Azad Engineering Limited · NSE:AZAD
Azad Engineering — Q3 FY26 Earnings Presentation
35 slides from Azad Engineering's earnings presentation, Feb 13, 2026
Slide 1: Cover letter to stock exchanges: Investor Presentation
AZAD February 13,2026 To, To. The Listing Department The Listing Department BSE Limited National Stock Bxchange of India Limitetl Departrnent of Corporate Affairs Exchange Plaza,PlotNo. C/1, G Block Phiroze .leejeebhoy Towers, Dalal Street Bandra-Kurla Cornplex, Bandra (E) Murnbai- 400 001 Mumbai -
Slide 2: Azad Engineering Limited Investor Presentation February 2026
Azad Engineering Limited Investor Presentation February 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 Nine-Monthly Performance
9MFY26 vs 9MFY25 (standalone) Rs. 4,329.8 Mn Rs. 1,599.8 Mn Rs. 1,363.4 Mn Rs. 970.3 Mn 31.8% 38.4% 52.8% 55.3% Highest Ever 36.9% margin 31.5% margin 22.4% margin Quarterly and Revenue EBITDA PBT PAT Nine-Monthly Q3FY26 vs Q3FY25 (standalone) Performance Rs. 1,558.0 Mn Rs. 600.9 Mn Rs. 471.
Slide 6: Performance Highlights (standalone)
Performance Highlights (standalone) Azad continued its high growth trajectory and delivered an exceptional quarter with a topline of INR 1,558.0 million and both Energy and Oil & Gas and Rakesh Chopdar Aerospace & Defence business segments growing by 33% YoY. During 9MFY26, the company delivered top
Slide 7: Revenue Mix - Growth momentum building across segments (standalone)
Revenue Mix - Growth momentum building across segments (standalone) (Rs. Mn) % Revenue contribution Energy & Oil & Gas Aerospace & Defence Total Income* Exports Domestic 79.7% 81.6% 17.1% 17.0% 93.3% 92.9% 6.7% 7.1% 37.9% 34.9% 31.3% 4,634.8 3,531.8 31.2% 4,023.0 3,361.8 2,618.2 735.0 3,064.4 39.6%
Slide 8: Standalone Profit & Loss Account
Standalone Profit & Loss Account Particulars (Rs. Mn) Q3FY26 Q3FY25 YoY 9MFY26 9MFY25 YoY Revenue from Operations 1,558.0 1,185.9 31.4% 4,329.8 3,284.1 31.8% Key Highlights Consumption 132.0 157.6 472.0 470.8 ▪ Business has grown significantly with revenues Employee expenses 330.4 240.6 939.2 664.2
Slide 9: 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 10: Inaugurated three new lean facilities as part of proposed expansion
Inaugurated three new lean facilities as part of proposed expansion Lean Manufacturing Facility (Siemens Energy) at Tunikibollaram IP, Hyderabad Area: 7,200 sq. mts Inaugurated in September 2025 9
Slide 11: Inaugurated three new lean facilities as part of proposed expansion
Inaugurated three new lean facilities as part of proposed expansion Lean Manufacturing Facility (GE Vernova) at Tunikibollaram IP, Hyderabad Area: 7,600 sq. mts Inaugurated in April 2025 10
Slide 12: Inaugurated three new lean facilities as part of proposed expansion
Inaugurated three new lean facilities as part of proposed expansion Lean Manufacturing Facility (MHI) at Tunikibollaram, Hyderabad Area: 7,200 sq. mts Inaugurated in March 2025 11
Slide 13: Company Overview
Company Overview AZA SS
Slide 14: 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 15: 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 Electric Power Generation Welding Chamfers Nuclear Power Turbine – Turbin
Slide 16: Project and Life Critical Portfolio of Diversified Products (2/2)
Project and Life Critical Portfolio of Diversified Products (2/2) Aerospace Aerospace andDefence and DefenceIndustry Industry Product Category Products End-Use Industry/Application Housing, Compressor & Airfoils, Unison Rings, Arm, Levers Body, Assembly Aero Engine Assembly Mount Business Jet Aircra
Slide 17: 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 18: Critical Source Supplier to OEMs with High Global Market Penetration - 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 & Defence 1 • Opportunity to increase wallet
Slide 19: Critical Source Supplier to OEMs with High Global Market Penetration – 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 20: 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 21: Well-diversified Business with Global Operations Exports to 12+ Countries
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 9MFY26 Q3FY26 Domestic Domestic UK Switzerland 7.1% 8.9% Hungary Poland France Sweden Germany Italy 92.9% 91.1%
Slide 22: 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 Skilled workforce of 1,313+ personnel 1 Area Customers Existing facilities 4 facilities in Hyderabad 20,000 sq. mts Multi
Slide 23: 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 pic • Involved with Azad since 2003 with • Holds PhD (Ohio State University), • Previously worked with Wipro two decades of
Slide 24: 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 25: Way Forward
Way Forward AZA Ss
Slide 26: 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 27: Historical financials
Historical financials AZA SS
Slide 28: 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% 11.2% 14.4% 3.4% 17.2% 19.5% 4,529.3 1,645.7 +39.2% 3,407.7 885.3 +44.6% 1,174.5 +60.0% 2,516.8 585.8 1,944.7 795.4 631
Slide 29: Restated Standalone Statement of Profit and Loss
Restated Standalone Statement of Profit and Loss CAGR (FY21- (Rs. Mn) FY25 FY24 FY23 FY22 FY21 25) Revenue from Operations 4,529.3 3,407.7 2,516.8 1,944.7 1,205.1 39.2% Consumption 627.2 460.2 301.5 207.6 137.5 ▪ Non-recurring expenses include: Employee expenses 909.9 742.7 592.7 462.7 316.2 ▪ Fire
Slide 30: Restated Standalone Balance Sheet
Restated Standalone Balance Sheet Assets (Rs. Mn) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Equity and liabilities (Rs. Mn) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Non-current assets Equity Property, plant and equipment 4,010.2 2,545.4 2,096.8 1,374.3 1,140.6 Equity share capital 129.2 118.2 16.5 15.1 15.1 Othe
Slide 31: Restated Standalone Cash Flow Statement
Restated Standalone Cash Flow Statement (Rs. Mn) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Profit Before Taxes 1,260.2 807.9 131.9 386.7 190.9 Adjustments for Non Cash / Non Operating items 423.3 756.7 672.3 254.5 127.7 Operating profit before working capital changes 1,683.5 1,564.5 804.3 641.3 283.2 Chang
Slide 32: Restated Consolidated Statement of Profit and Loss
Restated Consolidated Statement of Profit and Loss Particulars (Rs. Mn) FY25 FY24 FY23 FY22 Revenue from Operations 4,573.5 3,407.7 2,516.8 1,944.7 Consumption 636.8 460.2 301.5 207.6 Employee expenses 928.7 742.7 592.7 462.7 Other Expenses 1,395.0 1,039.0 899.8 651.7 Reported EBITDA 1,613.1 1,165.9
Slide 33: Restated Consolidated Balance Sheet
Restated Consolidated Balance Sheet Assets (Rs. Mn) Mar-25 Mar-24 Equity and liabilities (Rs. Mn) Mar-25 Mar-24 Non-current assets Equity share capital 129.2 118.2 Property, plant and equipment 4,166.5 2,545.4 Other equity 13,808.7 6,332.4 Right-of-use assets 193.9 27.3 Equity attributable to the ow
Slide 34: Adj EBITDA & Reported EBITDA Bridge
Adj EBITDA & Reported EBITDA Bridge (Rs. Mn) FY25 FY24 FY23 FY22 FY21 (A) Adj EBITDA 1,645.7 1,174.5 795.4 631.5 376.3 (B) Non - Recurring Expenses Fire related expenses 0.0 0.0 63.0 0.0 0.0 Provision for credit impaired trade receivable 35.8 8.6 4.8 2.4 7.9 Professional and consultancy charges 0.0
Slide 35: 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