"These airfoils are currently imported due to their high precision and technical complexity. AZAD Engineering has met these stringent requirements, establishing itself as an import substitute,” the company stated.
This purchase order is a part of collaborative indigenization project and is the result of a collaborative evaluation and approval by the Central Electricity Authority (Ministry of Power), National Thermal Power Corporation (NTPC), and Bharat Heavy Electrical (BHEL).
Azad Engineering is engaged in the manufacturing precision forged and machined components for clean energy, aerospace, defence, oil and gas, standalone power supply (SPS) as required by OEMs, with its manufacturing unit in Hyderabad.
The company’s consolidated net profit rose 8.1% to Rs 21.01 crore on 34.6% jump in net sales to Rs 111.54 crore in Q2 FY25 over Q2 FY24.
The scrip tumbled 8.29% to currently trade at Rs 1306.40 on the BSE.