HLE Glascoat hits the roof on $42-48 million overseas order

HLE Glascoat hit the 5% upper circuit at Rs 442.35 after its subsidiary, Kinam Engineering Industries, secured an international order worth $42-48 million.

The order is from a leading international company operating in the long-duration energy storage sector. It covers the design, engineering, manufacturing, testing and supply of specialised shell-and-tube heat exchangers and associated process equipment.

The equipment will be supplied for a large-scale energy storage project in North America. The order is expected to be executed progressively through November 2028, subject to contractual commencement provisions.

HLE Glascoat said the customer's identity was withheld due to commercial confidentiality and competitive sensitivity. The company also clarified that the order does not involve any related-party transaction.

Kinam Engineering Industries is a subsidiary of HLE Glascoat. The order marks its participation in an international energy storage project.

HLE Glascoat is engaged in the specialized business of manufacturing chemical process equipment. The company?s key product segment has been filtration and drying equipment.

On a consolidated basis, HLE Glascoat's net profit rose 19.35% to Rs 14.31 crore while net sales declined 1.18% to Rs 346.65 crore in Q2 September 2026 over Q2 September 2025.

Powered by Capital Market - Live News