Azad Engineering Limited

NSEI:AZAD Stock Report

Market Cap: ₹160.1b

Azad Engineering Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Rakesh Chopdar

Chief executive officer

₹48.0m

Total compensation

CEO salary percentage100.00%
CEO tenure23yrs
CEO ownership55.1%
Management average tenure1.6yrs
Board average tenure2.9yrs

Recent management updates

Recent updates

New Narrative • Aug 10

Future Capacity Buildout And OEM Dependence Will Limit Earnings Resilience

Catalysts About Azad Engineering Azad Engineering manufactures precision components and propulsion systems for global energy, oil and gas, aerospace and defense OEMs. What are the underlying business or industry changes driving this perspective? Azad Engineering is tightly linked to global gas turbine upgrade cycles and aircraft build rates.
Narrative Update • Aug 10

AZAD: Moderating Margins And Rich P E Will Temper Long Term Outlook

Azad Engineering's analyst price target has shifted from around ₹2,070.71 to about ₹2,237.14. Analysts point to updated fair value estimates, a slightly lower discount rate, moderated revenue growth and profit margin assumptions, and a higher future P/E expectation as key drivers behind the change.
Narrative Update • Jun 09

AZAD: Long Term Supply Agreements And New Facility Will Support Balanced Outlook

Analysts have maintained their fair value estimate for Azad Engineering at ₹2,070.71 per share, with a slightly lower discount rate and a modestly adjusted future P/E assumption shaping the latest price target narrative. What's in the News Board meeting scheduled on May 12, 2026, to consider reappointment of Mr. Rakesh Chopdar as Whole-Time Director, Executive Chairman and CEO, and reappointment of Mrs.
Narrative Update • May 26

AZAD: Long Term Supply Deals And Capacity Expansion Will Shape Balanced Outlook

Analysts have raised their price target on Azad Engineering from ₹1,944 to about ₹2,071, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and a lower future P/E multiple. What's in the News Board meeting scheduled on May 12, 2026, to consider reappointing Mr. Rakesh Chopdar as Whole Time Director, Executive Chairman and CEO, and reappointing Mrs.
Analysis Article • May 24

Azad Engineering's (NSE:AZAD) Earnings Are Weaker Than They Seem

Investors were disappointed with Azad Engineering Limited's ( NSE:AZAD ) earnings, despite the strong profit numbers...
New Narrative • May 21

Long Dated OEM Contracts And Order Book Strength Will Support Multi Year Upside

Catalysts About Azad Engineering Azad Engineering manufactures highly engineered, mission critical components for global OEMs across energy, aerospace, defense and oil and gas. What are the underlying business or industry changes driving this perspective?
Analysis Article • Feb 18

Earnings Update: Azad Engineering Limited (NSE:AZAD) Just Reported Its Third-Quarter Results And Analysts Are Updating Their Forecasts

It's been a good week for Azad Engineering Limited ( NSE:AZAD ) shareholders, because the company has just released its...
Analysis Article • Jan 27

Returns On Capital Signal Tricky Times Ahead For Azad Engineering (NSE:AZAD)

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Amongst other things...
Analysis Article • Oct 04

Investors Could Be Concerned With Azad Engineering's (NSE:AZAD) Returns On Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Sep 03

Should You Be Adding Azad Engineering (NSE:AZAD) To Your Watchlist Today?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Analysis Article • Aug 08

Analysts Have Been Trimming Their Azad Engineering Limited (NSE:AZAD) Price Target After Its Latest Report

NSEI:AZAD 1 Year Share Price vs Fair Value Explore Azad Engineering's Fair Values from the Community and select yours...
Narrative Update • Aug 07

8 Manufacturing Facilities Will Unlock Demand In Energy, Aerospace And Defense

Despite steady discount rate and revenue growth forecasts, the consensus analyst price target for Azad Engineering has been revised downward from ₹2122 to ₹1944. What's in the News Board meeting scheduled to consider and approve Q1 FY26 standalone and consolidated unaudited financial results.
Analysis Article • Jul 04

Does Azad Engineering (NSE:AZAD) Have A Healthy Balance Sheet?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
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New Narrative • Jun 01

Mitsubishi And GE Vernova Orders Will Fuel Global Capacity Expansion

Expanding capacity and order visibility, with a strong export-oriented pipeline, supports multi-year recurring growth and earnings stability from global supply chain shifts.
Analysis Article • May 31

We Think Shareholders Should Be Aware Of Some Factors Beyond Azad Engineering's (NSE:AZAD) Profit

Even though Azad Engineering Limited ( NSE:AZAD ) posted strong earnings recently, the stock hasn't reacted in a large...
Analysis Article • May 06

Azad Engineering Limited (NSE:AZAD) Looks Just Right With A 26% Price Jump

Azad Engineering Limited ( NSE:AZAD ) shares have had a really impressive month, gaining 26% after a shaky period...
Analysis Article • Mar 20

Azad Engineering Limited's (NSE:AZAD) P/S Is On The Mark

When close to half the companies in the Machinery industry in India have price-to-sales ratios (or "P/S") below 2.3x...
Analysis Article • Jan 21

Returns At Azad Engineering (NSE:AZAD) Appear To Be Weighed Down

What trends should we look for it we want to identify stocks that can multiply in value over the long term? One common...
Analysis Article • Dec 24

These 4 Measures Indicate That Azad Engineering (NSE:AZAD) Is Using Debt Reasonably Well

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Nov 19

Shareholders Shouldn’t Be Too Comfortable With Azad Engineering's (NSE:AZAD) Strong Earnings

We didn't see Azad Engineering Limited's ( NSE:AZAD ) stock surge when it reported robust earnings recently. We think...
Analysis Article • Jul 22

Is Azad Engineering (NSE:AZAD) Using Too Much Debt?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jun 26

Azad Engineering Limited's (NSE:AZAD) P/S Is Still On The Mark Following 33% Share Price Bounce

Despite an already strong run, Azad Engineering Limited ( NSE:AZAD ) shares have been powering on, with a gain of 33...

CEO Compensation Analysis

How has Rakesh Chopdar's remuneration changed compared to Azad Engineering's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2026n/an/a

₹1b

Mar 31 2026n/an/a

₹1b

Dec 31 2025n/an/a

₹1b

Sep 30 2025n/an/a

₹1b

Jun 30 2025n/an/a

₹999m

Mar 31 2025₹48m₹48m

₹873m

Dec 31 2024n/an/a

₹770m

Sep 30 2024n/an/a

₹698m

Jun 30 2024n/an/a

₹683m

Mar 31 2024₹43m₹43m

₹586m

Dec 31 2023n/an/a

₹585m

Mar 31 2023₹46mn/a

₹85m

Mar 31 2022₹41mn/a

₹295m

Mar 31 2021₹19mn/a

₹115m

Compensation vs Market: Rakesh's total compensation ($USD503.38K) is about average for companies of similar size in the Indian market ($USD503.18K).

Compensation vs Earnings: Rakesh's compensation has been consistent with company performance over the past year.

CEO

Rakesh Chopdar (48 yo)

23yrs
Tenure
₹48,000,000
Compensation

Mr. Rakesh Chopdar serves as the Chief Executive Officer and Chairman of the Board at Azad Engineering Limited and serves as a Director since August 14, 2003. He joined the Azad Engineering Limited in Augu...

Leadership Team

NamePositionTenureCompensationOwnership
Rakesh Chopdar
Chairman of the Board & CEOno data₹48.00m55.14%
₹ 88.3b
Ronak Jajoo
Chief Financial Officer2.9yrs₹5.28mno data
Jyoti Chopdar
Whole-Time Directorno data₹12.00m0.70%
₹ 1.1b
Vishnu Malpani
Whole-Time Directorno data₹7.42m0.23%
₹ 368.6m
Murali Bhupatiraju
MD & Director1.6yrs₹9.99mno data
Ashok Gentyala
Director of Technical1.6yrsno datano data
Praneeth Gunda
Company Secretary & Compliance Officerless than a yearno datano data
Balaji P. R.
Head of Business Growthno datano datano data
Dinesh Shetty
Head of Supply Chainno datano datano data
Atin Agarwal
Head of Analytics & ITno datano datano data
Matthew Childs
Head of Key Accounts3.6yrsno datano data
Silpa Bellamkonda
Head of Quality Management Systemsno datano datano data
1.6yrs
Average Tenure
48yo
Average Age

Experienced Management: AZAD's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Rakesh Chopdar
Chairman of the Board & CEO23yrs₹48.00m55.14%
₹ 88.3b
Jyoti Chopdar
Whole-Time Director12.1yrs₹12.00m0.70%
₹ 1.1b
Vishnu Malpani
Whole-Time Director2.9yrs₹7.42m0.23%
₹ 368.6m
Murali Bhupatiraju
MD & Director1.6yrs₹9.99mno data
Deepak Kabra
Independent Non-Executive Director1.6yrs₹210.00kno data
Michael Booth
Independent Director2.9yrs₹692.00kno data
Subba Ambati
Independent Director2.9yrs₹528.00kno data
Madhusree Vemuru
Independent Director2.9yrs₹660.00kno data
2.9yrs
Average Tenure
49yo
Average Age

Experienced Board: AZAD's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/13 11:39
End of Day Share Price 2026/08/13 00:00
Earnings2026/06/30
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Azad Engineering Limited is covered by 7 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gaurav NagoriAvendus Spark
Ravi Kumar PuttaChoice Equity Broking Private Limited
Amit DixitGoldman Sachs