Goldman Sachs maintained buy on Azad Engineering with target price of 3315 rupees after company inaugurated two dedicated facilities for GE Vernova; stock up 4.5%

Tue 29 Sep 2026

Goldman Sachs target price

3315 rupees

Stock move today

4.5 percent up

Trailing P/E multiple

130 times

Forward P/E assuming 100% growth

65 times

Heard on Live TV News Channel between 09:27:47 - 09:29:02 IST.

• Goldman Sachs maintained buy rating with target price of 3315 rupees on Azad Engineering.
• Azad inaugurated two dedicated facilities for GE Vernova, supporting gas turbine ramp-up, a key medium-term growth driver.
• Goldman noted company's transition from component supplier to broader platform integration partner, with sizable order book providing multi-year revenue visibility.
• Panelist flagged stock is expensive at trailing 130 times P/E (65 times even assuming 100% growth), and cash flow from operating activities was negative last year despite customers like Boeing and Airbus.
• Debate noted valuation comparisons vary depending on peer set used to justify Azad's premium.

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