Azad Engineering Share Price Up By 10.28%; Secures $82.89 Million Contract with Mitsubishi Heavy Industries

Azad Engineering Limited is making headlines as its share price saw a significant increase today, opening at ₹1,579.90, up from the previous close of ₹1,461.80. By 10:43 AM, Azad Engineering share price was trading at ₹1,612.05, reflecting a rise of 10.28%. This surge in share price coincides with the company’s recent achievements in securing substantial contracts.

USD 82.89 Million Contract with Mitsubishi Heavy Industries

The company has signed a Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries Limited (MHI) in Japan for the supply of highly engineered and complex rotating and stationary airfoils for advanced gas and thermal power turbine engines. This contract, valued at approximately USD 82.89 million (around ₹700 crores), marks a significant step in cementing Azad Engineering’s strategic relationship with MHI. The contract execution is scheduled over a period of five years, reinforcing Azad Engineering’s position in the international power generation market.

Contract with Honeywell Aerospace

Additionally, on October 24, 2024, Azad Engineering received a business award from Honeywell Aerospace ISC in the USA for manufacturing and supplying highly complex components to meet global demand in the aviation industry. This Phase 1 award, valued at USD 16 million, further enhances its collaboration with Honeywell Aerospace.

With these developments, Azad Engineering is well-positioned for growth, bolstering its reputation and capabilities in both the power generation and aviation sectors.

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