Azad Engineering Ltd: History, Latest Updates, Milestones, Subsidiaries and Share Price
INTRODUCTION
Founded in 2008 by Mr. Rakesh Chopdar, Azad Engineering Ltd. is a global precision manufacturing company specialising in complex, mission- and life-critical components for the Energy, Aerospace, Defence, and Oil & Gas sectors. With over 17 years of operational experience, the company serves as a Tier 1 supplier to leading global OEMs across multiple countries, supported by advanced technology and modern manufacturing infrastructure.
The Azad share price is closely tracked by investors due to the company’s presence in high-growth sectors and expanding engineering capabilities. Investors can monitor the stock and market developments through the largest stock broker in India while evaluating the company’s financial and growth prospects.
Azad Engineering Ltd Moves in 2026
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Azad Engineering inaugurated a 7,600 sq. m. next-generation lean manufacturing facility at its Centre of Excellence in Tunikibollaram, Hyderabad, to support its growing commitments to global energy technology company Baker Hughes.
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The company signed an eight-year Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries, Japan, becoming a single-source supplier for highly engineered hot-section nozzle vane segments used in gas turbine engines.
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These developments strengthen Azad Engineering’s manufacturing capabilities and global customer partnerships, supporting its expansion across the energy and precision engineering sectors.
Evolution of Azad Engineering Ltd: From Past to Present
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Azad Engineering’s journey began in 2008 when founder Rakesh Chopdar established a small manufacturing unit in Hyderabad. The company started with modest operations and gradually developed expertise in precision engineering and specialised manufacturing.
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In 2014, Azad Engineering expanded its operations by moving to a 20,000 sq. metre facility in Jeedimetla. This expansion helped the company scale production of highly engineered components for the aerospace and energy sectors and strengthen its manufacturing capabilities.
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The company continued expanding its global presence and product portfolio, developing mission-critical components for aerospace and energy applications. In 2023, Azad Engineering reported a turnover of Rs. 350 crore and completed its IPO, marking an important milestone in its growth journey.
|
Name |
Azad Engineering Ltd |
|
Founded year |
2008 – Founded; roots dating back to 1983 |
|
Headquarters |
Hyderabad, Telangana, India |
|
Sector |
Engineering - Industrial Equipments |
|
Founder and chairman |
Rakesh Chopdar |
|
Major subsidiaries |
Azad VTC Private Limited Azad Prime Private Limited |
|
Market Cap |
Rs. 16,022.08 Cr. |
|
Geographical presence |
Global |
|
Nse code |
AZAD |
|
Bse code |
544061 |
Timeline of Azad Engineering Ltd
|
Year |
Milestone |
Description |
|
1983 |
Company Incorporated |
Azad Engineering was incorporated on September 14, 1983. |
|
2008 |
CNC Manufacturing Begins |
Established a CNC machine shop and received an order for moving airfoils/blades from a government-owned power equipment manufacturer. |
|
2012 |
Manufacturing Expansion |
Built an in-house forge shop and heat treatment facility to strengthen production capabilities. |
|
2014 |
Facility Expansion |
Moved to a new facility to support growing demand from existing and new customers. |
|
2017 |
Mitsubishi Manufacturing Bay |
Inaugurated an exclusive manufacturing bay for Mitsubishi Hitachi Power Systems to produce critical gas and thermal turbine components. |
|
2019–21 |
Aerospace Expansion |
Entered long-term contracts with Honeywell and GE Aviation for aerospace products and expanded specialised process capabilities. |
|
2021 |
Phase 1 Expansion |
Acquired 23.45 acres of land for a new plant and raised ?600 million to support growth. |
|
2022 |
Phase 2 Expansion |
Raised ?2,173 million and acquired additional land to support future capacity expansion. |
|
2023 |
IPO & Listing |
Completed its IPO and listed its shares on the BSE and NSE in December 2023. |
Inside Azad Engineering Ltd: Exploring Subsidiary Ventures
Corporate action: Azad Engineering Ltd. has not announced any dividend payouts since January 2000.
Main News:
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April 2026: Azad Engineering strengthened its Hyderabad manufacturing ecosystem with a new lean facility, reflecting its focus on advanced production capabilities and meeting the requirements of global energy-sector customers.
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March 2026: The company expanded its relationship with Mitsubishi Heavy Industries through a long-term supply arrangement, reinforcing its position as a strategic precision-engineering partner for the global gas turbine industry.
Azad Engineering Share Price NSE:
|
Company name |
Sector |
Share price |
|
Azad Engineering Ltd |
Engineering - Industrial Equipments |
Investors tracking the azad share price can analyse the stock and monitor market developments through a free demat account with no annual charges, subject to the applicable account terms and charges.
Financial Snapshot & Investor Analysis
As of August 7, 2026, Azad Engineering Ltd. has a market capitalisation of ?16,022.08 crore and promoter holding of 55.84%. The company recorded sales growth of 32.91% and profit growth of 51.12%, indicating strong improvement in its financial performance.
The company trades at a P/E of 121.23 and P/B of 10.32, with an EPS of ?20.46 and book value of ?240.31 per share. With cash of ?695.92 crore against debt of ?238.34 crore, the company maintains a relatively strong balance sheet. Its ROE stands at 8.58%, while ROCE is 12.31%. Investors tracking the azad engineering ltd share price can consider these financial indicators when assessing the company's valuation and performance.
Industry Comparison: How Azad Engineering Ltd Stacks Up Against Peers
|
Company |
MCAP (Rs. Cr.) |
P/B |
P/E |
EPS (Rs.) |
ROE (%) |
ROCE (%) |
P/S |
EV/EBITDA |
|
42,888.80 |
18.73 |
106.29 |
8.16 |
23.2 |
21.84 |
15.34 |
48.6 |
|
|
31,457.03 |
9.14 |
71.72 |
30.14 |
14 |
18.43 |
5.57 |
39.73 |
|
|
20,232.43 |
16.44 |
60.09 |
10.59 |
41.73 |
55.41 |
11.27 |
40.63 |
|
|
17,836.79 |
7.27 |
45.59 |
17.2 |
16.22 |
21.09 |
11.04 |
29.73 |
|
|
17,741.54 |
14.97 |
71.43 |
27.36 |
24.94 |
32.27 |
11.39 |
47.57 |
|
|
16,074.40 |
10.36 |
121.63 |
20.46 |
8.58 |
12.31 |
35.49 |
61.89 |
Among the peer companies, INDO-MIM leads in market capitalisation at Rs. 42,888.80 crore, whereas Triveni Turbine stands out for profitability, posting a ROE of 41.73% and ROCE of 55.41%.Azad Engineering Ltd. trades at the highest P/E of 121.63 and EV/EBITDA of 61.89 among the companies compared, indicating a premium valuation relative to its peers.
With a market capitalisation of Rs. 16,074.40 crore, Azad Engineering Ltd. has a P/B of 10.36 and EPS of Rs. 20.46. Its ROE of 8.58% and ROCE of 12.31% are lower than those of the selected peers. Investors tracking the azad share price should consider valuation, profitability, capital efficiency, and growth prospects alongside industry peers before making investment decisions.
Achievements & Milestone
Azad Engineering Ltd. has received several recognitions from leading global customers and industry organisations for its manufacturing capabilities, quality, reliability, and operational excellence. Its achievements include a Strategic Partner Award from Siemens Energy for manufacturing super-critical gas and steam components, along with a Certificate of Appreciation from Mitsubishi Heavy Industries for producing more than US$10 million worth of turbine compressor blades and steam engine turbine blades in FY2022.
The company has also been recognised by Godrej Aerospace for manufacturing excellence and received the 2024 Partner of the Year award from Mitsubishi Heavy Industries. Other notable recognitions include a Certificate of Appreciation from Tata Lockheed Martin Aerostructures for “Industrialising the Fighter Wing,” a Star Performer – Large Enterprise award from the Engineering Export Promotion Council India, and awards for Lean and Digital Excellence and Operational Excellence from General Electric. These recognitions highlight Azad Engineering’s capabilities in precision manufacturing and its long-standing relationships with major global industrial and aerospace companies.
Conclusion
Azad Engineering Ltd. has evolved into a specialised precision engineering company with a growing presence across the aerospace, defence, energy, and oil & gas sectors. Its expanding manufacturing capabilities, long-term partnerships with global OEMs, and recent strategic developments remain key factors for investors tracking the azad share price. However, the company’s premium valuation compared with several peers and relatively lower ROE and ROCE warrant careful evaluation. Investors should consider financial performance, order visibility, business expansion, and broader market conditions rather than relying solely on an azad engineering share price target. A suitable money investment app can help investors track market movements and analyse relevant company information before making investment decisions.
Frequently Asked Questions
Where can I find real-time updates on the azad share price ?
Check the latest azad share price and live stock updates on Enrich Money’s stock here.
What have been the highest and lowest azad share price in the past 52 weeks?
The azad share price recorded a 52-week high of Rs. 2,530 and The 52-week low of the azad share price stands at approximately Rs. 1,358.70.
Does Azad Engineering Ltd. pay dividends?
No. Azad Engineering Ltd. currently has a 0% dividend yield and has not declared dividends based on the information provided.
What is the face value and book value per share of Azad Engineering?
The company’s shares carry a face value of Rs. 2, with a book value of Rs. 240.31 per share.
How much debt does Azad Engineering Ltd. have?
Azad Engineering Ltd. has total debt of approximately Rs. 238.34 crore.
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