Smallcap stock jumps 8% after receiving order worth ₹960 Cr from USA based company

Published 16-01-2025, 12:15 pm
© Reuters.  Smallcap stock jumps 8% after receiving order worth ₹960 Cr from USA based company

The shares of one of the prominent player in the field of high-precision engineering, specializing in manufacturing of advanced components for critical applications, jumped up to 8 percent following signing Long-Term Supply Agreement with GE Vernova International LLC, USA

Price action

With a market capitalization of Rs. 9,356.4 crores on Thursday, the shares of Azad Engineering Ltd (NS:AZAD) is trading at Rs. 1682.90 up by 8 percent making a high of Rs. 1,733.15 per share compared to its previous closing price of Rs. 1,582.50 per share.

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What Happened

Azad Engineering Limited specialises in design, development, and manufacturing of advanced components for critical applications for aerospace, power, and defence sectors and more, has signed a Long-Term Supply Agreement with GE Vernova International LLC, USA.

The agreement is to supply highly engineered, complex rotating and stationary airfoils for advanced gas turbine engines. The contract, valued at USD 112 million or Rs. 960 crores which should be executed within six years, marks a major step in strengthening the company’s strategic relationship with GE Vernova, particularly in meeting global demand in the power generation industry.

Revenue Breakup

Azad Engineering Limited gets most of its revenue from the Energy, Oil & Gas sector consisting 84 percent, with Aerospace & Defence contributing 13 percent, and 3 percent from other areas.

Product Portfolio

The Energy and Oil & Gas Industry sector consists of products such as Fixed Airfoils, Last Stage Airfoils – Stationary, Stator & Rotary Airfoils, Slips, Drill Bits, Hatch Covers, and Bonnet Frames. The Aerospace and Defence Industry includes products like Airfoils, Unison Rings, Arms, Levers, Valve Plates, Butterfly Seals, Shafts & Bearings, Rod Pistons, Plates, Sealing Rings, Housings, Compressors, and Mounts.

Financials

The company’s revenue rose by 20.95 percent from Rs 93.48 crore to Rs 113.07 crore in Q2FY24-25. Meanwhile, Net profit rose from Rs 19.43 crores to Rs 21.01 crore during the same period.

Written by Sridhar J

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