HBL received letter of acceptance from Banaras Locomotive Works for supply, testing and commissioing of On-Board Kavach equipment (version 4.0) worth Rs.179.79 Crores (inclusive of 18% GST).
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HBL Engineering has received a Letter of Acceptance from Banaras Locomotive Works (BLW), Varanasi, a unit of Indian Railways, for the supply, testing and commissioning of On-Board KAVACH equipment (Version 4.0). The total contract value is Rs.179.79 Crores, inclusive of 18% GST. The order is domestic and must be completed on or before February 15, 2027. KAVACH is India's indigenous automatic train protection system, and this win strengthens HBL's position in the railway safety segment. The disclosure was made under SEBI's Regulation 30 listing requirements, and the transaction is not a related party deal.
This is a sizeable government order for HBL Engineering, boosting its order book in the railway signalling and safety segment. It should support revenue visibility over the next several quarters and is a positive signal for the stock, though investors should watch execution and delivery timelines.