Azad Engineering Ltd
Azad Engineering Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Azad Engineering expects a 25%+ annual revenue growth over the next several years, supported by a robust order book of around INR 6,500 crores with delivery schedules over 5-6 years. Azad Engineering expects a sustained top-line growth of 25%+ annually over multiple years, driven by ramp-up of newly commissioned plants and expanding customer wallet share.
From Azad Engineering Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Azad Engineering expects a 25%+ annual revenue growth over the next several years, supported by a robust order book of around INR 6,500 crores with delivery schedules over 5-6 years.
- The company is ramping up 8 dedicated OEM plants, with 4 already commissioned and 4 more to be completed in FY '27, which will drive volume growth.
- Increased capacity and stabilization of new plants will convert elevated inventory investment into revenues, improving asset turns and cash flow from FY '27 onwards.
- Growth levers include ramp-up of qualified parts, addition of adjacent product categories, and onboarding new customers leveraging horizontally developed capabilities.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Azad Engineering Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- FY '26 capex: INR 392 crores capitalized assets; incremental term funding of INR 154 crores utilized.
- FY '27 planned capex: Around INR 180 crores to be deployed, mainly linked to QIP proceeds raised (INR 700 crores).
- Focus this year: Complete commissioning of current and balance plants (total 8 dedicated lean manufacturing facilities; 4 completed, 4 to be completed in FY '27).
- Third expansion plan: 85,000 square meter plant civil work to start after current plants are fully ramped up.
- Strategic investment: Inaugurated dedicated facility for Baker Hughes in Saudi Arabia; capex plans on track but timelines shifted due to geopolitical events.
2 more points management made on capital expenditure plans
Top-ranked in Electrical Equipment
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Azad Engineering Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Azad Engineering's rolling order book stands at approximately INR 6,500 crores net of deliveries in FY '26 (Page 17).
- The order book is described as INR 6,500 crores plus, reflecting some contracts with undisclosed values (Page 17).
- Contracts typically have delivery schedules extending over 5 to 6 years (Page 17).
- The order book represents about 11x to 12x of FY '26 revenue, providing strong forward visibility (Page 6).
- Around INR 600 crores of the order book were delivered in FY '26 (Page 6).
- Orders are diversified across multiple segments with notable contracts from GE, Siemens, Mitsubishi, Baker Hughes (Page 6-17).
2 more points management made on order book & pipeline
Azad Engineering Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹157 Cr, net profit ₹35 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Azad Engineering's management said in earlier quarters
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Frequently Asked Questions
What were Azad Engineering Ltd Q4 FY26 results?
Azad Engineering expects a 25%+ annual revenue growth over the next several years, supported by a robust order book of around INR 6,500 crores with delivery schedules over 5-6 years. Azad Engineering expects a sustained top-line growth of 25%+ annually over multiple years, driven by ramp-up of newly commissioned plants and expanding customer wallet share.
What is Azad Engineering Ltd share price analysis?
Azad Engineering Ltd currently shows a neutral. The stock trades at a P/E of 118.9 with a market cap of ₹15,802 Cr. Investors should review the full earnings analysis for detailed insights.
Is Azad Engineering Ltd planning capital expenditure?
FY '26 capex: INR 392 crores capitalized assets; incremental term funding of INR 154 crores utilized.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.