HBL Engineering Loses Out on CLW Loco Kavach Tender, but Anticipates Rs.1,000 Crores Business in FY 2027

HBL Engineering Ltd. failed to secure any orders from the recent CLW loco Kavach tender due to lower pricing from other bidders. The company's intimation to the exchanges on 18 Dec 2025 initially reported a total expected demand of 18,429 loco units for the Kavach business. However, this number has now been revised to 12,129 units following the tender outcome. HBL expects to secure business worth at least Rs.1,000 Crores during FY 2027 and carry it forward into FY 2028. Additionally, the company has orders in hand for Kavach station business worth Rs.900 Crores, which are planned to be invoiced during FY 2027, with an additional Rs.400 Crores expected in FY 2028. More tenders for Kavach station business are expected in FY 2027, with potential deliveries in the same fiscal year. In FY 2027, HBL anticipates total sales of at least Rs.1,900 Crores from Kavach business, consisting of loco units worth Rs.1,000 Crores and station business worth Rs.900 Crores.