HBL Engineering Secures Rs.575 Crore Order from Integral Coach Factory
Filing Summary
HBL Engineering Ltd has accepted an order valued at Rs.575 Crores, including 18% GST, from the Integral Coach Factory, Chennai. The contract involves the supply, testing, and commissioning of On-Board Kavach Equipment (Version 4.0). The project is scheduled for completion within 12 months. This transaction does not involve any related party interests. HBL Engineering, formerly known as HBL Power Systems Limited, is focused on expanding its capabilities in engineering solutions.
HBL Engineering Ltd has announced the acceptance of an order worth Rs.575 Crores, inclusive of 18% GST, from the Integral Coach Factory, Chennai. The order pertains to the supply, testing, and commissioning of On-Board Kavach Equipment (Version 4.0). The contract is expected to be completed within a 12-month timeframe.
The order from the Integral Coach Factory is classified as a domestic transaction. The scope of the contract includes the provision of specific equipment designed to enhance onboard safety systems. The financial consideration for this contract is set at Rs.575 Crores, which includes applicable taxes.
HBL Engineering has confirmed that none of its promoters or promoter groups have any interest in the transaction with the Integral Coach Factory. Additionally, the transaction does not fall under the category of Related Party Transactions, ensuring it is conducted at arm’s length.
The Integral Coach Factory is a prominent entity in the manufacturing of rail coaches and is part of the Indian Railways. It focuses on developing and implementing advanced technologies to enhance the safety and efficiency of rail operations.
HBL Engineering Ltd, formerly known as HBL Power Systems Limited, specializes in engineering solutions with a focus on safety and technology integration. The company is committed to expanding its portfolio in the engineering sector, leveraging its expertise to deliver comprehensive solutions to its clients.