Azad Engineering Limited (IN:AZAD)
:AZAD
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Azad Engineering Limited
(AZAD)
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Rating:59Neutral
Price Target:
₹2,116.00
▲(25.29% Upside)
Action:Reiterated
Date:05/22/26
The score is anchored by strong growth and profitability with a healthier balance sheet, but is materially held back by weak cash generation (negative operating and free cash flow). Technicals are supportive due to the uptrend above major moving averages, while the high P/E and lack of dividend yield data weigh on valuation support.
Positive Factors
Sustained Revenue Growth
Material top-line scaling over multiple years and re-acceleration in 2026 signals durable demand and expanding market penetration. This supports operating leverage, broader customer relationships and funds strategic reinvestment over the medium term.
Negative Factors
Weak Cash Generation
Persistent negative operating and free cash flow despite reported profits raises execution and cash‑conversion risk. The company may need external funding for operations or capex, constraining returns to shareholders and limiting financial optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Material top-line scaling over multiple years and re-acceleration in 2026 signals durable demand and expanding market penetration. This supports operating leverage, broader customer relationships and funds strategic reinvestment over the medium term.
Read all positive factors
Azad Engineering Limited (AZAD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹135.32B
Dividend YieldN/A
Average Volume (3M)26.96K
Price to Earnings (P/E)100.5
Beta (1Y)1.58
Revenue Growth31.84%
EPS Growth40.54%
CountryIN
Employees1,212
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)17.83
Shares Outstanding64,581,740
10 Day Avg. Volume14,118
30 Day Avg. Volume26,964
Financial Highlights & Ratios
PEG Ratio1.79
Price to Book (P/B)6.27
Price to Sales (P/S)15.90
P/FCF Ratio-13.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)26.48
Revenue Forecast (FY)₹8.08B
Azad Engineering Limited Business Overview & Revenue Model
Company Description
Azad Engineering Limited, established in Hyderabad, India, in 1983, specializes in the manufacturing and distribution of high-precision engineered components crafted through advanced forging and machining processes. Their comprehensive product por...
How the Company Makes Money
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Azad Engineering Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
74
Positive
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.17B | 6.03B | 4.44B | 3.28B | 2.42B | 1.85B |
| Gross Profit | 3.51B | 3.56B | 3.26B | 2.48B | 1.84B | 1.40B |
| EBITDA | 2.12B | 2.71B | 1.64B | 1.34B | 564.11M | 619.75M |
| Net Income | 1.12B | 1.33B | 873.18M | 585.80M | 84.73M | 294.57M |
Balance Sheet | ||||||
| Total Assets | 19.55B | 22.00B | 18.61B | 7.97B | 5.89B | 4.04B |
| Cash, Cash Equivalents and Short-Term Investments | 3.48B | 1.85B | 468.85M | 587.62M | 400.06M | 113.98M |
| Total Debt | 3.12B | 4.74B | 2.63B | 394.33M | 3.01B | 1.97B |
| Total Liabilities | 4.78B | 6.71B | 4.68B | 1.52B | 3.85B | 2.84B |
| Stockholders Equity | 14.79B | 15.29B | 13.94B | 6.45B | 2.04B | 1.20B |
Cash Flow | ||||||
| Free Cash Flow | -3.83B | -6.91B | -2.40B | -822.89M | -958.31M | -962.08M |
| Operating Cash Flow | -758.90M | -1.19B | 536.67M | -69.49M | -102.09M | 209.39M |
| Investing Cash Flow | 345.26M | -714.22M | -9.18B | -552.55M | -1.01B | -1.14B |
| Financing Cash Flow | 321.52M | 1.74B | 8.77B | 709.87M | 1.26B | 959.11M |
Azad Engineering Limited Technical Analysis
Positive
1688.85
Price Trends
2057.66
Positive
1808.55
Positive
1717.63
Positive
Market Momentum
22.81
Positive
50.01
Neutral
21.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:AZAD, the sentiment is Positive. The current price of 1688.85 is below the 20-day moving average (MA) of 2111.11, below the 50-day MA of 2057.66, and below the 200-day MA of 1717.63, indicating a neutral trend. The MACD of 22.81 indicates Positive momentum. The RSI at 50.01 is Neutral, neither overbought nor oversold. The STOCH value of 21.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:AZAD.
Azad Engineering Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹1.62T | 68.75 | ― | 1.14% | 16.87% | 18.09% | |
73 Outperform | ₹126.74B | 46.36 | ― | 0.97% | 8.94% | 21.12% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | ₹19.72B | 38.50 | ― | 0.30% | 14.36% | -1.40% | |
59 Neutral | ₹135.32B | 100.48 | ― | ― | 31.84% | 40.54% | |
54 Neutral | ₹68.01B | 28.45 | ― | 0.59% | 6.14% | -4.01% | |
52 Neutral | ₹342.85B | 66.44 | ― | 0.51% | 3.63% | -10.72% |
* Industrials Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.