Azad Engineering gains on ₹340 crore order win from France’s Arabelle Solutions

Azad Engineering Ltd has entered a strategic partnership with French company Arabelle Solutions, as disclosed in a recent exchange filing. This supply agreement, valued at approximately ₹340 crore (USD 40 million), involves providing critical rotating and stationary components essential for the nuclear power generation industry globally.

The contract, set for a five-year execution period, underscores Azad’s growing influence in the international energy sector.

Shares of Azad Engineering gained 2.6% on Tuesday, reaching an intraday high of ₹1,720 on the BSE before stabilising around ₹1,682.35 by midday.

Earlier this month, Azad Engineering secured a ₹700 crore long-term contract with Japan's Mitsubishi Heavy Industries Ltd., covering the supply of specialised components for advanced gas and thermal power turbines over five years.

Also read: Azad Engineering shares jump 13% after ₹700 crore deal win from Mitsubishi Heavy Industries

The order value of USD 82.89 million highlights the company's expanding portfolio and international reach.

Financially, Azad Engineering reported its strongest quarterly performance to date. Its profit after tax (PAT) rose 8.3% YoY to ₹21.07 crore in Q2 FY24, up from ₹19.45 crore last year. Revenue also saw a substantial increase, jumping 34.5% YoY to ₹111.4 crore.