AIA Engineering Ltd. share price target

Falling raw material prices during the first half favored the margins - OPM stood at 29.9% vs 28.8% same period last year; NPM stood at 22.0% in H1FY17 vs 20.7%. The consumption of raw material relative to sales fell to...

Reported revenues fell 8.4% YoY to ~| 529.5 crore (vs. I-direct estimate: | 549.2 crore). The key positive surprise was volume growth for Q2FY17 at 51969 tonnes, up 21% YoY, vs. our estimate of 49940 tonnes. Coupled with this, mining segment volumes made a smart comeback with 30.78% YoY and 9.2% QoQ growth at 31858 tonnes while the cement and utility segment posting muted volume growth at 20111 tonnes. The company has guided for an incremental volume of 20000-25000 tonnes in FY17E over FY16. With a recovery...

ICICI Securities Ltd | Retail Equity Research Revenues came in at | 500.4 crore vs. our estimate of | 559.2 crore. Volume growth for Q1FY17 was at 47500 tonnes, up 5.3% YoY vs. our estimate of 49000 tonnes. The key positive was the 23% YoY growth in mining segment volumes at 29187 tonnes while the cement and utility segment declined 14% YoY to 18385 tonnes. The company has guided for an incremental volume of 20000-25000...

ctures and markets a wide range of high chromium consumable wear parts (mill internals) nals) which are used in the process of...

ICICI Securities Ltd | Retail Equity Research Revenues declined 2.1% YoY to | 592 crore, higher than our expectations of | 535.6 crore. The key surprise came in from 5% YoY...

Suturing for a voluminous growth by near doubling of capacity: AIA manufactures High Chrome Mill Internals (HCMI) used in the econdary mining activity, cement and utilities sectors. The company by end of FY18E could hike the casting capacity to 4.4 lakh tonnes at a CapEx of ~ Rs.3,800mn through FY18E. We estimate payback period for this said capex to be around ~ 2.5-3 years at over three-fourths of utilisation beginning end of FY18E.

in crushing/grinding operations in cement, mining and thermal power plants. It offers wide range of products such as tube mill internals, HRCS castings and crusher parts for cement, mining...