Its net profit declined 24% year-on-year to ₹109 crore from ₹143 crore, however, revenue from operations increased 6% to ₹638 crore from ₹602 crore in the year-ago period.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) declined 23.5% year-on-year to ₹147 crore from ₹192 crore. The EBITDA margin stood at 23%, compared with 31.9% a year earlier.
Joint venture with Cochin Shipyard
HBL Engineering and Cochin Shipyard Limited incorporated a joint venture, Green Maritime Propulsion Private Limited, on June 11, 2026.
HBL Engineering holds a 60% stake in the joint venture. However, in the exchange filing the company said the subscription had not been made during the reporting period and, therefore, the joint venture was not considered for consolidation.
Earlier, on August 3, the firm had informed that it has secured a domestic order from Integral Coach Factory (ICF), Chennai, for the supply and commissioning of onboard Kavach equipment.
The order is valued at ₹31.49 crore, excluding 18% GST, and covers the supply, installation, testing and commissioning of onboard Kavach locomotive equipment, Version 4.0.
HBL Engineering said the contract is to be completed on or before March 31, 2028.
The company said none of its promoters has any interest in the entity awarding the order. It also clarified that the transaction does not fall under the related-party transaction category.
HBL Engineering shares closed 2.17% lower at ₹720.20 on the NSE on August 7, ahead of the company’s June quarter announcement on Saturday (August 8).
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