Azad Engineering Ltd — earnings calls

Azad Engineering reported Q1 FY27 standalone revenue growth of 26.8% year-on-year to Rs 170.5 crores, with EBITDA up 32.1% to Rs 64 crores and EBITDA margin expanding to 37.6%. Management said it delivered India's first indigenous expendable turbojet engine to GTRE, DRDO and the Ministry of Defense, describing it as a shift from component manufacturing to integrated propulsion systems. Management reiterated long-term annual revenue growth guidance of over 25% and said infrastructure at the Tuniki Bollaram Industrial Park, including a new facility for Baker Hughes, is progressing with more substantive revenue contributions expected from the second half of the fiscal year.

Azad Engineering reported Q4 FY26 revenue of INR157 crores, up 26.4% year-on-year, with EBITDA margin at 36.7% and PAT margin at 22.3%. For the full year, revenue reached INR590 crores versus INR453 crores in FY25, with EBITDA margin at 36.9% and PAT margin at 22.4%. Management discussed the commissioning of new dedicated facilities for global OEMs including Baker Hughes and a new single-source contract with Mitsubishi Heavy Industries for hot section nozzle vane components.