Rs 4,500 crore order book: Gas turbine engines manufacturer bags new order worth Rs 811 crore from Siemens Energy Global GmbH & Co. KG, Germany
The stock is up by 72.6 per cent from its 52-week low of Rs 890.80 per share.
Azad Engineering Limited has secured a significant six-year contract with Siemens Energy Global GmbH & Co. KG to manufacture and supply mission-critical components for advanced turbine systems. Valued at EURO 90.1 million (Rs 811 crore), the agreement covers a range of high-performance parts, including combustion commodities, cold blades and vanes, and machined parts and assemblies. This milestone solidifies Azad's strategic partnership with Siemens Energy, establishing the company as a trusted supplier for essential industries.
Earlier, the company secured a purchase order from Bharat Heavy Electrical Limited (BHEL) for the supply of advanced, high-complex rotating air foils 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 air foils are currently imported due to their high precision and technical complexity. AZAD Engineering has met these stringent requirements, establishing itself as an import substitute.
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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 air foils 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 8,800 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 890.60. The stock is up by 72.6 per cent from its 52-week low of Rs 890.80 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.