On Monday, the share price of the company rose by 10.2% and hit its 52 week high of ₹745.55 per share from its previous close of ₹676.3 per share after the company received an order from Rolls Royce plc.
According to the exchange filing, Rolls-Royce has signed a seven-year contract with Azad Engineering Limited to produce/supply critical engine parts for their defence / military aircraft engines on January 29, 2024.
Rolls-Royce plc is a British multinational corporation that designs and manufactures complex power and propulsion systems for safety-critical applications in the air, sea, and on land. Aerospace, defense, energy, and marine are among the industries that benefit from the company’s products and services.
Looking at their financials, the company’s net revenue has increased 29% YoY from ₹194.4 crores to ₹251.6 crores in FY22-23. The net profit of the company rose by 224% YoY from ₹8.5 crores to ₹27.6 crores, in FY 22-23.
Azad Engineering Limited share price rose by 7.7% since the company listed in the market on 28 December 2023.
WIth a market capitalization of 4,280 crores it is a small cap company, promoter of the company owns 86.51%, the general public owns 13.49%.
The company has a return on equity of 5.23%, a return on capital employed of 16%, a net profit margin of 3.37%, and the company has debt to equity ratio of 1.42.
Azad Engineering Limited, founded in 1983, is a manufacturer of aerospace components and turbines that supply original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas sectors.
Written by Sriram KV
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