When the media and markets talk about India’s infrastructure sector, the usual names that dominate the headlines are the big ones, like L&T, PowerGrid, Rail Vikas Nigam Limited and other big EPC contractors. But the nation isn’t being “built” exclusively by these largecaps – there are a host of smaller companies that are aiding India’s growth. From firms specialising in railway safety technology to power transmission towers and cabling, here’s a look at three niche infra companies helping scale our essential infrastructure.
HBL Engineering: Railway safety experts
The Indian Railways are the heartbeat of India’s logistics and transport ecosystem, whether it’s connecting passengers or ferrying goods in freight containers. Over the last few years, rail safety has been given an impetus, with the development and deployment of Kavach, India’s indigenous ATP (Automatic Train Protection System). Kavach is a cornerstone of the railways’ safety modernisation drive, monitoring train movement and stepping in automatically to avert accidents and unsafe situations, including the prevention of SPAD (signal passed at danger, where a train runs past a red signal) and collisions, speed supervision, monitoring brake curves, etc.
- USP: HBL Engineering Ltd (formerly HBL Power Systems) is an engineering and technology company that designs and manufactures specialised batteries and mission-critical electronic systems, supplying to sectors like railways, telecom, aviation, power, defence, etc. Over time, HBL has expanded beyond batteries into railway electronics and safety systems, including train protection and signalling solutions, aligning with India’s push for homegrown safety upgrades. HBL has emerged as a pillar of this initiative not just as a contractor, but as one of the few domestic suppliers approved to deliver advanced Kavach systems. In 2025 the company received RDSO approval for Kavach Version 4.0, making it the first to secure this certification and enabling deliveries against a multi-thousand-crore order book.
- Recent wins: The company has won multiple Kavach-related contracts in the recent past, which point to their ability to scale and execute with efficiency. In June 2025, HBL won a ₹134 crore contract from South Central Railway to install Kavach on a 446-km stretch spanning 48 stations and ten locomotives. In May 2025, it was reported that the company won a separate ₹100 crore order from IRCON covering nearly 778 km and multiple stations in South Western Railway. Other Kavach contracts include a ₹146 crore Western Railway project and orders from Central Railway covering thousands of kilometres.
- Why it matters: Railway safety upgrades may not have the same kind of visibility as expressways and massive bridges, but they are critical to logistics and transport and fundamental to safe travel. HBL’s positioning and contracts gives the company early advantage and direct exposure to a transformational push happening within the rail sector.
KEC International: Powering the power grid
While HBL operates in a niche field, KEC is a smallcap infrastructure executor that is helping hold up India’s power grid, quite literally.
- USP: KEC is an Engineering, Procurement & Construction (EPC) company focused on Transmission & Distribution (T&D), civil works, and related infrastructure. While it has a global footprint on over 110 countries, its core business remains deeply tied to the power sector’s evolution. The company has one of the largest transmission tower manufacturing capacities in the world and integrated supply chain capabilities.
- Recent wins: In 2025 the company bagged a significant bouquet of orders worth around ₹1,267 crore across T&D and cables segments, including 800 kV HVDC and 765 kV transmission lines awarded by Power Grid Corporation of India and supply of towers and related hardware domestically and internationally. In December 2025, it was reported that KEC’s India T&D business (transmission and distribution) won its biggest ever domestic power transmission order. The project, from a reputed private entity, involves building very high-voltage power lines (765 kV) and a large substation (765/400 kV) that helps move electricity from where it is generated to where it is needed.
- Why it matters: Power transmission lines and towers are not optional add-ons — they are essential for moving electricity from renewable energy projects to cities, factories and rural areas. KEC stands at a unique position of grid build-out and reinforcement and transmission, which is essential for energy transition, renewables integration and rural/urban electrification in the long term.
RR Kabel: Material supplier specialists
It is important to note that infrastructure cannot function or scale without the right materials, which is where smallcap RR Kabel comes in.
- USP: RR Kabel is an Indian electrical products company that manufactures and sells wires, cables and consumer electrical products used in homes, offices, industries and infrastructure projects. Its core business is electrical wires and cables (like house wiring, power cables and specialised industrial cables) designed with a strong focus on safety, quality and durability.
- Recent wins: The company reported record half‑yearly revenue and profit in FY26, with significant year‑on‑year growth in both sales and margins, driven by strong demand for wires and cables. It also announced a significant Rs 1,050 crore expansion at its Waghodia plant and additional capacity at Silvassa and other locations under its “Project R Rise” strategic growth plan, aimed at increasing production and export potential.
- Why it matters: R R Kabel supplies the wires and cables that literally connect India’s infrastructure — from power grids to roads, metro systems, industrial projects, and real estate. Its growth in revenue and expansion plans may be a clear indicator that infrastructure projects are moving from planning to execution, and companies like RR Kabel are poised to grow further in the future.
India’s infrastructure story is evolving. From an era of big-ticket headline EPC contractors, the segment is now making room for smaller players with niche products, services and capabilities that can execute efficiently. These companies are the “little engines;” specialised companies delivering safety systems, grid hardware, and the materials that everyone uses, but may not know about.
Sources
Kavach system to enhance safety, efficiency on EDFC | Prayagraj News – The Times of India
IRCON awards LoA to HBL engineering for KAVACH provision
KEC International wins New Orders of Rs. 1,267 crore
KEC International bags ₹1,150 crore orders, clinches largest India T&D contract – CNBC TV18
RR Kabel plans capacity expansion in Gujarat, upcoming units in Silvassa