Azad Engineering IPO: The Good and The Bad

About the company

Azad Engineering is a manufacturer of complex and highly engineered precision forged and machined instruments.

IPO details

Post IPO

Key financials

Key ratios

The positives

Well-established client relationships. The top five clients have been associated with the company for the last 10 years.

The positives

High entry barriers. The company caters to industries with stringent entry and quality requirements.

The negatives

Client concentration. The top five clients accounted for 63.1 per cent of FY23 revenue.

The negatives

Highly competitive industry. The brand faces stiff competition from peers both in India and globally.

Risk report

Are Azad Engineering's earnings before tax more than Rs 50 crore in the last 12 months? No. Its earnings before tax for FY23 was Rs 13 crore.

To read the complete risk report, visit vro.in