Azad Engineering has signed a long term (6-year) supply agreement with GE Vernova International LLC, USA for the supply of highly engineered, complex rotating and stationary airfoils for advanced gas turbine engines to meet their global demand in the power generation industry. This current phase of the contract is valued at - USD ($) 112 Million (Rs 960 crore). Powered by Capital Market - Live News

Azad Engineering will hold a meeting of the Board of Directors of the Company on 3 January 2025.Powered by Capital Market - Live News

Azad Engineering has signed a supply agreement with Arabelle Solutions France, a French Company, for the supply of critical and highly complex rotating and stationary components to meet the global demand in the nuclear power generation industry. The value of this supply agreement, for its entire term, is valued at - USD ($) 40 million (Rs 340 crore). This supply agreement has initiated a strategic collaboration with Arabelle Solutions France.Powered by Capital Market - Live News

Net profit of Azad Engineering rose 8.13% to Rs 21.01 crore in the quarter ended September 2024 as against Rs 19.43 crore during the previous quarter ended September 2023. Sales rose 34.65% to Rs 111.54 crore in the quarter ended September 2024 as against Rs 82.84 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales111.5482.84 35 OPM %35.7431.70 - PBDT36.5225.16 45 PBT29.7520.09 48 NP21.0119.43 8 Powered by Capital Market - Live News

Azad Engineering has entered into a non-binding memorandum of understanding (MoU) with Baker Hughes Saudi Arabia (Baker Hughes) on 24 October 2024. The parties have entered into the MoU to enable discussions regarding the potential for an arrangement between the Company and Baker Hughes, KSA to, amongst other things, enable the Company to set up a facility to manufacture and supply of precision components, sub-assemblies, assemblies, to cater the requirements within the kingdom of Saudi Arabia. Subject to mutual understanding between the parties, the terms of the arrangement will be detailed in the definitive agreement(s) which may be executed between the parties in this regard. The MoU got exchanged between Azad Engineering and Baker Hughes in the presence of His Royal Highness Prince Abdulaziz bin SalmanAl Saud, Minister of Energy, and in the presence of distinguished officials and committee members of local content forum at Riyadh, Saudi Arabia. Powered by Capital Market - Live News