Buy Azad Engineering, target price Rs 1600: ICICI Securities

ICICI Securities has buy call on Azad Engineering with a target price of Rs 1600. The current market price of Azad Engineering is Rs 1354.

Azad Engineering Ltd., incorporated in the year 1983, is a Small Cap company (having a market cap of Rs 8018.09 Crore) operating in Engineering sector.

Azad Engineering Ltd. key Products/Revenue Segments include for the year ending .



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 107.67 Crore, up 15.18 % from last quarter Total Income of Rs 93.48 Crore and up 72.76 % from last year same quarter Total Income of Rs 62.32 Crore. Company reported net profit after tax of Rs 16.80 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 65.9 per cent stake in the company as of 31-Dec-2023, while FIIs owned 4.68 per cent, DIIs 5.68 per cent.