Prostarm Info Systems hit a 10 per cent upper circuit to reach Rs 207.95 after announcing that it had received a Letter of Award (LOA) worth Rs 457 million from Karnataka Power Transmission Corporation (KPTCL).

The contract involves the installation of a 150 MW / 300 MWh standalone Battery Energy Storage System (BESS) at the 400kV Doni Substation, operating at a 220kV voltage level, in Gadag District, Karnataka.

The project was awarded under the Tariff Based Competitive Bidding (TBCB) mode on a Build-Own-Operate (BOO) basis for a tenure of 12 years. The order includes a rental agreement of Rs 25,400 per MW per month, amounting to an annual rental income of Rs 457 million for the full 150 MW / 300 MWh capacity. The project will also receive Viability Gap Funding (VGF) of Rs 2.7 million per MWh or 30 per cent of the capital cost of the BESS, whichever is lower.

The company clarified that its promoters, promoter group and related entities have no interest in the awarding authority and confirmed that the transaction does not qualify as a related party transaction under applicable regulatory norms.

Prostarm Info Systems is a power solutions provider specialising in UPS systems, inverters, lithium-ion battery packs and solar EPC projects. The company designs, manufactures and assembles products both in-house and through partners in India and China. It serves sectors such as healthcare, IT, defence and energy through direct sales and a nationwide distributor network. The company operates three units in Maharashtra and has expanded its technology capabilities through strategic acquisitions and licensing agreements.

In the first quarter of FY26, the company reported a consolidated net profit of Rs 18.3 million and net sales of Rs 549 million.