Replus Engitech, a unit of HEG Advanced Materials, just landed a ₹127.35 cr order from Indus Towers to supply lithium‑ion battery banks, with delivery slated for no later than 31 May 2027.
The order follows a ₹217.56 cr contract awarded earlier this month, also for lithium‑ion batteries, due for delivery by 31 Mar 2027. Together, the two deals bring the total new business from Indus Towers to ₹344.91 cr, signalling a deepening partnership.
HEG Advanced Materials’ Q1 FY26 figures show revenue of ₹680 cr, up 12.86% QoQ and 10.35% YoY, while net profit hit ₹91 cr, a 3.79% rise YoY. The filing noted a 165.35% decline QoQ, a figure that requires verification.
Indus Towers, the telecom tower arm, posted a 0.5% YoY rise in net profit to ₹1,746 cr and revenue of ₹8,431 cr, its EBITDA margin settling at 53.6% versus 54.5% a year earlier.
Replus Engitech’s memorandum of understanding with Indus Towers, signed 30 Sep, will deploy 1.5 GWh of dedicated BESS capacity over two years, with a plan to broaden its telecom energy‑storage portfolio including sodium‑ion options.
Looking ahead, the company expects to leverage the new contracts to scale its BESS output, with guidance of further orders pending in Q2. Shares traded down 0.40% to ₹236.69 on the BSE, reflecting short‑term volatility amid the announcement.