Document Context

HBL Engineering Limited (formerly HBL Power Systems Limited) submitted unaudited financial results for the quarter and half year ended September 30, 2026 to BSE Limited and National Stock Exchange of India Limited. The disclosure was made pursuant to SEBI (LODR) Regulations, 2015 Regulations 34(2), 47(1) and 53, and SEBI Circular No.CIR/CFD/CMD/56/2016 dated May 27, 2016.

Board Meeting Details

  • Meeting Date: November 07, 2026
  • Meeting Time: 11:15 a.m. to 01:45 p.m.
  • Approval: Unaudited standalone and consolidated financial results for quarter ended September 30, 2026
  • Review: Audit Committee reviewed results on same date

Standalone Financial Results (₹ crores)

Income Statement

Quarter Ended September 30, 2026:

  • Income from operations: ₹862.94
  • Other Income: ₹14.76
  • Total Income: ₹877.70
  • Total Expenses: ₹654.51
  • Profit before exceptional items: ₹223.19
  • Exceptional items (Income): ₹13.16
  • Profit before tax: ₹236.35
  • Tax expense: ₹57.89 (Current tax: ₹52.98, Deferred tax: ₹4.91)
  • Net profit: ₹178.46
  • Basic EPS: ₹6.44

Half Year Ended September 30, 2026:

  • Income from operations: ₹1,482.48
  • Other Income: ₹35.05
  • Total Income: ₹1,517.53
  • Total Expenses: ₹1,152.02
  • Profit before exceptional items: ₹365.51
  • Exceptional items (Income): ₹13.30
  • Profit before tax: ₹378.81
  • Tax expense: ₹94.88 (Current tax: ₹89.94, Deferred tax: ₹5.18, Prior year: -₹0.24)
  • Net profit: ₹283.93
  • Basic EPS: ₹10.25

Exceptional Items

Exceptional items include compensation of ₹13.66 crore received from Government of Telangana towards compulsory acquisition of a portion of land owned by the Company.

Balance Sheet (as of September 30, 2026)

  • Total Assets: ₹3,396.17
  • Non-Current Assets: ₹978.75 (Property, Plant & Equipment: ₹431.35, Capital WIP: ₹154.44, Investments: ₹262.12)
  • Current Assets: ₹2,417.42 (Inventories: ₹893.77, Trade Receivables: ₹655.83, Cash & cash equivalents: ₹224.62)
  • Shareholders' Funds: ₹2,428.77 (Equity capital: ₹27.72, Other equity: ₹2,401.05)
  • Non-Current Liabilities: ₹147.10
  • Current Liabilities: ₹820.30

Cash Flow Statement (Half Year)

  • Cash from operating activities: -₹31.80
  • Cash from investing activities: -₹241.87
  • Cash from financing activities: -₹16.83
  • Net decrease in cash: ₹-290.50
  • Cash at beginning: ₹515.12
  • Cash at end: ₹224.62

Segment-wise Performance (Standalone)

Quarter Ended September 30, 2026:

  • Industrial Batteries: Revenue ₹411.62 crore, Profit ₹87.61 crore
  • Defence & Aviation Batteries: Revenue ₹82.47 crore, Profit ₹22.14 crore
  • Electronics: Revenue ₹363.23 crore, Profit ₹145.67 crore
  • Unallocated: Loss ₹23.07 crore

Half Year Ended September 30, 2026:

  • Industrial Batteries: Revenue ₹756.23 crore, Profit ₹163.54 crore
  • Defence & Aviation Batteries: Revenue ₹120.40 crore, Profit ₹31.24 crore
  • Electronics: Revenue ₹590.54 crore, Profit ₹216.40 crore
  • Unallocated: Loss ₹40.89 crore

Consolidated Financial Results (₹ crores)

Income Statement

Quarter Ended September 30, 2026:

  • Income from operations: ₹871.56
  • Other Income: ₹22.11
  • Total Income: ₹893.67
  • Total Expenses: ₹661.27
  • Profit before exceptional items: ₹232.40
  • Exceptional items: ₹13.16
  • Profit before tax: ₹245.56
  • Tax expense: ₹59.85 (Current tax: ₹55.42, Deferred tax: ₹4.63)
  • Net profit: ₹185.51
  • Share of associates/JV profit: ₹7.24
  • Total net profit: ₹192.75
  • Basic EPS: ₹6.95

Half Year Ended September 30, 2026:

  • Income from operations: ₹1,509.59
  • Other Income: ₹42.67
  • Total Income: ₹1,552.26
  • Total Expenses: ₹1,170.40
  • Profit before exceptional items: ₹381.86
  • Exceptional items: ₹13.15
  • Profit before tax: ₹395.01
  • Tax expense: ₹98.59 (Current tax: ₹93.80, Deferred tax: ₹5.03, Prior year: -₹0.24)
  • Net profit: ₹296.42
  • Share of associates/JV profit: ₹5.47
  • Total net profit: ₹301.89
  • Basic EPS: ₹10.89

Entities Included in Consolidation

Subsidiaries:

1. HBL America Inc.

2. HBL Germany GmbH

3. TTL Electric Fuel Private Limited

Associates and Joint Venture:

1. Naval Systems & Technologies Private Limited (Associate)

2. Tonbo Imaging India Limited (Associate)

3. Xalten Systems Private Limited (Associate)

4. Green Maritime Propulsion Private Limited (Joint Venture)

Exclusions from Consolidation

  • SCIL Infracon Private Limited (dormant since 2019)
  • HBL Tonbo Private Limited (striking off application with MCA)
  • Torquedrive Technologies Private Limited (striking off application under CCFS-2026)

Key Notes and Disclosures

1. The equity shares of Tonbo Imaging India Limited were listed on main board of both exchanges effective October 23, 2026. The investment impact will be reflected from next quarter's results.

2. EPS is calculated based on total comprehensive income attributable to equity shareholders.

3. Figures of previous quarters/periods have been regrouped where necessary.

4. The results are available on company website (http://hbl.in/investors), BSE (www.bseindia.com) and NSE (www.nseindia.com).

5. The consolidated results include the Group's share of net profit after tax of ₹7.27 crore for the quarter and ₹5.50 crore for the half year in respect of three associates whose interim financial information was reviewed by other auditors.

Financial Impact Assessment

The disclosure provides complete financial results with quantified impacts. The exceptional income of ₹13.66 crore from land acquisition has been clearly disclosed. The results show significant YoY growth in profitability across both standalone and consolidated entities.