The contract is scheduled to be completed on or before 31 March 2028, the company said in a regulatory filing.

The company clarified that the contract has been awarded by a domestic entity. It also stated that none of its promoters or promoter group entities has any interest in the awarding authority, and the transaction does not qualify as a related-party transaction.

HBL Engineering (formerly known as HBL Power Systems) manufactures different types of batteries, including lead acid, NiCad, silver zinc, lithium, and railway & defence electronics and other products.

The company reported a 41.8% rise in consolidated net profit to Rs 63.75 crore on a 27.0% increase in revenue from operations to Rs 604.12 crore in Q4 FY26 over Q4 FY25.