AIA Engineering Ltd

AIA Engineering Ltd

₹ 4,439 -1.12%
10 Jun - close price
About

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]

Key Points

Products & Services
The company manufactures various sizes of high chrome grinding media balls, which are components of mill internals used in the crushing and grinding processes in the cement, mining, and thermal power industries. The company employs a casting process to produce these products. It is the world’s second-largest producer of grinding media and mill liners for India’s cement industry.[1] [2]

  • Market Cap 41,425 Cr.
  • Current Price 4,439
  • High / Low 4,780 / 3,001
  • Stock P/E 32.6
  • Book Value 860
  • Dividend Yield 0.36 %
  • ROCE 21.1 %
  • ROE 17.0 %
  • Face Value 2.00

Pros

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

Cons

  • The company has delivered a poor sales growth of 8.93% over past five years.
  • Earnings include an other income of Rs.485 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

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,274 1,240 1,295 1,169 1,150 1,020 1,044 1,066 1,157 1,039 1,048 1,067 1,266
958 897 913 858 853 731 769 783 855 733 751 777 904
Operating Profit 316 343 382 311 297 289 276 283 302 306 297 290 363
OPM % 25% 28% 30% 27% 26% 28% 26% 27% 26% 29% 28% 27% 29%
64 60 62 84 77 83 91 72 98 114 99 132 140
Interest 10 8 7 7 6 6 5 1 8 7 8 16 5
Depreciation 23 24 25 27 25 25 24 26 28 28 28 28 29
Profit before tax 346 371 412 361 344 341 337 327 363 386 360 378 468
Tax % 23% 26% 21% 22% 24% 24% 24% 21% 21% 21% 23% 22% 16%
268 273 324 280 260 259 256 259 285 305 277 293 393
EPS in Rs 28.43 28.87 34.25 29.64 27.62 27.52 27.51 27.78 30.56 32.69 29.73 31.55 42.14
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,182 2,097 2,246 2,445 3,070 2,970 2,881 3,567 4,909 4,854 4,287 4,420
1,593 1,484 1,607 1,906 2,406 2,285 2,220 2,841 3,663 3,513 3,134 3,164
Operating Profit 589 613 639 540 664 685 661 726 1,245 1,340 1,154 1,256
OPM % 27% 29% 28% 22% 22% 23% 23% 20% 25% 28% 27% 28%
83 101 104 122 121 142 170 156 235 281 343 485
Interest 8 8 8 11 11 10 8 8 25 33 26 37
Depreciation 70 66 72 66 79 98 94 92 93 100 103 113
Profit before tax 594 641 662 585 694 719 730 781 1,362 1,488 1,368 1,592
Tax % 27% 29% 31% 24% 26% 18% 22% 21% 22% 24% 23% 20%
431 457 457 444 511 590 566 620 1,056 1,137 1,060 1,269
EPS in Rs 45.69 48.44 48.43 47.00 54.16 62.59 60.02 65.70 111.95 120.39 113.67 136.11
Dividend Payout % 18% 37% 17% 17% 17% 43% 15% 14% 14% 13% 14% 12%
Compounded Sales Growth
10 Years: 8%
5 Years: 9%
3 Years: -3%
TTM: 3%
Compounded Profit Growth
10 Years: 12%
5 Years: 19%
3 Years: 7%
TTM: 22%
Stock Price CAGR
10 Years: 16%
5 Years: 18%
3 Years: 11%
1 Year: 26%
Return on Equity
10 Years: 16%
5 Years: 17%
3 Years: 17%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 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
99 184 140 123 128 127 193 10 503 461 491 10
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
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
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

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
307 595 231 294 190 679 598 -40 868 903 1,162 592
-257 -449 -16 -196 -162 -310 -351 101 -1,212 -819 -203 -124
-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%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 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%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Installed Capacity
MTPA

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Sales Volume
MT
Production Volume
MT
Mining Segment Sales Volume
MT
Order Book
Rs. Crore

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

12 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
58.47% 58.47% 58.47% 58.47% 58.47% 58.50% 58.50% 58.50% 58.50% 58.50% 58.50% 58.50%
18.05% 18.50% 18.29% 18.16% 17.68% 17.93% 17.21% 17.06% 17.00% 16.66% 16.57% 16.79%
20.93% 20.29% 20.46% 20.53% 20.94% 20.83% 21.84% 22.03% 22.02% 22.18% 22.26% 22.03%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00%
2.56% 2.74% 2.78% 2.82% 2.91% 2.73% 2.43% 2.40% 2.48% 2.64% 2.66% 2.69%
No. of Shareholders 37,94240,32643,42744,94345,92850,46153,26354,16655,45659,29755,40659,500

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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