Slide 1: Cover letter to stock exchanges
AZAD May 15,2026 To, To, The Listing Departrnent The Listing Department BSE Limited National Stock Exchange of India Limitetl Department of Corporate Affairs Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers, Dalal Street Bandra-Kurla Cornplex, Bandra (E) Murnbai - 400 00 t Munrbai - 4
Slide 2: Azad Engineering Limited Investor Presentation
Azad Engineering Limited Investor Presentation May 2026
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Azad Engineering Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Performance Update
Performance Update AZA SS
Slide 5: Highest Ever Quarterly and Annual Performance (Consolidated)
FY26 vs FY25 (Consolidated) Rs. 6,029.8 Mn Rs. 2,253.1 Mn Rs. 1,873.1 Mn Rs. 1,335.6 Mn 31.8% 39.7% 51.0 % 54.4% Highest Ever 37.4% margin 31.1% margin 22.2% margin Quarterly and Revenue EBITDA PBT PAT Annual Q4FY26 vs Q4FY25 (Consolidated) Performance Rs. 1,615.4 Mn Rs. 613.2 Mn Rs. 512.4 M
Slide 6: Highest Ever Quarterly and Annual Performance (Standalone)
FY26 vs FY25 (standalone) Rs. 5,903.8 Mn Rs. 2,177.5 Mn Rs. 1,854.9 Mn Rs. 1,321.6 Mn 30.3% 35.3% 47.2% 49.3% Highest Ever 36.9% margin 31.4% margin 22.4% margin Quarterly and Revenue EBITDA PBT PAT Annual Q4FY26 vs Q4FY25 (standalone) Performance Rs. 1,573.9 Mn Rs. 577.6 Mn Rs. 491.4 Mn Rs.
Slide 7: Performance Highlights (standalone)
Performance Highlights (standalone) “FY26 was a year of clear focus on consolidation and stabilization - embedding newly commissioned capacities, strengthening OEM qualifications, and building the human capital foundation for the next phase of growth. From a financial perspective, Q4 FY26 was anothe
Slide 8: Revenue Mix - Growth momentum building across segments
Revenue Mix - Growth momentum building across segments (standalone) (Rs. Mn) % Revenue contribution Energy & Oil & Gas Aerospace & Defence Revenue from Operations* Exports Domestic 79.2% 81.5% 17.8% 17.2% 91.9% 93.0% 8.1% 7.0% 30.3% 34.2% 31.9% 5,903.8 4,811.3 25.4% 5,490.8 4,529.3 3,586.3 1,012.6 4
Slide 9: Inaugurated Four Dedicated Facilities at Tunikibollaram Industrial Park
Inaugurated Four Dedicated Facilities at Tunikibollaram Industrial Park, Hyderabad Mitsubishi Heavy Industries GE Vernova (Steam Power) 1 2 7,200 sq.m · Inaugurated March 2025 7,600 sq.m · Inaugurated April 2025 2 Siemens Energy Baker Hughes 3 4 7,200 sq.m · Inaugurated September 2025 7,600 sq.m · I
Slide 10: Orders that are driving AZAD's growth journey
Orders that are driving AZAD’s growth journey Arabelle Solutions BHEL Baker Hughes GE Vernova GTRE Signed a supply agreement for the Secured a purchase order from Bharat Signed an MoU to setup a facility to manufacture and Secured agreement to supply of highly Secured a prestigious nation pride supp
Slide 11: Standalone Profit & Loss Account
Standalone Profit & Loss Account Particulars (Rs. Mn) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY Revenue from 1,573.9 1,245.2 26.4% 1,558.0 1.0% 5,903.8 4,529.3 30.3% Operations Consumption 98.4 156.5 132.0 570.4 627.2 Key Highlights Employee expenses 371.0 245.7 330.4 1,310.2 909.9 ▪ Record quarter
Slide 12: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Mn) Mar-26 Mar-25 Equity and liabilities (Rs. Mn) Mar-26 Mar-25 Non-current assets Equity Equity share capital 129.2 129.2 Property, plant and equipment 7,447.7 4,010.2 Other equity 15,390.6 14,046.9 Right of use assets 113.1 131.3 Total equity (A) 15,519.8 14,17
Slide 13: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Mn) Mar-26 Mar-25 Profit Before Taxes 1,854.9 1,260.2 Adjustments for Non Cash / Non Operating items 402.2 423.3 Operating profit before working capital changes 2,257.0 1,683.5 Changes in working capital -3,003.0 -879.5 Cash generated from operations -
Slide 14: Company Overview
Company Overview AZA NS
Slide 15: Azad Engineering Ltd.: Snapshot
Azad Engineering Ltd.: Snapshot Preferred name in the manufacturing of highly-engineered, complex and mission & life-critical components Supplying to highly regulated industries having large Direct TAM and significant entry barriers End-markets with massive TAM CY29 Aerospace & Defence INR 2,190 bn
Slide 16: Project and Life Critical Portfolio of Diversified Products (1/2)
Project and Life Critical Portfolio of Diversified Products (1/2) Energy and Oil & Gas Industry Product Category Products End-Use Industry/Application Last Stage Airfoil – Rotary & Fixed Airfoil Last Stage Airfoil - Stationary Welding Chamfers Electric Power Generation Nuclear Power Turbine – Turbin
Slide 17: Project and Life Critical Portfolio of Diversified Products (2/2)
Project and Life Critical Portfolio of Diversified Products (2/2) Aerospace Aerospace and and Defence Defence Industry Industry Product Category Products End-Use Industry/Application Housing, Compressor & Airfoils, Unison Rings, Arm, Levers Body, Assembly Aero Engine Assembly Mount Business Jet Airc
Slide 18: Significant Entry Barriers at Each Stage
Significant Entry Barriers at Each Stage Azad has delivered over 3 million mission critical parts with Zero parts per million defects requirement to its customers. Demonstrated efficiencies pursuant to machining time reduction and adherence to strict quality, resulting in competitive strength agains
Slide 19: Critical Source Supplier to OEMs - Aerospace & Defence
Critical Source Supplier to OEMs with High Global Market Penetration - Aerospace & Defence Azad is a supplier to six of the key manufacturers in aerospace and defence industry Addressable market Growth Drivers Key components used in an aircraft Aerospace & Defence1 • Opportunity to increase wallet s
Slide 20: Critical Source Supplier to OEMs – Energy Turbine Industries
Critical Source Supplier to OEMs with High Global Market Penetration – Energy Turbine Industries Azad, being a critical components supplier, is a key link in the global supply chain for the OEMs Azad’s customer market share in Global turbine components1 Rs. 310 Bn Supplier to five of the key manufac
Slide 21: Long-standing and Deep Customer Relationships With OEMs
Long-standing and Deep Customer Relationships With OEMs As a strategic and growth partner to customers across highly regulated industries, Azad enjoys long-term relationships with high customer stickiness and a high percentage of repeat business, which allows us to have long-term contracts, a stable
Slide 22: Well-diversified Business with Global Operations
Well-diversified Business with Global Operations Azad caters to multiple customers across the globe has average relationship for over 10 years with key customers Standalone Revenue Breakup FY26 Q4FY26 UK Switzerland Domestic Domestic Hungary Poland 7.0% 6.7% France Sweden Germany Italy 93.0% 93.3% E
Slide 23: Advanced Manufacturing Facilities With Focus on Innovation and Cost Competitiveness
Advanced Manufacturing Facilities With Focus on Innovation and Cost Competitiveness Azad’s all facilities (except which are earmarked for specific clients) are fungible in nature Area Customers Existing facilities 4 facilities in Hyderabad 20,000 sq. mts Multiple customers Phase 1- ~94,899 sq. mts (
Slide 24: Experienced Promoter, Board of Directors and Key Management team
Experienced Promoter, Board of Directors and Key Management team…. Rakesh Chopdar Murli Krishna Bhupatiraju Vishnu Malpani Chairman & CEO Managing Director Whole-Time Director • Associated with Azad since 2003, • Holds PhD (Ohio State University), • Associated with Azad for over 4 years with two dec
Slide 25: Unique positioning of Azad
Best-in-class engineering portfolio lending a strong moat with significant entry barriers Supplier of choice to highly regulated industries Producer of mission critical components; High complexity and precision requirements Long haul journey with vendor qualifications taking up to 30-48 months
Slide 26: Way Forward
Way Forward AZA SS
Slide 27: Key Strategies Going Forward
Key Strategies Going Forward • Wallet share gains driving revenue from existing long-standing clients Increasingly catering to diverse component needs for clients, reflected in growing order book across key clientsMultiple customers • Utilizing existing product and technology capabilities to serve n
Slide 28: Historical financials
Historical financials acADS
Slide 29: Consistent Track Record of Financial Performance (Standalone)
Consistent Track Record of Financial Performance (Standalone) Margin Revenue From Operations Adj. EBITDA* & EBITDA Margin PAT and PAT Margin In Rs. Mn 31.2% 32.5% 31.6% 34.5% 36.3% 37.2% 11.2% 14.4% 3.4% 17.2% 19.5% 22.4% 5,903.8 2,195.4 +37.4% 4,529.3 1,321.6 +42.3% 1,645.7 3,407.7 +57.8% 1,174.5 8
Slide 30: Restated Standalone Statement of Profit and Loss
Restated Standalone Statement of Profit and Loss CAGR (Rs. Mn) FY26 FY25 FY24 FY23 FY22 FY21 (FY21- 25) Revenue from Operations 5,903.8 4,529.3 3,407.7 2,516.8 1,944.7 1,205.1 37.4% Consumption 570.4 627.2 460.2 301.5 207.6 137.5 ▪ Non-recurring expenses include: Employee expenses 1,310.2 909.9 742.
Slide 31: Restated Standalone Balance Sheet
Restated Standalone Balance Sheet Assets (Rs. Mn) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Equity and liabilities (Rs. Mn) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Non-current assets Equity Property, plant and equipment 7,447.7 4,010.2 2,545.4 2,096.8 1,374.3 1,140.6 Equity share capital 129.2 129
Slide 32: Restated Standalone Cash Flow Statement
Restated Standalone Cash Flow Statement (Rs. Mn) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Profit Before Taxes 1,854.9 1,260.2 807.9 131.9 386.7 190.9 Adjustments for Non Cash / Non Operating items 402.2 423.3 756.7 672.3 254.5 127.7 Operating profit before working capital changes 2,257.0 1,683.5 1,
Slide 33: Restated Consolidated Statement of Profit and Loss
Restated Consolidated Statement of Profit and Loss Particulars (Rs. Mn) FY26 FY25 FY24 FY23 FY22 Revenue from Operations 6,029.8 4,573.5 3,407.7 2,516.8 1,944.7 Consumption 581.2 636.8 460.2 301.5 207.6 Employee expenses 1,355.2 928.7 742.7 592.7 462.7 Other Expenses 1,840.2 1,359.2 1,030.3 826.8 64
Slide 34: Restated Consolidated Balance Sheet
Restated Consolidated Balance Sheet Assets (Rs. Mn) Mar-26 Mar-25 Mar-24 Equity and liabilities (Rs. Mn) Mar-26 Mar-25 Mar-24 Non-current assets Equity Property, plant and equipment 7,632.3 4,166.5 2,545.4 Equity share capital 129.2 129.2 118.2 Other equity 15,159.2 13,801.0 6,332.4 Right of use ass
Slide 35: Adj EBITDA & Reported EBITDA Bridge
Adj EBITDA & Reported EBITDA Bridge (Standalone Rs. Mn) FY26 FY25 FY24 FY23 FY22 FY21 (A) Adj EBITDA 2,195.5 1,645.7 1,174.5 795.4 631.5 376.3 (B) Non - Recurring Expenses Fire related expenses 0 0.0 0.0 63.0 0.0 0.0 Provision for credit impaired trade receivable 17.9 35.8 8.6 4.8 2.4 7.9 Profession
Slide 36: For more information Please contact
For more information Please contact: Company: Investor Relations Advisor: Azad Engineering Limited: Strategic Growth Advisors Pvt Ltd. CIN: L74210TG1983PLC004L32 CIN: U74140MH2010PTC204285 Mr. Praneeth Abhishek Gunda, Company Shikha Puri / Srushti Pathak Secretary & Compliance Officer Email id: shik