Azad Engineering Limited — Q2FY27 earnings call summary

Filed 14 November 2026 · Official transcript

Capacity fully commissioned; revenue ramp-up starts Q4 FY27, full ramp by Q2 FY28
Manpower cost front-loaded for capacity ramp-up; automation and lean manufacturing planned
Q2 FY27 standalone revenue 187.8cr +31.6% y-y; EBITDA 70.4cr +37.1%, margin 37.5% (+150bps); PAT 30.8cr, margin 16.4%
H1 FY27 revenue 358cr +29.3%, EBITDA 134.5cr +34.7%, PAT 67.2cr +6.6%
Annual revenue run rate target >1300cr by FY28; long-term growth guidance >25% p.a.
Capex of 251cr capitalized; depreciation and finance cost increased; EBITDA covers finance cost 5.8x
Aerospace qualification ongoing with Rolls-Royce, Pratt & Whitney, Safran; aero revenue to grow post FY28
Order book/contracts ~6500cr rolling over 5-7 years; not backlog but multi-year demand visibility