In this article, we will try to analyze the Azad Engineering share price target for 2024, 2025, 2026, 2027, 2028, 2029, and 2030 based on the company’s financials and various reports from research and brokerage firms.
Table of Contents
IPO Review-
Azad Engineering IPO is getting listed at BSE and NSE. Some of the IPO details are given below.
| Bidding Dates | 20 Dec 2023 – 22 Dec 2023 |
| Price Band | 499-524 INR |
| Issue Size | 740 crore |
| Fresh Issue | 240 Cr (4,580,153 shares) |
| Offer for Sale | 500 Cr (9,541,985 shares) |
| Listing At | NSE,BSE |
| Listing Date | 28 Dec 2023 |
Recent News-
Azad Engineering IPO has been subscribed to 80 times, and the retail category has been subscribed to 23.65 times on the last day of the bidding process. The company has announced its IPO with a 740 crore issue size.
This IPO was a fresh equity of Rs 240 crore and an offer for sale (OFS) of Rs 500 crore. The listing date of Azad Engineering is fixed for December 28, 2023.
Azad Engineering is considered to be in the upper price band of Rs 524; the stock is likely to debut with a premium of 65%.
Company Overview-
Azad Engineering was established on September 14, 1983. The company is engaged in producing highly engineered, intricate, and mission-critical components for original equipment manufacturers in the energy, aerospace, defense, and oil and gas industries.
Azad Engineering is one of the key manufacturers of their qualified product lines, which they supply to global original equipment manufacturers in the aerospace and defense, energy, and oil and gas industries. Currently, Azad Engineering has three revenue verticals:
Energy: 87%
Aerospace: 9%
Scrap and others: 4%
Financials
| Market Cap | 7,759 |
| P/E Ratio | 132.71 |
| Industry P/E | 49.04 |
| Debt to Equity | 1.42 |
| Return on Equity | 19.75% |
In FY 2023, the company’s revenue from operations rose 31% YoY to Rs 261 crore, while net profit for the same period fell 71% to Rs 8.4 crore.
The revenue of the company grew at a CAGR of 43% between FY 2021 and FY 2023, and the PAT margin grew at a CAGR of 49% in the same period.
Net-profit margin-
| Year | Revenue | Profit |
|---|---|---|
| 2024 | 373 | 59 |
| 2023 | 262 | 8 |
| 2022 | 199 | 29 |
| 2021 | 125 | 12 |
Share-holding Pattern
| Jun’24 | Mar’24 | Dec’23 | Sep’23 | |
|---|---|---|---|---|
| Promoters | 65.90% | 65.90% | 65.90% | 86.51% |
| Retail | 20.98% | 22.12% | 23.75% | 13.49% |
| Foreign Institution | 9.68% | 6.98% | 4.68% | 0.00% |
| Mutual Funds | 3.16% | 4.31% | 4.91% | 0.00% |
| Domestic Institutions | 0.27% | 0.69% | 0.76% | 0.00% |
Share price targets for Azad Engineering are highly speculative and influenced by numerous factors, such as market conditions, economic indicators, company performance, industry trends, and many more.
We will predict the Azad Engineering share price target in 2024, 2025, 2026, 2027, 2028, 2029, and 2030 by analyzing the previous performance and after studying various brokerage and research firm forecasts.
Azad Engineering share price target: 2024
| 2024 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| January | x | x |
| February | x | x |
| March | x | x |
| April | x | x |
| May | x | x |
| June | x | x |
| July | x | x |
| August | x | x |
| September | x | x |
| October | 1288 | 1490 |
| November | 1424 | 1760 |
| December | 1465 | 1825 |
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 1825 in December 2024 and a minimum price target of Rs 648 in January 2024. The average price target for Azad Engineering in 2024 is expected to be around Rs 1366.
Azad Engineering Share price target prediction for 2024 is based on the company’s financials, previous trends, and various brokerage firm reports.
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Azad Engineering share price target: 2025
| 2025 | Minimum Share Price | Maximum Share Price |
|---|---|---|
| January | 1578 | 2044 |
| February | 1685 | 2137 |
| March | 1794 | 2265 |
| April | 1815 | 2372 |
| May | 1922 | 2488 |
| June | 2046 | 2510 |
| July | 2138 | 2642 |
| August | 2253 | 2765 |
| September | 2392 | 2884 |
| October | 2416 | 2947 |
| November | 2545 | 3083 |
| December | 2668 | 3164 |
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 3164 in December 2025 and a minimum price target of Rs 1678 in January 2025. The average price target for Azad Engineering in 2025 is expected to be around Rs 2455.
Azad Engineering Share price target prediction for 2025 is based on the company’s financials, previous trends, and various brokerage firm reports.
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Azad Engineering share price target: 2026
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 3574 in December 2026 and a minimum price target of Rs 2850 in March 2026. The average price target for Azad Engineering in 2026 is expected to be around Rs 3376.
| 2026 | Share Price Target |
|---|---|
| 1st Price Target | 3574 |
| 2nd Price Target | 2850 |
Azad Engineering Share price target prediction for 2026 is based on the company’s financials, previous trends, and various brokerage firm reports.
Azad Engineering share price target: 2027
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 5054 in December 2027 and a minimum price target of Rs 4464 in March 2027. The average price target for Azad Engineering in 2027 is expected to be around Rs 5085.
| 2027 | Share Price Target |
|---|---|
| 1st Price Target | 5054 |
| 2nd Price Target | 4464 |
Azad Engineering Share price target prediction for 2027 is based on the company’s financials, previous trends, and various brokerage firm reports.
Azad Engineering share price target: 2028
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 5850 in December 2028 and a minimum price target of Rs 4730 in March 2028. The average price target for Azad Engineering in 2028 is expected to be around Rs 5888.
| 2028 | Share Price Target |
|---|---|
| 1st Price Target | 5850 |
| 2nd Price Target | 4730 |
Azad Engineering Share price target prediction for 2028 is based on the company’s financials, previous trends, and various brokerage firm reports.
Azad Engineering share price target: 2029
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 8076 in December 2029 and a minimum price target of Rs 6820 in May 2029. The average price target for Azad Engineering in 2029 is expected to be around Rs 7210.
| 2029 | Share Price Target |
|---|---|
| 1st Price Target | 8076 |
| 2nd Price Target | 6820 |
Azad Engineering Share price target prediction for 2029 is based on the company’s financials, previous trends, and various brokerage firm reports.
Azad Engineering share price target: 2030
The share price of Azad Engineering is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 9955 in December 2030 and a minimum price target of Rs 8865 in March 2030. The average price target for Azad Engineering in 2030 is expected to be around Rs 9064.
| 2030 | Share Price Target |
|---|---|
| 1st Price Target | 9955 |
| 2nd Price Target | 8865 |
Azad Engineering Share’s price target prediction for 2030 is based on the company’s financials, previous trends, and various brokerage firm reports.
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Strengths of Azad Engineering
- The company has long-standing client relationships; the top five customers have been associated with the company for over 10 years. The reputed clients are General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace, and Man Energy Solutions.
Weaknesses of Azad Engineering
- The company lacks bargaining power due to limited suppliers of raw materials.
- Its finance cost totaled Rs 52 crore in FY23, up 284.7% from Rs 14 crore in FY22.
- Azad Engineering has required a high level of working capital. Its cash conversion cycle stood at 204 days as of September 30, 2023.
Competitor
| Company | Market Cap | P/E Ratio |
|---|---|---|
| Tega Indstries | 7234 | 37.22 |
| MTAR Technologie | 6879 | 66.73 |
| Ideaforge Tech | 3555 | 116.41 |
| Paras Defence | 2792 | 78.27 |
| The Anup Engineering Ltd | 2614 | 35.51 |
Conclusion
Experts and analysts are positive about the company for its strong financial track record and superior outlook on growth. The government’s Make in India initiative is expected to help Azad Engineering scale up its operations in India’s defense and energy sectors. The company has experienced compounded sales growth of 27% in the last 3 years.
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Disclaimer: I am not a SEBI-registered investment adviser or research analyst. The information shared is only for educational purposes. This is not an investment advice.
What is the listing date of Azad Engineering?
Azad Engineering will be listed on BSE & NSE on December 28, 2023.
What is the expected listing price for Azad Engineering?
Azad Engineering is expected to be listed on stock exchange at the price of Rs 865 with the 65% premium of cut-off price.
What is the Market cap of Azad Engineering?
Azad Engineering has the Market cap of Rs 3095 crore post-IPO.
What is the ratio of promoter’s holding in Azad Engineering?
Promoters share holding will be 65.9% after the IPO listing.
Exllent