Azad Engg jumps on bagging Rs 960-cr multi-yr contract

Azad Engineering rallied 6.08% to Rs 1,679.05 after the firm signed a long term supply agreement with Ge Vernova International LLC, USA with a contract value of $112 million, equivalent to Rs 960 crore.

The order entails supply of highly engineered, complex rotating and stationary airfoils for advanced gas turbine engines to meet Ge Vernovas global demand in the power generation industry.

The contract value is $112 million (Rs 960 crore) and it is to be executed for a period six years.

Azad Engineering is engaged in the manufacturing precision forged and machined components for clean energy, aerospace, defence, oil and gas, standalone power supply (SPS) as required by OEMs, with its manufacturing unit in Hyderabad.

The companys consolidated net profit rose 8.1% to Rs 21.01 crore on 34.6% jump in net sales to Rs 111.54 crore in Q2 FY25 over Q2 FY24.

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