Transcript of Earnings Conference Call held on 16th May 2026

Mgmt Guided Margin ImprovementOrder Pipeline DisclosedAnalyst Day Multiyear TargetsInvestor Communications View source PDF

AZAD · price

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AI summary

Azad Engineering reported Q4 FY '26 revenue of INR 157 crores (26.4% YoY growth) with EBITDA margin improving to 36.7% and PAT margin at 22.3%. Full year FY '26 revenue stood at INR 590 crores, up 30% from INR 453 crores, with PAT growth of 54.4%. The company announced a milestone 8-year single-source contract with Mitsubishi Heavy Industries for hot section Nozzle Vanes, a key endorsement of technical capabilities. Order book remains at INR 6,500 crores (approximately 11-12x FY '26 revenue), broken down as ~$400 million for Energy, ~$200 million+ for Aerospace & Defence, and ~$100 million+ for Oil & Gas. Infrastructure build-out is 70-80% complete with 4 new dedicated OEM facilities commissioned. Management guided for 25%+ top line growth on multi-year basis and expects margin improvement as new plants reach full utilization.

Likely market impact

Strong execution with new multi-year contracts and expanding order book provides visibility for sustained growth. The Mitsubishi hot section qualification and infrastructure completion should drive operating leverage and margin expansion in FY '27 and beyond.