Azad Engineering Ltd IPO

Azad Engineering Limited is one of the key manufacturers of its qualified product lines supplying to global original equipment manufacturers (OEMs) in the energy, aerospace and defence, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components. The Company manufactures complex and highly engineered precision forged and machined components that are mission and life-critical and hence, some of its products have a zero parts per million defects requirement. As of September 30, 2023, the company generated a revenue of Rs.1,142.92 million from sale of airfoils/ blades for the energy industry, which comprised of 72.00% of its revenue from operations. Its customers include global OEMs across the energy, aerospace and defence and oil and gas industries such as General Electric, Honeywell International Inc., Mitsubishi Heavy Industries, Ltd., Siemens Energy, Eaton Aerospace and MAN Energy Solutions SE.