Azad Engineering Q2 Revenue Up 27% YoY

Board Meeting Details

The Board of Directors meeting was held on Friday, August 7, 2026. The meeting commenced at 3:00 PM (IST) and concluded at 3:32 PM (IST).

Key Financial Results - Standalone (₹ Million)

Quarter Ended June 30, 2026 (Unaudited)

Revenue from operations: ₹1,705.19
Other income: ₹40.19
Total income: ₹1,745.38
Total expenses: ₹1,344.51
Cost of materials consumed: ₹425.47
Changes in inventories: (₹339.56)
Employee benefit expense: ₹406.56
Finance costs: ₹100.90
Depreciation and amortisation: ₹179.12
Other expenses: ₹572.02
Profit before tax: ₹400.87
Tax expense: ₹37.35
Current tax: ₹80.36
Deferred tax credit: (₹43.01)
Profit for the period: ₹363.52
Other comprehensive income (net of taxes): (₹1.92)
Total comprehensive income: ₹361.60
Earnings per share (₹): Basic ₹5.63 | Diluted ₹5.63 (not annualized)

Comparative Standalone Performance

| Q2 FY2026 | ₹1,705.19 | ₹400.87 | ₹363.52 | 5.63 |

| Q1 FY2026 | ₹1,573.92 | ₹491.40 | ₹351.29 | 5.44 |

| Q2 FY2025 | ₹1,345.12 | ₹424.29 | ₹299.94 | 4.64 |

| FY2026 (Audited) | ₹5,903.75 | ₹1,854.85 | ₹1,321.61 | 20.46 |

Key Financial Results - Consolidated (₹ Million)

Quarter Ended June 30, 2026 (Unaudited)

Revenue from operations: ₹1,725.99
Other income: ₹35.49
Total income: ₹1,761.48
Total expenses: ₹1,371.83
Cost of materials consumed: ₹432.48
Changes in inventories: (₹335.66)
Employee benefits expense: ₹417.43
Finance costs: ₹103.23
Depreciation expenses: ₹186.23
Other expenses: ₹568.12
Profit before tax: ₹389.65
Tax expense: ₹38.05
Current tax: ₹80.66
Deferred tax credit: (₹42.61)
Profit for the period: ₹351.60
Attributable to owners: ₹357.45
Attributable to non-controlling interest: (₹5.85)
Other comprehensive income (net of taxes): (₹1.64)
Total comprehensive income: ₹349.96
Attributable to owners: ₹355.67
Attributable to non-controlling interest: (₹5.71)
Earnings per share (₹): Basic ₹5.53 | Diluted ₹5.53 (not annualized)

Comparative Consolidated Performance

| Q2 FY2026 | ₹1,725.99 | ₹389.65 | ₹351.60 | 5.53 |

| Q1 FY2026 | ₹1,615.39 | ₹512.35 | ₹368.05 | 5.57 |

| Q2 FY2025 | ₹1,370.92 | ₹418.67 | ₹294.32 | 4.56 |

| FY2026 (Audited) | ₹6,029.75 | ₹1,873.06 | ₹1,335.63 | 20.57 |

Subsidiaries Included in Consolidation

The consolidated financial results include results of the following subsidiaries:

1. Azad VTC Private Limited

2. Azad Prime Private Limited

Capital Structure

Paid-up equity share capital: ₹129.16 million (Face value ₹2 each fully paid-up)
Other equity (Standalone): ₹15,390.62 million (as of March 31, 2026)
Other equity (Consolidated): ₹15,159.82 million (as of March 31, 2026)

QIP Proceeds Utilization

The net unutilized QIP proceeds were temporarily invested in deposits with commercial banks. Interest earned on such deposits are in the monitoring account/fixed deposits.

Business Segment Information

The operations of the Company predominantly relate to the manufacture and sale of high precision and OEM components. There is only one primary reportable segment as per Ind AS 108 "Operating Segments".

Employee Stock Option Scheme

The Company granted 80,000 options to eligible employee(s) under the Employee Stock Option Scheme on May 12, 2026. Each option provides the right to apply for one equity share of face value of ₹2 each at an exercise price of ₹1,050.

Auditor Review

Both standalone and consolidated financial results were reviewed by MSKA & Associates LLP (formerly known as M S K A & Associates), Chartered Accountants. The auditors issued a limited review report stating that nothing has come to their attention that causes them to believe that the statements contain any material misstatement.