1,374% wealth creation! How a NSE, BSE-listed firm made promoters richer in 5 years

Jagadish Prasad Aluru & family have emerged as one of the biggest percentage gainers in India over the past five years, their wealth climbing a staggering 1,374 per cent to Rs 14,740 crore, according to the M3M Hurun India Rich List 2025. 

The meteoric rise is tied to the runaway performance of HBL Engineering Ltd — a stock listed on both NSE and BSE that has turned early investors into multibaggers.

HBL Engineering’s share price has rocketed from just Rs 16.30 to Rs 830.05 on the BSE over the five-year period, from October 2, 2020, to October 2, 2025, a return of about 4,992 per cent. The company now commands a market capitalisation of Rs 23,094.50 crore, highlighting how the sharp rerating of the engineering and battery maker has delivered massive wealth creation for its promoters.

Jagadish Prasad Aluru holds 26,92,827 shares (0.97 per cent stake), Uma Devi Aluru owns 9,50,397 shares (0.34 per cent) and Kavita Prasad Aluru holds 97,88,386 shares (3.53 per cent). 

The company was renamed from HBL Power Systems Limited to HBL Engineering Limited on November 13, 2024. It supplies a range of batteries (lead acid, Ni-Cad, silver zinc and lithium) and offers railway and defence electronics alongside related engineering services. HBL says its clients include system integrators, EPC firms and customers in the railway, aviation and defence sectors globally.

HBL’s stock closed 2.42 per cent higher at Rs 833.15 on Wednesday, 106 per cent above its 52-week low of Rs 404.30. The counter, part of the BSE 500 index, trades at a price-to-earnings multiple of 67.91.