AZAD Engineering Limited has signed a New Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries Limited, Japan (MHI), valued at USD 73.47 million (INR approx 651 Crores) for supply of highly engineered & complex rotating and stationary Airfoils for Advanced Gas & Thermal power turbine engines to meet their global demand in the power generation industry. This contract is incremental to last signed contract on 3rd November 2024,. This Phase 2 of the contract, is a robust step towards cementing our everlasting strategic relationship with Mitsubishi Heavy Industries Limited, Japan (MHI) and with the addition of this agreement, the combined value of contract now stands at USD 156.36 million (INR approx 1,387 crores) .
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Azad Engineering has signed a Phase 2 Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries (MHI), Japan, worth USD 73.47 million (approximately INR 651 Crores). The contract is for supplying highly engineered rotating and stationary airfoils used in advanced gas and thermal power turbine engines for the global power generation market, to be executed over 5 years. This is incremental to a prior contract signed on 3rd November 2024, taking the combined contract value to USD 156.36 million (approximately INR 1,387 Crores). The order is international, with no related-party involvement.
This is a significant export win in hard currency (USD), strengthening Azad's order book and long-term revenue visibility with a marquee global customer. For shareholders, the contract materially expands the company's foothold in the global power generation supply chain and is likely to be a positive trigger for the stock.