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Bearish
6
Neutral
4
Bullish
4
Bearish
6
Neutral
4
Bullish
36
Bearish
0
Neutral
0
Bullish
32
Discovery themes featuring this stock
Azad Engineering Limited manufactures highly engineered, mission‑critical forged and precision‑machined rotating and stationary components for aerospace & defence, energy and oil & gas OEMs, supplying complex airfoils, compressor and turbine parts with stringent quality and certification requirements and deriving ~92% of revenue from exports to 12+ countries.
The company delivered its highest ever quarterly and nine‑month results for Q3/9MFY26 with standalone revenue of Rs.4,329.8mn for 9MFY26 (↑31.8% YoY) and EBITDA margin expanding to ~36.9%; 9MF PAT surged 55.3% to Rs.970.3mn, signalling strong operating leverage despite heavy ongoing capex and stabilization costs.
Azad’s growth is driven by a deep orderbook (>INR6,500 crore) and multiple large contracts with tier‑one OEMs (GE Vernova, Mitsubishi, Siemens, Rolls‑Royce, Pratt & Whitney and Honeywell), reflecting both wallet‑share gains and successful qualification transitions into new engine platforms and energy programs.
The company is mid‑way through a material capacity creation program: three lean facilities were inaugurated in 2025 and phased commissioning is underway; management expects stabilization through FY27 with maximum utilization beginning FY28, aligning capex deployment with secured long‑cycle customer programs.
Balance sheet and cash dynamics: Azad deployed QIP proceeds to fund aggressive capex, capitalised ~Rs.250 crore of plant & machinery in 9M, reported net debt of ~Rs.1,575mn as of Dec‑25, and continues to show large bank balances and elevated current assets reflecting construction, inventory and working capital build.
Electrical Equipment
Heavy Electrical Equipment
13,464 Cr
High Risk
82.2
55.8
2.2
9.1
1,899.00
1,243.50
Sales CAGR
Profit CAGR
ROE
ROCE
Discovery themes featuring this stock
| Symbol | Watchlist | Price | Market Cap | P/E | P/B | Div Yield (%) | ROE (%) | ROCE (%) | ROA (%) |
81.03 | 17,307 Cr | 28.32 | 2.65 | 0.00 | 7.51 | 10.87 | 5.35 | ||
1473.25 | 13,704 Cr | 88.91 | 17.53 | 0.00 | 15.75 | 18.30 | 8.91 | ||
1569.15 | 13,464 Cr | 82.15 | 9.10 | 0.00 | 7.55 | 10.11 | 6.22 | ||
471.85 | 11,492 Cr | 31.02 | 4.98 | 0.39 | 14.79 | 18.57 | 10.55 | ||
11049.80 | 10,901 Cr | 31.55 | 6.63 | 0.93 | 19.98 | 26.85 | 18.64 | ||
868.05 | 10,823 Cr | 62.18 | 23.04 | 0.07 | 17.40 | 29.68 | 16.93 | ||
309.55 | 9,701 Cr | 34.39 | 6.40 | 0.08 | 17.45 | 20.82 | 10.21 | ||
| Median: 7 Co. | — | 868.05 | 11,492 Cr | 34.39 | 6.63 | 0.07 | 15.75 | 18.57 | 10.21 |
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Azad Engineering Ltd (AZAD) is currently trading at 2,078.00 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
Azad Engineering Limited manufactures highly engineered, mission‑critical forged and precision‑machined rotating and stationary components for aerospace & defence, energy and oil & gas OEMs, supplying complex airfoils, compressor and turbine parts with stringent quality and certification requirements and deriving ~92% of revenue from exports to 12+ countries. The company delivered its highest ever quarterly and nine‑month results for Q3/9MFY26 with standalone revenue of Rs.4,329.8mn for 9MFY26 (↑31.8% YoY) and EBITDA margin expanding to ~36.9%; 9MF PAT surged 55.3% to Rs.970.3mn, signalling strong operating leverage despite heavy ongoing capex and stabilization costs. Azad’s growth is driven by a deep orderbook (>INR6,500 crore) and multiple large contracts with tier‑one OEMs (GE Vernova, Mitsubishi, Siemens, Rolls‑Royce, Pratt & Whitney and Honeywell), reflecting both wallet‑share gains and successful qualification transitions into new engine platforms and energy programs. The company is mid‑way through a material capacity creation program: three lean facilities were inaugurated in 2025 and phased commissioning is underway; management expects stabilization through FY27 with maximum utilization beginning FY28, aligning capex deployment with secured long‑cycle customer programs. Balance sheet and cash dynamics: Azad deployed QIP proceeds to fund aggressive capex, capitalised ~Rs.250 crore of plant & machinery in 9M, reported net debt of ~Rs.1,575mn as of Dec‑25, and continues to show large bank balances and elevated current assets reflecting construction, inventory and working capital build.
Over the past 52 weeks, Azad Engineering Ltd has traded between a low of ₹1,243.50 and a high of ₹1,899.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Azad Engineering Ltd has a market capitalization of approximately 13,464.32. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Azad Engineering Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 82.15 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 13,464.32 Cr, Azad Engineering Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Azad Engineering Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Azad Engineering Ltd is 82.15. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
The positive outlook is driven by a robust order book exceeding ₹65 billion, long-term contracts with global leaders like Rolls-Royce and Mitsubishi, strong financial growth, and bullish analyst ratings.
The total combined value of contracts with Mitsubishi Heavy Industries (MHI) is $156.36 million (approximately ₹1,387 crore), which includes the latest incremental agreement.
Supply agreement amendment
Azad Engineering signed Amendment No.3 (23 Apr 2026) to its Strategic Supply Agreement with Nuovo Pignone S.r.l. (Baker Hughes) to meet increased demand for turbomachinery components; term runs to Dec 2030; value confidential.
Supply Agreement Amendment
Azad Engineering signed Amendment No.3 on Apr 23, 2026 to its Mar 6, 2024 strategic supply agreement with Nuovo Pignone S.r.l. (part of Baker Hughes) to meet higher demand for turbomachinery components; agreement valid through CY2030.
Facility Inauguration
Azad Engineering opened a 7,600 sq.m. dedicated lean manufacturing facility at its Tunikibollaram Centre of Excellence in Hyderabad to support Baker Hughes IET programs, staffed by ~230 professionals and built to global standards.
Facility Inauguration
Azad Engineering inaugurated a 7,600 sq.m. dedicated lean manufacturing facility at its Tunikibollaram Centre of Excellence in Hyderabad to supply high‑precision, high‑volume components for Baker Hughes with ~230 staff.
