Azad Engineering Limited

NSE: AZAD · Heavy Electrical Equipment

52W Range₹1,360 ₹2,987

Snapshot

Unlock Azad Engineering Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Azad Engineering Limited is a manufacturer of highly engineered, mission-critical precision forged and machined components. The company serves the aerospace, defence, energy, and oil and gas sectors with a diverse portfolio of complex mechanical parts.

Business Model

The company generates revenue by supplying specialized components and sub-assemblies to global original equipment manufacturers (OEMs) across high-barrier-to-entry industries. Its business model relies on advanced manufacturing capabilities and long-term contracts for critical industrial and aerospace hardware.

Growth Outlook

Growth is driven by increasing demand for precision components in the global aerospace and defence sectors, alongside expansion into international markets. The company continues to leverage its technical expertise to secure complex manufacturing mandates from global industrial leaders.

Key Risks

  • Customer Concentration. The company's revenue may be significantly impacted by the loss of key global aerospace or energy OEM clients.
  • Regulatory and Compliance Risk. Operating in the aerospace and defence sectors requires strict adherence to international quality standards and export controls, which can be costly and complex to maintain.
  • Supply Chain Volatility. Fluctuations in the cost and availability of high-grade raw materials used in precision forging can affect profit margins.
  • Geopolitical Sensitivity. As an exporter to multiple global regions, the company is susceptible to changes in international trade policies and geopolitical tensions.

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Key Metrics

REVENUE

₹638 Cr

TTM · consolidated

+28.7%YoY

NET PROFIT

₹139 Cr

TTM · consolidated

+40.9%YoY

EPS

₹21.49

TTM · consolidated

+31.8%YoY

RETURN ON EQUITY

9.5%

TTM · consolidated

+2.4 ppYoY

RETURN ON CAPITAL EMPLOYED

12.5%

TTM · consolidated

+2.5 ppYoY

P/E

129.2x

Q1 FY27 · consolidated

129.2 vs 168.5x5Y avg

EV/EBITDA

65.4x

Q1 FY27 · consolidated

65.4 vs 89.8x5Y avg

EBITDA MARGIN

44.0%

TTM · consolidated

+4.5 ppYoY

NET PROFIT MARGIN

20.4%

Q1 FY27 · consolidated

-1.1 ppYoY

DEBT TO EQUITY

0.3x

Q1 FY27 · consolidated

+0.13xYoY

Peers · Heavy Electrical Equipment

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Azad Engineering LimitedAZAD
₹17,936 Cr129.2465.3828.7%44.0%9.5%12.5%+76.3%
TD Power Systems LimitedTDPOWERSYS
₹23,125 Cr42.0557.3154.3%18.9%28.5%38.6%+37.4%
Triveni Turbine Ltd.TRITURBINE
₹18,352 Cr54.6235.7417.7%22.7%25.2%33.2%+12.1%
Atlanta Electricals LimitedATLANTAELE
₹14,470 Cr32.7037.3619.4%23.4%36.8%
Inox Wind Ltd.INOXWIND
₹12,858 Cr30.8713.5417.1%24.0%7.3%12.0%-48.4%
Quality Power Electrical Equipments LtdQPOWER
₹11,580 Cr86.8945.2625.2%40.4%33.0%+73.6%

As of Q1 FY27

Financials