HEG Advanced Materials Subsidiary Partners with Indus Towers for 1.5 GWh BESS Capacity

Key numbers

BESS Capacity	1.5 GWh2-Year Target
Market Cap	₹4,597.69 CrGeneral Industrials
Revenue TTM	₹2,639.55 CrOperating Income
P/E TTM	12.81Sector PE 55.38
Order from	Indus Towers Limited
Execution period	2 years

Key highlights

• MoU signed between Replus Engitech and Indus Towers for BESS telecom solutions
• Commitment to provide 1.5 GWh dedicated production capacity over a 2-year period
• Research focus includes high-capacity battery systems and sodium-ion technology
• Partnership targets critical telecom infrastructure to improve energy efficiency
• HEG Advanced Materials leverages 50 years of graphitization expertise for battery materials

The Partnership Details

Replus Engitech, a subsidiary of HEG Advanced Materials, has formalised a collaboration with Indus Towers to provide Battery Energy Storage System (BESS) solutions for India’s telecom sector. Under the two-year agreement, Replus will allocate 1.5 GWh of dedicated production capacity to meet the evolving energy requirements of telecom infrastructure. The collaboration is designed to explore next-generation technologies, specifically focusing on sodium-ion batteries and higher-capacity systems.

This initiative aims to improve reliability and lifecycle performance across nationwide telecom applications while promoting indigenous manufacturing capabilities for critical infrastructure.

Partner Profile: Indus Towers

Indus Towers operates as one of the largest telecom tower companies globally, maintaining an extensive network of infrastructure across all 22 telecom circles in India. As a critical partner for major telecommunication service providers, the company’s exploration of BESS solutions represents a significant shift toward modern energy management. By integrating Replus’s storage solutions, Indus Towers aims to enhance the energy efficiency of its tower sites, reducing dependence on traditional power sources and supporting the transition to more resilient, future-ready infrastructure.

Strategic Significance

• Establishes a dedicated 1.5 GWh manufacturing pipeline for the telecom sector
• Diversifies technology focus into emerging sodium-ion battery applications
• Strengthens the domestic energy storage ecosystem through indigenous engineering
• Supports India's clean energy transition in critical network infrastructure
• Leverages HEG’s 50-year legacy in carbon and graphitization technology

Business and Financial Context

HEG Advanced Materials is transitioning from its core graphite electrode business into the advanced battery materials value chain, including anode materials and silicon-based anodes. Financially, the company holds a market capitalisation of 4,597.69 crore with a TTM revenue of 2,639.55 crore. While the stock has faced a 52.98 percent decline over the past year, its P/E ratio of 12.81 remains considerably lower than the industry average of 50.03.

Current technical indicators place the stock in an oversold zone, reflected by a Relative Strength Index (RSI) of 22.75.

Management Perspective

This initiative reflects the opportunity we see in building a strong, made-in-India energy storage ecosystem for critical infrastructure. Through Replus, we are building the manufacturing scale, technology capabilities and innovation platform required to address these evolving requirements and contribute meaningfully to India’s energy transition.

“For us, this initiative goes beyond supplying batteries. It is about building the manufacturing scale and technology capabilities required to address the evolving energy needs of telecom infrastructure.”

HEG Advanced Materials · financial snapshot

Share price	₹238.25
Market capitalisation	₹4,597.69 Cr
Revenue (annual)	₹2,568.50 Cr
Net profit (annual)	₹341.37
P/E (TTM)	12.81×Sector 55.38×
Promoter holding	60.72%+4.44% QoQ
FII holding	5.29%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.