HEG Advanced Materials' subsidiary Replus Engitech has received orders worth ₹127.35 crore from Indus Towers for the supply of lithium-ion battery banks, as confirmed in a regulatory filing on Thursday, October 1. According to CNBC TV18, the orders were placed by a domestic entity and are scheduled to be executed by May 31, 2027, or a later date mutually agreed by the two parties. The filing does not disclose the number of battery banks to be supplied or provide details of the individual purchase orders, but represents a significant addition to the ongoing collaboration between the two companies.
HEG Advanced Materials subsidiary Replus Engitech Private Limited has signed a Memorandum of Understanding with Indus Towers Limited to collaborate on Battery Energy Storage System (BESS) solutions for telecom infrastructure in India. According to reports from Business Standard, the partnership brings together Replus Engitech, an integrated energy storage and clean energy company, with Indus Towers, one of India's leading telecom infrastructure companies with nationwide presence across all 22 telecom circles. The collaboration includes major telecom operators as customers, including Bharti Airtel, Reliance Jio Infocomm, and Vodafone Idea Limited.
Under the MoU, Replus intends to make available dedicated BESS production capacity of 1.5 GWh over a two-year period to support the evolving energy requirements of telecom infrastructure. As reported by Business Standard, this commitment represents a significant expansion of Replus's telecom energy storage portfolio, which the company plans to include higher-capacity battery systems and technologies such as sodium-ion batteries aimed at improving reliability, energy efficiency and lifecycle performance across telecom applications. The initiative aims to support the critical power requirements of telecom infrastructure while strengthening domestic manufacturing capabilities.
Separately, Replus received a ₹217.56 crore order from Indus Towers earlier this month for the supply of lithium-ion battery banks, with the entire order scheduled to be completed on or before March 31, 2027. According to CNBC TV18, this order came immediately after the demerger scheme became effective on September 1, 2026, demonstrating Replus's swift transition from corporate restructuring to securing large-scale clean energy storage commitments. In the first quarter of FY26, HEG Advanced Materials reported revenue of ₹680 crore, up 12.86% quarter-on-quarter and 10.35% year-on-year, with net profit standing at ₹91 crore, up 3.79% year-on-year. Meanwhile, Indus Towers reported a 0.5% year-on-year increase in consolidated net profit to ₹1,746 crore for the quarter ended June 30, 2026, with revenue rising 4.6% to ₹8,431 crore.
Shares of Indus Towers were trading at ₹374.85, up 0.44%, while HEG Advanced Materials shares were at ₹236.69, down 0.40% following the latest developments. According to CNBC TV18, the market response indicates continued investor confidence in the collaboration's potential to strengthen both companies' positions in India's growing telecom infrastructure sector. The recent order confirmations and strategic partnership expansion demonstrate the practical execution of the initial MoU signed between the two companies.
