The project is to be executed over the next 12 months.
HBL Engineering (formerly known as HBL Power Systems) manufactures different types of batteries, including lead acid, NiCad, silver zinc, lithium, and railway & defense electronics and other products.
The company reported a more than fourfold jump in consolidated net profit to Rs 387.27 crore in Q2 FY26, compared with Rs 87.26 crore in the same quarter last year. Revenue from operations surged 134.7% YoY to Rs 1,222.90 crore in Q2 September 2025.