Azad Engineering (AZAD) Q4 24/25 earnings summary

Executive summary

• Achieved record annual and quarterly financial results in FY25, with Q4 revenue up 34.2% year-on-year to INR 125 crores and EBITDA at INR 45 crores (36.5% margin), surpassing guidance through strategic execution and expansion.

• Net profit for Q4 FY25 rose 74.4% year-on-year to INR 26 crores; FY25 PAT reached INR 89 crores, up 51.1% year-on-year.

• Secured major orders from global OEMs, expanding the order book to over INR 6,000 crores and reinforcing market leadership.

• Export revenue share rose to 91.9% in FY25, reflecting global diversification and strong international demand.

• Commissioned new facilities for Mitsubishi and GE Vernova, supporting a tenfold capacity increase.

Financial highlights

• FY25 revenue from operations grew 32.9% year-on-year to INR 453 crores; Q4 FY25 revenue was INR 124.5 crores, up 34.2% year-on-year.

• FY25 EBITDA reached INR 161 crores (35.5% margin), highest ever for the company; Q4 EBITDA was INR 45.4 crores (36.5% margin), up 44.9% year-on-year.

• FY25 PAT was INR 88.5 crores (19.5% margin), up 51.5% year-on-year; PAT margin expanded by 230 bps.

• Net cash from operating activities at INR 56 crores for FY25; significant capex and financing activities undertaken.

• Basic EPS (standalone) for FY25 was INR 14.87, up from INR 11.20 in FY24.

Outlook and guidance

• Targeting 30%+ revenue growth for FY26, driven by new capacity, robust order pipeline, and sustainable margins.

• EBITDA margin expected to remain consistent with FY25 levels.

• Focus on stabilization and ramp-up of new facilities, with further growth anticipated as capacity utilization increases.