HBL Engg Gains After Rs 314.9 mn Kavach Contract From ICF Chennai

06 Aug 2026 CW Team

HBL Engineering (HBL Engg) said it has received a contract worth Rs 314.9 mn from the Integral Coach Factory (ICF), Chennai, for the supply, installation, testing and commissioning of on-board Kavach loco equipment version 4.0. The stock rose two point three six per cent to Rs 736.40 after the regulatory filing. The contract is scheduled to be completed on or before 31 March 2028.

The filing stated the contract was awarded by a domestic entity and that neither the promoters nor promoter group entities have any interest in the awarding authority, so the transaction does not qualify as a related-party transaction. The scope covers supply and systems integration for locomotive safety equipment and includes testing and commissioning. The work will follow standard railway procedures.

HBL Engineering, formerly known as HBL Power Systems, manufactures batteries including lead acid, NiCad, silver zinc and lithium types, as well as railway and defence electronics and other products. The company noted its experience in rail electronics and diverse product portfolio supports its engagement in such projects.

In its results for the quarter, consolidated net profit rose 41.8 per cent to Rs 637.5 mn on a 27.0 per cent increase in revenue from operations to Rs 6.0412 bn in Q4 FY26 over Q4 FY25. The filing attributed the improvement to operational gains and higher sales volumes. The company said the contract would be executed on normal commercial terms without any related-party implications.

The company said the deal reinforces HBL Engg's position in the rail safety equipment segment and underscores its capability in systems integration and field commissioning. The delivery schedule through to 31 March 2028 will encompass on-site testing and acceptance procedures. Market participants noted the filing and the stock movement reflected investor response to the order book update.

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