Penny Stock Below Rs 100 Jumps 11% After Industrial Engineering Company Secures Rs 52 Crore Solar Sector Order from SAEL Industries

On Tuesday, Indian equity benchmarks ended lower, with the benchmark Nifty 50 index declining 50.80 points, or 0.21 per cent, to 24,187.70. Defying the weak broader market sentiment, Batliboi Ltd share price surged 11.18 per cent to Rs 90.82, gaining Rs 9.13, after the company announced that its Environmental Engineering Division (EEG Division) had secured a Rs 52 crore contract from SAEL Industries Limited for a Solar cell manufacturing project.

Batliboi Secures Rs 52 Crore Order

Batliboi informed the stock exchanges that its Environmental Engineering Division has secured a major contract from SAEL Industries Limited for the design, engineering, supply, installation and commissioning of pollution control equipment for SAEL's upcoming 6 GW Solar Cell Manufacturing Facility at Jewar, Uttar Pradesh.

The contract, valued at Rs 52 crore, marks a significant milestone for the company's expansion into the solar manufacturing sector. Under the agreement, Batliboi will execute a turnkey PEX System for the facility, with the project expected to be commissioned within six to eight months. The company also noted that it has previously executed a similar PEX system for Adani Mundra Solar Limited.

Strategic Expansion into Solar Manufacturing

The order represents an important step in Batliboi's strategy to expand its Environmental Engineering business into India's rapidly growing renewable energy ecosystem. The company stated that the contract aligns with the Government of India's initiative to promote indigenous manufacturing across the solar value chain and further strengthens its capabilities in providing advanced environmental engineering solutions.
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Management Commentary

Commenting on the order win, Sanjiv Joshi, Managing Director, Batliboi Limited, said: "I am delighted to inform you that Batliboi Limited's EEG Division has secured a landmark ₹52 crore contract from SAEL Industries Limited to design, supply, install and commission a turnkey PEX system for a 6 GW solar cell manufacturing facility at Jewar, Uttar Pradesh. This order not only demonstrates our technical capabilities and execution strength in environmental engineering, but also represents a significant step in our strategic expansion into the solar manufacturing supply chain—an area aligned with India's priority for indigenous clean-energy production. We expect the project to be commissioned within 6–8 months, and remain confident it will contribute positively to the Division's growth trajectory and long-term shareholder value."

About Batliboi 

Batliboi Ltd is a diversified engineering company with business interests spanning Machine Tools, Air Engineering, Textile Machinery and Environmental Engineering. The company also has an international presence in machine tools through its earlier acquisition of QuickMill, Canada. It continues to focus on growth through strategic expansion, operational excellence and long-term value creation.

About SAEL Industries

SAEL Industries Limited is a leading Indian renewable energy company engaged in solar power generation, waste-to-energy projects, and the manufacturing of solar modules and solar cells. The company is expanding its manufacturing footprint to support India's clean energy transition.

   Disclaimer: The article is for informational purposes only and should not be construed as investment advice.