Azad Engineering Limited
₹2,444.65-₹89.95 (-3.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹10,099 Cr
- P/E
- 89.1x
- EV / EBITDA
- 67.4x
- Revenue
- ₹453 Cr
- Net margin
- 17.3%
- ROCE
- 17.1%
Price chart
Technical chartScreen technicals →+43.9% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -17.5%
- 3M
- +8.2%
- 6M
- +12.7%
- 1Y
- +43.9%
- 5Y
- +253.1%
52-week range
Day change -₹89.95 (-3.5%) from ₹2,535 to ₹2,445 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in AZAD, bought on each weekday since 2024.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 22.8%
Concerns1
- Low return on equity of 9.1%
Rule-based from financial data. Not advice.
About the company
Azad Engineering Limited manufactures and sells precision-engineered components in India and internationally.
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Azad Engineering Limited manufactures and sells precision-engineered components in India and internationally. The company offers aerospace, including airfoils/blades for aircraft engines and APUs, body valve, housing mount, housing compressor, fan blisk, mixed flow impeller, housing fan, shell and housing, air frames, aero structure, turbine wheel, nozzle, unison ring, lever arm, hydraulic, fuel inerting, flight control, actuating system, and other products, as well as aerospace standard fluid distribution parts. It provides plate butterfly, sealer, shaft, bearing rod, piston, plate, and sealing ring; aft and fore End Skirt, BB2KP Base, B1 Igniter Body1, and B1 Igniter Body-2; last stage airfoil/blade rotary and welding chamfers and last stage airfoil/ blade stationary components for use in nuclear power turbine solution; and fixed, moving, and stage airfoil/blade rotating for thermal power turbines. In addition, the company offers aerospace actuator systems, such as covers, actuators, housings, guides, poppets, nipples, adapters, tees, elbows; and slips, drill bits, hatch covers, frames, and bonnets for oil and gas up and mid-stream sub-systems. The company also offers 3D rotating airfoil portions of turbine engines and other key products for combustion, hydraulics, flight control, propulsion and actuation which power defence and civil aircraft, spaceships, defence missiles, nuclear power, hydrogen, gas power, oil and thermal power. It serves the aerospace, defense, energy, and oil and gas industries. The company was incorporated in 1983 and is based in Hyderabad, India.
- Sector
- Industrials
- Shares outstanding
- 6.5 Cr shares
- ISIN
- INE02IJ01035
- BSE code
- 544061
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹10,099 Cr
- P/E
- 89.1x
- P/B
- 6.8x
- EV / EBITDA
- 67.4x
- EV / Sales
- 29.4x
- P/S
- 29.6x
- Earnings yield
- 1.1%
- 52-week high
- ₹3,060.70
- 52-week low
- ₹1,368.80
Profitability
- Operating margin
- 34.3%
- Net margin
- 17.3%
- EBITDA margin
- 43.7%
- ROE
- 9.1%
- ROCE
- 17.1%
- ROA
- 7.4%
- Dividend payout
- 0.0%
- Tax rate
- 27.0%
- Other income, % of PBT
- 39.5%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹453 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 32.8%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 22.8%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹149 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 81.7%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 50.8%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 22.9%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹7.00 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -30.0%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹12.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 35.3%
Solvency and efficiency
- Current ratio
- 4.37
- Debt / Equity
- 0.06
- Debt / Assets
- 0.05
- Debt / EBITDA
- 0.26
- Interest coverage
- 2.49
- Financial leverage
- 1.24
- CFO / Net profit
- -0.12
- Cash / Market cap
- 4.9%
- Cash per share
- ₹76.50
- Asset turnover
- 0.43
- Fixed asset turnover
- 1.33
- Capital intensity
- 0.75
- Debtor days
- 182 days
- Inventory turnover
- 0.35
- Cash conversion cycle
- 841 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹20 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹292 Cr |
| Sales | Operating profit | ₹161 Cr |
| Operating profit | Interest | ₹18 Cr |
| Operating profit | Depreciation | ₹29 Cr |
| Operating profit | Profit before tax | ₹114 Cr |
| Other income | Profit before tax | ₹12 Cr |
| Profit before tax | Tax and other | ₹37 Cr |
| Profit before tax | Net profit | ₹89 Cr |
Revenue and net profit
Revenue grew 32.8% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹121 Cr | ₹14 Cr |
| FY2022 | ₹194 Cr | ₹28 Cr |
| FY2023 | ₹252 Cr | ₹9 Cr |
| FY2024 | ₹341 Cr | ₹59 Cr |
| FY2025 | ₹453 Cr | ₹89 Cr |
Cash flows
FY2025: ₹63.0 Cr from operations, -₹860 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹34 Cr | ₹5 Cr |
| FY2022 | ₹21 Cr | -₹93 Cr |
| FY2023 | -₹10 Cr | -₹111 Cr |
| FY2024 | -₹7 Cr | -₹62 Cr |
| FY2025 | ₹63 Cr | -₹860 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹453 Cr+32.8%1Y
- Net profit
- ₹89 Cr+50.8%1Y
- Cash from operations
- ₹63 Cr
- Free cash flow
- -₹860 Cr
- Revenue CAGR, 5Y
- 22.8%
- EBITDA CAGR, 5Y
- 28.8%
- Net profit CAGR, 5Y
- 22.9%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹453 Cr | ₹161 Cr | — | ₹89 Cr | ₹63 Cr | -₹860 Cr | 6.3% | +32.8% | +50.8% |
Monthly returns
Month-by-month returns of AZAD across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,855 Cr |
| Equity capital | ₹13 Cr |
| Reserves | ₹1,405 Cr |
| Borrowings | ₹252 Cr |
| Other liabilities | ₹185 Cr |
| Assets | ₹1,855 Cr |
| Fixed assets | ₹414 Cr |
| Capital work in progress | ₹80 Cr |
| Investments | ₹0 Cr |
| Other assets | ₹1,361 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
AZAD trades at 89.1x earnings against a peer median of 38.3x (a 133% premium).
Not shown (no positive earnings and no EV / Sales): SWAN DEFENCE AND HEAVY INDUSTRIES LIMITED.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Azad Engineering LimitedAZADthis companyP/E ↑ premium | ₹10,099 Cr | 89.1x | 6.8x | 9.1% | 67.4x |
| HEG Ltd.HEG | ₹10,620 Cr | 44.4x | 2.5x | 5.6% | 20.4x |
| Action Construction Equipments Ltd.ACE | ₹10,558 Cr | 24.8x | 5.9x | 26.9% | 21.6x |
| Happy Forgings LimitedHAPPYFORGE | ₹10,400 Cr | 38.3x | 5.3x | 15.1% | 25.8x |
| Jindal Saw Ltd.JINDALSAW | ₹10,321 Cr | 7.4x | 0.8x | 15.8% | 3.8x |
| INOX India LimitedINOXINDIA | ₹10,163 Cr | 43.3x | 10.1x | 27.5% | 37.5x |
| Ingersoll-Rand (India) Ltd.INGERRAND | ₹10,116 Cr | 38.2x | 15.5x | 38.2% | 31.4x |
| Shaily Engineering Plastics Ltd.SHAILY | ₹9,981 Cr | 80.1x | 17.7x | 8.4% | 99.4x |
| SWAN DEFENCE AND HEAVY INDUSTRIES LIMITEDSWANDEF | ₹9,696 Cr | — | 40.4x | -25.5% | -430.0x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
AZAD since 1 January, against earlier years.
Historical volatility
AZAD's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 24.0% |
| FY2022 | 32.0% |
| FY2023 | 29.0% |
| FY2024 | 34.0% |
| FY2025 | 36.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹453 Cr |
| Costs | |
| Interest | ₹18 Cr |
| Expenses | ₹292 Cr |
| Operating profitOperating Profit | ₹161 Cr |
| Other income and charges | |
| Profit before tax | ₹126 Cr |
| Tax | |
| Net profitNet Profit | ₹89 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,855 Cr |
| Equity capitalEquity Capital | ₹13 Cr |
| Reserves | ₹1,405 Cr |
| Borrowings | ₹252 Cr |
| Other liabilitiesOther Liabilities | ₹185 Cr |
| AssetsTotal Assets | ₹1,855 Cr |
| Fixed assetsFixed Assets | ₹414 Cr |
| Capital work in progressCWIP | ₹80 Cr |
| Investments | ₹0 Cr |
| Other assetsOther Assets | ₹1,361 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹63 Cr |
| Investing cash flowCash from Investing Activity | -₹923 Cr |
| Financing cash flowCash from Financing Activity | ₹873 Cr |
| Change in cashNet Cash Flow | ₹12 Cr |
Learn while you research
Academy chapters picked for Azad Engineering Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 89.1, learn when high multiples are justified.6 min read
- 04 Growth Investing33% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read