Azad Engineering shares rally over 9% after Rs 960 crore supply deal with US-based firm
Azad Engineering surged as much as 9.5% on Thursday to Rs 1,732.55 on the BSE after the company secured a Rs 960 crore supply deal with GE Vernova International LLC, USA, to deliver complex rotating and stationary airfoils for advanced gas turbine engines.
The long-term supply agreement, valued at $112 million (approximately Rs 960 crore), spans six years and involves the delivery of specialized rotating and stationary airfoils for advanced gas turbine engines, the company said in a press release to the bourses.
The deal is “for the supply of highly engineered, complex rotating and stationary Airfoils for Advanced Gas Turbine Engines,” Azad Engineering said, adding that this deal aims to cater to the growing global demand in the power generation industry.
Azad Engineering reported a strong Q2 performance for FY2025, with a 34.7% rise in revenue to Rs 111.50 crore, compared to Rs 82.80 crore in the same period last year. Profit during the period increased by 7%, reaching Rs 20.80 crore.
Additionally, the company's earnings before interest, tax, depreciation, and amortisation (EBITDA) surged 51% to Rs 39.80 crore, boosting its margin to 35.7%, up from 31.8% in Q2 FY2024.
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