diff --git a/platform/mellanox/hw-management.mk b/platform/mellanox/hw-management.mk
index fc27ef02ca70..8c57fb63992a 100644
--- a/platform/mellanox/hw-management.mk
+++ b/platform/mellanox/hw-management.mk
@@ -16,7 +16,7 @@
 #
 # Mellanox HW Management
 
-MLNX_HW_MANAGEMENT_VERSION = 7.0030.1010
+MLNX_HW_MANAGEMENT_VERSION = 7.0030.1011
 
 export MLNX_HW_MANAGEMENT_VERSION
 
diff --git a/platform/mellanox/hw-management/hw-mgmt b/platform/mellanox/hw-management/hw-mgmt
index f0f19d3e570c..c7d4c31a212e 160000
--- a/platform/mellanox/hw-management/hw-mgmt
+++ b/platform/mellanox/hw-management/hw-mgmt
@@ -1 +1 @@
-Subproject commit f0f19d3e570ced88d90da4859c14839a06900cbe
+Subproject commit c7d4c31a212eec6a5543f554ffb2c63c5cb621e3