Azad Engineering was locked in 5% upper circuit at Rs 1779.75 after the company announced that it has received an award for a tenure of 5 years from Siemens Enerry Global CmtH & Co. KG, Germany.
The contract involves manufacture and supply of critical rotating components for Siemens global demands of advanced gas & thermal turbine engines.
Azad Engineering is a key manufacturer of qualified product lines supplying to global original equipment manufacturers (OEMs) in the energy, aerospace and defence, and oil and gas industries. The products the company manufactures are highly engineered, complex, mission and life critical high precision forged and machined components.
The company's consolidated net profit rose 0.67% to Rs 14.93 crore on a 9.29% increase in sales to Rs 92.80 crore in Q4 FY24 over Q4 FY23.
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