
HBL Engineering Ltd
The Emerging Companies 2026
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OVERVIEW
FINANCIALS
NEWS
About
HBL Power Systems Ltd. specializes in the development and manufacturing of advanced batteries and power electronics. The company's product portfolio includes industrial batteries, aerospace batteries, and railway electronics, catering to diverse sectors such as defense, aviation, and telecommunications. HBL's commitment to innovation and quality has established it as a key player in the specialized batteries market.
Incorporation Year: 1986
Headquarters: Hyderabad, Telangana, India
Top Management: Ashok Rao T (Chairman)
Industry: Electronics
Website: hbl.in
Featured In Fortune India Ranking
Fortune 500 India
#471(2013)
#454(2010)
#471(2013)#454(2010)
The Emerging Companies
#7(2026)
#7(2026)
Next 500 India
#441(2024)#300(2023)#303(2022)#209(2021)#201(2020)#85(2019)#110(2018)#144(2017)#119(2016)#93(2015)
#441(2024)#300(2023)#303(2022)#209(2021)#201(2020)#85(2019)#110(2018)#144(2017)#119(2016)#93(2015)
Financial Data 2024
Revenue
2,328
(INR Cr)
Net Operating Income
2,233
(INR Cr)
Assets
1,290
(INR Cr)
Profit
281
(INR Cr)
Net Worth
1,221
(INR Cr)
Fortune India Coverage
Financial Data
RevenueNet Operating IncomeProfitAssetsNet Worth
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 2328 67.3% | 1392 8.9% | 1279 39.4% | 917 -17.4% | 1111 -13.2% | 1280 -19.8% | 1596 10.1% | 1449 11.3% | 1303 -0.4% | 1307 -7.6% | 1415 -21.5% | 1802 13.5% | 1588 26.3% | 1258 8.3% | 1161 -8.8% | 1273 - |
| Net Operating Income (INR Cr) | 2233 63.18% | 1369 10.72% | 1236 35.54% | 912 -16.46% | 1092 -13.75% | 1266 -21.03% | 1603 13.33% | 1414 8.93% | 1299 -3.83% | 1350 3.27% | 1307 -23.55% | 1710 9.33% | 1564 29.79% | 1205 5.96% | 1138 -10.48% | 1271 27.08% |
| Profit (INR Cr) | 281 184.7% | 99 5.1% | 94 583.9% | 14 -47.6% | 26 -5.5% | 28 -12.3% | 32 -18.2% | 39 159.5% | 15 4.8% | 14 -64.1% | 40 69.1% | 23 26.4% | 19 10.0% | 17 -83.1% | 100 9.6% | 91 - |
| Assets (INR Cr) | 1290 24.1% | 1040 11.8% | 930 8.9% | 854 -8.7% | 936 -6.5% | 1001 -10.6% | 1119 -7.5% | 1210 4.3% | 1161 -7.4% | 1253 -3.4% | 1297 -22.5% | 1673 9.5% | 1527 12.8% | 1353 44.3% | 938 24.4% | 754 - |
| Net Worth (INR Cr) | 1221 28.3% | 951 9.9% | 866 10.7% | 782 1.2% | 773 0.9% | 766 1.9% | 752 3.1% | 729 19.7% | 609 7.9% | 565 0.5% | 562 -19.0% | 694 31.8% | 527 -7.2% | 567 11.6% | 509 32.4% | 384 27.3% |
| Employee Cost (INR Cr) | 139 30.0% | 107 10.6% | 96 18.3% | 81 -9.1% | 90 3.7% | 86 -10.0% | 96 -2.1% | 98 -3.3% | 101 4.3% | 97 -27.7% | 134 -18.7% | 165 12.4% | 147 14.1% | 129 37.2% | 94 37.1% | 69 - |
| Interest Cost (INR Cr) | 13 | 7 | 7 | 15 | 22 | 31 | 41 | 46 | 68 | 71 | 76 | 126 | 117 | 59 | 39 | 39 |
| Cash & Bank Balance (INR Cr) | 235 | 146 | 105 | 68 | 75 | 33 | 20 | 26 | 34 | 48 | 52 | 40 | 70 | 112 | 65 | 87 |
| Total Debt (INR Cr) | 67 | 86 | 63 | 70 | 161 | 232 | 366 | 479 | 549 | 686 | 734 | 879 | 916 | 692 | 429 | 370 |
Key Financial Ratios
Profit As % Of RevenuesRONW %Interest Cost to EBITDA %ROCE %Debt to Equity Ratio
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | 12.1% | 7.1% | 7.3% | 1.5% | 2.4% | 2.2% | 2.0% | 2.7% | 1.1% | 1.1% | 2.8% | 1.3% | 1.2% | 1.3% | 8.6% | 7.1% |
| Profit As % Of Assets | 21.8% | 9.5% | 10.1% | 1.6% | 2.8% | 2.8% | 2.8% | 3.2% | 1.3% | 1.1% | 3.1% | 1.4% | 1.2% | 1.3% | 10.6% | 12.0% |
| Profit As % Of Networth | 23.0% | 10.4% | 10.9% | 1.8% | 3.4% | 3.6% | 4.2% | 5.3% | 2.5% | 2.5% | 7.1% | 3.4% | 3.5% | 3.0% | 19.6% | 23.6% |
| Interest Cost to EBITDA % | 3.3% | 4.4% | 5.8% | 24.3% | 29.7% | 31.5% | 35.7% | 36.6% | 51.7% | 56.8% | 85.4% | 55.3% | 55.9% | 70.1% | 19.0% | 19.6% |
| Debt to Equity Ratio | 0.06 | 0.09 | 0.07 | 0.09 | 0.21 | 0.30 | 0.49 | 0.66 | 0.90 | 1.22 | 1.31 | 1.27 | 1.74 | 1.22 | 0.84 | 0.96 |
| RONW | 25.8% | 10.8% | 11.4% | 2.2% | 3.0% | 3.1% | 5.0% | 5.7% | 2.5% | 4.7% | -2.5% | 4.8% | 5.6% | 2.0% | 22.3% | 26.5% |
| ROCE | 33.5% | 13.8% | 14.6% | 4.4% | 5.9% | 6.3% | 9.1% | 8.5% | 7.9% | 8.4% | 4.6% | 11.3% | 12.2% | 5.3% | 21.5% | 25.0% |



