AZAD Engineering Bags €90.1 Million Contract with Siemens Energy

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.

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