Rs 3,300 crore order book: Multibagger defence company bags new order worth USD 16 Million from Honeywell Aerospace ISC, USA

The stock gave multibagger returns of 130 per cent from its 52-week low of Rs 641.95 per share.

Azad Engineering Limited has solidified its strategic partnership with Honeywell Aerospace ISC, USA, through a significant business award. The company has been recognized for its exceptional capabilities in manufacturing and supplying high-complexity components that cater to the burgeoning global demand within the aviation industry. Phase 1 of the award, valued at USD 16 million, marks a substantial addition to the existing collaboration between the two entities. The international nature of the order underscores Azad Engineering Limited's global reach and its ability to meet the stringent quality standards required by the aviation sector.

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 8,300 crore and as of June 30, 2024, the company has an order book worth Rs 3,300 crore. The stock’s 52-week high is Rs 2,080 and its 52-week low is Rs 641.95. The stock gave multibagger returns of 130 per cent from its 52-week low of Rs 641.95 per share.  Investors should keep an eye on this Small-Cap stock.

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