Azad Engineering Ltd. announced a long-term contract and pricing agreement with Mitsubishi Heavy Industries Ltd., a global player in Japan’s power industry. This agreement involves the production and supply of complex rotating and stationary airfoil components for advanced gas and thermal power turbines, addressing Mitsubishi’s needs in the global power sector.
The current contract phase is valued at $82.89 million, approximately ₹700 crore, with a planned five-year execution timeline. In October, Azad Engineering received a ₹134 crore order from Honeywell Aerospace Ltd. to produce high-precision components for the aviation sector.
The company has yet to update its order book following this latest Mitsubishi contract. As of the June quarter, 78.4% of Azad Engineering’s revenue stems from the Energy, Oil, and Gas sectors, while Aerospace and Defense contribute 18.5%.
The company predominantly operates in export markets, with international sales accounting for 91% of revenue. Azad Engineering runs four manufacturing units in Hyderabad, covering a total of 20,000 square meters.
Azad Engineering Ltd., headquartered in Hyderabad, India, is a prominent engineering firm known for precision manufacturing and high-quality industrial components. Founded by Rakesh Chopdar, the company specializes in producing critical parts for various sectors, including aerospace, defense, energy, and oil & gas.
Azad Engineering has gained a strong reputation for quality, holding multiple certifications such as ISO 9001 and AS9100, which reflect its commitment to rigorous industry standards and reliability in engineering solutions. With around 1,200 employees, the firm has seen substantial growth, expanding its market presence and currently generating annual revenues of over $41 million.
Azad Engineering’s expertise has earned it partnerships with several global giants, while its recent growth initiatives and investments, including acquisitions related to advanced wear-resistant coatings, underline its ambition to expand its manufacturing capabilities and technological reach. As a publicly traded company, it has a current market capitalization of over $1 billion, marking its influence and stability in the industrial engineering sector.
