The order includes the supply of lithium-ion batteries, cabinets, and other related components. However, the name of the entity awarding the contract was not disclosed due to competitive sensitivities.
In its announcement, the company clarified that neither the promoter group nor its affiliated companies have any interest in the Singapore-based entity. Furthermore, the order does not constitute a related-party transaction.
CLN Energy specializes in the manufacturing of customized lithium-ion batteries, motors, and powertrain components for electric vehicles, including controllers, throttles, DC-DC converters, displays, and differentials. The company provides B2B solutions for a variety of applications, including electric two, three-, and four-wheelers, with a focus on traction applications, as well as stationary solutions for solar, energy storage systems (ESS), and telecommunications.
On a full-year basis, the company’s net profit surged 55.64% to Rs 9.79 crore on 3.01% increase in revenue from operations to Rs 132.71 crore in FY25 over FY24.
CLN Energy listed on the bourses on 30 January 2025. The scrip was listed at Rs 256, exhibiting a premium of 2.4% to the issue price.