Azad Engg spurts after inking $53.5 million deal with GE Steam Power
Azad Engineering rallied 7.27% to Rs 1,664.90 after the company signed an agreement worth $53.5 million with GE Steam Power GMBH for the manufacturing and supply of stationary airfoils for power generation.
Under the six-year contract, Azad Engineering will manufacture and supply highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial, and thermal power industries.
Azad Engineering is engaged in the manufacturing of precision forged and machined components for clean energy, aerospace, defense, oil and gas, and standalone power supply (SPS) as required by OEMs with its manufacturing unit in Hyderabad.
The companys consolidated net profit jumped 42.3% to Rs 23.92 crore on a 35% increase in net sales to Rs 120.48 crore in Q3 FY25 over Q3 FY24.
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