HBL Engineering Updates on Kavach Business After Missing Key Tender

HBL Engineering Limited has disclosed that it did not win the CLW locomotive Kavach tender for 6,300 units, citing higher pricing compared to competitors. The loss reduces its visible locomotive demand from 18,429 to 12,129 units. Despite this setback, the company remains confident in its Kavach business, projecting total revenue of ₹1,900 crore for FY2027 — with ₹1,000 crore expected from locomotive systems and ₹900 crore from station projects. It also has ₹400 crore worth of station orders slated for FY2028. For FY2026, the company expects Kavach sales of ₹1,880 crore, showing strong current performance. It noted that future tenders in the station segment could provide additional growth opportunities. The update underscores HBL’s transparency and diversified exposure across India’s rail safety modernization program, even amid intensifying competition.