Azad Engineering surpasses expectations in FY26, recording a 30% increase in revenue to reach INR 590 crore, boosted by new contracts with Mitsubishi Heavy Industries and Baker Hughes. The company's EBITDA margin stood firm at 36.9%, while PAT margin expanded to 22.4%. With an order book of INR 6,500 crore, Azad Engineering anticipates a growth of more than 25% for FY27.

Azad Engineering intends to reduce inventory days to around 200 in the first half and 160-170 in the second half of fiscal year 27, aiming for EBITDA margins between 33-35%. The company anticipates enhancing these figures over time.

Goldman Sachs maintains its optimistic stance towards Azad Engineering, setting a target price of INR 2,460 and advising investors to consider buying the company's shares.

Azad Engineering is planning to invest between ₹180-190 crore in capital expenditure for the upcoming fiscal year (FY'27). This strategic move will see the company expanding its operations into aerospace and defense, marking a shift from its traditional focus on the energy sector. The company reported INR 392 crore in capitalized assets for FY'26.

Goldman Sachs has increased its target price for Azad Engineering to ₹2,460 due to a robust order book, indicating continued optimism driven by favorable market conditions and the strong demand for their engine components, particularly ATGG engines.

Azad Engineering reported a significant 26% increase in Q4 EBITDA, reaching ₹577 million. The company's profit margins also edged up slightly to 36.7%, demonstrating improved efficiency compared to the previous year.

Azad Engineering will present their audited financial results on May 15, 2026. The trading window is currently closed, reopening only after the results have been announced, which will be on May 17, 2026.

Azad Engineering has extended its contract with Baker Hughes' subsidiary, Nuovo Pignone, to provide turbomachinery components for power generation, lasting till the end of 2030 on BSE.