ALFA Finder| Management target | Revenue 25.0% |
|---|
| Revenue growth | Q2 revenue +31.6% YoY to ₹187.8 Cr, +10.1% QoQ; export-led. |
|---|---|
| Margins | EBITDA margin 37.5%, up 150bp YoY; gross margin 45.2% vs 43.7%. |
| Order book | Stated ₹6,500 Cr 'rolling' book; management disclaimed calling it backlog. |
| Demand visibility | Demand called 'intact'; visibility tied to qualified parts and rolling contracts. |
| Management confidence | Over-optimistic; repeated 'definitely', 'hundred percent sure' on unproven qualifications. |
Growth
Revenue +31.6% YoY, +10.1% QoQ; EBITDA +37.1%. Margin gains from operating leverage; new capacity not yet billing fully.
Outlook
Guides >25% long-term growth and ₹1,300 Cr annual run rate by FY28; all plants fully ramped by H1 FY28.
Risks
Negative operating cash flow; ramp depends on delta qualifications; depreciation doubled to ₹21.8 Cr; other income down to ₹4.7 Cr.
Last quarter's promises, checked
Delivered
- Guided >25% growth → Q2 revenue +31.6% YoY (= BEAT)
- Guided EBITDA margin 32–35% → 37.5% (= BEAT)
Partly delivered
- Guided substantive revenue from Q3/H2 FY27 → new capacity not yet billing fully; full ramp now H1 FY28 (= PARTIAL)
- Guided ~₹1,200 Cr from new plants → Q2 revenue ₹187.8 Cr vs ₹1,300 Cr FY28 run-rate target (= PARTIAL)
Missed
- Guided H1 debtor days ~200 and better operating cash flow → H1 operating cash flow –₹45.8 Cr; days not disclosed (= MISS)
- Guided sustained profitability (Q1 PAT +21.2% YoY) → H1 PAT +6.6% (= MISS)
Earnings Call Transcript filed with NSE, NSE: AZAD. Summary written with AI assistance from the document.
Azad Engineering Ltd: key numbers
- Share price
- ₹2,422.70
- Market cap
- ₹15,646 Cr
- Revenue (annual)
- ₹603.0 Cr
- Net profit (annual)
- ₹132.9 Cr
- P/E (TTM)
- 114.1×Sector 50.0×
- Promoter holding
- 55.84%+0.00% QoQ
- FII holding
- 12.70%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Azad Engineering Ltd
All →Azad Engineering Investor Presentation: Key Takeaways
H1FY27 consolidated revenue ₹3,635.3 Mn (+28.6%), EBITDA 37.6% margin, PAT ₹660.9 Mn (+6.5%). Q2 PAT fell 5.2% despite 31.1% revenue growth. Capacity ramp is the thesis.
- Call
- Guides 25% growth
Azad Engineering Q2 FY27 Results: Net Profit ₹30.9 Cr, Down 5.2% YoY
Azad Engineering Ltd reported revenue from operations of ₹190.9 Cr (+31.1% YoY) and net profit of ₹30.9 Cr (-5.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹30.9 Cr · -5.2% YoY
Azad Engineering Other Announcement
Azad Engineering's QIP monitoring agency reports no deviation from objects this quarter. Rs 75.54 crore of proceeds remains unutilised, with timeline extended to March 2027.
Azad Engineering Board Meeting Date
Azad Engineering intimated that its board will meet on 6 Nov 2026 to consider unaudited Q2 FY27 results. No financial figures or decisions are reported in this advance notice.
Azad Engineering Other Announcement
The company filed its quarterly shareholding pattern for the period ended September 30, 2026, as per standard SEBI disclosure requirements.
Azad Engineering Bags ₹52.68 Cr Order from Bharat Heavy Electricals Limited
Azad Engineering secured a two-year BHEL rate contract worth about ₹52.68 crore for gas turbine airfoils. The disclosure marks its growing role in domestic power equipment.
- Value
- ₹52.68 Cr
- From
- Bharat Heavy Electricals Limited (BHEL)
- Execution
- Two years, to be executed by October 9, 2028