AIA Engineering Ltd. share price target

AIA Engineering Ltd Q2FY19 results Comment Revenue grew by 3.52% to Rs. 715.28 Cr in Q2FY19 when compared to the previous quarter. Also, it increased by 31.74% when compared with Q2FY18.

AIA Q2 in Line with Estimates: AIA Engineering's revenue grew by 33% YoY basis to Rs. 7.4 bn and earnings grew by 40% YoY basis to Rs. 12.8 in Q2 which is in line with our estimates. Volume growth for Q2 grew at ~ 13% YoY basis to ~ 61k tonnes and realization grew after several quarters by 16% YoY basis to ~ Rs. 116/kg in Q2.

AIA Engineering reported revenues of |740.6 crore better than our estimates of | 720.8 crore registering strong growth of 32.5% on YoY basis. The sales volume came in at 61695 tonnes registering a growth of 13.7% while production volumes grew by 28% to 72262 tonnes on YoY. Mining segment which accounts for 65% of total sale volume, registered sales volume growth of 18.4% to 40007 tonnes YoY. The net realisation per tonne grew by 15.8% on YoY basis to 115.9 per kg owning to foreign exchange gains....

We expect strong revenue/PAT CAGR of 22%/17% for FY18-20E led by the company's established global footprint, strong replacement demand in mining segment and capacity expansion....

AIA Q1 in Line with Estimates: by 19% YoY basis to Rs. 11.1 in Q1FY19 which is in line with our estimates. Sales volume growth for Q1 was at ~ 13% YoY basis to ~ 64k tonnes and realization grew after several quarters by 5.9% YoY basis to ~ Rs. 107/kg in Q1.

ICICI Securities Ltd | Retail Equity Research AIA Engineering reported revenues of | 715.2 crore, better than our estimate of | 680.1 crore registering strong growth of 25.5% on YoY The sales volume came in at 64211 MT registering growth of 15.3% while production volumes grew 23% to 69843 YoY. Mining segment sales volume grew 15% to 39726 MT YoY. Net realisation per tonne grew 8.0% YoY to | 107.6 per kg EBITDA came in at | 155.0 crore, higher than our estimate of | 152.4...

AIA Engineering revenue grew by 14.9% and earnings grew lower by 32% in Q4FY18 due to lower depreciation and higher other income. Volume growth was at 13.9% and realization growth was a mere 0.9% in Q4FY18. For the REfull-year, Volume grew by 6.6% and realization grew by 2.1%, while FY18 earningsde-grew by 3%.

Revenue grew by 29.51% to Rs. 720.57 Cr in Q4FY18 when compared to the previous quarter. AIA Engineering Ltd Q4FY18 results Comment

ICICI Securities Ltd | Retail Equity Research AIA Engineering reported better-than-expected Q4FY18 results. Revenues were at | 743.9 crore vs. our estimate of | 640.8 crore posting strong growth of 14.9% on a YoY basis. The other operating income was at | 49.5 crore due to increase in treasury income and foreign gains. FY18 revenues grew 9.7% to | 2374.8 crore During Q4FY18, AIA's volumes grew 14.3% to 66375 MT owing to robust growth in the mining segment, which grew 27% to 37591 MT....

AIA Engineering (AIAE), for Q3FY18 on a consolidated basis, continued to witness EBITDA margin pressure on account of higher raw material prices (Scrap prices were higher although ferro chrome prices were stable QoQ), currency volatility and pricing strategy to acquire new clients. EBITDA margins contracted by 712bps YoY to 22.2%. Sales volume for the quarter declined by 9% to 51,392 tonne. Revenue and net profit were down 3% to 572 crore and 4% to 116 crore....