Rs 4,500 Crore Order Book: Gas Turbine Engines Manufacturer Inaugurates Exclusive Lean Manufacturing Facility
The stock is up by 42 per cent from its 52-week low of Rs 1,128.40 per share.
Azad Engineering has inaugurated a new lean manufacturing facility at its Centre of Excellence & Innovation Centre in Tunikibollaram, Hyderabad. This facility is designed to meet the capacity commitments of GE Vernova’s Steam Power Services business unit, marking a significant expansion of their strategic relationship. The inauguration ceremony was attended by senior leadership from GE Vernova's Steam Power Services, including Rodolfo Torres, Ankur Chandak, Martin Schaefer, Akhona Qabaka, Carly Lorence, and Rakesh Chopdar, Chairman and CEO of Azad Engineering.
The new 7,600 sq. mts. facility represents a major milestone for Azad Engineering, evolving from a small operation in 2013 to a world-class manufacturing centre. This evolution involved years of rigorous qualification processes, technological advancements, and a strong commitment to excellence. The company overcame numerous engineering challenges, invested in specialised equipment and skills development, and demonstrated exceptional perseverance through demanding qualification trials, consistently meeting stringent quality standards and complex manufacturing requirements.
This lean manufacturing facility is a strategic investment by Azad Engineering to expand its manufacturing capabilities and strengthen its partnerships with global OEMs across various sectors, including aerospace, defence, energy and oil & gas. The facility currently employs over 180 skilled professionals and is expected to create several hundred more jobs in the future. It features cutting-edge technology for producing high-precision components and incorporates lean principles to enhance productivity, further solidifying India's position in global manufacturing.
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About the Company
Azad Engineering Ltd, founded in 1983, is a manufacturer of crucial components for the aerospace, defence, energy and oil and gas industries. Their expertise lies in creating highly engineered, complex and mission-critical parts like 3D rotating airfoils and blades for turbine engines, along with other vital components for gas, nuclear and thermal turbines. They supply these precision-forged and machined parts to leading global original equipment manufacturers (OEMs), including General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace and MAN Energy Solutions SE.
The company has a market cap of over Rs 10,000 crore and as of September 30, 2024, the company has an order book worth Rs 4,500 crore. The stock’s 52-week high is Rs 2,080 per share and its 52-week low is Rs 1,128.40 per share. The stock is up by 42 per cent from its 52-week low of Rs 1,128.40 per share. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.