Azad Engineering share price caught traders’ attention in the stock market today, rallying 4.5% to ₹1,626 per share after the company announced a major contract win.
Market Performance
- Current Price: ₹1,626
- Intraday Move: +4.5%
- September Gain So Far: 3.73%
- August Performance: Nearly 4% rise
- YTD Change: Down 7.81%
- Distance From All-Time High (₹2,080): 24% below peak
Despite recent consolidation, today’s move signals renewed momentum.
Main News: ₹651 Crore Contract With Mitsubishi Heavy Industries
Azad Engineering has signed a ₹651 crore long-term contract and price agreement with Mitsubishi Heavy Industries (MHI) of Japan.
The contract covers the supply of:
- Rotating airfoils
- Stationary airfoils
These components will be used in advanced gas and thermal power turbine engines serving MHI’s global power generation requirements.
This agreement is labelled as Phase 2, following an earlier deal signed on November 3, 2024. With this addition, total contracts with MHI now stand at ₹1,387 crore.
Company Background & Order Book Strength
Azad Engineering is known for manufacturing high-precision aerospace components and turbine parts.
- Order Book (as of June quarter): ₹6,000 crore
- Nature of Orders: Multi-year, providing revenue visibility
Summary
Azad Engineering share price reacted positively after sealing a ₹651 crore contract with Mitsubishi Heavy Industries, expanding its strategic partnership to a total value of ₹1,387 crore. With a ₹6,000 crore order pipeline, the company continues to secure large-scale global mandates, helping it retain relevance in the aerospace and power equipment manufacturing space.
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