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.Powered by Capital Market - Live

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. Powered by Capital Market - Live

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. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales111.5482.84 35 OPM %35.7431.70 - PBDT36.5225.16 45 PBT29.7520.09 48 NP21.0119.43 8 Powered by Capital Market - Live

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. Powered by Capital Market - Live

The agency has assigned 'CARE A2+' rating to the short-term bank facilities of Azad Engineering. CARE Rating stated that the ratings assigned to Azad Engineering (AEL) derive strength from experienced promoter and leadership team, established relationship with reputed original equipment manufacturing (OEMs), track record of supplying mission/life critical components to OEMs and advanced infrastructure. Ratings also consider the consistent growth in revenue in FY24 with healthy profitability margins, satisfactory financial profile despite moderation expected in near term and presence in critical products of energy, defence, aerospace and oil & gas. The company operates as one of the few suppliers that has wide spectrum of products used in critical operations of energy, defence, aerospace and oil & gas sector. One of the major components manufactured by the company is turbine blade used on utility supply turbines essentially designed to be failsafe. AEL achieved qualification for over 1700+ products through testing procedures from OEMs, which are then put for production based on the long-term orders placed by these OEMs. Such orders generally span for 4-5 years based on the volume of order and machine availability at AEL. AEL consistently supplied against the orders in the past five years which led to improvement in total operating income (TOI) that increased from Rs 122.08 crore in FY20 to Rs 257.68 crore in FY23 and further increased to Rs 343.19 crore in FY24. The company maintained profit before interest, lease rentals, depreciation, and taxation (PBILDT) margin above 25% in this period. AEL's credit profile improved significantly in FY24 due to successful completion of initial public offering through which the company generated ₹240 crore, which was deployed for repayment of existing loans, planned capital expenditure and working capital purposes. However, ratings are constrained by elongated working capital cycle due to lengthy qualification process and commercialisation and project risk associated with large-sized debt-funded capex. 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 0.56% to currently trade at Rs 1645 on the BSE. Powered by Capital Market - Live

Azad Engineering has been assigned the credit rating CARE A-; Stable/ CARE A2+ for bank facilities of Rs 180 crore. Powered by Capital Market - Live

Azad Engineering will hold a meeting of the Board of Directors of the Company on 11 November 2024Powered by Capital Market - Live

HMA Agro Industries Ltd, Oriental Aromatics Ltd, Transport Corporation of India Ltd and Siyaram Silk Mills Ltd are among the other gainers in the BSE's 'B' group today, 04 November 2024.Azad Engineering Ltd spiked 9.35% to Rs 1597.65 at 12:02 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 67236 shares were traded on the counter so far as against the average daily volumes of 11392 shares in the past one month. HMA Agro Industries Ltd soared 8.95% to Rs 49.2. The stock was the second biggest gainer in 'B' group. On the BSE, 25.68 lakh shares were traded on the counter so far as against the average daily volumes of 35262 shares in the past one month. Oriental Aromatics Ltd surged 8.66% to Rs 635. The stock was the third biggest gainer in 'B' group. On the BSE, 28961 shares were traded on the counter so far as against the average daily volumes of 9993 shares in the past one month. Transport Corporation of India Ltd rose 8.15% to Rs 1171.55. The stock was the fourth biggest gainer in 'B' group. On the BSE, 23430 shares were traded on the counter so far as against the average daily volumes of 2671 shares in the past one month. Siyaram Silk Mills Ltd spurt 5.92% to Rs 606.15. The stock was the fifth biggest gainer in 'B' group. On the BSE, 75139 shares were traded on the counter so far as against the average daily volumes of 18072 shares in the past one month. Powered by Capital Market - Live

Azad Engineering has signed Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries, Japan (MHI) for supply of highly engineered & complex rotating and stationary Airfoils for Advanced Gas & Thermal power turbine engines to meet their global demand in the power generation industry. This current Phase of contract, valued at ~ USD ($) 82.89 Million (Rs ~ 700 crore) is a robust step towards cementing an everlasting strategic relationship with Mitsubishi Heavy Industries, Japan (MHI)Powered by Capital Market - Live

Azad Engineering received a business award from Honeywell Aerospace ISC, USA, for manufacturing and supply of high complex components to meet the global demand in the Aviation industry. This Phase 1 of the Award, valued at - USD 16 million spend over the contract period has added to its strategic collaboration with Honeywell Aerospace, USA.Powered by Capital Market - Live