HEG Advanced Materials rose 1.87 per cent to Rs. 243 after its subsidiary, Replus Engitech, received orders worth Rs. 2.18 bn from Indus Towers for the supply of lithium-ion battery banks. The orders are scheduled to be completed by 31 March 2027, unless the parties mutually agree to an extended deadline.

Replus Engitech supplies lithium-ion energy storage solutions for stationary storage, telecommunications and electric mobility applications. The company operates a 1 GWh automated battery manufacturing facility in Pune, with the capacity scalable to 6 GWh.

The subsidiary has deployed 100 MWh of battery energy storage system projects across India. Its operations form part of HEG Advanced Materials’ battery energy solutions business, which serves applications across the energy-storage ecosystem.

The company’s restructuring followed a composite scheme of arrangement sanctioned by the National Company Law Tribunal (NCLT). Under the scheme, HEG’s graphite electrodes business was demerged into HEG Graphite, while Bhilwara Energy was amalgamated into the existing listed entity.

The scheme became effective on 1 September 2026, and 7 September 2026 was set as the record date for determining shareholder entitlement. The restructuring created two separately listed entities, with HEG Advanced Materials retaining its advanced materials, battery energy solutions and green power businesses.

HEG Advanced Materials focuses on advanced battery materials, graphene, battery energy solutions and green power. Its activities cover research, product development and commercialisation for the electric vehicle, battery energy storage system and wider energy-storage markets.