity use and margins, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Solar_Module_and_Smart_Metering_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Solar Module and Smart Metering Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen solar module and smart metering stocks and shortlist solar module and smart metering stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check order book, capacity plans and operating margin together.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these solar module and smart metering stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Solar_Module_and_Smart_Metering_Stocks\"><\/span><strong>Risks to Consider Before Investing in Solar Module and Smart Metering Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Policy changes:<\/strong> Duties and incentives can affect pricing.<\/li>\n<li><strong>Order timing:<\/strong> Tender delays can shift revenue.<\/li>\n<li><strong>Quarterly trends:<\/strong> A single weak quarter can change near-term earnings, so track results every quarter.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Vikram Solar, Pace Digitek and HPL Electric live.<\/em><\/p>\n<p>Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.<\/p>\n<p>Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.<\/p>\n<p>The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.<\/p>\n<p>Spreading money across several sectors and company sizes helps keep a portfolio steady, because each business responds differently to interest rates, commodity prices and consumer demand.<\/p>\n<p>Investors who plan to hold for several years often review results twice a year, check whether management delivered on earlier guidance and compare progress with the original reasons for investing.<\/p>\n<p>Reading the notes to accounts and the management discussion section helps separate recurring income from one-time items, which matters when a single quarter looks unusually strong or weak.<\/p>\n<p>Position sizing matters as much as stock selection, because even a well-researched company can move against an investor in the short term for reasons unrelated to its business.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three clean energy equipment stocks cover solar modules, smart meters, telecom infrastructure and energy storage. Vikram Solar leads on FY26 revenue growth and FY26 operating margin; Pace Digitek leads on the lowest P\/E; HPL Electric leads on dividend yield.<\/p>\n<p>Across solar module and smart metering stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the solar module and smart metering stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Solar_Module_and_Smart_Metering_Stocks\"><\/span><strong>FAQs on Solar Module and Smart Metering Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_solar_module_and_smart_metering_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best solar module and smart metering stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Vikram Solar, Pace Digitek and HPL Electric &amp; Power stand out for their roadmaps in solar modules, smart meters, telecom infrastructure and energy storage. FY26 revenue growth was 40.9% at Vikram Solar, 9.1% at Pace Digitek and 6.5% at HPL Electric, and return on equity ranges from 9.10% to 14.85%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Vikram_Solar_a_good_stock_to_buy_now\"><\/span><strong>Is Vikram Solar a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Vikram Solar has a debt to equity ratio of 0.20, a return on equity of 14.85% and a P\/E of 14.56 against an industry P\/E of 47.09. Valuation, orders and policy changes move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Vikram_Solar_Pace_Digitek_and_HPL_Electric\"><\/span><strong>What is the P\/E ratio of Vikram Solar, Pace Digitek and HPL Electric?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 14.56 for Vikram Solar (industry 47.09), 11.08 for Pace Digitek (industry 18.50) and 18.03 for HPL Electric (industry 47.09). All of them trade below the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_solar_module_and_smart_metering_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these solar module and smart metering stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Vikram Solar has the highest return on equity at 14.85%, followed by Pace Digitek at 13.48% and HPL Electric &amp; Power at 9.10%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_solar_module_and_smart_metering_stocks\"><\/span><strong>What are the risks of investing in solar module and smart metering stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are policy changes, order timing and quarterly trends. Duties and incentives can affect pricing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Vikram_Solar_Pace_Digitek_and_HPL_Electric_perform_in_Q1_FY27\"><\/span><strong>How did Vikram Solar, Pace Digitek and HPL Electric perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Vikram Solar reported revenue of Rs 1,575.71 crore, up 38.5% year on year. Pace Digitek reported net profit rose 14.3% to Rs 62.51 crore. HPL Electric &amp; Power reported revenue of Rs 517.40 crore, up 34.7% year on year, and net profit rose 1.1% to Rs 18.69 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_solar_module_and_smart_metering_stocks_pay_dividends\"><\/span><strong>Do solar module and smart metering stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> HPL Electric pays dividends. The dividend yield is 0.39% for HPL Electric, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_solar_module_and_smart_metering_stocks_in_India\"><\/span><strong>How can I invest in solar module and smart metering stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy solar module and smart metering stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best solar module and smart metering stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vikram Solar, Pace Digitek and HPL Electric & Power stand out for their roadmaps in solar modules, smart meters, telecom infrastructure and energy storage. FY26 revenue growth was 40.9% at Vikram Solar, 9.1% at Pace Digitek and 6.5% at HPL Electric, and return on equity ranges from 9.10% to 14.85%.\"}},{\"@type\":\"Question\",\"name\":\"Is Vikram Solar a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vikram Solar has a debt to equity ratio of 0.20, a return on equity of 14.85% and a P\/E of 14.56 against an industry P\/E of 47.09. 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All of them trade below the industry multiple.\"}},{\"@type\":\"Question\",\"name\":\"Which of these solar module and smart metering stocks has the highest return on equity?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vikram Solar has the highest return on equity at 14.85%, followed by Pace Digitek at 13.48% and HPL Electric & Power at 9.10%.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in solar module and smart metering stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are policy changes, order timing and quarterly trends. Duties and incentives can affect pricing.\"}},{\"@type\":\"Question\",\"name\":\"How did Vikram Solar, Pace Digitek and HPL Electric perform in Q1 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Vikram Solar reported revenue of Rs 1,575.71 crore, up 38.5% year on year. Pace Digitek reported net profit rose 14.3% to Rs 62.51 crore. 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Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Vikram Solar, Pace Digitek and HPL Electric &#038; Power compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":38,"featured_media":303076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[7905,11374,11375,11376],"class_list":["post-303077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-pace-digitek","tag-solar-module-and-smart-metering-stocks","tag-solar-module-and-smart-metering-stocks-to-buy","tag-vikram-solar"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["303076"],"rank_math_title":["Solar Module and Smart Metering Stocks: Top 3 Roadmap Picks"],"rank_math_description":["Solar module and smart metering stocks with a strong roadmap: Vikram Solar, Pace Digitek and HPL Electric compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["solar module and smart metering stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-solar-module-and-smart-metering-stocks-with-a-strong-future-roadmap-vikram.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/303077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=303077"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/303077\/revisions"}],"predecessor-version":[{"id":303078,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/303077\/revisions\/303078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/303076"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=303077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=303077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=303077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}