Synopsis: Azad Engineering Limited reported a strong set of Q4 and full-year FY26 results on May 15, 2026, with standalone revenue surging to Rs. 590.38 crore and net profit jumping nearly 49% to Rs. 132.16 crore. The high-precision OEM components maker continues its steep growth trajectory backed by massive capex.
Azad Engineering Limited convened its Board of Directors meeting on Friday, May 15, 2026, approving both standalone and consolidated audited financial results for Q4 and the full financial year ended March 31, 2026. Statutory auditors M S K A & Associates LLP issued an unmodified audit opinion on both sets of results, adding credibility to the strong numbers.
On the standalone front, Azad delivered an outstanding performance. Revenue from operations for FY26 surged to Rs. 590.38 crore compared to Rs. 452.93 crore in FY25, a robust year-on-year growth of approximately 30.3%. For Q4 FY26 alone, standalone revenue came in at Rs. 157.39 crore, up significantly from Rs. 124.52 crore in Q4 FY25.
Net profit for the full year came in at Rs. 132.16 crore, compared to Rs. 88.53 crore in FY25, a growth of approximately 49.3%. Earnings per share for FY26 stood at Rs. 20.46 on a basic and diluted basis, up sharply from Rs. 14.87 in FY25.
On the consolidated front, revenue from operations reached Rs. 602.98 crore for FY26, with consolidated net profit attributable to owners of the parent at Rs. 132.88 crore. Consolidated EPS for FY26 stood at Rs. 20.57 on a basic and diluted basis.
What makes Azad’s numbers even more compelling is the aggressive capital deployment underpinning this growth. The company disclosed its utilization of the Rs. 700 crore Qualified Institutional Placement (QIP) proceeds raised in FY25.
As of March 31, 2026, Rs. 540.27 crore has been utilized primarily towards funding and part-funding the company’s significant capital expenditure program while Rs. 159.73 crore remains in fixed deposits and monitoring accounts. Total capex spend on property, plant and equipment (including capital work-in-progress) during FY26 stood at a substantial Rs. 570.71 crore, reflecting the company’s commitment to capacity expansion across its precision components manufacturing facilities.
This investment is clearly bearing fruit. The company’s property, plant and equipment on a standalone basis grew from Rs. 401.02 crore in FY25 to Rs. 744.77 crore in FY26, while capital work-in-progress stood at Rs. 256.68 crore as of March 31, 2026, signalling continued expansion momentum. Total standalone assets grew from Rs. 1,854.53 crore to Rs. 2,195.13 crore over the same period.
Azad operates in a single primary segment the manufacture and sale of high-precision OEM components serving global customers in energy, aerospace, and defence. This focused business model, combined with strong global demand for precision-engineered parts and India’s growing role in global supply chains, positions the company favorably for continued order book expansion.
Shares of Azad Engineering Limited were trading at Rs. 1,962.20 on May 18, 2026, down 6.48% from the previous close of Rs. 2,098.20. The stock opened at Rs. 2,084.40 and touched an intraday high of Rs. 2,095 and a low of Rs. 1,962.20. The company currently has a market capitalization of about Rs. 12,600 crore and trades at a P/E of 101.45. The stock is listed on the National Stock Exchange of India and is part of the NIFTY Microcap 250 index.
Company Overview
Azad Engineering Limited, headquartered in Hyderabad, is a precision engineering company specializing in the manufacture of complex, high-tolerance components for globally leading OEMs in the energy, aerospace, oil & gas, and defence sectors. The company’s manufacturing facilities in Jeedimetla, Hyderabad, serve a blue-chip international customer base, with its products subject to stringent quality certifications. Azad has emerged as one of India’s most prominent precision manufacturing success stories.
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