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.