HEG Advanced Materials Limited announced that its subsidiary, Replus Engitech Private Limited, has received significant orders from Indus Towers Limited (formerly Bharti Infratel Limited) for the supply of Lithium-Ion Battery Banks. The total consideration for these orders is approximately ₹217.56 crore. The orders are expected to be executed by March 31, 2027, or a mutually agreed upon extended date.
Subsidiary Secures Major Lithium-Ion Battery Contract
HEG Advanced Materials Limited has disclosed a significant development concerning its subsidiary, Replus Engitech Private Limited. The subsidiary has successfully secured multiple orders from Indus Towers Limited, formerly known as Bharti Infratel Limited, for the supply of Lithium-Ion Battery Banks. This marks a crucial expansion in HEG’s subsidiary’s business operations and revenue stream.
Order Details and Financials
The total consideration for the awarded orders amounts to Rs. 217.56 Crore (Rupees Two Hundred Seventeen Crore Fifty Six Lakh only). This figure is inclusive of Goods and Services Tax (GST). The agreement specifies that the orders have been awarded by a domestic entity, Indus Towers Limited, indicating a strong domestic market demand for HEG’s subsidiary’s products.
Execution Timeline and Nature of Transaction
The execution of these orders is planned to be completed by March 31, 2027. Provision has been made for potential extensions, subject to mutual agreement between the parties involved. Importantly, the transaction has been confirmed as not falling under related party transactions, and it is being conducted at an ‘arm’s length’ basis, ensuring fair dealing.
This substantial order from a key player in the telecommunications infrastructure sector is expected to contribute significantly to HEG Advanced Materials’ future financial performance.
Source: BSE
