Azad Engineering Ltd Signs Amendment No. 3 to Strategic Supply Agreement with Nuovo Pignone
Azad Engineering Ltd has finalized Amendment No. 3 to its Strategic Supply Agreement with Nuovo Pignone S.r.l., a company belonging to Baker Hughes Company. The amendment was signed on April 23, 2026, modifying the original agreement that was executed on March 6, 2024.The agreement confirms Azad Engineering’s ongoing supply relationship with Nuovo Pignone S.r.l., which is registered in Via F. Matteuici, Florence (FI), Italy, and is a part of the global Baker Hughes Company.
The amendment is integral to the original Strategic Supply Agreement, which remains in force for a total term of five years, concluding in CY 2030. The development was undertaken in response to a significant increase in the annual demand for critical turbomachinery components utilized in power generation applications.
This significant contractual extension aligns with Azad Engineering’s strategic objective of strengthening its long-term partnership with global Original Equipment Manufacturers (OEMs) and expanding its presence within the high-value, technologically sophisticated energy equipment supply chain in the oil and gas industry.
Strategic Supply Details
The core details of the agreement, outlining the scope and commercial terms, are provided below:| Particulars | Details |
|---|---|
| Awarding Entity | Nuovo Pignone S.r.l., a Company part of Baker Hughes Company |
| Nature of Contract | Amendment No. 3 to the Strategic Supply Agreement |
| Scope of Supply | Supply of critical turbomachinery components for power generation |
| Transaction Type | International |
| Duration | Expires in CY 2030 |
| Awarding Region | International |
| Consideration/Size | Confidential |
The transaction involves an international agreement, with the supply of critical turbomachinery components designated for use in power generation. The terms confirm that the company does not have any interest in the awarding entity, and the contract does not fall within related party transactions.
AZAD Stock Price Movement
Today, Azad Engineering Limited shares rallied, closing out the session at ₹2111, marking a substantial gain of 8.84% or ₹172.40. The stock finished today at its 52-week high, while trading through a volume of 1.89 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.