Azad Engineering Q3 FY26 Earnings Call Transcript Released
Azad Engineering reported strong Q3 FY26 results with revenue at ₹155.8 crore (up 31% YoY) and PAT at ₹34 crore (up 40.1% YoY). The order book stands over ₹6,500 crore. New plants are in stabilization, with stable operations expected by FY27 and full utilization by FY28. The company projects over 25% revenue growth annually.
The announcement provides a detailed update on financial performance, strategic progress, capacity expansion, and future outlook. The strong growth figures, robust order book, and clear roadmap for capacity utilization are significant factors for investors.
The company reported strong year-on-year growth in revenue, EBITDA, and PAT. The order book remains robust, and management expressed confidence in future growth and operational leverage. The successful stabilization of new facilities is a key positive indicator.
Azad Engineering Limited has released the transcript of its Q3 FY26 earnings conference call, which was conducted on February 14, 2026. The call featured insights from Chairman and CEO Rakesh Chopdar, Whole-Time Director Vishnu Malpani, and CFO Ronak Jajoo.
During the call, the management highlighted a strong performance for Q3 FY26, with revenue growing over 31% year-on-year to ₹155.8 crore. EBITDA stood at ₹60.1 crore, a growth of over 40.7%, and Profit After Tax (PAT) was ₹34 crore, an increase of over 40.1% year-on-year. For the 9-month period of FY26, revenue grew by nearly 32%, with EBITDA and PAT showing significant year-on-year growth, with 9-month profitability already exceeding the full FY25 level.
The company's order book remains robust at over ₹6,500 crore, providing multiyear revenue visibility. Key developments include engagement and contract progression with Safran and Pratt & Whitney for critical aerospace components. While energy and oil & gas continue to be major revenue contributors, aerospace and defence are steadily increasing their share.
Regarding capacity expansion, the new plants dedicated to GE, Mitsubishi, and Siemens programs have been capitalized and are in the stabilization and qualification phase. The company expects stable operating levels by FY27 and maximum utilization starting by FY28. Management remains confident in achieving over 25% revenue growth in the coming years, with larger operating leverage benefits expected from FY27 onwards.
Operational insights focused on disciplined execution, structured ramp-up, and embedding lean principles. The company is also strengthening its supply chain reliability and domestic sourcing. Financials indicated stable margins despite ramp-up costs, with a long-term EBITDA margin profile targeted between 33% to 35%.
The management addressed questions on new facility timelines, order book trajectory, the impact of US-India trade deals, and the transition to a self-sustaining growth model. They emphasized that FY26 is a transition year for stabilization, with FY27 and FY28 expected to show stronger operating leverage and utilization.
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Azad Engineering Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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