HBL Engineering Limited has executed a joint venture agreement with Cochin Shipyard Limited on March 25, 2026, marking a significant step toward developing indigenous electric mobility technology and energy storage solutions for the maritime sector. The partnership aims to capitalize on the growing adoption of sustainable maritime technologies both in India and globally.

Joint Venture Structure and Capital

The joint venture company will be incorporated under the name 'Green Maritime Propulsion Private Limited' with its registered office in Hyderabad, India. The financial structure and shareholding pattern demonstrate a strategic partnership between the two companies.

Business Scope and Operations

The joint venture will focus on developing electric mobility technology and energy storage solutions specifically for the maritime space. The scope encompasses both domestic and international markets, positioning the company to serve the growing demand for sustainable maritime propulsion systems.

The JV company will be managed by a Board of Directors consisting of five directors. HBL will be entitled to nominate three directors, including the Managing Director, while CSL will nominate two directors, including the Chairman. HBL may also nominate a Chief Executive Officer in lieu of a Managing Director for day-to-day operations.

Strategic Rationale

The collaboration is designed to leverage the complementary core strengths of both Cochin Shipyard Limited and HBL Engineering Limited. Key strategic benefits include:

• Development of indigenous capabilities for the maritime sector
• Alignment with the Government of India's Aatmanirbhar Bharat vision
• Capitalization on opportunities from growing adoption of electric and hybrid propulsion systems
• Positioning to serve emerging trends in sustainable maritime technologies

Regulatory Compliance

The joint venture agreement was executed following the Board of Directors' approval dated February 07, 2026. The disclosure has been made in compliance with Regulation 30 of the SEBI LODR Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The transaction does not fall within related party transactions, and no promoter, promoter group, or group companies have any interest in the entity being acquired. This partnership represents a strategic move to establish a strong presence in the sustainable maritime technology sector.

HBL Engineering Limited has completed its scheduled investor meeting with SBI Mutual Fund and filed the mandatory post-meeting disclosure with stock exchanges. The meeting was conducted on March 18, 2026, as a one-to-one physical session in Mumbai, adhering to regulatory compliance requirements.

Meeting Completion and Regulatory Filing

The company filed its after-meeting intimation on March 18, 2026, with both BSE Limited and National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirms the successful completion of the investor engagement session.

Information Sharing and Compliance

In its regulatory filing, HBL Engineering Limited confirmed strict adherence to information sharing guidelines during the meeting. The company explicitly stated that only publicly available information was shared with SBI Mutual Fund representatives. No unpublished price sensitive information (UPSI) was discussed or disclosed during the interaction.

This compliance approach ensures adherence to insider trading regulations and maintains market integrity while facilitating legitimate institutional investor engagement.

Corporate Governance and Transparency

The post-meeting disclosure demonstrates the company's commitment to transparent corporate governance practices. The filing was signed by GBS Naidu, Company Secretary of HBL Engineering Limited, formerly known as HBL Power Systems Limited, ensuring proper authorization and accountability.

The company addressed the filing to both major stock exchanges where its shares are listed, maintaining comprehensive regulatory compliance across all trading platforms.

Company Information

HBL Engineering Limited operates under the corporate identity number L40109TG1986PLC006745 and maintains its registered office at D.No. 8-2-616, Plot No. 4, Behind Minerva Grand Hotel, Road No. 11, Banjara Hills, Hyderabad. The company can be contacted at +91-40-66167777 for investor relations and corporate communications.