AIA Engineering Ltd

About

AIA Engineering is engaged in one of the worlds leading manufacturers of value-added, impact abrasion, and corrosion resistant High Chrome Mill Internals (HCMI).(Source : 201903 Annual Report Page No: 04)

  • Market Cap 16,027 Cr.
  • Current Price 1,699
  • High / Low 1,990 / 1,102
  • Stock P/E 18.3
  • Book Value 383
  • Dividend Yield 1.59 %
  • ROCE 26.5 %
  • ROE 23.7 %
  • Face Value 2.00

Pros

  • Company is virtually debt free.
  • Company has been maintaining a healthy dividend payout of 22.37%

Cons

  • The company has delivered a poor growth of 4.24% over past five years.
  • Tax rate seems low
  • Earnings include an other income of Rs.512.47 Cr.
  • Promoter holding has decreased over last 3 years: -3.18%
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
497 504 674 684 718 696 740 602 624 649 712 491
418 399 505 527 575 562 603 486 484 492 553 356
Operating Profit 79 105 169 157 143 134 137 116 140 157 159 134
OPM % 16% 21% 25% 23% 20% 19% 19% 19% 22% 24% 22% 27%
Other Income 59 28 113 18 43 33 22 33 113 39 300 60
Interest 2 1 3 2 2 2 2 1 1 1 1 1
Depreciation 16 18 14 16 18 21 22 23 22 25 26 24
Profit before tax 122 114 265 157 166 144 135 125 230 171 432 169
Tax % 25% 21% 19% 33% 35% 29% 27% 33% 2% 22% 10% 26%
Net Profit 92 90 215 105 109 103 98 83 226 133 390 126
EPS in Rs 9.73 9.59 22.83 11.18 11.51 10.89 10.40 8.84 23.96 14.13 41.33 13.31
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
922 803 985 1,272 1,586 1,783 2,094 1,820 2,066 2,150 2,838 2,577 2,476
721 624 790 1,035 1,324 1,334 1,583 1,304 1,506 1,684 2,266 2,003 1,886
Operating Profit 201 179 196 238 262 449 511 516 560 467 572 574 591
OPM % 22% 22% 20% 19% 17% 25% 24% 28% 27% 22% 20% 22% 24%
Other Income 23 28 16 12 19 10 137 358 139 217 116 485 512
Interest 2 2 1 4 6 7 5 6 6 8 8 7 5
Depreciation 16 19 21 25 31 36 68 64 71 64 78 96 97
Profit before tax 206 186 189 220 245 416 575 804 621 611 602 957 1,001
Tax % 35% 34% 31% 31% 31% 31% 28% 23% 33% 23% 31% 13%
Net Profit 133 123 130 151 169 285 415 616 417 470 415 833 875
EPS in Rs 14.20 12.99 13.76 16.00 17.93 30.22 43.95 65.27 44.24 49.82 43.98 88.27 92.73
Dividend Payout % 18% 19% 22% 19% 22% 20% 18% 28% 18% 16% 20% 31%
Compounded Sales Growth
10 Years:12%
5 Years:4%
3 Years:8%
TTM:-10%
Compounded Profit Growth
10 Years:21%
5 Years:14%
3 Years:30%
TTM:123%
Stock Price CAGR
10 Years:15%
5 Years:12%
3 Years:7%
1 Year:-2%
Return on Equity
10 Years:20%
5 Years:20%
3 Years:18%
Last Year:24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
19 19 19 19 19 19 19 19 19 19 19 19
Reserves 630 725 822 940 1,065 1,293 1,633 2,032 2,403 2,741 3,157 3,593
Borrowings 37 2 2 27 147 117 90 170 140 118 127 108
283 352 134 156 199 261 282 204 277 328 306 274
Total Liabilities 969 1,097 976 1,142 1,430 1,691 2,023 2,425 2,839 3,206 3,609 3,994
201 205 242 316 339 367 530 652 650 651 822 865
CWIP 7 10 13 18 31 100 46 38 42 95 60 32
Investments 56 156 165 127 192 516 616 923 941 1,047 1,094 1,433
705 726 555 681 867 708 830 812 1,206 1,413 1,633 1,664
Total Assets 969 1,097 976 1,142 1,430 1,691 2,023 2,425 2,839 3,206 3,609 3,994

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
154 87 36 54 165 380 325 336 49 240 147 492
33 -113 -59 -52 -119 -428 -196 -212 15 -64 -161 -43
19 -66 -19 -8 83 -77 -88 -213 -76 -163 4 -430
Net Cash Flow 206 -92 -41 -6 130 -126 41 -89 -12 13 -10 18

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 34% 26% 24% 25% 22% 33% 36% 38% 23% 21% 18% 27%
Debtor Days 61 84 90 85 54 45 39 80 117 119 116 137
Inventory Turnover 5.86 4.23 4.61 4.91 4.79 4.32 5.08 4.19 4.21 3.79 4.21 3.25

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
61.65 61.65 58.47 58.47 58.47 58.47 58.47 58.47 58.47 58.47 58.47 58.47
23.94 23.09 23.00 22.45 21.59 21.85 21.81 21.59 21.37 21.34 21.19 20.49
9.42 10.37 13.26 13.70 14.26 14.47 14.54 16.08 16.38 16.45 17.23 18.04
0.19 0.20 0.26 0.26 0.26 0.26 0.26 0.26 0.33 0.33 0.33 0.33
4.79 4.68 5.01 5.12 5.42 4.95 4.92 3.60 3.45 3.41 2.78 2.67

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