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Execution risk in capacity ramp-up
View Risks →Azad Engineering Limited — Q2 FY26
Azad Engineering delivered a record Q2 FY26 with revenue of ₹142.67 crore (+28.1% YoY) and PAT of ₹33 crore (+57% YoY), driven by robust order inflows and operational efficiencies from domestic sourcing.
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Azad Engineering delivered a record Q2 FY26 with revenue of ₹142.67 crore (+28.1% YoY) and PAT of ₹33 crore (+57% YoY), driven by robust order inflows and operational efficiencies from domestic sourcing. EBITDA margin improved to 36.02% as raw material costs declined. The company signed a phase-2 contract with Mitsubishi (total value ₹1,387 crore) and an MoU with Safran for defense engine components. Management reiterated 25-30% topline growth guidance for FY26, with H1 already at ₹277 crore. New dedicated facilities are ramping up, but stabilization remains a near-term focus. Key risk: execution delays in commissioning 10x capacity expansion could pressure margins and growth timelines.
अज़ाद इंजीनियरिंग ने दूसरी तिमाही में शानदार प्रदर्शन किया। कंपनी की कमाई 142.67 करोड़ रुपये रही, जो पिछले साल से 28.1% ज्यादा है। मुनाफा 33 करोड़ रुपये हुआ, जो 57% बढ़ा। इसकी वजह ज्यादा ऑर्डर और कम कच्चे माल की लागत है। कंपनी का मुनाफा मार्जिन 36.02% हो गया। उन्होंने मित्सुबिशी के साथ 1,387 करोड़ रुपये का नया ठेका और सफ्रान के साथ रक्षा इंजन के पुर्जों के लिए समझौता किया। कंपनी को उम्मीद है कि इस साल उनकी कमाई 25-30% बढ़ेगी। पहली छमाही में ही 277 करोड़ रुपये की कमाई हो चुकी है। नई फैक्ट्रियां चालू हो रही हैं, लेकिन उन्हें पूरी तरह चलने में थोड़ा समय लगेगा। खतरा यह है कि अगर क्षमता बढ़ाने में देरी हुई तो मुनाफा और विकास प्रभावित हो सकता है।
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Read Transcript →Quarter Snapshot
Energy & Oil & Gas Segment Revenue (Q2)
₹117 crore
+81.5% YoY (H1)
Contributed 81% of total revenue; driven by strong order book from Mitsubishi and Siemens.
Aerospace & Defense Segment Revenue (Q2)
₹24 crore
+34% YoY
Contributed 16.9% of revenue; growth supported by new MoU with Safran and existing contracts.
Mitsubishi Contract Value (Phase 2)
₹1,387 crore
New contract
Combined contract value with MHI; 5-year duration, reflecting deepening partnership.
Export Share of Revenue
93.9%
Stable
Natural hedge against forex fluctuations; long-term contracts with global OEMs.
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Guidance and risk preview
Management reiterated guidance for 25-30% revenue growth for FY26, with H1 already at ₹277 crore (32.1% YoY).
Management acknowledged that stabilizing 10x capacity expansion is a 'marathon task' and may delay revenue inflection to FY27.
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