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Data-driven stock valuation

Azad Engineering Limited (AZAD) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Azad Engineering Limited stock ₹409, price ₹2,434, that is 83.2% below the price, quality 37 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.

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Industrials IN · ISIN INE02IJ01035

AE Azad Engineering Limited logo Thin data Nov 7, 2026

Azad Engineering Limited

AZAD · NSE
Very expensive, weak quality

Our calculation puts a fair price 83% below what the stock costs today.

Highly profitable · 21.8% net margin (TTM)
Low debt
Revenue last quarter +26% vs. a year ago.
Expensive Growth (revenue 5y +38.5 %/yr in INR)
Mixed vs. peers (5/12)
Moderate moat 62/100 · thin data
Fair value ₹409.14 · Strongly overvalued
Quality 37/100
Negative free cash flow
Thin data
Extreme value
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹3,063 ₹659.15 Fair Value ₹409.14 Dec 2023 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

34‑month range ₹659.15 – ₹3,063 · fair‑value band ₹295.64 – ₹522.64 · the ₹2,434 price screens above the ₹409.14 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Azad Engineering Limited manufactures and sells precision-engineered components in India and internationally.

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The company offers aerospace, including airfoils/blades for aircraft engines and APUs, body valve, housing mount, housing compressor, fan blisk, mixed flow impeller, housing fan, shell and housing, air frames, aero structure, turbine wheel, nozzle, unison ring, lever arm, hydraulic, fuel inerting, flight control, actuating system, and other products, as well as aerospace standard fluid distribution parts.

It provides plate butterfly, sealer, shaft, bearing rod, piston, plate, and sealing ring; aft and fore End Skirt, BB2KP Base, B1 Igniter Body1, and B1 Igniter Body-2; last stage airfoil/blade rotary and welding chamfers and last stage airfoil/ blade stationary components for use in nuclear power turbine solution; and fixed, moving, and stage airfoil/blade rotating for thermal power turbines.

In addition, the company offers aerospace actuator systems, such as covers, actuators, housings, guides, poppets, nipples, adapters, tees, elbows; and slips, drill bits, hatch covers, frames, and bonnets for oil and gas up and mid-stream sub-systems.

The company also offers 3D rotating airfoil portions of turbine engines and other key products for combustion, hydraulics, flight control, propulsion and actuation which power defence and civil aircraft, spaceships, defence missiles, nuclear power, hydrogen, gas power, oil and thermal power.

It serves the aerospace, defense, energy, and oil and gas industries. The company was incorporated in 1983 and is based in Hyderabad, India.

Stock analysis

Azad Engineering Limited (AZAD) currently trades at ₹2,434, while our model-based Fair Value estimate is ₹409.14, 83% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹941.92 per share, and 0 of the 14 models we run sit above the ₹2,434 price.

Bear case: the Asset-Based group reads lowest at ₹49.26, and 14 of the 14 models stay below the price. Data coverage for this calculation is low.

Scenario range: ₹295.64 (bear) to ₹522.64 (bull), the price of ₹2,434 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 37/100 (below-average quality), in the Industrials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Azad Engineering Limited reported revenue of ₹6.0B in FY2026 versus ₹1.9B in FY2022, a compound +34.3%/yr. Reported net income was ₹1.3B in FY2026, compounding +45.7%/yr from FY2022.

Key figures

Market cap ₹157B (≈ $1.7B) Small · P/E ratio 113.3 · P/S ratio 24.6 · EPS (TTM) ₹21.49 · Net margin 21.8% · Return on equity 9.1% · Return on assets (EBIT) 9.8% (5-year average) · Operating margin 26.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).

What moves the price

The share trades about 21% below its 52-week high and 78% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −47% fair-value upside, at −83%, AZAD screens richer than that median.

Fair Value models

The price assumes far more growth than our models allow for, so the models scatter widely (₹49.26 to ₹1,048). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear ₹295.64 Fair Value ₹409.14 Bull ₹522.64
Price ₹2,434 · Downside -83.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹13.25 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
EPV ₹115.53 ₹131.07 ₹143.66 74
ROIC Compounder ₹115.53 ₹131.07 ₹143.66 70
Residual Income ₹179.91 ₹187.17 ₹206.10 68
All 14 models by family
Earnings-Based
Graham-Dodd ₹139.91 ₹975.71 ₹1,369 61
Lynch FV ₹504.09 ₹720.13 ₹936.16 59
PEG = 1.0 ₹504.09 ₹720.13 ₹936.16 55
EPV ₹115.53 ₹131.07 ₹143.66 74
Multiples
P/E Multiple ₹324.06 ₹432.08 ₹540.09 63
P/S Multiple ₹140.05 ₹186.73 ₹233.42 58
P/B Multiple ₹786.22 ₹1,048 ₹1,310 55
EV/EBIT ₹295.64 ₹409.14 ₹522.64 66
EV/EBITDA ₹295.30 ₹408.68 ₹522.07 67
EV/Revenue ₹72.78 ₹123.20 ₹173.61 52
Asset-Based
NCAV (Graham) ₹32.51 ₹49.26 ₹61.58 54
Economic Profit
Residual Income ₹179.91 ₹187.17 ₹206.10 68
ROIC Compounder ₹115.53 ₹131.07 ₹143.66 70
Growth Earnings
Growth-Adj P/E ₹659.35 ₹941.92 ₹1,225 65

Open the full fair value analysis →

Quality Score breakdown

Overall quality 37/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 43
How much profit the company makes from its sales and capital
Quality Growth 66
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 70
Debt, balance sheet and risk of trouble
Investment 0
Does it invest with discipline instead of growing at any price?
Low Volatility 62
How calm the share price moves, does not count
Price momentum 67
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 75
Distance to the 52-week high, does not count
New shares 35
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+35.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+35.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+38.5%
Start year 2021 (pandemic)
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+53.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+53.8%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.16% → 29%
2026 sits 84% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

AZAD screens overvalued: fair value 83% below the price. Compare with SIE →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 845 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside −83.2% · Bottom 25%
Profitability
Return on equity (12 months) 9.1% · Above median
Return on assets 6.0% · Above median
Net margin (12 months) 21.8% · Top 25%
Operating margin (12 months) 26.5% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 25.9% · Top 25%
Balance sheet
Debt / equity 0.18× · Above median

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

P/E (12 months) 113.3× · Priciest 25%
P/B 10.28× · Priciest 25%
P/S (12 months) 24.62× · Priciest 25%
EV/EBITDA 66.4× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 30
PAST (return on equity)37 · sector 27
HEALTH (low debt)91 · sector 95
DIVIDEND (yield)0 · sector 28

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Cummins Inc CMI $454.18 $359.36 −21% vs AZAD
SIE SIE €271.55 €149.56 −45% vs AZAD
Illinois Tool Works Inc ITW $288.05 $154.30 −46% vs AZAD
Sandvik AB SAND kr 366.20 kr 194.33 −47% vs AZAD
AMETEK, Inc AME $238.31 $125.74 −47% vs AZAD
Parker-Hannifin Corporation PH $965.17 $492.92 −49% vs AZAD
Emerson Electric Co EMR $167.54 $79.99 −52% vs AZAD
Rockwell Automation, Inc ROK $397.16 $186.75 −53% vs AZAD
Eaton Corporation ETN $354.22 $156.90 −56% vs AZAD
GE Vernova Inc GEV $797.04 $211.78 −73% vs AZAD

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Azad Engineering Limited: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Azad Engineering Limited Fair Value". https://www.fairvalue-calculator.com/stock/AZAD

Frequently asked questions

Is Azad Engineering Limited (AZAD) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of ₹409.14 versus a price of ₹2,434, about 83% lower (overvalued).
What is the fair value of AZAD?
Our model-based fair value for Azad Engineering Limited is ₹409.14 (as of Nov 7, 2026), built from audited fundamentals. The current price: ₹2,434.
What is the quality score of AZAD?
Azad Engineering Limited has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Azad Engineering Limited (AZAD)?
Our model-based price target is the fair value of ₹409.14 (as of Nov 7, 2026) from 14 valuation models. Cautious scenario ₹295.64, optimistic scenario ₹522.64. It is a calculation from audited fundamentals, not an analyst target.
What is the Azad Engineering Limited stock forecast for 2026?
Our models put fair value at ₹409.14, about 83% lower versus a price of ₹2,434 (overvalued). Cautious scenario ₹295.64, optimistic scenario ₹522.64. The calculation is refreshed regularly with new filings.
What is the revenue of Azad Engineering Limited (AZAD)?
Azad Engineering Limited reported trailing-twelve-month revenue of about ₹6.4B (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Azad Engineering Limited (AZAD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Azad Engineering Limited it is ₹409.14 per share (as of Nov 7, 2026), against a price of ₹2,434. It is the blended result of 14 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Azad Engineering Limited stock overvalued or undervalued in 2026?
As of Nov 7, 2026, AZAD trades above its calculated fair value: price ₹2,434, fair value ₹409.14, a gap of about −83% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AZAD?
No. The price is what the market pays today (₹2,434); the fair value is what the company's own numbers justify (₹409.14). For Azad Engineering Limited the two are ₹2,025 per share apart. That gap is exactly why we show both numbers side by side.
How much is Azad Engineering Limited worth?
The market values Azad Engineering Limited at about ₹157B (market capitalisation, as of Nov 7, 2026). Per share that is ₹2,434; our models calculate a fair value of ₹409.14 per share.
What do the bullish and bearish scenarios say about AZAD?
Our models span a range for Azad Engineering Limited: cautious scenario ₹295.64, base ₹409.14, optimistic ₹522.64 per share (as of Nov 7, 2026, price ₹2,434). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AZAD?
Azad Engineering Limited trades at a price-to-earnings ratio of 113.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹409.14 is built from several models across several years. Other multiples: P/B 10.3, P/S 24.6, EV/EBITDA 66.4.
How solid is the balance sheet of Azad Engineering Limited (AZAD)?
Balance-sheet figures for Azad Engineering Limited (as of Nov 7, 2026): return on equity 9.1%, debt of 0.18 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is AZAD from its 52-week high?
Azad Engineering Limited trades at ₹2,434, about 21% below its 52-week high of ₹3,063 and 78% above the low of ₹1,367 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹409.14 is for.
Which stocks are comparable to Azad Engineering Limited?
From the same area (Industrials) we also value SIE, GE Vernova Inc, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Azad Engineering Limited stock attractive at the current price?
The data as of Nov 7, 2026: price ₹2,434, calculated fair value ₹409.14 (−83%), Quality Score 37/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AZAD calculated?
We run Azad Engineering Limited through 14 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹409.14 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Azad Engineering Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Azad Engineering Limited (AZAD)?
The closing price on Nov 9, 2026 was ₹2,434. Our model-based fair value is ₹409.14, about 83% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Azad Engineering Limited right now?
The price sits above even our optimistic bull case (₹522.64). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Azad Engineering Limited

How large is the market capitalisation of Azad Engineering Limited (AZAD)?
The market capitalisation of Azad Engineering Limited is ₹157B (≈ $1.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Azad Engineering Limited (AZAD)?
The price-to-sales ratio of Azad Engineering Limited is 24.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Azad Engineering Limited (AZAD)?
Earnings per share at Azad Engineering Limited are ₹21.49 (price ÷ EPS = P/E 113.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Azad Engineering Limited (AZAD)?
The net margin of Azad Engineering Limited is 21.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Azad Engineering Limited (AZAD)?
The return on equity (ROE) of Azad Engineering Limited is 9.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Azad Engineering Limited (AZAD)?
On an EBIT basis the return on assets of Azad Engineering Limited is 9.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Azad Engineering Limited (AZAD)?
The operating margin of Azad Engineering Limited is 26.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Azad Engineering Limited (AZAD)?
Revenue at Azad Engineering Limited is growing +25.9% versus a year earlier (3y avg +35.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Azad Engineering Limited (AZAD)?
Earnings per share at Azad Engineering Limited are growing +21.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Azad Engineering Limited (AZAD) generate?
The free cash flow of Azad Engineering Limited is −₹6.9B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Azad Engineering Limited (AZAD) carry?
The net debt of Azad Engineering Limited is ₹2.9B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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