Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Azad Engineering Ltd
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 85 | 76 | 83 | 89 | 93 | 98 | 111 | 119 | 125 | 135 | 143 | 156 | 157 |
| Expenses + | 54 | 50 | 57 | 56 | 61 | 65 | 72 | 76 | 79 | 86 | 91 | 96 | 100 |
| Operating Profit | 30 | 26 | 26 | 33 | 31 | 33 | 40 | 43 | 45 | 49 | 51 | 60 | 58 |
| OPM % | 36% | 35% | 32% | 37% | 34% | 34% | 36% | 36% | 36% | 36% | 36% | 39% | 37% |
| Other Income + | 5 | 0 | 11 | 18 | 3 | 1 | 2 | 5 | 4 | 9 | 13 | 9 | 17 |
| Interest | 11 | 10 | 12 | 19 | 6 | 3 | 5 | 6 | 4 | 6 | 6 | 8 | 10 |
| Depreciation | 4 | 5 | 5 | 5 | 5 | 6 | 7 | 7 | 9 | 10 | 11 | 14 | 16 |
| Profit before tax | 20 | 11 | 20 | 27 | 23 | 24 | 30 | 35 | 37 | 42 | 47 | 47 | 49 |
| Tax % | 26% | 35% | 3% | 37% | 34% | 30% | 30% | 30% | 29% | 29% | 30% | 28% | 29% |
| Net Profit + | 15 | 7 | 19 | 17 | 15 | 17 | 21 | 24 | 26 | 30 | 33 | 34 | 35 |
| EPS in Rs | 89.96 | 44.80 | 3.92 | 2.84 | 2.53 | 2.90 | 3.56 | 4.11 | 4.03 | 4.64 | 5.11 | 5.27 | 5.44 |
Financials of Azad Engineering Ltd
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 122 | 121 | 194 | 252 | 341 | 453 | 590 |
| Expenses + | 81 | 92 | 132 | 179 | 224 | 292 | 373 |
| Operating Profit | 41 | 29 | 62 | 72 | 117 | 161 | 218 |
| OPM % | 34% | 24% | 32% | 29% | 34% | 36% | 37% |
| Other Income + | 1 | 4 | 3 | 10 | 32 | 12 | 48 |
| Interest | 6 | 5 | 14 | 52 | 47 | 18 | 30 |
| Depreciation | 7 | 9 | 13 | 17 | 21 | 29 | 50 |
| Profit before tax | 30 | 19 | 39 | 13 | 81 | 126 | 185 |
| Tax % | 29% | 29% | 28% | 36% | 27% | 30% | 29% |
| Net Profit + | 21 | 14 | 28 | 9 | 59 | 89 | 132 |
| EPS in Rs | 139.44 | 89.28 | 185.04 | 51.52 | 9.91 | 13.71 | 20.46 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Azad Engineering Ltd
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 12 | 13 | 13 |
| Reserves | 85 | 91 | 118 | 202 | 633 | 1,405 | 1,539 |
| Borrowings + | 61 | 87 | 197 | 300 | 39 | 252 | 464 |
| Other Liabilities + | 49 | 77 | 87 | 85 | 113 | 185 | 179 |
| Total Liabilities | 198 | 257 | 404 | 589 | 797 | 1,855 | 2,195 |
| Fixed Assets + | 101 | 114 | 137 | 210 | 257 | 414 | 756 |
| CWIP | 0 | 0 | 24 | 38 | 45 | 80 | 257 |
| Investments | 7 | 6 | 6 | 6 | 0 | 0 | 0 |
| Other Assets + | 90 | 136 | 237 | 335 | 494 | 1,361 | 1,182 |
| Total Assets | 198 | 257 | 404 | 589 | 797 | 1,855 | 2,195 |
Financials of Azad Engineering Ltd
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 37 | 34 | 21 | -10 | -7 | 63 | -123 |
| Cash from Investing Activity + | -28 | -29 | -114 | -101 | -55 | -923 | -70 |
| Cash from Financing Activity + | -7 | 7 | 96 | 126 | 71 | 873 | 177 |
| Net Cash Flow | 1 | 12 | 3 | 15 | 9 | 12 | -17 |
| Free Cash Flow | 8 | 12 | -96 | -94 | -78 | -212 | -694 |
| CFO/OP | 106% | 133% | 41% | -1% | 7% | 50% | -34% |
Financials of Azad Engineering Ltd
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 122 | 159 | 140 | 172 | 182 | 179 | 191 |
| Inventory Days | 489 | 910 | 1,009 | 1,042 | 1,055 | 1,097 | 2,090 |
| Days Payable | 851 | 977 | 748 | 599 | 396 | 460 | 552 |
| Cash Conversion Cycle | -240 | 92 | 401 | 615 | 841 | 816 | 1,729 |
| Working Capital Days | 12 | -7 | 4 | 120 | 283 | 218 | 310 |
| ROCE % | 15% | 21% | 16% | 20% | 12% | 12% |