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AZAD Engineering Bags €90.1 Million Contract with Siemens Energy

Written by: Team Angel OneUpdated on: Jan 30, 2025, 2:42 PM IST
AZAD Engineering signs a €90.1 million contract with Siemens Energy for a 6-year partnership to supply mission-critical turbine components.
AZAD Engineering Bags €90.1 Million Contract with Siemens Energy
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AZAD Engineering Limited has announced a significant milestone by securing a long-term contract and price agreement with Siemens Energy Global GmbH & Co. KG. The agreement, valued at €90.1 million (₹811 crore), extends over a 6-year period and reinforces AZAD’s position as a trusted supplier of high-performance turbine components.

Scope of the Agreement

Under the terms of the agreement, AZAD Engineering will be responsible for manufacturing and supplying mission-critical components such as combustion commodities, cold blades, vanes, and precision machined parts & assemblies. These components play a vital role in advanced turbine systems, highlighting AZAD’s expertise in delivering high-quality engineering solutions for essential industries.

Key Highlights of the Contract

The contract between AZAD Engineering and Siemens Energy will run for 6-years, with an overall value of €90.1 million (₹811 crore). The agreement focuses on the supply of essential turbine components, strengthening AZAD’s global footprint. Notably, AZAD holds no stake in Siemens Energy, and the contract does not fall under related party transactions. This collaboration positions AZAD as a key supplier in the global energy sector, reinforcing its reputation in high-precision manufacturing and engineering.

A Boost for India’s Engineering Capabilities

This partnership is expected to enhance AZAD Engineering’s global presence, solidifying its role as a leading supplier of high-performance industrial components. The agreement underscores the growing capabilities of India’s precision engineering sector, demonstrating the country’s ability to cater to international clients with complex manufacturing requirements.

Strategic Significance of the Deal

The agreement marks an important step in AZAD Engineering’s expansion strategy, reinforcing its long-term relationship with Siemens Energy. It also highlights the company’s expertise in precision engineering, manufacturing excellence, and global competitiveness.

At 9:42 AM on January 30, 2025, Azad Engineering Ltd shares traded at ₹1,469.90 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 30, 2025, 2:42 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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