HBL Engineering slumps 15% after posting weak Q3 results; PAT down 26%

HBL Engineering shares plunged 14.7 per cent on Tuesday, logging an intraday low at Rs 450.1 per share on BSE. The southward movement in the stock came after the company reported weak Q3 numbers. 

 

Around 11:32 AM, HBL Engineering share price was down 13.2 per cent at Rs 458 per share on BSE. In comparison, the BSE Sensex was down 0.42 per cent at 76,984.82. The market capitalisation of the company stood at Rs 12,695.53 crore. The 52-week high of the stock was at Rs 738.65 per share and the 52-week low was at Rs 378.95 per share. 

 

On Monday, after market hours, HBL Engineering reported a decline of 26 per cent in consolidated net profit year-on-year (Y-o-Y) to Rs 58.38 crore as compared to Rs 78.45 crore. Its revenue for the quarter under review slipped 24.8 to Rs 450.5 crore as compared to Rs 599.25 crore a year ago.

 

 

In Q2, HBL Engineering reported a revenue of Rs 533.38 crore, compared to Rs 525.59 crore in the first quarter of 2024, reflecting a growth of 1.48 per cent. The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) for September 2024 stood at Rs 120.97 crore, up from Rs 115.9 crore in June 2024, marking a growth of 4.37 per cent. Net profit for the company in September 2024 was Rs 76.01 crore, slightly up from Rs 75.85 crore in June 2024, showing a modest growth of 0.21 per cent.

 

HBL Engineering specialises in designing, manufacturing, and supplying a wide range of power solutions. Founded in 1977, the company has earned recognition in various industries, including telecommunications, defense, energy, railways, and renewable energy. HBL is particularly known for its expertise in providing backup power solutions, such as batteries, inverters, and energy storage systems. The company’s products are widely used in mission-critical applications where reliable power is essential.

 

HBL’s diverse product portfolio includes lead-acid batteries, lithium-ion batteries, power electronics, solar solutions, and customized battery solutions for various sectors like defense, industrial, and telecom. In the defense sector, HBL manufactures advanced battery systems for submarines, aircraft, and tactical communication systems. The company also provides energy storage solutions for grid applications, addressing the growing need for renewable energy integration.

 

In the past one year, HBL Engineering shares have lost 1.4 per cent against Sensex's rise of 8.7 per cent.