Azad Engineering Limited has informed the Exchange regarding Board meeting held on November 01, 2025.
AZAD · price
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The Board of Azad Engineering Limited, at its meeting on November 1, 2025, approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025. Consolidated revenue from operations for H1 FY26 rose to approximately Rs 2,421 Mn from about Rs 2,099 Mn in H1 FY25, indicating mid-teens year-on-year growth. Standalone profit before tax for the quarter improved to around Rs 415 Mn, with consolidated profit after tax attributable to owners showing strong growth of over 50% year-on-year for the half year. However, net cash flow from operating activities turned sharply negative at about Rs (765) Mn standalone and Rs (758) Mn consolidated, compared with small positives a year ago, largely due to working-capital build-up and heavy capex of about Rs 3,047 Mn on property, plant and equipment. Statutory auditor MSKA & Associates issued an unqualified limited review report on both sets of results, and unutilised QIP proceeds remain parked in bank deposits.
Strong profit growth is a positive for shareholders, but the steep swing into negative operating cash flow — caused by working-capital absorption and aggressive capex — may worry investors about short-term cash generation. The capex, however, signals confidence in future capacity and growth, which is a medium-term positive.