Price
Financials
Consolidated, Rs crore| 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 | 89 | 93 | 98 | 112 | 120 | 127 | 137 | 146 | 159 | 162 | 173 |
| Expenses | 57 | 56 | 61 | 65 | 72 | 78 | 81 | 88 | 93 | 96 | 100 | 108 |
| Operating Profit | 26 | 33 | 31 | 33 | 40 | 43 | 46 | 49 | 53 | 62 | 61 | 64 |
| OPM % | 32% | 37% | 34% | 34% | 36% | 36% | 36% | 36% | 36% | 39% | 38% | 37% |
| Other Income | 11 | 18 | 3 | 1 | 2 | 5 | 3 | 9 | 12 | 8 | 17 | 4 |
| Interest | 12 | 19 | 6 | 3 | 5 | 6 | 4 | 6 | 7 | 8 | 10 | 10 |
| Depreciation | 5 | 5 | 5 | 6 | 7 | 7 | 9 | 10 | 12 | 14 | 17 | 19 |
| Profit before tax | 20 | 27 | 23 | 24 | 30 | 34 | 36 | 42 | 46 | 48 | 51 | 39 |
| Tax % | 3% | 37% | 34% | 30% | 30% | 30% | 31% | 30% | 30% | 27% | 28% | 10% |
| Net Profit | 19 | 17 | 15 | 17 | 21 | 24 | 25 | 29 | 33 | 35 | 37 | 35 |
| EPS in Rs | 3.92 | 2.84 | 2.53 | 2.90 | 3.55 | 4.05 | 3.91 | 4.60 | 5.07 | 5.34 | 5.57 | 5.54 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales | 123 | 194 | 252 | 341 | 457 | 603 | 638 |
| Expenses | 95 | 132 | 179 | 224 | 296 | 378 | 398 |
| Operating Profit | 28 | 62 | 72 | 117 | 161 | 225 | 240 |
| OPM % | 23% | 32% | 29% | 34% | 35% | 37% | 38% |
| Other Income | 2 | 5 | 10 | 32 | 11 | 46 | 41 |
| Interest | 5 | 14 | 52 | 47 | 18 | 31 | 35 |
| Depreciation | 9 | 13 | 17 | 21 | 29 | 53 | 61 |
| Profit before tax | 16 | 40 | 13 | 81 | 124 | 187 | 184 |
| Tax % | 29% | 27% | 36% | 27% | 30% | 29% | |
| Net Profit | 12 | 29 | 8 | 59 | 87 | 134 | 139 |
| EPS in Rs | 76.00 | 194.69 | 51.28 | 9.91 | 13.52 | 20.58 | 21.52 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 37% | 34% | 29% | ||
| Compounded Profit Growth | % | 63% | 150% | 39% | ||
| Stock Price CAGR | % | % | % | 87% | ||
| Return on Equity | % | 10% | 9% | 9% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 12 | 13 | 13 |
| Reserves | 89 | 118 | 202 | 633 | 1,381 | 1,516 |
| Borrowings | 88 | 197 | 301 | 39 | 263 | 474 |
| Other Liabilities | 77 | 87 | 85 | 113 | 204 | 197 |
| Total Liabilities | 256 | 404 | 589 | 797 | 1,861 | 2,200 |
| Fixed Assets | 121 | 144 | 217 | 257 | 436 | 779 |
| CWIP | 0 | 24 | 38 | 45 | 80 | 257 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 135 | 236 | 335 | 494 | 1,345 | 1,164 |
| Total Assets | 256 | 404 | 589 | 797 | 1,861 | 2,200 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity | 5 | 21 | -10 | -7 | 54 | -119 |
| Cash from Investing Activity | -35 | -114 | -101 | -55 | -918 | -71 |
| Cash from Financing Activity | 24 | 96 | 126 | 71 | 877 | 174 |
| Net Cash Flow | -6 | 3 | 15 | 9 | 13 | -16 |
| Free Cash Flow | -16 | -96 | -94 | -78 | -240 | -691 |
| CFO/OP | 43% | 41% | -1% | 7% | 44% | -31% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 156 | 140 | 172 | 182 | 178 | 189 |
| Inventory Days | 906 | 1,009 | 1,042 | 1,055 | 1,085 | 2,067 |
| Days Payable | 986 | 748 | 576 | 396 | 459 | 536 |
| Cash Conversion Cycle | 77 | 401 | 638 | 840 | 804 | 1,720 |
| Working Capital Days | -11 | 4 | 120 | 283 | 215 | 304 |
| ROCE % | 22% | 16% | 21% | 12% | 12% |
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 65.90% | 65.90% | 65.90% | 65.90% | 65.90% | 60.32% | 55.42% | 55.42% | 55.84% | 55.84% | 55.84% |
| FIIs | 4.68% | 6.98% | 9.69% | 9.74% | 9.98% | 14.23% | 16.16% | 15.76% | 15.33% | 14.75% | 13.30% |
| DIIs | 5.71% | 5.00% | 3.44% | 5.74% | 6.57% | 8.23% | 8.91% | 9.84% | 10.73% | 11.71% | 10.32% |
| Public | 23.70% | 22.13% | 20.98% | 18.61% | 17.56% | 17.21% | 19.53% | 18.99% | 18.08% | 17.69% | 20.53% |
| No. of Shareholders | 1,35,090 | 1,06,231 | 1,02,445 | 1,28,846 | 1,17,613 | 1,24,539 | 1,27,692 | 1,27,716 | 1,25,118 | 1,26,786 | 1,33,221 |
Fundamentals
Market Cap₹ 18,820 Cr.
Current Price₹ 2,914
Stock P/E135
Book Value₹ 237
ROCE11.9 %
ROE9.09 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)29%
Compounded Profit Growth (TTM)39%
Consolidated figures.
Valuation
Market capRs 18,476 Cr
Enterprise valueRs 18,656 Cr
P/E (TTM)132.93x
Price to book153.97x
Price to sales28.94x
EV / EBITDA66.40x
EV / EBIT84.94x
EV / sales29.22x
Price to cash flow882.34x
Earnings yield0.75%
Profitability
Operating margin (excl. other income)32.02%
Operating margin (incl. other income)34.49%
EBITDA margin44.00%
Pre-tax margin28.88%
Net profit margin21.77%
Net margin, latest quarter20.71%
ROE27.94%
ROCE21.69%
ROA8.92%
ROIC (approx.)53.82%
Tax rate26.61%
Other income / net worth4.00%
Growth
Sales growth (latest year)58.47%
Profit growth (latest year)156.17%
Sales growth QoQ6.85%
Profit growth QoQ-0.67%
Sales growth YoY (latest quarter)25.90%
Profit growth YoY (latest quarter)20.29%
Per share
EPS (TTM)Rs 21.52
EPS (latest year)Rs 194.69
EPS (latest quarter)Rs 5.54
Book value per shareRs 18.58
Sales per shareRs 98.87
Cash flow per shareRs 3.24
Free cash flow per shareRs -107.00
Efficiency
Asset turnover0.48x
Fixed asset turnover1.35x
Inventory turnover1.33x
Inventory days274 days
Debtor days140 days
Debtors turnover2.61x
Creditor days536 days
Cash conversion cycle1720 days
Working capital days304 days
Leverage
Total debtRs 197 Cr
Cash and bankRs 18 Cr
Net debtRs 180 Cr
Debt to equity1.64x
Net debt / EBITDA0.64x
Interest coverage6.23x
Current ratio (filing 2026-03-31)3.27x
Quick ratio (filing 2026-03-31)2.18x
Trade payables (filing 2026-03-31)Rs 85 Cr
Owners' fund to total sources29.68%
Debt to assets48.77%
Cash flow
Cash from Operating Activity (latest year)Rs 21 Cr
Cash from Investing Activity (latest year)Rs -114 Cr
Cash from Financing Activity (latest year)Rs 96 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -691 Cr
FCFE (approx.: FCF + change in debt)Rs -582 Cr
Cash from ops / profit, 5 years-0.19x
Sales to cash flow9.29x
Statement figures
Net sales (TTM)Rs 638 Cr
Net sales (latest year)Rs 194 Cr
Sales (latest quarter)Rs 173 Cr
Operating profit excl. other income (latest year)Rs 62 Cr
Operating profit (latest quarter)Rs 64 Cr
Other income (TTM)Rs 41 Cr
EBITDA (TTM)Rs 281 Cr
PBDT (TTM)Rs 246 Cr
Profit before tax (TTM)Rs 184 Cr
Tax (latest year)Rs 11 Cr
Net profit (TTM)Rs 139 Cr
Net profit (latest year)Rs 29 Cr
Net profit (latest quarter)Rs 36 Cr
Depreciation (TTM)Rs 61 Cr
Depreciation (latest quarter)Rs 19 Cr
Interest (TTM)Rs 35 Cr
Cost of goods sold (latest year)Rs 76 Cr
Total expenditure (latest year)Rs 132 Cr
Total income (latest year)Rs 199 Cr
Share capitalRs 2 Cr
ReservesRs 118 Cr
Shareholders' fundsRs 120 Cr
Total assetsRs 404 Cr
Net blockRs 144 Cr
Capital work in progressRs 24 Cr
ReceivablesRs 75 Cr
InventoryRs 57 Cr
Other liabilitiesRs 87 Cr
Shares outstanding (crore)6.46
Ownership
Promoter holding55.84% (+0.42 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
| Period | AZAD | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +6.8% | -2.8% | +9.6 pts |
| 1 month | +0.6% | -6.8% | +7.4 pts |
| 3 months | +33.1% | -7.6% | +40.7 pts |
| 6 months | +92.8% | +0.4% | +92.4 pts |
| 1 year | +76.3% | -9.9% | +86.2 pts |
| 2 years | +91.8% | -13.6% | +105.3 pts |
47 mutual fund schemes hold about ₹1,847 Cr.
Over three months 8 bought more and 23 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| ICICI Pru Flexi Cap Fund | 1.81% | 469 | -11% |
| Axis Small Cap Fund | 0.62% | 197 | -2% |
| ICICI Pru Balanced Advantage Fund(M | 0.15% | 117 | -32% |
| Axis Flexi Cap Fund | 0.70% | 98 | -0% |
| Axis Flexi Cap Fund | 0.70% | 94 | -0% |
| Kotak MNC Fund | 4.09% | 94 | -1% |
| WOC Flexi Cap Fund | 0.79% | 72 | -22% |
| Union Small Cap Fund | 2.41% | 64 | -11% |
| Union Small Cap Fund | 2.41% | 58 | -11% |
| Axis Multicap Fund | 0.53% | 58 | +100% |
| LIC MF Large & Midcap Fund | 1.78% | 57 | +100% |
| Kotak Special Opportunities Fund | 3.03% | 52 | -21% |
| WOC Mid Cap Fund | 0.65% | 49 | -21% |
| Bandhan Infrastructure Fund | 3.32% | 48 | +10% |
| Axis India Manufacturing Fund | 0.70% | 41 | +100% |
| WOC Multi Cap Fund | 0.88% | 36 | -14% |
| LIC MF Multi Cap Fund | 1.42% | 32 | -5% |
| Motilal Oswal Manufacturing Fund | 3.68% | 26 | -37% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.85% | 21 | -2% |
| WOC Multi Asset Allocation Fund | 0.20% | 17 | -7% |
| Groww Small Cap Fund | 2.08% | 16 | -33% |
| Groww Multicap Fund | 1.02% | 15 | -28% |
| LIC MF Dividend Yield Fund | 1.65% | 13 | -1% |
| LIC MF Dividend Yield Fund | 1.65% | 12 | -1% |
| LIC MF Aggressive Hybrid Fund | 2.07% | 12 | +56% |
Red flags
F-score 6 of 8| look | Regulator order or action Regulator order or action 2026-03-25: Azad Engineering Limited has informed the Exchange about receipt of communications dated 24th March 2026 wherein orders have been passed imp |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Insider trades
NSE insider and takeover-code disclosures| Date | Who | Role | Side | Shares | Value | How |
|---|---|---|---|---|---|---|
| 2025-06-06 | Rakesh Chopdar | Promoters | sell | 3,167,702 | Rs 514.11 Cr | Market Sale |
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.
Latest quarter
Jun 2026Sales ₹173 Cr +26.3% vs Jun 2025.
Net profit ₹35 Cr +20.7%.
Activity
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| Schneider Electric Infrastructure Ltd | 28,517 | 147 | 29.6 % |
| TD Power Systems Ltd | 24,386 | 88.7 | 34.0 % |
| Triveni Turbine Ltd | 17,279 | 49.8 | 34.1 % |
| Atlanta Electricals Ltd | 12,566 | 57.6 | 45.3 % |
| Quality Power Electrical Equipments Ltd | 12,502 | 93.8 | 31.7 % |
| Inox Wind Ltd | 12,357 | 35.9 | 10.6 % |
| Karamtara Engineering Ltd | 11,568 | 50.4 | 23.4 % |
No bulk or block deals on record.
No corporate actions on record.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 100perc in previous 6 monthsScrip PE is greater than 50 (4 trailing quarters)
Quick answers
What is the market cap of Azad Engineering Ltd?
Azad Engineering Ltd (AZAD) has a market capitalisation of Rs 18,820 Cr. at the 2026-10-01 close.
What is the P/E ratio of Azad Engineering Ltd?
Azad Engineering Ltd trades at a P/E of 135 on trailing twelve-month profit, at the 2026-10-01 close.
What were Azad Engineering Ltd's latest quarterly results?
In the Jun 2026 quarter, Azad Engineering Ltd sales was Rs 173 Cr (+26.3% vs Jun 2025) and net profit was Rs 35 Cr.
What is the 52-week high and low of Azad Engineering Ltd?
The 52-week high is Rs 3,127.90 and the 52-week low is Rs 1,360.00.