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Azad Engineering has signed a long-term contract and price agreement with Japan’s Mitsubishi Heavy Industries for ₹651 crore. The stock gained nearly 2% on the back of this development.
Azad Engineering is a global supplier of complex and high-precision components to energy, aerospace, defense, and oil & gas industries.
The deets: the contract covers making special parts, called rotating and stationary airfoils that go inside advanced gas and thermal power turbine engines. These parts will help Mitsubishi Heavy Industries meet its growing global demand for equipment used in power generation.
FYI: the deal is incremental to an earlier contract inked on November 3, 2024. This brings the combined value of contracts between the two firms to ₹1,387 crore.
Big theme: India is emerging as a global hub for high-precision manufacturing, moving beyond low-cost production to supply critical components for energy and aerospace. With power demand rising and the gas turbine market headed for $25 billion by 2030, deals like Azad-MHI highlight India’s export-led growth and engineering strength.
