Multibagger Aerospace and Defence Company Signs Supply Agreement with French Company for Nuclear Power Components – FIIs and DIIs Increase Stake

The company’s shares have delivered a multibagger YTD return of over 130 per cent.

This Small-Cap company specializes in manufacturing aerospace components and turbines, supplying these high-precision products to OEMs across the aerospace, defence, energy, and oil & gas sectors.

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 global demand in the nuclear power generation industry. The value of this supply agreement, for its entire term, is USD ($) 40 million (Rs 340 crore). This supply agreement has initiated a strategic collaboration with Arabelle Solutions France.

Financial Performance

As per the Quarterly Results in June 2024, Azad Engineering recorded a revenue of Rs 98 crore compared to Rs 76 crore representing a growth of around 29.64 per cent YoY. The operating profit for the period stood at Rs 33 crore with a margin of 34 per cent compared to Rs 26 crore with a margin of 35 per cent. The net profit stood at Rs 17 crore compared to a profit of Rs 7 crore representing a gain of around 142 per cent YoY. Looking at the annual performance, the company generated a revenue of Rs 341 crore in FY24, compared to Rs 252 crore in FY23. The operating profit for FY24 was Rs 117 crore, with a net profit of Rs 59 crore compared to a profit of Rs 8 crore.

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Share Performance

At the start of today’s trading session, Azad Engineering opened at Rs 1627.85 per share, compared to the last day’s closing price of Rs 1676.20 per share on the BSE. Finally, the company’s shares are at around Rs 1627.85 per share on the BSE. The current market capitalization stands at Rs 9,622.71 crore, and the stock has generated an impressive multibagger YTD return of over 130 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.