HBL Engineering FY27 Kavach Business: Rs. 1,900 Cr Expected Sales
HBL Engineering expects Kavach business sales of at least ₹1,900 Crores in FY 2027, comprising ₹1,000 Crores from loco units and ₹900 Crores from station business. The company did not secure orders from the CLW loco Kavach tender. Kavach sales for FY 2026 are estimated at ₹1,880 Crores.
The update provides specific revenue projections for FY27 from the Kavach business, which is a significant portion of the company's expected sales. However, the loss of a specific tender prevents a 'HIGH' impact.
The announcement provides an update on business expectations and order book, which is neither significantly positive nor negative. While the company did not secure an order from a specific tender, it maintains strong expectations for future revenue from the Kavach business.
HBL Engineering Limited (formerly HBL Power Systems Limited) has provided an update on its Kavach business. Out of the CLW loco Kavach tender for 6,300 units, HBL did not secure any orders due to lower bids from other competitors.
Previously, on December 18, 2025, HBL had intimated about the Kavach Loco business, expecting a total demand of 18,429 units for the year. This demand forecast has now been revised downwards to 12,129 loco units. Despite this, HBL anticipates securing business worth at least ₹1,000 Crores from this segment during FY 2027, with carry-forward business into FY 2028.
Regarding Kavach station business, HBL currently holds orders amounting to ₹900 Crores, planned for invoicing in FY 2027. An additional ₹400 Crores is expected in FY 2028. Further tenders are anticipated in FY 2027, with potential for some value to be delivered within the same fiscal year.
Overall, HBL's estimated sales for all Kavach business in FY 2027 are projected to be at least ₹1,000 Crores from loco units and ₹900 Crores from station business, totaling ₹1,900 Crores. For context, HBL expects total Kavach sales of ₹1,880 Crores in FY 2026.
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HBL Engineering Limited filed this with the NSE as a statutory disclosure, categorised under business responsibility and sustainability report (brsr). It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by HBL Engineering Limited. Read the original for the full detail.