HEG Advanced Materials Subsidiary Replus Engitech Wins ₹217.56 Crore Lithium-Ion Battery Order from Indus Towers
HEG Advanced Materials Limited, formerly known as HEG Limited, has announced that its subsidiary Replus Engitech Private Limited has received orders worth ₹217.56 crore from Indus Towers Limited for the supply of Lithium-Ion Battery Banks.
The company submitted a revised disclosure to the stock exchanges on September 18, 2026, under Regulation 30 of the SEBI Listing Regulations.
₹217.56 Crore Lithium-Ion Battery Order
According to the revised disclosure, Replus Engitech has received orders from Indus Towers Limited, formerly known as Bharti Infratel Limited.
The order involves the supply of Lithium-Ion Battery Banks and has a total consideration of ₹217.56 crore, inclusive of GST.
The order has been awarded by a domestic entity.
Order Execution Timeline
Replus Engitech is required to execute the order on or before March 31, 2027, or such extended date as may be mutually agreed between the parties.
The company has not disclosed any additional special terms beyond the general conditions specified in the purchase orders.
No Promoter Interest or Related-Party Transaction
HEG Advanced Materials said that the promoter or promoter group of the company does not have any interest in Indus Towers, the entity awarding the order.
The company also clarified that the transaction does not fall under related-party transactions.
Why This Order Matters
The order is relevant to investors because it provides a sizeable business opportunity for Replus Engitech, HEG Advanced Materials’ subsidiary, in the Lithium-Ion Battery Bank segment.
The ₹217.56 crore order also adds visibility to the subsidiary’s business pipeline through March 2027, subject to execution and the mutually agreed timeline.
However, the filing does not provide details on the profit margin, EBITDA contribution, capacity utilisation or expected profitability from this particular order. Therefore, the ₹217.56 crore order value should not be treated as equivalent to revenue or profit.
Revised Disclosure Clarifies Order Value
HEG Advanced Materials said the September 18 revised disclosure was submitted to correct an inadvertent omission in its earlier disclosure.
The earlier filing mentioned “Rs. 217.56” without specifying the unit as “Crore” in the relevant section. The revised filing clarifies that the order value is ₹217.56 crore, inclusive of GST.
Key Details of the Order
- Company: HEG Advanced Materials Limited
- Subsidiary: Replus Engitech Private Limited
- Customer: Indus Towers Limited
- Order: Supply of Lithium-Ion Battery Banks
- Order Value: ₹217.56 crore, including GST
- Customer Type: Domestic entity
- Execution: On or before March 31, 2027, subject to mutually agreed extension
- Related Party Transaction: No
- Promoter/Promoter Group Interest in Customer: No
Investor Takeaway
The ₹217.56 crore Lithium-Ion Battery Bank order is a material business-development announcement for HEG Advanced Materials through its subsidiary Replus Engitech.
The key factor for investors going forward will be the execution of the order and the resulting revenue and profitability contribution, neither of which has been quantified in the filing.
Source: HEG Advanced Materials Limited stock exchange disclosure dated September 18, 2026.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Investors should review the company’s official filings and conduct their own research before making investment decisions.