Azad Engineering Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
AZAD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Azad Engineering's board, meeting on November 1, 2025, approved its Q2 and H1 FY26 unaudited financial results (standalone and consolidated), filed with limited review reports from statutory auditor MSKA & Associates. The auditor issued an unmodified review conclusion with no qualifications, emphasis of matter, or going-concern flags. Consolidated H1 FY26 revenue from operations rose roughly 15% year-on-year to about Rs 2,421 Mn, with H1 PAT of around Rs 325 Mn and an EPS of Rs 5.05 (not annualized) versus Rs 4.56 in H1 FY25. However, the company reported negative operating cash flow of about Rs 165 Mn in H1 FY26 (standalone), compared to a small positive Rs 22 Mn a year ago, driven by working-capital build-up and tax outflows. The company also deployed significant funds during the period - roughly Rs 3,048 Mn into property, plant and equipment/capex and about Rs 7,125 Mn into subsidiaries, partly funded by long-term borrowings of around Rs 466 Mn.
Top-line growth and earnings remain healthy, but the swing to negative operating cash flow despite higher profits is a yellow flag for working-capital management and short-term cash quality. Investors should watch how the large capex and subsidiary investments translate into future revenue, and monitor the QIP fund utilization disclosure closely.