HBL Engineering Limited is an India-based company that is engaged in design, development, and manufacturing of specialized batteries and electronic solutions. The Company is also engaged in service activities related to its products. Incorporated in 1983, HBL Power System Ltd manufactures and services different types of batteries, e-mobility, and other products and has evolved into a leading player in the power systems industry.
The Company's segments include Industrial batteries, Defence and Aviation batteries, and Electronics. The Company operates its business under three primary verticals: battery, electronics, and defense. Its electronics business vertical is sub-divided into railway electronics and electric mobility.
The company operates through three main business verticals that demonstrate its diverse capabilities across critical sectors. In the railway electronics segment, its flagship products in this vertical are the train collision avoidance system (TCAS), which addresses the issue of safety, and train management system (TMS), which is designed for efficient track utilization. The company has recently secured significant contracts for the Kavach system, a crucial railway safety technology.
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 has established a strong position in the specialized battery market, particularly in industrial and defence applications.
The company ranks 2nd globally in the industrial nickel batteries segment and 3rd in India's VRLA lead batteries segment. It is also the only manufacturer of PLT lead batteries in the country. This unique positioning demonstrates HBL Engineering's technological capabilities and market dominance in specialized battery solutions.
The company is almost debt-free. The company has delivered good profit growth of 64.5% CAGR over the last 5 years, indicating strong financial management and growth trajectory over the medium term.
As of July 2025, HBL Engineering has a market capitalization of ₹16,937 Crore (and ₹17,472 Crore according to different sources). For the financial year ended March 2025, HBL Engineering Ltd had posted a profit of ₹280.35 Crore on a total income of ₹2,233.36 Crore.
However, the company's recent quarterly performance has shown some challenges. On a consolidated basis, HBL Engineering Ltd reported a profit of ₹52.32 Crore on a total income of ₹482.41 Crore for the quarter ended 2025. HBL Engineering Ltd's net profit fell -44.8% since last year same period to ₹44.96 Crore in Q4 FY2024-2025.
For Q3 2024-25, HBL Engineering Ltd's revenue fell -25.22% since last year same period to ₹452.10 Crore. HBL Engineering Ltd's net profit fell -18.26% since last year same period to ₹64.61 Crore.
- Revenue (TTM): ₹1,967.2 Crore (Operating Revenue TTM)
- Net Profit (TTM): ₹276.9 Crore (Net profit TTM)
- Net Profit Margin: 14.1% (Net Profit Margin TTM %)
- Promoter Holding: 59.1%
- 52-Week High/Low: The HBL Engineering Ltd's 52-week high share price is ₹738.65 and 52-week low share price is ₹404.30.
The company has been actively securing major contracts in the railway sector.
- ₹30.67 Crore order from South Central Railway for Kavach upgrade over 350 km, 24-month timeline.
- HBL awarded ₹132.95 Crore Kavach contract for 446 km railway section, 18 months completion.
- ₹101.55 Crore Kavach contract over 778 km, 85 stations, 18 months awarded by IRCON to HBL.
The Total accumulated order book including this order for upgradation of Kavach system is ₹4,029.05 Crore. This substantial order book provides visibility for future revenue growth and demonstrates the company's strong position in the railway safety systems market.
The stock has experienced significant volatility in recent periods. Last 3 Years: HBL Engineering Ltd share price moved up by 560.85% on BSE. However, recent performance has been challenging, with In the past five days, HBL Engineering share price has tumbled 19.6%. In the last month, it has dropped 11.3%.
HBL Engineering Ltd is listed on both major Indian stock exchanges with BSE: 517271 NSE: HBLENGINE and is part of several key indices including BSE 500, Nifty 500, BSE SmallCap, Nifty Smallcap 100, BSE Allcap, BSE Industrials, BSE 250 SmallCap Index, BSE 400 MidSmallCap Index.
The company's strong order book, market-leading position in specialized batteries, and focus on critical sectors like defense and railway electronics position it well for long-term growth, despite recent quarterly challenges that have impacted short-term performance.```
