Rs 4,500 crore order book: Gas turbine engines manufacturer bags new order from Bharat Heavy Electrical Limited (BHEL)
The stock is up by 97.7 per cent from its 52-week low of Rs 718.80 per share.
Azad Engineering Limited has secured a purchase order from Bharat Heavy Electrical Limited (BHEL) for the supply of advanced, high-complex rotating airfoils for supercritical turbines. This prestigious collaborative indigenization project is the result of a collaborative evaluation and approval by the Central Electricity Authority (Ministry of Power), National Thermal Power Corporation (NTPC), and Bharat Heavy Electrical Limited (BHEL). These airfoils are currently imported due to their high precision and technical complexity. AZAD Engineering has met these stringent requirements, establishing itself as an import substitute.
Earlier, the company signed a significant agreement with GE VERNOVA INTERNATIONAL LLC, USA. This Long-Term Supply Agreement ensures the supply of complex, highly engineered rotating and stationary Airfoils for Advanced Gas Turbine Engines. This collaboration strengthens their presence in the global power generation industry, with the current phase valued at USD 112 Million (Rs 960 Crore). This signifies a strong step towards a lasting strategic partnership between the two companies
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Azad Engineering Ltd, founded in 1983, is a manufacturer of crucial components for the aerospace, defence, energy and oil and gas industries. Their expertise lies in creating highly engineered, complex and mission-critical parts like 3D rotating airfoils and blades for turbine engines, along with other vital components for gas, nuclear and thermal turbines. They supply these precision-forged and machined parts to leading global original equipment manufacturers (OEMs) including General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace and MAN Energy Solutions SE.
The company has a market cap of over Rs 8,000 crore and as of September 30, 2024, the company has an order book worth Rs 4,500 crore. The stock’s 52-week high is Rs 2,080 and its 52-week low is Rs 718.80. The stock is up by 97.7 per cent from its 52-week low of Rs 718.80 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.