Shares of HEG Advanced Materials hit the 5% upper circuit on September 18 after its subsidiary Replus Engitech secured orders worth about Rs 217.56 crore from Indus Towers for the supply of lithium-ion battery banks. 

Replus Engitech, which specialises in lithium-ion battery packs and battery energy storage systems, received multiple orders from Indus Towers. 

The total contract value, including GST, stands at approximately Rs 217.56 crore. The orders are expected to be completed by March 31, 2027, unless both parties mutually agree to extend the timeline.

The contract strengthens Replus Engitech’s presence in the telecom energy-storage segment. The company develops battery solutions for telecom infrastructure, electric mobility and stationary applications. Its product portfolio includes lithium-ion battery systems supported by in-house battery management and energy management capabilities.

The latest order also adds to HEG Advanced Materials’ growing exposure to the battery and energy-storage business. Replus Engitech is part of the company’s broader diversification beyond its traditional graphite electrode operations. HEG holds a 74% stake in Replus Engitech, according to the company’s corporate disclosures.

The company recently changed its name from HEG Limited to HEG Advanced Materials Limited as part of its broader positioning around advanced materials and new-energy businesses. The name change became effective in September 2026.

The order from Indus Towers could provide additional revenue visibility for Replus Engitech through FY27, although the actual financial impact will depend on execution and recognition of revenue over the contract period.

HEG Advanced Materials shares closed at Rs 237.05 during the session on September 18, up nearly 5%.

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