Azad Engineering share price
NSE: AZADBSE: 544061Electrical EquipmentSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹2,577.50.
28 Oct: open ₹2,578.00, high ₹2,613.90, low ₹2,564.00
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹16,645 Cr511th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 119.76
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 10.89
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 9.5%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 9.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.30
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,08,86930.8% delivered
About Azad Engineering
Azad Engineering Limited makes highly engineered, mission- and life-critical components for engines used in energy, oil and gas, and aerospace and defence. Its customers are global equipment makers, including GE Vernova, Mitsubishi Heavy Industries, Siemens Energy, Baker Hughes, Rolls-Royce and Pratt & Whitney Canada. It supplies customers in 11 or more countries, among them the United States, Japan, France and Germany.
The company reports two segments: Aerospace & Defence, and Energy and Oil & Gas. In energy, it supplies compressor 3D airfoils and specialised machine components for gas turbines, and it is one of the few qualified manufacturers of nuclear turbine airfoils in India. In aerospace and defence, its work is divided into aero systems and aero engines. In oil and gas, it makes parts such as drill bits and bonnet frames. A subsidiary, Azad VTC Private Limited, earned Nadcap accreditation for coatings and heat treatment. The company has two subsidiaries in all.
The manufacturing footprint is concentrated in and around Hyderabad, Telangana, where the company is headquartered. It runs dedicated factories for GE Vernova, Siemens Energy, Mitsubishi Heavy Industries and Baker Hughes. A workforce of more than 2,500 operates in Telangana. Working with the Gas Turbine Research Establishment of DRDO, it manufactured and assembled India's first indigenous expendable turbojet engine in the 350 kg thrust class, delivered in July 2026.
It was incorporated in 1983. Operations began in 2008, on a 200 sq. m shop floor with one machine operated by its Founder-Chairman, Rakesh Chopdar. He is the chairman and chief executive officer, and the promoter of the company. A promoter is the person or group that set up a company or controls it.
Written from the annual report for the year to Mar 2026, filed 7 Sep 2026 and the investor presentation.
Sources for 30 statements, each with its page
- The company makes highly engineered, mission- and life-critical components for engines in energy, oil and gas, and aerospace and defence. Annual report, page 9
- Customers include GE Vernova and Mitsubishi Heavy Industries. Annual report, page 9
- Customers include Siemens Energy and Baker Hughes. Annual report, page 9
- Customers include Rolls-Royce and Pratt & Whitney Canada. Annual report, page 9
- It supplies customers in 11 or more countries. Annual report, page 9
- Countries include the United States and Japan. Annual report, page 11
- Countries include France and Germany. Annual report, page 11
- It reports two segments: Aerospace & Defence, and Energy and Oil & Gas. Annual report, page 17
- In energy it supplies compressor 3D airfoils and specialised machine components. Annual report, page 20
- It is one of the few qualified manufacturers of nuclear turbine airfoils in India. Annual report, page 9
- Aerospace and defence work is divided into aero systems and aero engines. Annual report, page 22
- Oil and gas products include drill bits and bonnet frames. Annual report, page 23
- Subsidiary Azad VTC Private Limited earned Nadcap accreditation for coatings. Annual report, page 22
- The subsidiary also earned Nadcap accreditation for heat treatment. Annual report, page 22
- The company has two subsidiaries. Annual report, page 39
- Manufacturing is concentrated in and around Hyderabad, Telangana. Annual report, page 11
- The company is headquartered in Hyderabad. Annual report, page 9
- It runs dedicated facilities for GE Vernova, Siemens Energy, Mitsubishi Heavy Industries and Baker Hughes. Annual report, page 6
- The dedicated facilities include Siemens Energy, Mitsubishi Heavy Industries and Baker Hughes. Annual report, page 6
- A workforce of more than 2,500 operates in Telangana. Annual report, page 9
- It manufactured and assembled India's first indigenous expendable turbojet engine in the 350 kg thrust class. Annual report, page 10
- The engine was designed by GTRE, DRDO and delivered in July 2026. Annual report, page 10
- The Gas Turbine Research Establishment is a laboratory under DRDO. Annual report, page 16
- It was incorporated in 1983 (CIN L74210TG1983PLC004132). Annual report, page 82
- Year of incorporation is 1983. Annual report, page 82
- Operations began in 2008 on a 200 sq. m shop floor with one machine. Annual report, page 9
- The machine was operated by the Founder-Chairman. Annual report, page 9
- Operations began in 2008. Annual report, page 17
- Rakesh Chopdar is Chairman and Chief Executive Officer. Annual report, page 8
- The Chairman is the promoter of the company. Annual report, page 59
Results
Consolidated; ₹ crore.Azad Engineering quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +28.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +39.5%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹173 Crup 6.85%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹35 Crdown 4.47%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 20.4%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 112 | 120 | 127 | 137 | 146 | 159 | 162 | 173 |
| Net profit | 21 | 24 | 25 | 29 | 33 | 35 | 37 | 35 |
| Net margin | 18.7% | 19.7% | 19.5% | 21.5% | 22.4% | 21.9% | 22.8% | 20.4% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹603 Crup 31.84%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹134 Crup 54.35%
- Net margin
- 22.2%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue | 341 | 457 | 603 |
| Net profit | 59 | 87 | 134 |
| Net margin | 17.2% | 18.9% | 22.2% |
Business segments
In the year to Mar 2026 the company reports one business segment, Manufacturing, which carries all its revenue.
Valuation
Today, against the company's own history. Dividend yield is not shown: no dividend in the years on record.Azad Engineering PE ratio and valuation
At or below today's level on 79% of 247 trading days over the last year.
At or below today's level on 56% of 551 trading days since May 2024.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +9.1% | +52.2% | −28.3% | 0.0% |
Mutual fund holdings
83 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 4 of the 18 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 83 funds holding Azad Engineering
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 42
- AddedAdded. Funds that held more shares than at the end of the month before.
- 3
- CutCut. Funds that held fewer shares than at the end of the month before.
- 15
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 23
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 1
| Fund | |||
|---|---|---|---|
 ICICI Prudential Flexi Cap FundICICI Prudential Mutual Fund | 14,04,694 | 1.66% | ₹416.2 Cr |
 Axis Small Cap FundAxis Mutual Fund | 6,86,848 | 0.66% | ₹203.5 Cr |
| Axis Flexi Cap FundAxis Mutual Fund | 3,41,378 | 0.76% | ₹101.2 Cr |
| ICICI Prudential Balanced Advantage FundICICI Prudential Mutual Fund | 3,33,083 | 0.14% | ₹98.7 Cr |
 Kotak MNC FundKotak Mahindra Mutual Fund | 3,30,000 | 4.35% | ₹97.8 Cr |
 WhiteOak Capital Flexi Cap FundWhiteOak Capital Mutual Fund | 2,55,832 | 0.81% | ₹75.8 Cr |
| Axis Multicap FundAxis Mutual Fund | 2,40,531 | 0.60% | ₹71.3 Cr |
 Union Small Cap FundUnion Mutual Fund | 2,25,000 | 2.44% | ₹66.7 Cr |
 LIC MF Large & Mid Cap FundLIC Mutual Fund | 1,99,132 | 2.00% | ₹59.0 Cr |
| Kotak Special Opportunities FundKotak Mahindra Mutual Fund | 1,80,000 | 2.78% | ₹53.3 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Azad Engineering insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade
- Others: no market trade · 5 pledge filings of unclear kind
Azad Engineering competitors and peers
Heavy Electrical Equipment, 48 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Azad Engineering in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Suzlon EnergySUZLON | 51,274 | 16.31 | 5.42 | +45.2% | +50.2% | 40.4% | 27.4% | 0.00% |
 ThermaxTHERMAX | 37,898 | 63.87 | 6.83 | +4.7% | −11.6% | 11.3% | 8.3% | 0.63% |
 Schneider Electric InfrastructureSCHNEIDER | 27,413 | 149.18 | 35.40 | +9.6% | −29.5% | 27.5% | 24.7% | 0.00% |
 TD Power SystemsTDPOWERSYS | 23,101 | 84.01 | 21.55 | +54.3% | +45.3% | 28.5% | 32.8% | 0.15% |
 Triveni TurbineTRITURBINE | 14,484 | 43.07 | 10.02 | +17.7% | −1.6% | 25.3% | 27.1% | 0.93% |
 Atlanta ElectricalsATLANTAELE | 12,592 | 57.90 | 13.55 | – | – | 23.4% | 34.7% | 0.00% |
 Karamtara EngineeringKARAMTARA | 11,021 | – | – | – | – | – | – | 0.00% |
 Quality Power Electrical EquipmentsQPOWER | 10,538 | 79.05 | 19.44 | – | – | 27.6% | 21.3% | 0.09% |
Latest announcements
Routine notices left out.Azad Engineering announcements
Oct 2026
Sep 2026
30 Sep · Management
30 Sep · Meeting
Azad Engineering share price by year
Each calendar year to 2025.Azad Engineering share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,652.80 | −4.0% | 1,885.45 | 1,196.35 |
| 2024 | 1,722.25 | +148.9% | 1,981.80 | 659.15 |
| 2023 | 692.05 | – | 692.05 | 677.50 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 2,580.00 | 2,647.90 | 2,551.50 | 2,577.50 | 2,602.09 | 4,11,262 | 32.0% |
| 26 Oct 2026 | 2,460.00 | 2,555.00 | 2,414.00 | 2,547.80 | 2,497.14 | 6,14,099 | 33.8% |
| 23 Oct 2026 | 2,551.00 | 2,551.00 | 2,440.00 | 2,478.70 | 2,482.89 | 6,80,290 | 40.0% |
| 22 Oct 2026 | 2,522.80 | 2,599.50 | 2,502.10 | 2,555.80 | 2,554.82 | 5,37,108 | 30.2% |
| 21 Oct 2026 | 2,733.90 | 2,733.90 | 2,522.80 | 2,538.80 | 2,579.44 | 8,11,618 | 39.5% |
| 19 Oct 2026 | 2,741.00 | 2,744.20 | 2,665.30 | 2,685.30 | 2,708.63 | 3,32,566 | 35.7% |
| 16 Oct 2026 | 2,735.00 | 2,832.10 | 2,691.10 | 2,741.00 | 2,768.98 | 7,10,223 | 26.2% |
| 15 Oct 2026 | 2,865.00 | 2,865.50 | 2,718.00 | 2,749.80 | 2,757.17 | 8,23,020 | 36.0% |
| 14 Oct 2026 | 2,985.80 | 2,985.80 | 2,850.10 | 2,871.10 | 2,905.47 | 6,00,467 | 42.3% |
Company details
- NSE symbol
- AZAD
- BSE code
- 544061
- ISIN
- INE02IJ01035
- Industry
- Electrical Equipment
- Website
- www.azad.in
- CIN
- L74210TG1983PLC004132
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1983
- Registered office
- 90/C, 90/D, Phase-1, I.D.A. Jeedimetla, Hyderabad 500055, Telangana
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments