Largest Single BESS Order Awarded in India: This Small-Cap Multibagger Stock Jumps Over 5% After Securing Order from NTPC; FIIs Increase Stake

SPML Infra Limited has secured a Rs 1,128 crore contract from NTPC Limited to develop a 1 GWh Battery Energy Storage System (BESS) at NTPC’s Barauni Thermal Power Station in Bihar, marking its first large-scale grid battery energy storage project.

Awarded by National Thermal Power Corporation (NTPC), the project is among the largest single BESS orders awarded in India and represents a significant step in SPML Infra’s expansion into energy storage infrastructure.

The scope includes the supply, civil works, and erection of a 250 MW/1,000 MWh Battery Energy Storage System comprising 5 MWh DC containers equipped with a Battery Management System (BMS) and Thermal Management System (TMS). The contract also covers 33 kV panel boards, 220 kV DC and AC cables, a 220 kV switchyard, and associated accessories. The project will be executed over 18 months, followed by 15 years of operation and maintenance.

The battery storage system will integrate with the existing thermal power infrastructure at Barauni to support peak load management, improve grid stability, and enable more efficient integration of renewable energy into the network. The company said battery energy storage systems are becoming critical to building a stable and responsive electricity grid as India’s power networks evolve.

The order strengthens SPML Infra’s position in India’s emerging battery energy storage ecosystem and advances its push into energy storage solutions in partnership with technology provider Energy Vault (NYSE: NRGV).

Abhinandan Sethi, Managing Director, SPML Infra Limited, said:

‘This order marks a defining moment for SPML Infra, a firm commitment to the large-scale battery energy storage sector. Energy storage will define how India powers its future, and we intend to be architects of that transformation. Partnering with NTPC on this landmark project is both a privilege and a responsibility we embrace fully. We are here to build the grid India needs, flexible, stable, and built for scale.’

About the Company
SPML Infra Limited, founded in 1981, is an integrated infrastructure development company with core expertise in water supply and transmission, wastewater and sanitation, power distribution and rural electrification, and urban infrastructure, with an emerging focus on energy storage systems. The company has executed more than 700 projects across over 20 Indian states and had two wholly owned subsidiaries as of March 31, 2025.

SPML Infra share price jumped over 5 per cent to Rs 224.85 at May 6, 2026 10:25 AM. The stock's 1-year, 2-year, and 3-year returns were 19.02 per cent, 72.07 per cent, and 522.24 per cent, respectively, with the 1-year return of 19.02 per cent outperforming the BSE 500's 1-year change of 3.23 per cent. This Small-Cap stock has delivered multibagger returns of over 500 per cent in the last 3-years. The 52-week high and low stood at Rs 307.30 and Rs 153.85, and the share carries a face value of Rs 2. Foreign institutional holding rose to 0.36 per cent from 0.15 per cent (change +0.21 percentage points), while domestic institutional holding fell to 15.11 per cent from 15.54 per cent (change -0.43 percentage points).

Disclaimer: The article is for informational purposes only and not investment advice.