Industrial Machinery company Azad Engineering announced Q1FY25 results: Revenue: Rs 984.1 million, up by 29.6% YoY Adjusted EBITDA: Rs 339.2 million, up by 28.8% YoY PAT: Rs 171.3 million, up by 131.5% YoY Rakesh Chopdar, Chairman & CEO of the firm said, “Q1FY25 was an outstanding quarter for Azad, with revenue (Rs984.1 Mn) and profitability (Adjusted EBITDA – Rs 339.2 million and PAT – Rs 171.3 million) at record levels. On a YoY basis, the topline grew by 29.6%, adjusted EBITDA increased by 28.8%, and PAT expanded to more than double levels. As per our expectations, the aerospace and defense business has taken off well during the quarter, revenues in Q1FY25 crossing three times the level of Q1FY24. With the first article inspection coming in, we have started commercial production on the oil and gas side, and we expect this to unfold in a big way in FY25 and onwards. We have signed prestigious contracts with Siemens Energy Global and GTRE / DRDO under Ministry of Defence, which are a reflection of Azad’s strategic importance in the domestic and global supply chains. Additionally, we have incrementally added capabilities from component manufacturing to supplying jet engine assemblies, AZAD has moved up the value chain and expanded its TAM significantly. As a part of capability enhancement, we have also acquired the assets of Leo Primecomp Private Limited, which will help us expand the growing requirements in heavy machining to our manufacturing capabilities and consolidate our position in the nuclear, gas, thermal, and oil and gas sectoRs Our strong growth across segments and geographies, coupled with new order wins, is a testament to the trust that Azad has gained with its several years of hard work. We are maintaining our legacy in niche mission-critical components across sectors beyond Nuclear, Energy, Aerospace, Defence, and Oil & Gas where Azad is already an established and proven name.” Result PDF
Conference Call with Azad Engineering Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.