Azad Engineering share price jumps 10% on ₹960 crore order from GE Vernova International

Azad Engineering has signed a long-term supply agreement with GE Vernova International LLC, USA, to supply highly engineered, complex rotating and stationary Airfoils for Advanced Gas Turbine Engines to meet their global demand in the power generation industry.

This current phase of the contract, valued at $112 million ( ₹960 crore), is a robust step towards cementing the company’s everlasting strategic relationship with GE Vernova International LLC, USA. The said order is expected to be executed in 6 years.

The company reported strong numbers across the board in its recent quarterly results for September 2024. Total revenue for the quarter grew by 34% YoY to ₹111 crore, compared to ₹82 crore in Q3FY24. Operationally, the EBITDA (Earnings before interest, tax depreciation and amortisation) for the quarter also improved substantially by 34% YoY to ₹39.8 crore, and the EBITDA margin expanded by 200 bps at 35.7%. Lastly, the net profit grew by 7% YoY to ₹20.8 crore as compared to ₹19.4 crore in Q3FY24

As of Q2FY25, the overall order book stood at ₹4,200 crore, including key order wins from Mitsubishi Heavy Industries, Baker Hughes, Honeywell Aerospace, and Defence. In November 2024, the company received another major order from Arabelle Solutions France, a French Company, to supply critical and highly complex rotating and stationary components worth ₹340 crore. After the latest order win from GE Vernova, the current order book stood at ₹5,500 crore.

Azad Engineering is one of the key manufacturers of its qualified product lines in the aerospace and defence, energy, and oil and gas industries. It manufactures highly engineered, complex, mission—and life-critical components.