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The contract has been awarded by an international entity and will be executed over a long-term period extending up to December 2030.
The financial details or size of the order have not been disclosed by the company, citing confidentiality.
Azad Engineering clarified that the transaction does not involve any related party dealings, and neither the promoter nor promoter group entities have any interest in the awarding company.
Azad Engineering is engaged in the manufacturing of precision forged and machined components for clean energy, aerospace, defense, oil and gas, and standalone power supply (SPS) as required by OEMs with its manufacturing unit in Hyderabad.
The company’s consolidated net profit surged 46.4% to Rs 34.72 crore on a 31.7% increase in revenue from operations to Rs 158.72 crore in Q3 FY26 over Q3 FY25.
Shares of Azad Engineering surged 8.25% to end at Rs 2,108.55 on the BSE.
The agreement establishes a framework for long-term collaboration, aimed at enhancing Azad’s manufacturing capabilities in alignment with national aerospace and defense priorities. While the financial size and certain key terms of the agreement remain undisclosed due to confidentiality, the company clarified that no shareholding or related-party involvement exists between the two entities.
As part of the collaboration, Azad will support Pratt & Whitney Canada in the production of critical engine components, reinforcing India’s growing role as a trusted aerospace manufacturing hub. The arrangement does not involve issuance of shares, board nominations, or any potential conflict-of-interest scenarios, the company said.
The agreement, signed with an international entity, is classified as a long-term contract, although the execution timeline has also been withheld due to confidentiality obligations.
Azad noted that none of its promoters or promoter group companies have any interest in Pratt & Whitney Canada, and the engagement does not fall under related-party transactions.
Further details on amendments or termination conditions will be disclosed to exchanges as required, the company added.
The company’s consolidated net profit surged 55.8% to Rs 32.74 crore on a 30.6% increase in revenue from operations to Rs 145.63 crore in Q2 FY26 over Q2 FY25.
On a standalone basis, the company’s net profit advanced 22.14% to Rs 32.99 crore on a 28.06% increase in revenue from operations to Rs 142.67 crore in Q2 FY26 over Q2 FY25. EBITDA increased 29.2% to Rs 51.38 crore, from Rs 39.79 crore a year ago, with the EBITDA margin at 36%, slightly higher than 35.7% in Q2 FY25, reflecting operational efficiency and cost optimization.
Rakesh Chopdar, Chairman & CEO, Azad Engineering, said, “Today, we have three customer-specific plants that showcase our ability to align closely with our global OEMs and scale with agility. These plants are aligned with our customers in the energy and oil & gas space, resulting in a 35.7% growth in this segment’s revenues during H1FY26. Parallelly, the Aerospace & Defence segment registered a healthy 30.3% improvement on the back of the commercialization of new products.
Our order book position has further strengthened with the signing of Phase 2 of the Mitsubishi contract, which has a combined contract value of Rs 13,870 million. With this strong order book and a strategic plan for expansion, we anticipate even stronger performance in the second half of FY26 and remain confident in achieving our projected 25% to 30% topline growth for the year.”