HBL Engineering Secures Rs.800 Crore Contract from Banaras Locomotive Works
Filing Summary
HBL Engineering Ltd has received a letter of acceptance from Banaras Locomotive Works for the supply, testing, and commissioning of on-board Kavach Equipment (version 4.0). The contract is valued at Rs.800.36 Crores, inclusive of 18% GST. 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, continues to focus on its core engineering solutions.
HBL Engineering Ltd has been awarded a contract by Banaras Locomotive Works for the supply, testing, and commissioning of on-board Kavach Equipment (version 4.0). The total value of this contract is Rs.800.36 Crores, which includes 18% GST. The contract is expected to be completed within a 12-month timeframe.
The letter of acceptance was issued by Banaras Locomotive Works, a domestic entity, to HBL Engineering. The contract involves the provision of specific engineering solutions, focusing on the supply, testing, and commissioning of the specified equipment. There are no significant terms and conditions disclosed beyond the scope of work and the completion timeline.
HBL Engineering has confirmed that none of its promoters or promoter group has any interest in this transaction. Additionally, the transaction does not fall under the category of related party transactions, ensuring that it is conducted at arm’s length.
Banaras Locomotive Works is a prominent entity involved in the manufacturing and maintenance of locomotives. It plays a critical role in supporting the Indian Railways with advanced locomotive solutions and infrastructure.
HBL Engineering Ltd, formerly known as HBL Power Systems Limited, specializes in providing engineering solutions across various sectors. The company focuses on delivering innovative and reliable products and services, maintaining its commitment to quality and customer satisfaction.