AIA Engineering Ltd logo

AIA Engineering Ltd

AIAENG NSE

Key Fundamentals

MidcapCastings & ForgingsIndustrial Products
Market Cap
₹40,520 Cr
Volatility
Moderate
P/E Ratio
32.78
EBITDA
₹1,189 Cr
Return on Equity
15.28%
Debt to Equity
0
Book Value
₹859.98
EPS
₹119.04
52W High
₹5,180
52W Low
₹3,001.1

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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52 extracted metrics + investor summaries across FY11–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company is almost debt free.

Weaknesses

5
  • The company has delivered a poor sales growth of 8.93% over past five years.
  • Earnings include an other income of Rs.487 Cr.
  • Dividend payout has been low at 13.0% of profits over last 3 years
  • Debtor days have increased from 77.7 to 96.5 days.
  • Working capital days have increased from 261 days to 537 days

Growth Rate

Revenue Growth
-5.71% ↗
Net Income Growth
20.07% ↗
Cash Flow Change
28.76% ↗
ROE
-10.38% ↗
ROCE
-12.28% ↗
EBITDA Margin (Avg.)
-23.46% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk medium

AIA Engineering Ltd is a nearly debt-free industrial products company with a market cap of Rs.42,406 Cr trading at a PE of 32.7x. The company has delivered consistent ROE of ~17% over 3-5 years but faces challenges with sluggish sales growth (6% TTM, -3% 3-year CAGR) and significant working capital deterioration from 261 to 537 days.

Bull Case 8
  • Company is virtually debt-free, providing strong balance sheet resilience and financial flexibility in a cyclical industrial sector
  • Consistent ROE of 17% maintained over 3, 5, and last year periods, indicating disciplined capital allocation
  • Compounded profit growth of 19% over 5 years outpaces sales growth, reflecting margin expansion and operating leverage
  • Stock CAGR of 42% over 1 year suggests strong market re-rating driven by improved earnings visibility
  • 10-year compounded profit growth of 12% demonstrates long-term earnings compounding ability
  • TTM profit growth of 15% is accelerating relative to the 3-year CAGR of 7%, signaling recovery momentum
  • Price-to-book of 5.16x paired with 17% ROE reflects a capital-efficient business earning well above cost of equity
  • Company has actively reduced debt, improving its interest cost structure and de-risking the balance sheet further
Bear Case 8
  • Working capital days have nearly doubled from 261 to 537 days, indicating severe cash conversion cycle deterioration and capital lock-up
  • 3-year compounded sales CAGR is negative at -3%, reflecting a sustained period of revenue contraction
  • Debtor days increased from 77.7 to 96.5 days, suggesting weaker collection efficiency or extended credit terms to customers
  • Other income of Rs.487 Cr forms a significant portion of earnings, raising questions about core operating profit quality
  • Dividend payout of only 13% of profits over last 3 years offers minimal income return to shareholders despite being debt-free
  • PE of 32.7x is elevated for a company delivering only 6% TTM sales growth, implying demanding valuation relative to top-line momentum
  • 5-year sales CAGR of only 8.93% classifies as poor growth for an industrial company in a growing economy
  • Dividend yield of 0.36% provides negligible cash return cushion for investors in a high-interest-rate environment

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Headwinds 2
  • PAT decline on margin pressure Aug 14

    Q1FY27 PAT declined slightly due to lower other income and margin pressure from elevated freight and raw material costs.

  • Tonnage guidance withheld Aug 13

    Management is withholding tonnage targets pending trial results for its New Generation Discharge System, creating near-term volume uncertainty.

Positives 4
  • Revenue up 12% in Q1FY27 Aug 14

    AIA Engineering posted 12.4% revenue growth in Q1FY27, signaling healthy demand for its industrial products.

  • CapEx guidance raised sharply Aug 13

    FY27 CapEx guidance raised to ₹350-400 crore from ₹130 crore, allocated to new corporate infrastructure and land acquisition, signaling long-term expansion confidence.

  • New Generation Discharge System trials Aug 14

    Management highlighted ongoing trials for its New Generation Discharge System as a key future growth driver.

  • Final dividend of ₹16 per share Aug 17

    Board proposed a final dividend of ₹16 per share (800%) for FY26, with record date September 5, 2026.

Neutral 2
  • AGM notice republished after error Aug 17

    AIA Engineering corrected a printing error in its 36th AGM notice; AGM scheduled for September 15, 2026 via VC/OAVM.

  • Q2FY27 earnings call scheduled Aug 6

    Investor conference call to discuss Q1FY27 (quarter ended June 30, 2026) unaudited results was scheduled for August 12, 2026.

TL;DR: AIA Engineering is delivering solid top-line growth at 12.4% in Q1FY27 and signaling aggressive long-term expansion with a near-3x increase in CapEx guidance. However, margin pressure from freight and raw material costs weighed on profitability, and volume guidance remains uncertain pending trial outcomes. The trend is cautiously improving — revenue momentum and investment appetite are strong, but near-term earnings quality needs watching as cost headwinds play out.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,240
1,295
1,169
1,150
1,020
1,044
1,066
1,157
1,039
1,048
1,067
1,266
1,168
Expenses
897
913
858
853
731
769
783
855
733
751
777
904
860
Operating Profit
343
382
311
297
289
276
283
302
306
297
290
363
308
OPM %
28%
30%
27%
26%
28%
26%
27%
26%
29%
28%
27%
29%
26%
Other Income
60
62
84
77
83
91
72
98
114
99
132
140
117
Interest
8
7
7
6
6
5
1
8
7
8
16
5
0
Depreciation
24
25
27
25
25
24
26
28
28
28
28
29
29
PBT
371
412
361
344
341
337
327
363
386
360
378
468
395
Tax %
26%
21%
22%
24%
24%
24%
21%
21%
21%
23%
22%
16%
24%
Net Profit
273
324
280
260
259
256
259
285
305
277
293
393
301
EPS in Rs
28.87
34.25
29.64
27.62
27.52
27.51
27.78
30.56
32.69
29.73
31.55
42.14
32.27
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,182
2,097
2,246
2,445
3,070
2,970
2,881
3,567
4,909
4,854
4,287
4,420
4,549
Expenses
1,593
1,484
1,607
1,906
2,406
2,285
2,220
2,841
3,663
3,513
3,134
3,164
3,291
Operating Profit
589
613
639
540
664
685
661
726
1,245
1,340
1,154
1,256
1,258
OPM %
27%
29%
28%
22%
22%
23%
23%
20%
25%
28%
27%
28%
28%
Other Income
83
101
104
122
121
142
170
156
235
281
343
485
487
Interest
8
8
8
11
11
10
8
8
25
33
26
37
30
Depreciation
70
66
72
66
79
98
94
92
93
100
103
113
114
PBT
594
641
662
585
694
719
730
781
1,362
1,488
1,368
1,592
1,601
Tax %
27%
29%
31%
24%
26%
18%
22%
21%
22%
24%
23%
20%
—
Net Profit
431
457
457
444
511
590
566
620
1,056
1,137
1,060
1,269
1,265
EPS in Rs
45.69
48.44
48.43
47
54.16
62.59
60.02
65.7
112
120
114
136
136
Div. Payout %
18%
37%
17%
17%
17%
43%
15%
14%
14%
13%
14%
12%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
19
19
19
19
19
19
19
19
19
19
19
19
Reserves
2,065
2,304
2,698
2,990
3,495
3,682
4,225
4,736
5,672
6,639
6,908
8,007
Borrowings
99
184
140
123
128
127
193
10
503
461
491
10
Other Liabilities
367
278
333
426
391
334
321
361
437
375
416
502
Total Liabilities
2,549
2,785
3,190
3,559
4,033
4,162
4,758
5,125
6,630
7,494
7,833
8,538
Fixed Assets
551
672
670
671
845
890
811
790
1,003
1,110
1,175
1,233
CWIP
46
38
43
97
60
32
161
210
107
92
77
16
Investments
637
946
960
1,092
1,145
1,418
809
1,055
2,254
3,043
3,919
4,302
Other Assets
1,314
1,128
1,518
1,699
1,984
1,821
2,977
3,070
3,266
3,249
2,663
2,987
Total Assets
2,549
2,785
3,190
3,559
4,033
4,162
4,758
5,125
6,630
7,494
7,833
8,538
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
307
595
231
294
190
679
598
-40
868
903
1,162
592
Investing
-257
-449
-16
-196
-162
-310
-351
101
-1,212
-819
-203
-124
Financing
-83
-208
-91
-158
0
-429
67
-267
395
-211
-743
-660
Net Cash Flow
-33
-63
124
-60
27
-60
314
-205
51
-127
217
-193
Free Cash Flow
125
418
151
157
-9
548
475
-165
675
693
1,027
491
CFO/OP
85
125
61
84
56
121
118
17
94
92
123
69
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
66
75
80
90
84
80
81
82
64
66
70
97
Inventory Days
220
199
263
209
234
242
241
304
215
212
214
270
Days Payable
57
50
68
60
52
42
53
49
46
31
41
47
Cash Conversion Cycle
229
223
275
239
266
279
269
337
233
247
243
320
Working Capital Days
119
107
133
132
154
149
136
191
102
129
118
537
ROCE %
29%
25%
25%
20%
20%
19%
17%
17%
25%
23%
19%
21%

Shareholding Pattern

As of Jun 2026
Promoters 58.50%
DIIs 22.10%
FIIs 16.87%
Public 1.97%
Others 0.56%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.47%
58.50%
58.50%
58.50%
58.50%
58.50%
58.50%
58.50%
58.50%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
18.17%
17.68%
17.94%
17.21%
17.06%
16.99%
16.66%
16.58%
16.79%
16.87%
DIIs
19.41%
19.37%
19.28%
19.71%
20.27%
20.11%
20.06%
21.03%
21.01%
20.46%
19.86%
20.05%
20.54%
20.95%
20.84%
21.85%
22.04%
22.03%
22.19%
22.26%
22.03%
22.10%
Government
0.33%
0.33%
0.31%
0.31%
0.31%
0.31%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
2.33%
2.20%
2.18%
2.13%
2.17%
2.19%
2.23%
2.20%
2.01%
2.05%
2.17%
2.20%
2.26%
2.30%
2.17%
1.98%
1.94%
1.98%
2.11%
2.12%
2.15%
1.97%
Others
19.47%
19.63%
19.77%
19.39%
18.79%
18.92%
19.24%
18.30%
18.51%
19.02%
19.50%
19.28%
0.55%
0.60%
0.54%
0.46%
0.46%
0.50%
0.54%
0.55%
0.54%
0.56%
No. of Shareholders
20,927
20,548
21,681
23,435
22,711
25,054
30,038
27,013
37,196
37,942
40,326
43,427
44,943
45,928
50,461
53,263
54,166
55,456
59,297
55,406
59,500
58,979

Documents

1
Concall - May 2017 May 2017
2
Concall - Aug 2017 Aug 2017
3
Concall - Nov 2017 Nov 2017
4
Concall - Feb 2018 Feb 2018
5
Concall - Mar 2018 Mar 2018

Frequently Asked Questions about AIA Engineering Ltd

What does AIA Engineering Ltd do?
AIA manufactures high-chrome grinding media, liners and diaphragms, collectively known as mill internals. These are used for crushing and grinding operations in the cement, power utility & aggregates and mining industries. [1]
Where is AIA Engineering Ltd (AIAENG) listed?
AIA Engineering Ltd is listed on the Indian stock exchanges. It is listed on NSE: AIAENG and BSE: 532683. You can view its live share price, financials, and ratios on Tapetide.
Which sector does AIA Engineering Ltd belong to?
AIA Engineering Ltd operates in the Industrial Products sector within the Castings & Forgings industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of AIA Engineering Ltd?
AIA Engineering Ltd has a market capitalisation of approximately ₹40519.70 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of AIA Engineering Ltd?
The Price-to-Earnings (PE) ratio of AIA Engineering Ltd is 32.78. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of AIA Engineering Ltd?
Over the past 52 weeks, AIA Engineering Ltd has traded between a low of ₹3,001.1 and a high of ₹5,180. This range helps investors understand the stock's price volatility and recent trading levels.
Does AIA Engineering Ltd pay dividends?
Yes, AIA Engineering Ltd has a dividend yield of 0.36%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of AIA Engineering Ltd?
AIA Engineering Ltd has a Return on Equity (ROE) of 15.28%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research AIA Engineering Ltd on Tapetide?
On Tapetide, you can view AIA Engineering Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

AIA manufactures high-chrome grinding media, liners and diaphragms, collectively known as mill internals. These are used for crushing and grinding operations in the cement, power utility & aggregates and mining industries. [1]

Website aiaengineering.com
CEO Mr. Bhadresh Kantilal Shah
Employees 1,306
Listed 2005-12-14
Face Value ₹ 2
Issued Size 9,33,20,370

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