HBL Engineering's Sales Lower Than Projected for FY 2025, but Kavach Orders Surge

HBL Engineering Ltd. has updated its stakeholders regarding the sales performance for FY 2025. Contrary to the projection on the Annual Report cover page for FY 2024, which indicated no growth in sales, the actual sales for FY 2025 were lower by Rs.263 Crores than FY 2024 (Rs.1,946 Crores versus Rs.2,209 Crores). This decline was primarily due to lower than expected sales of Kavach, which were Rs.141 Crores lower than projected. However, the company has reported that Kavach orders on hand are now at Rs.3,763.83 Crores (Including GST @ 18%). HBL Engineering was the first company to receive the Kavach 4.0 certification, and as of today, it remains the only company to have done so. The company expects total sales for FY 2026 to be around Rs.3,000 Crores.