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Buy AIA Engineering Ltd For Target Rs. 4,260 By JM Financial Services Performance broadly in-line; customer conversion key to watch AIA Engineering (AIAE) reported number broadly in-line with estimates. Revenue was down 9.7% YoY to INR 11.5bn, due to lower realisation, (on account of pass-on of low RM cost) which declined to INR 158/kg vs INR 170/KG in 4QFY24 and lower volume. EBITDA declined 5.8% YoY to INR 2.97bn. Other income grew 20% YoY to INR 765mn, which include treasury income of INR 720mn. PAT declined 2.9% YoY to INR 2.6bn. FY24 volumes were flat a...
Buy AIA Engineering Ltd For Target Rs. 4,260 By JM Financial Services
Buy AIA Engineering Ltd For Target Rs. 4,260 By JM Financial Services
Source: JM Financial Services
2024-07-02 12:23:46 pm
Buy AIA Engineering Ltd For Target Rs. 4,400 - JM Financial Institutional Securities AIA Engineering (AIAE) reported number broadly inline with estimates. During the quarter revenue and margins were impacted due to product mix and price pass through of the declining raw material prices. Revenue declined 4.7% YoY to INR 11.7bn, owing to lower realisation, which declined to INR 155/kg in 3QFY24 vs INR 169/KG in 3QFY23. EBITDA declined 14.9% YoY to INR 3.1bn with EBITDA margin contracting 320bps YoY to 26.6%. Other income declined 29.5% YoY (on high base) to INR 831mn resulting ...
Buy AIA Engineering Ltd For Target Rs. 4,400 - JM Financial Institutional Securities
Buy AIA Engineering Ltd For Target Rs. 4,400 - JM Financial Institutional Securities
Source: JM Financial Services
2024-04-28 09:44:22 am
Add AIA Engineering Ltd. For Target Rs.4,210 By Centrum Broking AIAE’s consolidated sales in Q3FY24 fell 5% YoY to Rs11.7bn, 9% below our estimate. Mining volumes grew 21% YoY to 53,395 MT on a low base, and has remained at similar levels in past 3 quarters. Other segment (cement + power) volumes fell 24% YoY to 20,745 MT. Realization fell 9% YoY to Rs154,669/MT amid varied product mix of alloys. On a very high base, EBITDA margin fell 320ps YoY to 26.6%, above our estimate of 25.3%, translating to EBITDA/KG of Rs42, down 18% YoY. PAT fell...
Add AIA Engineering Ltd. For Target Rs.4,210 By Centrum Broking
Add AIA Engineering Ltd. For Target Rs.4,210 By Centrum Broking
Source: Centrum Broking Ltd
2024-03-26 01:57:40 pm
Buy AIA Engineering Ltd For Target Rs.3,910 - JM Financial Services AIA Engineering (AIAE) reported miss on revenue though PAT was ahead of estimates due to higher margins and higher other income. Net sales declined by 3% YoY to INR 12.9bn (JMFe: INR14bn) with volumes being flat YoY at 77,725MT. EBITDA grew by 23% YoY (JMFe: INR3.5bn) to INR3.8bn with EBITDA margin higher by 600bp YoY at 29.5% (JMFe: 25%) led by favourable mix and lower RM costs & freight rates. PAT grew 32%YoY at INR3.2bn (JMFe: INR 2.9bn). AIAE lowered its incremental volume guidance in...
Buy AIA Engineering Ltd For Target Rs.3,910 - JM Financial Services
Buy AIA Engineering Ltd For Target Rs.3,910 - JM Financial Services
Source: JM Financial Institutional Securities Ltd
2023-11-25 03:20:37 pm
Buy AIA Engineering Ltd For Target Rs.4,225 - LKP Securities AIA Engineering Limited (AIAE) is a dominant player in High Chrome Mill Internals (HCMI), a Global Duopoly. Highly engineered consumables are used for grinding and crushing in mining and cement industry and offer a sizeable play on global mining consumables space in grinding media for gold, copper and iron having an addressable market opportunity of ~2-2.5 mn tons. Mining offers immense growth prospects as only 20? 25% of consumables have shifted from conventional forged products to high chro...
Buy AIA Engineering Ltd For Target Rs.4,225 - LKP Securities
Buy AIA Engineering Ltd For Target Rs.4,225 - LKP Securities
Source: LKP Securities
2023-11-18 11:49:33 am
Buy AIA Engineering Ltd For Target Rs.4,360 - Centrum Broking Soft volumes but robust margin drive earnings beat AIAE’s consolidated sales in Q2FY24 fell 3% YoY to Rs12.9bn, 7% below our estimate. Mining volumes fell 4% YoY to 52,093MT, while non-mining volumes (cement + power) grew 5% YoY to 25,632MT. Realization fell 2% YoY to Rs163,893/MT. Gross margin expanded 110bps YoY/150bps QoQ to 57.8%. EBITDA grew 23% YoY to Rs3.8bn, leading to robust EBITDA margin of 29.5%, up 600bps YoY and above our estimate of 22.8%. Better margin profile was driv...
Buy AIA Engineering Ltd For Target Rs.4,360 - Centrum Broking
Buy AIA Engineering Ltd For Target Rs.4,360 - Centrum Broking
Source: Centrum Broking Limited
2023-11-10 03:05:53 pm