Precision engineering firm Azad Engineering has inaugurated an exclusive lean manufacturing facility dedicated to Mitsubishi Heavy Industries (MHI) at Tunikibollaram, Hyderabad.
The state-of-the-art facility, spanning 7,200 square meters, follows Azad’s ₹700 crore long-term contract and price agreement with MHI, signed in November 2024.
The new facility is set to manufacture critical rotating and stationary components for Mitsubishi’s advanced gas turbines catering to global markets. Initially employing 200 skilled professionals, Azad plans to significantly expand the workforce in the coming years.
The company emphasized that the plant is equipped with cutting-edge technology for high-precision component manufacturing and is integrated with Azad’s Centre for Excellence and Innovation, further strengthening India’s position in global manufacturing and engineering excellence.
Speaking at the launch event, Masahito Kataoka, Senior Vice President, of GTCC Business Division, Energy System, MHI, Japan, acknowledged Azad Engineering’s contribution to MHI’s gas and steam turbine production.
“Thanks to Team Azad’s exceptional technical capabilities and thorough quality control, MHI products consistently maintain high reliability and performance, significantly contributing to the realization of a decarbonised society,” Kataoka said.
In recognition of its excellence, MHI honoured Azad Engineering with the prestigious ‘Partner of the Year 2024’ award, acknowledging it as the best partner among over 1,000 suppliers worldwide. The award highlights Azad’s commitment to delivering high-quality engineering solutions and strengthening India’s role in the global industrial supply chain.
Stock Performance
On March 13, 2025, Azad Engineering share price traded 0.37% lower at ₹1,280.40 at 9:51 AM (IST). Azad Engineering’s share price reached a 52-week high of ₹2,080.00, and a 52-week low of ₹1,157.65. As per BSE, the total traded volume for the stock stood at 3,427 shares with a turnover of ₹44.01 lakhs.
At the current price, Azad Engineering shares are trading at a price-to-earnings (P/E) ratio of 106.81x, based on its trailing 12-month earnings per share (EPS) of ₹11.99, and a price-to-book (P/B) ratio of 12.11, according to exchange data.
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Published on: Mar 13, 2025, 9:59 AM IST
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