Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 ( LODR Regulations ), it is informed that Azad Engineering has signed an additional contract/ amendment No. 1 to Strategic Supply Agreement signed on March 6th, 2024 with Nuovo Pignone Srl, a corporation of Baker Hughes Company, organized and existing under the laws of Italy, with its registered office at Via F. Matteucci, 2, 50127 Firenze (FI)- Italy ( Baker Hughes ). This additional Contract/amendment to SSA is for 5 years and involves the supply of high-complex and critical components.
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Azad Engineering has signed an amendment (No. 1) to its existing Strategic Supply Agreement with Nuovo Pignone Srl, the Italian arm of Baker Hughes Company. The original deal was signed on March 6, 2024, and this amendment extends the arrangement for 5 years. The contract covers the supply of high-complex and critical components. The monetary value of the contract has not been disclosed. The agreement is international in nature and is classified as a long-term contract, with no related-party involvement.
This is a positive development as it extends and reinforces a long-term export relationship with a major global energy/industrial OEM, supporting revenue visibility over the next 5 years. However, the undisclosed order value limits quantification of the financial impact.