“Gas Turbine Giant Secures ₹811 Crore Siemens Order, Boosting ₹4,500 Crore Order Book”
Azad Engineering Limited has secured a significant six-year contract with Siemens Energy Global GmbH & Co. KG to manufacture and supply mission-critical components for advanced turbine systems.
The agreement, worth 90.1 million euros (Rs 811 crore), covers a range of high-performance parts including combustion components, cold blades and vanes and machined parts and assemblies.
This milestone strengthens Azad’s strategic partnership with Siemens Energy, establishing the company as a reliable supplier to essential industries.
Earlier, the company had secured a purchase order from Bharat Heavy Electrical Limited (BHEL) to supply advanced, high-complexity rotating air foils for supercritical turbines.
Azad Engineering Limited, established in 1983, is a manufacturer of critical components for the aerospace, defense, energy and oil and gas industries.
Their expertise lies in manufacturing highly engineered, complex and mission-critical parts such as 3D rotating air foils and blades for turbine engines, as well as other critical components for gas, nuclear and thermal turbines.
They supply these precision-forged and machined parts to leading global original equipment manufacturers (OEMs) including General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace and MAN Energy Solutions SE.
The company has a market capitalization of over Rs 8,800 crore and has an order book of Rs 4,500 crore as of September 30, 2024. The stock has a 52-week high price of Rs 2,080 and its 52-week low price is Rs 890.60. The stock is up 72.6 per cent from its 52-week low of Rs 890.80 per share. Investors should keep an eye on this small-cap stock.
Disclaimer: This article is for informational purposes only and is not investment advice.
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