Shares of HEG Advanced Materials moved higher on Thursday after its subsidiary Replus Engitech secured a Rs 127.35 crore order from Indus Towers for the supply of lithium-ion battery banks. 

The domestic order includes GST and is scheduled to be executed by May 31, 2027, unless both parties agree to an extension.

Replus Engitech, a subsidiary of HEG Advanced Materials, will supply lithium-ion battery banks under the latest contract. The company said the order has been awarded by a domestic entity and will be executed according to the general terms and conditions specified in the purchase order. The transaction is not classified as a related-party transaction.

The latest contract adds to Replus Engitech’s growing business in battery energy storage and telecom applications. The company had earlier received orders worth Rs 217.56 crore from Indus Towers for lithium-ion battery banks, with execution scheduled by March 31, 2027.

Replus is also expanding its relationship with Indus Towers beyond individual supply orders. On October 1, the two companies signed a memorandum of understanding to explore battery energy storage system solutions for India’s telecom infrastructure. Under the proposed framework, Replus plans to make 1.5 GWh of dedicated production capacity available over two years. 

The collaboration will also explore higher-capacity systems and technologies such as sodium-ion batteries.

Replus operates a lithium-ion battery manufacturing facility in Pune with an initial capacity of 1 GWh, which can be scaled up to 6 GWh. Its battery solutions are used across stationary storage, telecom and electric mobility applications. The business forms part of HEG Advanced Materials’ broader focus on advanced battery materials, energy storage, graphene and green power.

The latest order strengthens the company’s presence in the telecom energy-storage market and adds to its order visibility. Investors will now track execution of the Indus Towers contract and the planned expansion of Replus’ battery production capacity.

At 3:30 pm, the shares of HEG Advanced Materials closed 0.69% higher at Rs 239.28 on NSE.

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