Azad Engineering Ltd Share Price – NSE /  BSE

Engineering, Small Cap

Azad Engineering has signed a supply agreement with Arabelle Solutions France, a French Company, for the supply of critical and highly complex rotating and stationary components to meet the global demand in the nuclear power generation industry. The value of this supply agreement, for its entire term, is valued at - USD ($) 40 million (Rs 340 crore). This supply agreement has initiated a strategic collaboration with Arabelle Solutions France.

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The value of this supply agreement, for its entire term, is valued at $40 million, which is approximately Rs 340 crore. The term of the contract is 5 years.

This supply agreement has initiated a strategic collaboration with Arabelle Solutions France,” the company said in a statement.

The company has also announced its earnings for the quarter ended on 30 September 2024.

Azad Engineering has reported 42.3% rise in standalone net profit to Rs 21.07 crore on a 34.5% increase in revenue from operations to Rs 111.41 crore in Q2 FY25 over Q2 FY24.

While EBITDA improved by 51.4% YoY to Rs 39.79 crore, EBITDA margin expanded by 400 basis points YoY to 35.7% in the second quarter.

Profit before tax in Q2 FY25 stood at Rs 29.94 crore, up by 48.8% from Rs 20.11 crore in Q2 FY24.

Azad Engineering is engaged in the manufacturing precision forged and machined components for clean energy, aerospace, defence, oil and gas, standalone power supply (SPS) as required by OEMs, with its manufacturing unit in Hyderabad.

The scrip shed 0.26% to currently trade at Rs 1671.80 on the BSE.

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Net profit of Azad Engineering rose 8.13% to Rs 21.01 crore in the quarter ended September 2024 as against Rs 19.43 crore during the previous quarter ended September 2023. Sales rose 34.65% to Rs 111.54 crore in the quarter ended September 2024 as against Rs 82.84 crore during the previous quarter ended September 2023.

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Azad Engineering has entered into a non-binding memorandum of understanding (MoU) with Baker Hughes Saudi Arabia (Baker Hughes) on 24 October 2024. The parties have entered into the MoU to enable discussions regarding the potential for an arrangement between the Company and Baker Hughes, KSA to, amongst other things, enable the Company to set up a facility to manufacture and supply of precision components, sub-assemblies, assemblies, to cater the requirements within the kingdom of Saudi Arabia.

Subject to mutual understanding between the parties, the terms of the arrangement will be detailed in the definitive agreement(s) which may be executed between the parties in this regard.

The MoU got exchanged between Azad Engineering and Baker Hughes in the presence of His Royal Highness Prince Abdulaziz bin SalmanAl Saud, Minister of Energy, and in the presence of distinguished officials and committee members of local content forum at Riyadh, Saudi Arabia.

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