The company said in an exchange filing that it has received a letter of acceptance from CLW and the execution of the project is expected to be completed within 12 months.

The company also clarified that neither its promoters nor promoter group entities have any interest in the awarding authority. The company added that the contract does not fall under related-party transactions.

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.

The counter rose 2.30% to Rs 817.50 on the BSE.