Hyderabad-based Azad Engineering has signed a six-year long-term agreement with GE Vernova Power, a part of GE Steam Power GmbH. Under this deal, Azad will manufacture and supply precision parts used in nuclear, industrial, and thermal power plants.
The deal is worth ₹452.5 crore (about $53.5 million) and includes the supply of rotating and stationary airfoils—critical components used in power generation. These parts will be shipped globally from GE Vernova’s base in Baden, Switzerland.
Azad Engineering said this partnership is a big step in strengthening its relationship with GE Vernova and proves its position as a trusted global supplier of high-tech power equipment.
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This is not Azad’s first major deal with GE Vernova. In January, the company signed another six-year contract worth $112 million (around ₹960 crore) to supply similar components for advanced gas turbine engines. These components are essential for meeting the growing needs of the global power generation industry.
Azad Engineering aims to become a top player in the field of gas turbine components and has been quickly expanding. Just three months ago, in November 2024, the company signed another long-term deal with Japan’s Mitsubishi Heavy Industries, worth $82.89 million (around ₹700 crore).
Despite this good news, Azad Engineering’s stock closed at ₹1,551, which is 2% lower than the previous day on the NSE. However, over the past month, the stock has gained 12%, showing strong investor interest during the recent market rally.
