Azad Engineering Gets ₹52.68 Crore BHEL Contract; Shares Trade Higher

Mumbai, October 13: Azad Engineering Limited has been approved as a long-term source by Bharat Heavy Electricals Limited (BHEL) and awarded a two-year Long Term Rate Contract worth approximately ₹52.68 crore for supplying critical airfoils used in heavy-duty gas turbines.

The domestic contract covers stator vanes and rotor blades, components that play an important role in gas turbine operations. The company said the approval supports BHEL’s efforts to indigenise the supply of critical gas turbine components.

According to Azad Engineering’s exchange disclosure, the contract involves the supply of stator vanes and rotor blades for gas turbines. The agreement is domestic and is scheduled to run until October 9, 2028.

The company said it had executed a similar rate contract in May 2026. At the time, the earlier contract was assessed as not material from a business perspective and was not disclosed separately. The combined value and duration of the arrangement have now made the engagement material, prompting the latest disclosure.

The contract strengthens Azad Engineering’s position in the domestic power generation equipment supply chain, with BHEL identified as the awarding entity. The company also confirmed that the awarding entity has no promoter or promoter-group interest in Azad Engineering and that the contract is not a related-party transaction.

Stock Market Snapshot

The Azad Engineering share price stood at ₹2,969.00 as of 10:20 AM IST on October 13, 2026, according to the market data.

The stock was up ₹0.60, or 0.02%, at the time. Shares fluctuated during the morning session before settling near ₹2,969 in the latest available snapshot.

The contract disclosure and the share price movement occurred around the same period, although the available information does not establish a direct link between the announcement and the stock’s performance.

Contract Supports Domestic Power Equipment Manufacturing

Azad Engineering manufactures precision-engineered components for sectors including power generation, aerospace and defence. Its work includes components that require specialised manufacturing capabilities and compliance with demanding technical specifications.

The latest BHEL contract adds to the company’s involvement in India’s power equipment ecosystem. The supply of stator vanes and rotor blades is also aligned with the broader push to develop domestic sources for components used in heavy-duty gas turbines.

The company’s disclosure places the estimated contract value at approximately ₹52.68 crore, with supply obligations extending through October 9, 2028.

Conclusion

Azad Engineering’s two-year contract with BHEL provides a defined supply engagement for critical gas turbine components and builds on an earlier rate contract between the companies. The arrangement also reinforces the role of domestic manufacturers in supplying specialised equipment for India’s power generation sector.

Azad Engineering shares were trading at ₹2,969.00, up 0.02%, as of 10:20 AM IST on October 13, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/AZAD/Azad-Engineering-Limited
• https://nsearchives.nseindia.com/corporate/AZAD2356_12102026154351_Covering.pdf