HEG Advanced Materials' subsidiary, Replus Engitech, has bagged a Rs 217.56 crore contract from Indus Towers to supply Lithium-Ion Battery Banks. The order is set for completion by March 2027. This contract boosts revenue visibility for the company’s energy storage business and confirms that the deal is at arm's length with no promoter group involvement.
HEG Subsidiary Secures Rs 217.56 Crore Indus Towers Battery Order
Contract Value: Rs 217.56 crore. Delivery Deadline: March 31, 2027.
Reader Takeaway: Strong revenue visibility for energy storage business; no related-party conflict ensures clean corporate governance.
What just happened
HEG Advanced Materials Limited has announced that its subsidiary, Replus Engitech Private Limited, has secured a significant order from Indus Towers Limited. The contract involves the supply of Lithium-Ion Battery Banks valued at Rs 217.56 crore, inclusive of GST. The execution of this order is expected to be completed by March 31, 2027.
Why this matters
This order represents a material business development for the subsidiary, reflecting growing demand for energy storage solutions in the telecommunications infrastructure sector. For shareholders, it translates into clearer revenue streams and demonstrates the group's successful expansion into advanced materials and energy storage systems beyond its core graphite business.
Governance and Compliance
HEG Advanced Materials has explicitly stated that this transaction is conducted on an arm’s length basis. The company confirmed that neither the promoters, promoter group, nor any group entities have any financial interest in Indus Towers Limited, ensuring the deal remains free from related-party transaction concerns.
What to track next
Investors should monitor the company’s quarterly earnings updates to track revenue recognition from this project. Furthermore, meeting the March 2027 deadline will be a critical metric for gauging the operational efficiency of the Replus Engitech subsidiary as it scales its operations.