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Latest filing: 2026-08-14 10:35
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15 announcements match the current filters (relevance ≥ 5).
26.8% Revenue Growth in Q1 FY27; Azad Delivers India's First Indigenous Turbojet Engine
Azad Engineering reported a strong Q1 FY27 with standalone revenue growing 26.8% YoY to ₹170.5 cr and EBITDA margins expanding 150 bps to 37.6%. A pivotal milestone was the delivery of India's first indigenous expendable turbojet engine to DRDO, marking a shift from component manufacturing to integrated propulsion systems. The company also inaugurated a new 7,600 sq meter dedicated facility for Baker Hughes in April 2026. Management reiterated its long-term annual revenue growth guidance of over 25% while maintaining industry-leading profitability.
Confidence: HIGH
What changedAzad has transitioned from a precision component manufacturer to a fully integrated propulsion system player with the delivery of its first jet engine.
Why it mattersThis shift significantly expands the company's total addressable market in the defense sector and increases 'stickiness' with global OEMs through dedicated manufacturing plants.
Standalone Revenue (Q1 FY27): ₹170.5 crEBITDA Margin: 37.6%New Facility Area: 7,600 sq metersQ1 Revenue vs TTM Revenue: ~27%PAT Margin: 21.3%
📅 Short termThe stock may see positive momentum driven by margin expansion and the high-profile technological milestone in the defense segment.
📈 Long termThe structural shift to propulsion systems and dedicated OEM facilities provides a strong foundation for the guided 25-30% long-term growth.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High customer concentration among 4-5 major OEMs
- Raw material price volatility pass-through limited to >5% fluctuations
- Execution risk in scaling new indigenous engine programs
Key Highlights
Standalone revenue increased 26.8% YoY to ₹170.5 cr in Q1 FY27
EBITDA margins expanded to 37.6% from 36.1% in the previous year
Successfully delivered India's first indigenous expendable turbojet engine to DRDO
Inaugurated a 7,600 sq meter dedicated manufacturing facility for Baker Hughes
Reiterated long-term annual revenue growth guidance of 25-30%
👀 What to Watch
Watch for the production scale-up of the turbojet engine following testing and the revenue ramp-up from the new Baker Hughes facility starting H2 FY27.
26.8% Revenue Growth in Q1 FY27; Azad Engineering Delivers First Indigenous Turbojet Engine
Azad Engineering reported a strong Q1 FY27 with standalone revenue growing 26.8% YoY to ₹170.52 cr and EBITDA margins expanding to 37.6%. A major strategic milestone was achieved with the delivery of the first indigenous turbojet engine to DRDO, signaling a move up the value chain into propulsion systems. The company has inaugurated four new dedicated manufacturing facilities for global OEMs like GE Vernova and Siemens, with significant P&L contributions expected from H2 FY27. Management has reiterated its long-term revenue growth guidance of over 25% per annum.
Confidence: HIGH
What changedAzad has transitioned from a component manufacturer to a propulsion systems player with the delivery of its first turbojet engine and has significantly expanded its physical footprint with four new OEM-specific plants.
Why it mattersThe shift to propulsion systems increases the addressable market and margins, while dedicated plants lock in long-term 'wallet share' with global energy and aerospace giants, providing high revenue visibility.
Q1 FY27 Standalone Revenue: ₹170.52 crEBITDA Margin: 37.6%GE Vernova Contract Value: $112 millionContract vs TTM Revenue: ~156%Domestic Revenue Growth: 90.7%
📅 Short termThe stock may react positively to the margin expansion and the high-profile milestone of delivering indigenous jet engine technology to the Ministry of Defence.
📈 Long termStructural growth is supported by a massive order book and the commissioning of dedicated plants for global OEMs, positioning the company as a critical global supply chain partner.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration among 4-5 major OEMs
- Foreign currency volatility impacting other income
- Execution risk in ramping up four new facilities simultaneously
Key Highlights
Standalone revenue increased 26.8% YoY to ₹170.52 cr, representing approximately 28% of the previous year's total revenue.
EBITDA grew 32.1% YoY to ₹64.07 cr, with margins improving to 37.6% from 36.1% in the same quarter last year.
Domestic revenue surged 90.7% YoY to ₹20.46 cr, driven by increased participation in Indian aerospace and defense programs.
Four new dedicated facilities totaling approximately 29,600 sq.m were inaugurated for GE Vernova, Mitsubishi, Siemens Energy, and Baker Hughes.
The company secured a major contract with GE Vernova valued at $112 million (~₹940 cr), which is 1.5x its TTM revenue.
👀 What to Watch
Watch for the production ramp-up at the four newly inaugurated dedicated facilities starting H2 FY27 and the progress of the $112 million GE Vernova contract execution.
Azad Engineering Q1 FY27: Revenue up 26% YoY to Rs 172.6 Cr; PAT at Rs 35.8 Cr
Azad Engineering reported a 25.9% YoY increase in consolidated revenue to Rs 172.60 Cr for Q1 FY27, maintaining its guided growth trajectory. Net profit rose 21.5% YoY to Rs 35.75 Cr, though it remained flat on a sequential basis compared to Q4 FY26 (Rs 35.99 Cr). The company has utilized Rs 417.12 Cr of its Rs 525 Cr capex allocation for manufacturing expansion. With Rs 110.58 Cr in unutilized funds remaining, the company is well-positioned to continue its capacity build-out for global OEMs.
Confidence: HIGH
What changedRelease of Q1 FY27 financial results showing steady year-on-year growth and progress on capital expenditure utilization.
Why it mattersThe results confirm the company's ability to scale revenue in the high-precision engineering space while maintaining healthy margins and executing its plant expansion strategy.
Revenue (Q1 FY27): Rs 172.60 CrPAT (Q1 FY27): Rs 35.75 CrYoY Revenue Growth: 25.9%Capex Utilized: Rs 417.12 CrRevenue vs TTM: 28.6%
📅 Short termThe stock may see positive sentiment due to strong YoY growth, though the flat sequential profit performance might lead to some consolidation.
📈 Long termStructural growth remains strong as the company increases its wallet share with global aerospace and energy OEMs through dedicated manufacturing facilities.
⚠ Risk flags
- High client concentration among 4-5 major global OEMs
- High valuation with a P/E exceeding 120x
- Exposure to high-value alloy price volatility
Key Highlights
Consolidated revenue grew 25.9% YoY to Rs 172.60 Cr from Rs 137.09 Cr in June 2025.
Net profit increased 21.5% YoY to Rs 35.75 Cr, while remaining flat sequentially (QoQ).
Utilized Rs 417.12 Cr out of Rs 525.00 Cr allocated for capital expenditure and manufacturing plants.
Unutilized funds from the placement stand at Rs 110.58 Cr as of June 30, 2026.
Basic and Diluted EPS for the quarter stood at Rs 5.53, up from Rs 4.56 YoY.
👀 What to Watch
Monitor the commissioning timeline of the three dedicated plants for Siemens, Mitsubishi, and GE, as these are the primary drivers for future revenue scaling.
Azad Engineering Delivers First Indigenous Turbo Jet Engine to DRDO
Azad Engineering has successfully delivered its first Expendable Indigenous Turbo Jet Engine to the DRDO and the Ministry of Defence. This marks a significant transition for the company from manufacturing individual precision components to the assembly and delivery of complex aero-engine systems. While the specific contract value for this delivery was not disclosed, it validates the company's technical capability in the high-entry-barrier defense propulsion sector. The company currently maintains a high Operating Profit Margin of 37.3% on a TTM revenue of Rs 603 Cr.
Confidence: HIGH
What changedAzad has evolved from a component supplier to a provider of fully assembled indigenous turbojet engines for the Indian defense sector.
Why it mattersThis milestone proves the company's ability to handle complex system integration, which typically commands higher value and stickier contracts compared to standalone component manufacturing.
TTM Revenue: Rs 603 CrOperating Profit Margin: 37.3%Market Cap: Rs 15505 CrCurrent Wallet Share: 1.5%Expected Growth Rate: 25-30%
📅 Short termThe announcement is likely to be viewed positively by the market as it reinforces the company's 'Make in India' credentials and technical prowess in a niche sector.
📈 Long termThis capability could structurally re-rate the business by opening doors to larger system-level contracts in the global aerospace supply chain over the next 3-5 years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in scaling engine assembly
- High client concentration with defense agencies
- Lack of disclosed contract value for this specific delivery
Key Highlights
Successfully delivered the 1st Expendable Indigenous Turbo Jet Engine to DRDO and Ministry of Defence.
Transitioned from component manufacturing to full assembly of complex Aero-engine systems.
Supports the company's long-term strategy to increase its 1.5% wallet share with global and domestic OEMs.
Aligns with the company's projected growth rate of 25-30% in the Aerospace & Defence segment.
👀 What to Watch
Investors should monitor for follow-on production orders from the Ministry of Defence and whether this successful delivery leads to similar assembly contracts with global partners like Safran or GE.
Azad Engineering FY26 Revenue Jumps 30% to INR 590 Cr; Order Book Hits INR 6,500 Cr
Azad Engineering reported a strong FY26 with revenue growing 30% YoY to INR 590 crores and PAT margins expanding to 22.4%. The company has successfully transitioned from a capacity-building phase to an execution phase, commissioning four new dedicated facilities for global OEMs including Baker Hughes and Mitsubishi. With a massive order book of INR 6,500 crores, which is approximately 11-12x its FY26 revenue, the company offers high long-term visibility. Management has maintained a growth guidance of 25%+ for FY27, backed by sticky, multi-year contracts in high-barrier precision engineering segments.
Key Highlights
Full-year FY26 revenue reached INR 590 crores, up 30% YoY, with Q4 revenue at INR 157 crores.
Order book stands at a robust INR 6,500 crores, providing significant multi-year revenue visibility.
EBITDA margins remained strong at 36.9% for the full year, while PAT margins improved to 22.4%.
Aerospace & Defence segment crossed the INR 100 crore revenue milestone for the first time in FY26.
Secured a prestigious 8-year single-source contract with Mitsubishi Heavy Industries for critical nozzle vane segments.
👀 What to Watch
Investors should maintain a positive outlook given the company's massive order book and successful qualification with global OEMs. The focus should remain on the execution and throughput of the newly commissioned facilities to sustain the guided 25%+ growth trajectory.
Azad Engineering FY26 PAT Jumps 54% to ₹1,336 Mn; Revenue Crosses ₹6,000 Mn Mark
Azad Engineering reported its highest-ever annual performance for FY26, with consolidated revenue growing 31.8% YoY to ₹6,029.8 million. Profit After Tax (PAT) saw a significant surge of 54.4% YoY, reaching ₹1,335.6 million, driven by strong execution in Energy and Aerospace segments. The company successfully commissioned four dedicated manufacturing facilities for global OEMs like GE Vernova and Baker Hughes during the year. With exports contributing 93% of revenue and a robust order pipeline from global giants, the company demonstrates strong growth momentum and operational scaling.
Key Highlights
Consolidated FY26 Revenue grew 31.8% YoY to ₹6,029.8 Mn, while PAT increased 54.4% to ₹1,335.6 Mn.
EBITDA margins remained robust at 37.4% for the full year and 38.0% for Q4FY26.
Aerospace & Defence segment revenue crossed the ₹1,000 Mn milestone for the first time in the company's history.
Commissioned four dedicated manufacturing facilities at Tunikibollaram Industrial Park for major global clients including GE Vernova and Mitsubishi.
Export revenue continues to dominate the mix, accounting for approximately 93% of total standalone revenue in FY26.
👀 What to Watch
Investors should focus on the company's ability to maintain high margins while scaling capacity for global OEMs. The strong order book and successful facility commissioning make it a compelling growth story in the precision engineering space.
Azad Engineering FY26 Net Profit Jumps 49% to ₹1,321.6 Million; Revenue Up 30% YoY
Azad Engineering reported a strong performance for the financial year ended March 31, 2026, with consolidated revenue growing 30.3% YoY to ₹5,903.75 million. Net profit for the full year surged by 49.3% to ₹1,321.61 million, driven by operational efficiencies and scaling. The company successfully utilized ₹5,402.73 million from its ₹7,000 million QIP for capital expenditure and general corporate purposes. The balance sheet remains robust with total assets increasing to ₹21,957.34 million as of March 2026.
Key Highlights
Full-year revenue from operations increased by 30.3% YoY to ₹5,903.75 million compared to ₹4,529.24 million in FY25.
Annual net profit grew significantly by 49.3% to ₹1,321.61 million from ₹885.25 million in the previous year.
Earnings Per Share (EPS) for FY26 improved to ₹20.46, up from ₹14.47 in FY25.
The company has deployed ₹3,686.65 million towards capital expenditure from its QIP proceeds to fuel future growth.
Q4 FY26 revenue stood at ₹1,513.92 million, representing a 21.6% growth over the corresponding quarter of the previous year.
👀 What to Watch
Investors should take note of the strong bottom-line growth and the company's ability to scale operations while maintaining healthy margins. The successful deployment of QIP funds into capital expenditure suggests a positive outlook for future capacity and order execution.
Azad Engineering Re-appoints CEO Rakesh Chopdar and Two Directors for 5-Year Terms
The Board of Azad Engineering has approved the re-appointment of founder Mr. Rakesh Chopdar as Executive Chairman and CEO for a five-year term starting September 13, 2026. Additionally, Mrs. Jyoti Chopdar and Mr. Vishnu Malpani have been re-appointed as Whole-Time Directors for the same duration, subject to shareholder approval. These appointments ensure leadership continuity as the company pursues an ambitious strategy to scale its operations nearly 10x over the coming years. The management team remains focused on high-growth sectors including Aerospace, Defence, and Energy, serving global OEMs like Boeing and Rolls Royce.
Key Highlights
Re-appointment of Rakesh Chopdar as CEO and Executive Chairman for a 5-year term effective September 13, 2026.
Mrs. Jyoti Chopdar and Mr. Vishnu Malpani re-appointed as Whole-Time Directors for 5-year terms.
Strategic focus highlighted on scaling the company nearly 10x over the coming years through capital formation and organizational scale-up.
Company maintains strong relationships with global OEMs including GE Vernova, Mitsubishi, Boeing, and Rolls Royce.
👀 What to Watch
Investors should view this leadership continuity positively as it provides stability for the company's long-term growth plans in the specialized aerospace and defense manufacturing sector. Monitor the upcoming AGM for shareholder approval of these re-appointments.
Azad Engineering Signs Strategic Amendment with Baker Hughes for Increased Supply till 2030
Azad Engineering has signed a significant amendment to its Strategic Supply Agreement with Nuovo Pignone S.r.l., a Baker Hughes company. The amendment addresses a substantial increase in annual demand for critical turbomachinery components used in power generation. This international contract is scheduled to remain in force until December 2030, providing long-term revenue visibility. This development aligns with Azad's strategy to deepen ties with global OEMs in the high-value energy equipment sector.
Key Highlights
Amendment No. 3 signed with Baker Hughes subsidiary to meet significant increase in annual demand.
Contract involves supply of critical turbomachinery components for power generation applications.
The strategic agreement is valid for a 5-year term expiring in December 2030.
Strengthens presence in the technologically sophisticated oil and gas energy equipment supply chain.
👀 What to Watch
This reinforces Azad's position as a preferred global supplier; investors should maintain a positive outlook on the company's growth trajectory in the energy segment.
Azad Engineering Opens 7,600 Sq. M. Dedicated Facility for Baker Hughes in Hyderabad
Azad Engineering has inaugurated a new 7,600 sq. m. lean manufacturing facility in Hyderabad, dedicated exclusively to global energy technology leader Baker Hughes. This facility, the company's fourth dedicated plant, will employ approximately 230 skilled professionals and focus on high-precision components for industrial and energy technology. The expansion strengthens a strategic partnership that began in 2018 and is designed for high-volume production of critical rotating airfoils. This move is expected to significantly bolster Azad's capacity to meet global demand in the Energy and Oil & Gas sectors.
Key Highlights
Inaugurated a 7,600 sq. m. advanced lean manufacturing facility at Tunikibollaram, Hyderabad.
The facility is dedicated exclusively to supporting global energy technology leader Baker Hughes.
Employs approximately 230 skilled professionals to deliver components with micron-level precision.
Marks Azad Engineering's 4th dedicated facility, underscoring aggressive capacity build-out.
Strengthens a long-term strategic partnership for Gas & Steam Turbine components and Oilfield Services.
👀 What to Watch
Investors should view this as a strong indicator of long-term revenue visibility and deep integration with global Tier-1 OEMs. Monitor the facility's contribution to margin expansion as high-volume production ramps up.
Azad Engineering Bags 8-Year Single Source Contract from Mitsubishi Heavy Industries
Azad Engineering has secured a prestigious 8-year Long Term Contract & Price Agreement (LTCPA) with Japan's Mitsubishi Heavy Industries (MHI). The company will act as a Single Source Supplier for complex hot-section Nozzle Vanes Segments used in gas turbine engines. This agreement signifies a major technological advancement for Azad, moving from cold-section components to more critical hot-section turbine parts. The partnership will utilize a dedicated lean manufacturing facility to serve MHI's global power generation markets.
Key Highlights
8-year Long Term Contract & Price Agreement (LTCPA) signed with Mitsubishi Heavy Industries (MHI).
Designated as a Single Source Supplier for highly engineered hot-section Nozzle Vanes Segments.
Technical transition from manufacturing cold-section airfoils to critical combustion hot-section components.
The contract serves MHI's advanced gas turbine platforms for global power generation markets.
👀 What to Watch
This is a high-quality order win that enhances Azad's technical moat and provides long-term revenue visibility. Investors should monitor the execution and potential margin expansion resulting from these complex high-precision components.
Azad Engineering Q3 FY26 PAT Jumps 40% YoY to ₹34 Cr; Order Book Exceeds ₹6,500 Cr
Azad Engineering reported a strong Q3 FY26 with revenue growing 31% YoY to ₹155.8 crores and PAT rising 40.1% to ₹34 crores. The company's 9-month profitability has already surpassed the total profit of FY25, driven by a robust order book of over ₹6,500 crores. Management maintains a positive outlook with a 25%+ revenue growth guidance and sustainable EBITDA margins in the 33-35% range. New facilities for global OEMs like GE and Siemens are currently in the stabilization phase, with full utilization expected by FY28.
Key Highlights
Q3 FY26 Revenue grew 31% YoY to ₹155.8 crores; EBITDA rose 40.7% to ₹60.1 crores.
9-month PAT grew by 55% YoY, already exceeding the entire FY25 profit level.
Order book remains strong at over ₹6,500 crores, providing multi-year revenue visibility.
EBITDA margins remained stable with a long-term target range of 33% to 35%.
Capacity expansion for GE, Mitsubishi, and Siemens is on track for full utilization by FY28.
👀 What to Watch
Investors should monitor the ramp-up of new facilities and the increasing share of high-margin aerospace components in the revenue mix. The strong order book and margin discipline suggest a robust long-term growth trajectory.
Azad Engineering Q3FY26 PAT jumps 40.1% YoY to ₹340.4 Mn; 9M PAT surpasses full FY25
Azad Engineering delivered a robust performance for Q3FY26, with standalone revenue growing 31.4% YoY to ₹1,558.0 million and PAT increasing 40.1% to ₹340.4 million. The company's 9M FY26 performance has already surpassed its full-year FY25 results, with 9M PAT reaching ₹970.3 million, a 55.3% YoY increase. Growth was balanced across segments, with both Energy/Oil & Gas and Aerospace & Defence growing 33% YoY in the quarter. The company is successfully transitioning from a qualification phase to a capacity-led execution phase, supported by the inauguration of three new lean manufacturing facilities in 2025.
Key Highlights
Q3FY26 standalone revenue grew 31.4% YoY to ₹1,558.0 million with an EBITDA margin of 38.6%.
9MFY26 PAT of ₹970.3 million has already exceeded the total PAT for the entire previous financial year (FY25).
Aerospace & Defence and Energy/Oil & Gas segments both recorded 33% YoY growth in Q3FY26.
Inaugurated three new lean manufacturing facilities for Siemens Energy, GE Vernova, and MHI between March and September 2025.
Export revenue remains dominant, contributing 91.1% of total revenue in 9MFY26.
👀 What to Watch
Investors should note the strong execution momentum and margin expansion as the company scales its new manufacturing capacities. The stock remains a key play on the 'Make in India' theme in the high-precision engineering and aerospace sectors.
Azad Engineering Q3 PAT Jumps 44% YoY to ₹34.17 Cr; Revenue Up 30%
Azad Engineering reported a strong performance for Q3 FY26, with consolidated revenue from operations growing 30.2% YoY to ₹158.72 crore. Net profit for the quarter rose significantly by 44.1% YoY to ₹34.17 crore, driven by robust operational execution. On a nine-month basis, the company's PAT surged to ₹95.75 crore compared to ₹61.73 crore in the previous year. The company maintains healthy margins with a basic EPS of ₹5.27 for the quarter.
Key Highlights
Consolidated Revenue from Operations increased 30.2% YoY to ₹1,587.19 million in Q3 FY26.
Net Profit (PAT) for the quarter grew 44.1% YoY to ₹341.71 million.
9M FY26 Revenue reached ₹4,414.36 million, up from ₹3,304.28 million in 9M FY25.
Basic EPS for the quarter improved to ₹5.27 compared to ₹4.71 in the same period last year.
Total expenses for the quarter were managed at ₹1,190.40 million against a total income of ₹1,668.56 million.
👀 What to Watch
The strong double-digit growth in both revenue and profit confirms the company's scaling capabilities in the high-precision engineering space. Investors may consider holding or accumulating on dips given the robust earnings trajectory and sector tailwinds.
Azad Engineering Q3 FY26 Net Profit Rises 43.8% YoY to ₹341.17 Million
Azad Engineering reported a strong performance for Q3 FY26, with consolidated revenue from operations growing 30.2% year-on-year to ₹1,587.19 million. Net profit for the quarter increased significantly by 43.8% YoY to ₹341.17 million, up from ₹237.20 million in the same period last year. For the nine-month period ended December 2025, the company's profit reached ₹957.54 million, a 55.1% increase compared to 9M FY25. The company maintained steady growth momentum with total income for the nine-month period rising to ₹4,705.09 million.
Key Highlights
Consolidated Revenue from operations grew 30.2% YoY to ₹1,587.19 million in Q3 FY26.
Net Profit (Consolidated) surged 43.8% YoY to ₹341.17 million for the quarter ended December 31, 2025.
9M FY26 Consolidated Profit stands at ₹957.54 million, up from ₹617.25 million in 9M FY25.
Basic EPS for the quarter improved to ₹5.11 compared to ₹4.01 in the year-ago period.
Total Consolidated Income for the nine months ended Dec 31, 2025, rose to ₹4,705.09 million from ₹3,439.19 million YoY.
👀 What to Watch
The strong YoY growth in both revenue and profitability indicates robust demand and operational efficiency; investors should monitor the company's order book and execution capabilities. Long-term investors may find the consistent margin improvement and scaling of operations encouraging.
