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Azad Engineering (AZAD)₹2,434−2.68%Heavy Electrical Equipment
In the Jun 2026 quarter (consolidated), Azad Engineering reported sales of ₹173 Cr, up 26.2% from Jun 2025, and net profit of ₹35.12 Cr, up 20.8% year on year. For the year to Mar 2026, sales were ₹604 Cr and net profit ₹134 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 83.25 | 89.25 | 93.21 | 98.34 | 112 | 120 | 127 | 137 | 146 | 159 | 162 | 173 |
| Expenses | 57.18 | 56.20 | 61.24 | 65.26 | 72.30 | 78.21 | 81.34 | 88.26 | 93.34 | 96.33 | 100 | 108 |
| Operating Profit | 25.92 | 32.88 | 30.89 | 32.88 | 39.89 | 42.87 | 45.88 | 48.82 | 52.86 | 61.77 | 60.75 | 63.77 |
| OPM % | 32.0% | 37.0% | 33.9% | 34.0% | 36.0% | 36.0% | 36.0% | 35.9% | 36.0% | 39.0% | 37.9% | 37.0% |
| Other Income | 11.03 | 18.07 | 3.01 | 1.01 | 2.01 | 5.01 | 3.01 | 9.02 | 12.03 | 8.03 | 17.05 | 4.01 |
| Interest | 12.01 | 19.01 | 6.01 | 3.01 | 4.99 | 6.01 | 4.01 | 5.99 | 6.99 | 8.01 | 10.01 | 10.01 |
| Depreciation | 4.99 | 4.99 | 4.99 | 5.99 | 6.98 | 6.99 | 8.98 | 9.98 | 11.98 | 13.97 | 16.97 | 18.95 |
| Profit before tax | 19.99 | 26.98 | 22.99 | 23.97 | 30.01 | 33.98 | 35.98 | 41.95 | 45.97 | 48.01 | 50.94 | 38.98 |
| Tax % | 3.0% | 37.0% | 34.0% | 30.0% | 30.0% | 30.0% | 31.0% | 30.0% | 30.0% | 27.0% | 28.0% | 10.0% |
| Net Profit | 19.05 | 17.06 | 15.05 | 17.06 | 21.08 | 24.07 | 25.06 | 29.07 | 33.08 | 35.09 | 37.11 | 35.12 |
| EPS (Rs) | 3.91 | 2.83 | 2.52 | 2.89 | 3.54 | 4.04 | 3.90 | 4.59 | 5.06 | 5.33 | 5.55 | 5.53 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 123 | 195 | 253 | 342 | 458 | 604 | 642 |
| Expenses | 95.36 | 132 | 180 | 225 | 297 | 379 | 398 |
| Operating Profit | 27.90 | 61.74 | 71.79 | 117 | 161 | 224 | 239 |
| OPM % | 23.0% | 31.9% | 28.9% | 33.9% | 35.0% | 36.9% | 37.3% |
| Other Income | 2.01 | 5.02 | 10.04 | 32.10 | 11.03 | 46.13 | 41.12 |
| Interest | 4.99 | 13.99 | 51.97 | 47.04 | 18.01 | 31.01 | 35.02 |
| Depreciation | 8.98 | 12.96 | 16.98 | 20.95 | 28.94 | 52.90 | 61.87 |
| Profit before tax | 15.99 | 39.98 | 12.99 | 80.99 | 124 | 187 | 184 |
| Tax % | 29.0% | 27.0% | 35.9% | 27.0% | 30.0% | 29.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 3.01 | 0.00 | 0.00 | — |
| Net Profit | 12.04 | 29.09 | 8.03 | 59.21 | 87.22 | 134 | 140 |
| EPS (Rs) | 75.78 | 194.28 | 51.15 | 9.88 | 13.47 | 20.52 | 21.47 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1.99 | 1.99 | 1.99 | 11.98 | 12.99 | 12.99 |
| Reserves | 89.27 | 118 | 203 | 635 | 1,385 | 1,519 |
| Borrowings | 88.12 | 197 | 302 | 39.04 | 263 | 475 |
| Other Liabilities | 76.97 | 87.20 | 84.67 | 112 | 204 | 196 |
| Total Liabilities | 256 | 405 | 590 | 798 | 1,865 | 2,204 |
| Fixed Assets | 121 | 144 | 217 | 257 | 435 | 779 |
| CWIP | 0.00 | 24.09 | 38.10 | 45.16 | 80.28 | 258 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 135 | 237 | 336 | 495 | 1,349 | 1,168 |
| Inventories | 33.95 | 56.89 | 85.94 | 133 | 189 | 329 |
| Trade receivables | 52.88 | 74.83 | 119 | 170 | 223 | 311 |
| Cash & equivalents | 17.04 | 18.04 | 53.12 | 59.11 | 698 | 185 |
| Total Assets | 256 | 405 | 590 | 798 | 1,865 | 2,204 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 5.01 | 21.02 | −10.01 | −7.01 | 54.09 | −119 |
| Cash from investing activity | −34.99 | −114 | −101 | −54.98 | −918 | −70.93 |
| Cash from financing activity | 24.06 | 96.24 | 126 | 71.22 | 879 | 175 |
| Net cash flow | −6.01 | 2.99 | 15.01 | 9.01 | 12.99 | −16.01 |
| Capex | 20.01 | 117 | 85.99 | 75.06 | 293 | 572 |
| Free cash flow | −16.05 | −96.26 | −94.31 | −78.25 | −241 | −693 |
| CFO / OP % | 43.0% | 41.0% | −1.0% | 7.0% | 44.0% | −31.0% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 156 | 140 | 172 | 182 | 178 | 189 |
| Inventory days | 905 | 1,008 | 1,041 | 1,054 | 1,084 | 2,066 |
| Days payable | 986 | 748 | 576 | 396 | 459 | 536 |
| Cash conversion cycle | 77 | 401 | 638 | 840 | 804 | 1,720 |
| Working capital days | −10 | 5 | 121 | 284 | 216 | 305 |
| ROCE % | — | 22.0% | 16.0% | 21.1% | 12.0% | 12.1% |
For the Jun 2026 quarter, Azad Engineering reported sales of ₹173 Cr, up 26.2% year on year and net profit of ₹35.12 Cr, up 20.8% year on year. The operating margin was 37.0%.
Azad Engineering's sales for the year to Mar 2026 were ₹604 Cr; over the last twelve months they were ₹642 Cr.
Net profit for the year to Mar 2026 was ₹134 Cr, and ₹140 Cr over the last twelve months. Earnings per share over the same trailing period were ₹21.47.
Azad Engineering reported borrowings of ₹475 Cr at Mar 2026, against cash and equivalents of ₹185 Cr.
Cash from operations was −₹119 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹693 Cr.