Azad Engineering

What Azad Engineering does

Azad Engineering Limited is a Hyderabad-based, publicly listed precision manufacturer (NSE: AZAD, BSE: 544061; IPO December 2023) of mission- and life-critical components for the Aerospace & Defence, Energy, and Oil & Gas sectors. The company manufactures highly engineered components including rotating and stationary aerofoils, combustion parts, diaphragms, casings, engine assemblies, APUs, actuators, and hydraulic systems for global OEMs. It supplies Tier 1 components to Boeing (737, 737 MAX, 777X), Airbus (A320neo, A330neo), GE Aviation, GE Vernova, Mitsubishi Heavy Industries, Siemens Energy, Baker Hughes, Rolls-Royce, Honeywell, Pratt & Whitney Canada, Toshiba, MAN Energy, BHEL, EDF (exclusive nuclear aerofoils in India), HAL, DRDO/GTRE, and others, exporting over 90% of production to 17+ countries. Two wholly-owned subsidiaries — Azad VTC (surface engineering and thermal spray coatings) and Azad Prime (precision machining from 1 gram to 120 tons) — extend the platform across the component lifecycle.

The company operates an integrated manufacturing ecosystem of 350+ CNC machines across approximately 25,000 sq.m, with capabilities spanning 3/4/5-axis milling, ultra-precision turning, EDM, high-precision grinding, heat treatment, and advanced thermal coatings, supported by an in-house NABL-accredited testing laboratory and NADCAP-certified special processes. To date it has delivered over 4 million components and qualified 1,700+ parts across 45+ specialized processes, with an order book of Rs 6,000+ crore providing visibility into 2030 and beyond. The company plans to add approximately 175,000 sq.m of new capacity in two phases — a roughly 10x expansion — to capture surging demand from OEM supply-chain diversification.

Revenue is generated through long-term, multi-year strategic supply agreements with global OEMs, with pricing negotiated contract-by-contract and not publicly disclosed. The revenue mix is concentrated in energy (gas, steam, nuclear, hydrogen turbines) and aerospace components, with a growing oil & gas vertical. FY26 revenue reached close to Rs 6,000 million (~Rs 600 crore / ~$72M), with Q4 FY26 revenue up 27.26% YoY and net profit up 42.42% YoY. The go-to-market model is direct enterprise sales driven by deep OEM relationships and qualification-based supplier status, with new programs entering via Master Term Agreements (e.g., Pratt & Whitney Canada, November 2025) and flagship contract expansions (MHI, GE Vernova, Baker Hughes through 2030).

Name

Azad Engineering

Legal name

Azad Engineering Limited

Website

https://azad.in

Company type

Public

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Hyderabad-based, publicly listed precision manufacturer of mission- and life-critical components for Aerospace & Defence, Energy, and Oil & Gas, supplying Tier 1 OEMs including Boeing, Airbus, GE, MHI, Siemens Energy, Baker Hughes, Rolls-Royce, and Pratt & Whitney across 17+ countries with 90%+ export share.

Ownership category

akta.pro rank

Product category

Precision Engineered Components for Aerospace, Energy, Defence, and Oil & Gas

NAICS

Aircraft Engine and Engine Parts Manufacturing (336412), Aerospace Product and Parts Manufacturing (33641), Aircraft Manufacturing (336411)

SIC

Aircraft Engines & Engine Parts (3724), Aircraft Parts & Auxiliary Equipment, Nec (3728), Aircraft & Parts (3720)

akta.pro primary industry

Engine Modules & Hot-Section Components (Compressors/Turbines/Combustors) (IMABADAJ)

akta.pro secondary industry

Aerospace Fuel System Components (Tanks, Lines, Valves) (IMABANAJ)

Keywords

• Precision engineering manufacturing
• Aerospace turbine components
• Energy sector components
• Defence mission-critical parts
• Oil and gas components

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Precision Component Manufacturing: Design and manufacturing of highly engineered, mission and life-critical components for Aerospace, Defense, Energy, and Oil & Gas sectors. Revenue is generated through long-term supply contracts with global OEMs, project-based manufacturing agreements, and strategic partnership arrangements. The company operates as a Tier 1 supplier to leading OEMs.
2. Strategic Supply Agreements: Long-term contracts with OEMs like Baker Hughes (Nuovo Pignone), GE Vernova, Mitsubishi Heavy Industries extending through 2030. These contracts provide revenue visibility and steady manufacturing volume.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Azad Engineering designs and manufactures highly engineered, mission- and life-critical precision components—including aerofoils, engine assemblies, APUs, actuators, hydraulic systems, combustion parts, diaphragms, casings, and turbine parts—for global OEMs in the Aerospace & Defence, Energy, and Oil & Gas sectors. Operating from 25,000+ sq.m of manufacturing facilities with 350+ state-of-the-art CNC machines, the company produces 1,700+ qualified parts across 45+ specialized processes and supplements manufacturing with NADCAP-certified special processes (HVOF, FPI, Fluid Distribution) and an in-house NABL-accredited testing laboratory.

Product overview

Azad Engineering is a precision engineering manufacturer offering mission and life-critical components across three core verticals: Aerospace & Defence, Energy, and Oil & Gas. The company operates as a unified precision manufacturing platform, complemented by two strategic subsidiaries—Azad VTC (surface engineering/coatings) and Azad Prime (precision machining)—that extend capabilities across the component lifecycle. The main entity provides complete aero engine, APU, missile, actuator, fuel systems, and turbine components, while Azad VTC delivers advanced thermal spray coatings, and Azad Prime handles heavy-duty precision machining from grams to 120 tons. Together, they serve as a comprehensive Tier 1 supplier to global OEMs.

Differentiator

Problem solved

Functional benefit

Products and services

• Aerospace & Defence Components Design and manufacture of mission- and life-critical engineered components for propulsion, actuation, hydraulic, and flight control systems for commercial and military aircraft, spacecraft, and defence systems, supplied to global aerospace OEMs including Boeing, Airbus, GE Aviation, Honeywell, Rolls-Royce, Pratt & Whitney, HAL, and DRDO/GTRE.
• Energy Sector Components High-precision turbine components including rotating and stationary aerofoils, combustion parts, diaphragms, casings, and critical machining parts and assemblies for gas, nuclear, hydrogen, and thermal turbines, supplied to GE Vernova, Mitsubishi Heavy Industries, Siemens Energy, Toshiba, MAN Energy, and BHEL.
• Oil & Gas Components High-precision components for upstream, midstream, and downstream oil & gas operations including drilling services, well intervention, subsea pressure systems, wireline, artificial lifting systems, aerofoils, combustion parts, and castings supplied to Baker Hughes/Nuovo Pignone and related oilfield OEMs.
• Azad VTC Surface Engineering Solutions Advanced surface engineering solutions including Atmospheric Plasma Spray (APS), High Velocity Oxy Fuel (HVOF), Electric Wire Arc Spray, and Spray & Fuse Technology providing wear-, corrosion-, and heat-resistant coatings for aerospace, power generation, and industrial applications, delivered via wholly owned subsidiary Azad VTC Private Limited.
• Azad Prime Precision Machining Precision-machined components ranging from 1 gram to 120 tons in weight and 3mm to 3000mm in diameter, including Swiss-type auto lathe work, multi-axis CNC turning, milling, grinding, and heavy engineering for power generation applications, delivered via wholly owned subsidiary Azad Prime Private Limited.
• Testing & Quality Assurance Services NABL-accredited in-house testing laboratory providing non-destructive testing, destructive testing, functional testing, static and dynamic balancing, and fluid distribution testing services supporting aerospace, energy, and oil & gas component qualification.

Quantifiable outcome

• Delivered over 4 million components since inception with zero-defect culture
• +4 more outcomes

Named customers17 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered flagship, major, notable, exclusive and national.

• Nuovo Pignone S.r.l. (Baker Hughes)flagshipStrategic or Co-development Partner · 24 April 2026Amendment No. 3 to strategic supply agreement with Nuovo Pignone S.r.l., a Baker Hughes group company, for supply of critical turbomachinery components used in power generation. Contract extended up to December 2030. Eight-year partnership began in 2018 with supply of critical rotating airfoils for gas and steam turbines.
• GE AerospacemajorStrategic or Co-development Partner · 10 March 2026Supply relationship for aerospace engine components. Azad Engineering positioned to benefit from global aerospace supply chain diversification.
• GE VernovamajorStrategic or Co-development Partner · 9 February 2026$53.5 million agreement with GE Vernova for turbine airfoil assemblies. Azad Engineering building 10x its previous manufacturing capacity for nuclear energy components.
• Bharat ForgenotableStrategic or Co-development Partner · 29 December 2025Both Azad Engineering and Bharat Forge identified as key Indian suppliers set to expand manufacturing roles for critical engine components as Rolls-Royce diversifies supply chain.
• Pratt & Whitney CanadamajorStrategic or Co-development Partner · 18 November 2025Master Term Agreement and Purchase Agreement signed with Pratt & Whitney Canada Corp. for development and manufacturing of aircraft engine components. Long-term collaboration to strengthen aerospace manufacturing capabilities.
• Mitsubishi Heavy Industries (MHI)flagshipStrategic or Co-development Partner · 29 September 2025$73.47 million long-term contract with Mitsubishi Heavy Industries, Japan, to supply high-precision components for gas and thermal turbine engines. Total deal value increased to $156.36 million. Partnership expanded from supplying turbine airfoils to hot-section nozzle vane segments for gas turbines.
• GE VernovaflagshipStrategic or Co-development Partner · 8 May 2025Six-year supply contract worth $53.5 million with GE Vernova's Steam Power Services business unit through 2030. Covers manufacture and supply of airfoils for nuclear, industrial, and thermal power applications. Deepened long-standing strategic relationship.
• Rolls-RoycemajorStrategic or Co-development Partner · 1 March 2024Long-term deal signed with Rolls-Royce to supply civil aircraft engine components. Rolls-Royce plans to double procurement volumes from India by 2030, with Azad Engineering as a key supplier set to expand manufacturing role.
• Électricité de France (EDF)exclusiveStrategic or Co-development Partner · 1 January 2021Exclusive supplier status for nuclear aerofoils in India granted by EDF in 2021. Unique positioning in nuclear energy sector as the world transitions to hydrogen and nuclear power.
• GTRE/DRDOnationalStrategic or Co-development PartnerWorking with GTRE under DRDO and Ministry of Defence for end-to-end manufacturing, assembly, and integration of complete assembled Advanced Turbo Gas Generator Engine. Supports Make in India initiative.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Bharat Forge: Indian precision forging and component manufacturer serving aerospace, defense, and energy OEMs. Identified alongside Azad as a key supplier set to expand manufacturing roles as Rolls-Royce and other OEMs diversify supply chains into India. Comparable in customer mix (Boeing, Airbus, Rolls-Royce) and product overlap in aerospace structural and engine components.
• MTAR Technologies: Indian precision engineering company specializing in mission-critical components for aerospace, defense, nuclear, and clean energy sectors. Direct competitor to Azad in India, with similar customer base in Indian defense (DRDO, HAL, BrahMos) and capabilities in complex machining of critical parts.
• Tata Advanced Systems: Indian aerospace and defense manufacturer and Azad customer. Direct peer in precision aerospace component manufacturing, serving platforms like Boeing Apache, Lockheed Martin, and Airbus with comparable tier-1 supplier capabilities.
• Godrej Aerospace: Indian aerospace components manufacturer and Azad customer. Comparable precision machining capabilities for aerospace and defense OEMs, with similar tier-1 supplier positioning and customer relationships including HAL and Indian defense programs.
• Dynamatic Technologies: Indian precision engineering company with significant aerospace (airframe structures, hydraulic systems) and defense components business. Direct peer in precision manufacturing for global OEMs including Airbus, Boeing, and Rolls-Royce, with similar Indian tier-1 supplier profile.

Regional players

• Hindustan Aeronautics Limited (HAL): India's largest aerospace and defense manufacturer and a customer of Azad. Comparable in aerospace engine and airframe component manufacturing, though HAL is a vertically integrated OEM/Airworthiness authority, while Azad is a Tier-1 component supplier.

Broad incumbents

• Howmet Aerospace: Global leader in aerospace engine components including turbine airfoils, blades, and structural castings. Direct competitor in the same product categories Azad serves (airfoils, hot-section components) for the same large engine OEMs (GE, Pratt & Whitney, Rolls-Royce), with substantially larger scale and incumbency.
• Precision Castparts Corp (PCC): Berkshire Hathaway-owned global leader in investment castings and aerospace components, including turbine blades and structural parts. Largest competitor in aerospace super-alloy components and a direct peer for engine OEMs Azad serves.
• Larsen & Toubro (L&T) Defence: Large Indian engineering conglomerate with a defense and aerospace components division. Comparable in scale and customer reach (DRDO, HAL, global defense OEMs), though L&T is far broader in scope and provides a benchmark for Indian industrial peers expanding aerospace capabilities.
• Doncasters Group: UK-based global precision castings and components manufacturer serving aerospace and industrial gas turbine markets. Direct competitor for turbine airfoils and hot-section components supplied to Rolls-Royce, GE, Siemens, and other OEMs that also engage Azad.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/azad-engineering-pvt-limited

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Azad Engineering