Azad Engineering Q4 FY26 Profit Rose to ₹351.29 Crore

May 15, 2026 4 mins read Firehose Gupta

Azad Engineering Limited — quarter and year ended March 31, 2026

SNo	Particulars	Quarter Ended			Year Ended
		March 31, 2026 [Refer Note 6]	December 31, 2025 [Unaudited]	March 31, 2025 [Refer Note 6]	March 31, 2026 [Audited]	March 31, 2025 [Audited]
I	Income:
	Revenue from operations	1,573.92	1,558.04	1,245.19	5,903.75	4,529.28
II	Other income	170.40	86.22	37.79	475.33	115.49
III	Total income (I+II)	1,744.32	1,644.26	1,282.98	6,379.08	4,644.77
IV	Expenses:
	Cost of materials consumed	303.24	390.27	291.42	1,282.43	1,034.30
	Changes in inventories of finished goods, work-in-progress and scrap inventory	(204.80)	(258.28)	(134.94)	(712.00)	(407.06)
	Employee benefits expense	371.04	330.42	245.72	1,310.21	909.92
	Finance costs	96.27	80.56	35.99	297.07	179.36
	Depreciation expenses	160.37	135.52	88.30	500.89	285.91
	Other expenses	526.80	494.75	388.62	1,845.63	1,382.17
	Total expenses	1,252.92	1,173.24	915.11	4,524.23	3,384.60
V	Profit before tax for the period/year (III-IV)	491.40	471.02	367.87	1,854.85	1,260.17
VI	Tax expenses
	Current tax	52.25	70.12	39.88	320.89	307.73
	Tax expense pertaining to earlier year	–	(3.96)	19.69	(3.96)	19.69
	Deferred tax charge / (credit)	87.86	64.43	47.96	216.31	47.50
	Total tax expense	140.11	130.59	107.53	533.24	374.92
VII	Profit for the period/year (V-VI)	351.29	340.43	260.34	1,321.61	885.25
VIII	Other comprehensive income (net of taxes)
	Items that will not be reclassified subsequently to profit and loss
	Remeasurement gains / (losses) on defined benefit plans	5.71	(7.24)	3.28	(0.39)	(1.32)
	Deferred Tax relating to above items	(1.67)	2.11	(0.96)	0.11	0.38
	Total other comprehensive income/(loss) for the period/year	4.04	(5.13)	2.32	(0.28)	(0.94)
IX	Total comprehensive income for the period/year (VII+VIII)	355.33	335.30	262.66	1,321.33	884.31
X	Paid up equity share capital (Face value ₹2/- each fully paid up)	129.16	129.16	129.16	129.16	129.16
XI	Other equity				15,390.62	14,046.87
XII	Earnings per equity share (Face value ₹ 2 each fully paid up)
	(1) Basic (in ₹)*	5.44	5.27	4.28	20.46	14.87
	(2) Diluted (in ₹)*	5.44	5.27	4.28	20.46	14.87

Particulars	As at March 31, 2026 [Audited]	As at March 31, 2025 [Audited]
ASSETS
Non-current assets
Property, plant and equipment	7,447.73	4,010.20
Right-of-use assets	113.08	131.33
Capital work-in-progress	2,566.82	797.80
Financial assets
(i) Investments	0.20	0.20
(ii) Loans	196.41	188.88
(iii) Other financial assets	450.31	316.43
Other non-current assets	1,340.51	1,190.40
Total non-current assets	12,115.06	6,635.24
Current assets
Inventories	3,266.32	1,884.83
Financial assets
(i) Trade receivables	3,092.38	2,215.82
(ii) Cash and cash equivalents	235.82	403.75
(iii) Bank balances other than (ii) above	1,599.99	6,555.44
(iv) Other financial assets	88.77	40.41
Other current assets	1,553.00	809.79
Total current assets	9,836.28	11,910.04
Total assets	21,951.34	18,545.28
EQUITY AND LIABILITIES
Equity
Equity share capital	129.16	129.16
Other equity	15,390.62	14,046.87
Total equity	15,519.78	14,176.03
LIABILITIES
Non-current liabilities
Financial liabilities
(i) Borrowings	2,783.39	1,679.02
(ia) Lease liabilities	112.52	123.65
Provisions	59.81	45.89
Deferred tax liabilities (net)	490.57	274.38
Total non-current liabilities	3,446.29	2,122.94
Current liabilities
Financial liabilities
(i) Borrowings	1,732.41	704.35
(ia) Lease liabilities	11.94	10.45
(ii) Trade payables
(a) total outstanding dues of micro and small enterprises	180.10	299.81
(b) total outstanding dues of creditors other than micro and small enterprises	683.26	489.77
(iii) Other financial liabilities	314.48	493.27
Provisions	8.15	6.25
Other current liabilities	45.93	63.77
Current tax liabilities (net)	9.00	178.64
Total current liabilities	2,985.27	2,246.31
Total liabilities	6,431.56	4,369.25
Total equity and liabilities	21,951.34	18,545.28

Particulars	For the year ended March 31, 2026 [Audited]	For the year ended March 31, 2025 [Audited]
A. Cash flow from operating activities
Profit before tax	1,854.85	1,260.17
Adjustments for:
Depreciation expenses	500.89	285.91
Finance costs	297.07	179.36
Net unrealized foreign exchange gain (net)	(158.43)	(15.72)
Provision for credit impaired trade receivable	17.87	35.76
Interest income	(247.28)	(61.98)
Allowance for impairment of advances	6.06	–
Liabilities no longer required written back	(14.00)	–
Operating profit before working capital changes	2,257.03	1,683.50
Changes in working capital
Adjustments for (increase) / decrease in operating assets:
Trade receivables	(731.68)	(536.80)
Inventories	(1,381.49)	(555.20)
Other financial assets	6.99	(3.88)
Other assets	(746.52)	(221.68)
Trade payables	81.43	290.94
Other financial liabilities	(229.39)	159.01
Provision for employee benefits	15.54	11.80
Other liabilities	(17.85)	(23.69)
Cash (used) in/generated from operating activities	(745.94)	804.00
Income taxes paid (net of refund)	(486.69)	(175.15)
Net cash flow (used) in /flow from operating activities (A)	(1,232.63)	628.85
B. Cash flows from investing activities
Purchase of property, plant and equipment (including capital work in progress and capital advances)	(5,707.07)	(2,751.29)
Inter corporate loan given to subsidiaries	(7.53)	(188.88)
Deposits (placed)/ matured with banks (net)	4,796.42	(6,223.20)
Interest income received	217.08	4.26
Advance towards purchase of Investments	–	(73.24)
Investment in subsidiaries	–	(0.20)
Net cash flow used in investing activities (B)	(701.10)	(9,232.55)
C. Cash flow from financing activities
Proceeds from issue of equity shares	–	7,000.00
Transaction cost on QIP issue	–	(116.21)
Proceeds from long term borrowings	1,538.85	1,646.62
Repayment of long term borrowings	(115.24)	(97.74)
Proceeds from/(repayment) of short term borrowings (net)	708.82	462.89
Principal paid on lease liabilities	(9.64)	(7.35)
Interest paid on lease liabilities	(11.36)	(12.01)
Finance costs paid	(345.63)	(150.61)
Net cash flow from financing activities (C)	1,765.80	8,725.59
Net (decrease)/ increase in cash and cash equivalents A+B+C	(167.93)	121.89
Cash and cash equivalents at the beginning of the year	403.75	281.86
Cash and cash equivalents at the end of the year	235.82	403.75

S.No	Particulars	March 31, 2026 (Refer Note 7)	December 31, 2025 [Unaudited]	March 31, 2025 (Refer Note 7)	March 31, 2026 [Audited]	March 31, 2025 [Audited]
I Income:
I	Revenue from operations	1,615.39	1,587.19	1,269.26	6,029.75	4,573.54
II	Other income	165.81	81.37	33.78	456.54	105.91
III	Total income (I+II)	1,781.20	1,668.56	1,303.04	6,486.29	4,679.45
IV Expenses:
	Cost of materials consumed	309.90	396.02	296.15	1,304.73	1,049.86
	Changes in inventories of finished goods, work-in-progress and scrap inventory	(199.37)	(264.89)	(134.10)	(723.50)	(413.06)
	Employee benefits expense	383.17	342.19	253.82	1,355.23	928.66
	Finance costs	98.63	83.37	38.21	308.19	183.89
	Depreciation expenses	168.05	142.40	92.66	528.42	294.84
	Other expenses	508.47	491.71	397.52	1,840.16	1,395.02
	Total expenses	1,268.85	1,190.80	944.26	4,613.23	3,439.19
V	Profit before tax for the period/year (III-IV)	512.35	477.76	358.78	1,873.06	1,240.26
VI Tax expenses
	Current tax	55.04

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