Rs 6,000 Crore Order Book: Nuclear & Thermal Power Company Signs $73.47 Million Contract with Mitsubishi Heavy Industries, Total Deal Value Reaches $156.36 Million

AZAD Engineering Limited, a Hyderabad-based company, has announced that it has signed a new Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries Limited (MHI) of Japan.

The latest agreement is valued at USD 73.47 million (approximately Rs 651 crore). Under the contract, AZAD Engineering will supply complex rotating and stationary Airfoils for advanced gas and thermal power turbine engines. These highly engineered components will support MHI’s global requirements in the power generation sector.

This agreement is marked as "Phase 2" and follows the earlier contract signed between the two companies on November 3, 2024. With this addition, the total value of contracts between AZAD Engineering and MHI now stands at USD 156.36 million (approximately Rs 1,387 crore).

About the Company

Azad Engineering Ltd, founded in 1983, is a manufacturer of crucial components for the aerospace, defence, energy and oil and gas industries. Their expertise lies in creating highly engineered, complex and mission-critical parts like 3D rotating airfoils and blades for turbine engines, along with other vital 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 cap of over Rs 11,000 crore and as of September 30, 2024, the company has an order book of over Rs 6,000 crore. The stock’s 52-week high is Rs 1,930 per share and its 52-week low is Rs 1,128.40 per share. The stock is up by 34 per cent from its 52-week low of Rs 1,128.40 per share.

Disclaimer: The article is for informational purposes only and not investment advice.