Rs 4,500 Crore Order Book: Gas Turbine Engines Manufacturer Inaugurates First Exclusive Lean Manufacturing Facility for Mitsubishi Heavy Industries
The stock’s 52-week high is Rs 2,080 per share and its 52-week low is Rs 1,157.60 per share.
Azad Engineering celebrated a significant achievement with the inauguration of its first exclusive lean manufacturing facility for Mitsubishi Heavy Industries (MHI) in Tunikibollaram, Hyderabad. This 7,200 sq. mts. state-of-the-art facility, opened by senior leaders from MHI, the Telangana government, and Azad Engineering, signifies a major expansion in their decade-long partnership. The facility, equipped with cutting-edge technology for high-precision components, is integrated with Azad's Centre for Excellence and Innovation and currently employs 200 skilled professionals, with plans for further expansion.
The inauguration marked not only the physical expansion of Azad Engineering but also the strengthening of its relationship with MHI. This development follows the signing of a Long-Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries Limited, Japan, in November 2024, demonstrating a deep and enduring commitment between the two companies. The progression from a small number of machines in 2012 to this world-class manufacturing center underscores their shared dedication to excellence.
Moreover, Azad Engineering's excellence was further recognized with the prestigious global ‘2024 Partner of the Year’ Award from Mitsubishi Heavy Industries. This accolade, coupled with the opening of the exclusive lean manufacturing facility, firmly establishes Azad Engineering as a leader in precision engineering and reinforces India's growing prominence in global manufacturing. The facility's expansion and technological advancements promise to create numerous skilled jobs and further solidify the partnership between Azad Engineering and MHI.
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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 per share and its 52-week low is Rs 1,157.60 per share. The stock is up by 13 per cent from its 52-week low of Rs 1,157.60 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.