HBL Engineering bags ₹575-crore KAVACH systems order from Integral Coach Factory
Mumbai: HBL Engineering Limited on Friday said it has secured an order worth ₹575 crore (inclusive of 18% GST) from the Integral Coach Factory (ICF), Chennai, for the supply, testing and commissioning of on-board KAVACH equipment (Version 4.0).
In a regulatory filing, the company stated that the order has been received from a domestic entity and will be executed within a period of 12 months.
KAVACH is India’s indigenous automatic train protection system, aimed at enhancing railway safety by preventing collisions and improving operational efficiency. The order strengthens HBL Engineering’s presence in the railway safety and signalling segment, a key focus area amid rising investments in rail infrastructure.
The company clarified that none of the promoters or promoter group entities have any interest in the awarding entity and that the transaction does not fall under related party transactions.
HBL Engineering, formerly known as HBL Power Systems Limited, said the contract has been awarded on an arm’s length basis in compliance with applicable SEBI regulations.
Shares of HBL Engineering are listed on the NSE under the symbol HBLENGINE and on the BSE under scrip code 517271.