We hereby inform you that AZAD Engineering Limited has signed a Long Term Supply Agreement with GE Steam Power GMBH acting through its , GE Vernova Power business based in Baden, Switzerland for manufacture and supply of highly engineered and complex rotating and stationary Airfoils for advanced nuclear, industrial, and thermal power industries, meeting GE Vernova global demand in the power generation and essential industries. This current phase of the contract, valued at approximately USD 53.5 Million ( approximately INR 452.48 Crores) is a robust step towards cementing our everlasting strategic relationship with GE Steam Power GMBH.
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Azad Engineering has signed a long-term supply agreement with GE Steam Power GMBH, part of GE Vernova's power business based in Baden, Switzerland. The company will manufacture and supply highly engineered rotating and stationary airfoils used in advanced nuclear, industrial, and thermal power industries, meeting GE Vernova's global demand. The current phase of the contract is valued at approximately USD 53.5 million (around INR 452.48 crores) and will run for 6 years. The agreement is described as a strategic step to deepen the company's existing relationship with GE Vernova. The contract is with an international entity and is not a related party transaction.
This is a sizable multi-year international order from a globally recognized customer, which strengthens Azad Engineering's export revenue visibility and credibility in the high-precision power components space. Positive for the stock in the near term, though execution over 6 years and dependence on a single large client remain key things to watch.