Azad Engineering Ltd (AZAD) — shareholding pattern, promoter holding, financials and share price
About Azad Engineering Ltd (AZAD)
Azad Engineering Ltd operates in the Heavy Electrical Equipment industry, within the Capital Goods sector. It trades on the NSE as AZAD and on the BSE under scrip code 544061. Its ISIN is INE02IJ01035.
Incorporated in 1983, Azad Engineering Limited is a manufacturer of aerospace components and turbines and supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries. [1]
Azad Engineering Limited manufactures highly engineered, mission‑critical forged and precision‑machined rotating and stationary components for aerospace & defence, energy and oil & gas OEMs, supplying complex airfoils, compressor and turbine parts with stringent quality and certification requirements and deriving ~92% of revenue from exports to 12+ countries.
The company delivered its highest ever quarterly and nine‑month results for Q3/9MFY26 with standalone revenue of Rs.4,329.8mn for 9MFY26 (↑31.8% YoY) and EBITDA margin expanding to ~36.9%; 9MF PAT surged 55.3% to Rs.970.3mn, signalling strong operating leverage despite heavy ongoing capex and stabilization costs.
Listed peers in Heavy Electrical Equipment: Triveni Turbine Ltd, TD Power Systems Ltd, Inox Wind Ltd, Atlanta Electricals Ltd, Elecon Engineering Company Ltd, Transformers & Rectifiers India Ltd.
Valuation & Returns
10 Jul 2026At ₹2,478.65 a share on 10 Jul 2026, Azad Engineering Ltd (AZAD) was valued at a price-to-earnings ratio of 119.84x against an industry P/E of 52.37x and a price-to-book of 11.48x on a book value of ₹215.82 per share as of Mar 2025. Solomo computes return on equity of 9.58% and return on capital employed of 13.16% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 119.84x
- Industry P/E
- 52.37x
- P/B
- 11.48x
- EPS (TTM)
- ₹20.68
- Book value / share
- ₹215.82
- ROE
- 9.58%
- ROCE
- 13.16%
- ROA
- 7.18%
- Debt / equity
- 0.19x
- Dividend yield
- 0%
- EBITDA margin
- 44.94%
- 52-week range
- ₹1,358.7 – ₹2,524.55
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Azad Engineering Ltd (AZAD) reported revenue of ₹603 crore, net profit of ₹134 crore and earnings per share of ₹20.58. That compares with revenue of ₹457 crore and net profit of ₹87 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹162 crore and net profit ₹37 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 194 | 252 | 341 | 457 | 603 |
| Net profit (₹ cr) | 29 | 8 | 59 | 87 | 134 |
| EPS (₹) | 194.69 | 51.28 | 9.91 | 13.52 | 20.58 |
| Measure | 5Y | 3Y | 1Y |
|---|---|---|---|
| Sales growth | 29.98% | 32.55% | 34.21% |
| Profit growth | 33.21% | 46.77% | 47.71% |
| Stock price CAGR | - | - | 51% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 55.84% of Azad Engineering Ltd (AZAD) (unchanged from the previous quarter), foreign institutional investors (FII) hold 13.3% and domestic institutional investors (DII) hold 10.32%. Market capitalisation was ₹16,008 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Dec 2023.
Largest disclosed public shareholders in Jun 2026: ICICI PRUDENTIAL BALANCED ADVANTAGE FUND 3.51%, ABU DHABI INVESTMENT AUTHORITY - MONSOON 1.74%, AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL F 1.59%, WHITEOAK CAPITAL FLEXI CAP FUND 1.26%, NOMURA INDIA INVESTMENT FUND MOTHER FUND 1.13%, KOTAK INFRASTRUCTURE & ECONOMIC REFORM FUND 1.05%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 55.84% | - | 13.3% | 10.32% | 44.16% |
| Mar 2026 | 55.84% | - | 14.75% | 11.71% | 44.16% |
| Dec 2025 | 55.84% | - | 15.33% | 10.74% | 44.16% |
| Sep 2025 | 55.42% | - | 15.76% | 9.84% | 44.58% |
| Jun 2025 | 55.42% | - | 16.15% | 8.91% | 44.58% |
| Mar 2025 | 60.32% | 0.8% | 14.23% | 8.24% | 39.68% |
| Dec 2024 | 65.9% | 0.8% | 9.98% | 6.56% | 34.1% |
| Sep 2024 | 65.9% | 0.8% | 9.74% | 5.74% | 34.1% |