On Consolidated basis
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating
income) of AIA Engineering has increased 50.1% to Rs 1,328.66
crore.
Operating profit margin has jumped
from 18.29% to 23.48%, leading to 92.7% rise in operating profit to Rs 311.99
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 42.82% to 42.95%. Employee cost
decreased from 3.372% to 2.8%. Other expenses fell from 32.06% to 30.23%.
Other
income declined 10.0% to Rs 32.14 crore. PBIDT rose 74.1% to Rs 344.13
crore. Provision for interest up 379.5% to Rs 3.87crore. Loan
funds rose to Rs 4656.85 crore as of 30 September 2022 from Rs 9.838 crore as
of 30 September 2021. Inventories rose to Rs 12628.23 crore as of 30
September 2022 from Rs 1226.00 crore as of 30 September 2021. Sundry
debtors were higher at Rs 870.58 crore as of 30 September 2022 compared to Rs 800.14
crore as of 30 September 2021. Cash and bank balance declined from
Rs 506.10 crore as of 30 September 2021 to Rs 398.34 crore as of 30 September
2022. Investments rose to Rs 1,745.39 crore as of 30 September 2022
from Rs 1,054.92 crore as of 30 September 2021 .
PBDT
rose 72.9% to Rs 340.26 crore. Provision for depreciation rose 12.9%
to Rs 24.56 crore. Fixed assets increased to Rs 1,009.24 crore as of
30 September 2022 from Rs 977.50 crore as of 30 September
2021. Intangible assets remained flat at Rs 19.89 crore.
Profit
before tax grew 80.3% to Rs 315.70 crore. Provision for tax was
expense of Rs 70.79 crore, compared to Rs 37.10 crore. Effective tax
rate was 22.42% compared to 21.19%.
Profit
after tax rose 77.9% to Rs 244.81 crore.
Equity
capital stood at Rs 18.86 crore as of 30 September 2022 to Rs 18.86 crore as of
30 September 2021. Per share face Value remained same at Rs
2.00.
Promoters’
stake was 58.47% as of 30 September 2022 ,compared to 58.47% as of 30 September
2021 .
Year-to-date (YTD) results analysis
Net sales (including other operating income) of AIA Engineering has increased 48.2%
to Rs 2408.4 crore.
Operating profit margin has jumped
from 20.54% to 23.22%, leading to 67.5% rise in operating profit to Rs 559.2
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 39% to 42.2%.
Employee cost decreased from 3.9% to 3.0%. Other
expenses fell from 31.5% to 29.5%.
Other
income down 29.9% to Rs 52.8 crore. PBIDT rose 49.6% to Rs 612
crore. Provision for interest up 221.9% to Rs 5.0 crore. Loan
funds rose to Rs 4656.85 crore as of 30 September 2022 from Rs 9.838 crore as
of 30 September 2021. Inventories rose to Rs 12628.23 crore as of 30
September 2022 from Rs 1226.00 crore as of 30 September 2021. Sundry
debtors were higher at Rs 870.58 crore as of 30 September 2022 compared to Rs 800.14
crore as of 30 September 2021. Cash and bank balance declined from
Rs 506.10 crore as of 30 September 2021 to Rs 398.34 crore as of 30 September
2022. Investments rose to Rs 1,745.39 crore as of 30 September 2022
from Rs 1,054.92 crore as of 30 September 2021.
PBDT rose 48.9% to Rs 607.0
crore. Provision for depreciation down 1.2% to Rs 45.4
crore. Fixed assets increased to Rs 1,009.24 crore as of 30
September 2022 from Rs 977.50 crore as of 30 September
2021. Intangible assets remained flat at Rs 19.89 crore.
Profit before tax grew 55.3% to Rs 561.6
crore. Provision for tax was expense of Rs 125.3 crore, compared to
Rs 74.5 crore. Effective tax rate was 22.3% compared to 20.61%.
Profit after tax rose 51.7% to Rs 435.28
crore.
Equity
capital stood at Rs 18.86 crore as of 30 September 2022 to Rs 18.86 crore as of
30 September 2021. Per share face Value remained same at Rs
2.00.
Promoters’
stake was 58.47% as of 30 September 2022 ,compared to 58.47% as of 30 September
2021 .
Full year results analysis
Net sales (including other operating income) of AIA Engineering has increased
23.77% to Rs 3566.55 crore.
Operating profit margin has declined
from 22.74% to 20.21%, leading to 10.03% rise in operating profit to Rs 720.95
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 39.49% to 46.79%. Employee cost decreased
from 4.65% to 3.54%. Other expenses fell from 33.06% to 31.37%.
Power and Oil fuel cost fell from 9.98% to 8.34%.
Freight charges rose from 7.98% to 10.71%.
Other
income fell 9.24% to Rs 156.29 crore. PBIDT rose 6.02% to Rs 877.24
crore. Provision for interest fell 10.26% to Rs 3.85
crore. Loan funds declined from Rs 192.94 crore as of 31 March 2021
to Rs 9.83 crore as of 31 March 2022. Inventories rose to Rs
1,226.01 crore as of 31 March 2022 from Rs 754.78 crore as of 31 March 2021. Sundry
debtors were higher at Rs 800.15 crore as of 31 March 2022 compared to Rs
638.47 crore as of 31 March 2021. Cash and bank balance declined
from Rs 1,395.45 crore as of 31 March 2021 to Rs 506.10 crore as of 31 March
2022. Investments rose to Rs 1,055.41 crore as of 31 March 2022 from
Rs 808.58 crore as of 31 March 2021 .
PBDT
rose 6.10% to Rs 873.39 crore. Provision for depreciation fell 1.48%
to Rs 92.12 crore. Fixed assets increased to Rs 977.50 crore as of
31 March 2022 from Rs 952.48 crore as of 31 March 2021. Intangible
assets increased from Rs 19.89 crore to Rs 22.73 crore.
Profit
before tax grew 7.08% to Rs 781.27 crore. Share of profit/loss were
nil in both the periods. Provision for tax was expense of Rs 161.65
crore, compared to Rs 163.94 crore. Effective tax rate was 20.69%
compared to 22.47%.
Minority
interest increased 85.71% to Rs -0.06 crore. Net profit attributable
to owners of the company increased 9.46% to Rs 619.68 crore.
Equity
capital stood at Rs 18.86 crore as of 31 March 2022 to Rs 18.86 crore as of 31
March 2021. Per share face Value remained same at Rs
2.00.
Promoters’
stake was 58.47% as of 31 March 2022, compared to 58.47% as of 31 March 2021
.
Cash
flow from operating activities has turned negative Rs 39.22 crore for year
ended March 2022 from positive Rs 598.46 crore for year ended March
2021. Cash flow used in acquiring fixed assets during the year ended
March 2022 stood at Rs 125.47 crore, compared to Rs 124.17 crore during the
year ended March 2021.
Others:
CAPEX: Company
plans to incur CAPEX of Rs 300 cr in FY2023 which includes Mill Lining Project,
Grinding Media Expansion Project and Hybrid Power Project Wind and Solar Power
in addition to general capex.
Expansion:
The company has commissioned the manufacturing plant of Mill Liners with a
capacity of 50,000 Mt. The company has
decided to go ahead with its brownfield capacity expansion of grinding media.
It plans to add 80,000 Mt of capacity at an estimated capex of Rs. 200 Crores
and commissioning by end of FY2024.
Order
Book: Order book as at 1st July 2022: Rs. 784 cr.
|
AIA Engineering : Consolidated
Results
|
|
|
2209 (3)
|
2109 (3)
|
Var. (%)
|
2209 (3)
|
2109 (3)
|
Var. (%)
|
2203 (12)
|
2103 (12)
|
Var. (%)
|
|
Sales
|
1328.66
|
885.17
|
50.1
|
2408.4
|
1625.1
|
48.2
|
3566.55
|
2881.49
|
23.8
|
|
OPM (%)
|
23.48
|
18.29
|
519 bps
|
23.22
|
20.54
|
268 bps
|
20.21
|
22.74
|
-253 bps
|
|
OP
|
311.99
|
161.93
|
92.7
|
559.2
|
333.8
|
67.5
|
720.95
|
655.25
|
10.0
|
|
Other inc.
|
32.14
|
35.72
|
-10.0
|
52.8
|
75.2
|
-29.9
|
156.29
|
172.20
|
-9.2
|
|
PBIDT
|
344.13
|
197.65
|
74.1
|
612.0
|
409.1
|
49.6
|
877.24
|
827.44
|
6.0
|
|
Interest
|
3.87
|
0.81
|
379.5
|
5.0
|
1.5
|
221.9
|
3.85
|
4.29
|
-10.3
|
|
PBDT
|
340.26
|
196.84
|
72.9
|
607.0
|
407.5
|
48.9
|
873.38
|
823.15
|
6.1
|
|
Dep.
|
24.56
|
21.75
|
12.9
|
45.4
|
45.9
|
-1.2
|
92.12
|
93.50
|
-1.5
|
|
PBT
|
315.70
|
175.09
|
80.3
|
561.6
|
361.6
|
55.3
|
781.27
|
729.65
|
7.1
|
|
Share of Profit/(Loss) from
Associates
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
PBT before EO
|
315.70
|
175.09
|
80.3
|
561.6
|
361.6
|
55.3
|
781.27
|
729.65
|
7.1
|
|
EO Income
|
-
|
-
|
|
-
|
-
|
|
-
|
-
|
|
|
PBT after EO
|
315.70
|
175.09
|
80.3
|
561.6
|
361.6
|
55.3
|
781.27
|
729.65
|
7.1
|
|
Taxation
|
70.79
|
37.10
|
90.8
|
125.3
|
74.5
|
68.1
|
161.65
|
163.94
|
-1.4
|
|
PAT
|
244.91
|
137.99
|
77.5
|
436.4
|
287.1
|
52.0
|
619.62
|
565.71
|
9.5
|
|
Minority Interest (MI)
|
0.11
|
0.39
|
|
1.10
|
0.16
|
|
(0.06)
|
(0.42)
|
-84.9
|
|
Net profit
|
244.81
|
137.59
|
77.9
|
435.28
|
286.92
|
51.7
|
619.68
|
566.12
|
9.5
|
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
65.70
|
60.0
|
|
|
* EPS is on current equity of Rs
18.86 crore, Face value of Rs 2
|
|
# EPS is not annualised due to
seasonality of business
|
|
Figures in Rs crore
|
|
Source: Capitaline Corporate
Database
|
|
Peer Comparision (Standalone)
|
Q-202209
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
14-Nov-2022
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
AIA Engineering Ltd
|
1,066.09
|
61.39
|
290.99
|
124.17
|
233.48
|
111.62
|
2,723.00
|
45.05
|
80.26
|
33.93
|
|
Akar Auto Industries Ltd
|
88.42
|
47.76
|
5.00
|
12.87
|
1.26
|
-18.18
|
79.40
|
129.81
|
6.18
|
12.84
|
|
Bhagwati Autocast Ltd
|
42.03
|
21.51
|
3.85
|
146.79
|
2.00
|
238.98
|
250.45
|
63.37
|
8.26
|
30.31
|
|
Bharat Forge Ltd
|
1,863.94
|
16.02
|
451.80
|
-6.91
|
268.57
|
-13.85
|
859.40
|
10.53
|
22.33
|
38.49
|
|
Creative Castings Ltd
|
12.21
|
89.01
|
1.08
|
-0
|
1.08
|
28.57
|
578.20
|
43.44
|
27.46
|
21.06
|
|
DCM Ltd
|
0.00
|
-
|
-1.94
|
-97.96
|
4.99
|
30.29
|
78.05
|
-21.52
|
3.98
|
19.59
|
|
Electrosteel Castings Ltd
|
1,697.55
|
59.28
|
148.78
|
29.01
|
63.93
|
17.54
|
40.10
|
16.40
|
6.49
|
6.18
|
|
Ganga Forging Ltd
|
9.21
|
18.99
|
0.44
|
-25.42
|
0.08
|
-91.01
|
4.95
|
-70.27
|
-0.02
|
-
|
|
Hilton Metal Forging Ltd
|
27.28
|
52.66
|
3.05
|
LP
|
1.11
|
LP
|
75.10
|
392.46
|
4.15
|
18.11
|
|
Investment & Precision Castings Ltd
|
43.78
|
38.46
|
3.83
|
51.98
|
0.44
|
LP
|
305.00
|
2.80
|
-0.66
|
-
|
|
Jayaswal Neco Industries Ltd
|
1,660.87
|
4.01
|
110.40
|
-74.37
|
140.75
|
24.73
|
26.00
|
-12.31
|
5.15
|
5.05
|
|
Kalyani Forge Ltd
|
73.54
|
16.86
|
-2.04
|
PL
|
0.12
|
-88.99
|
290.30
|
45.40
|
8.60
|
33.76
|
|
KIC Metaliks Ltd
|
201.43
|
43.23
|
13.32
|
-39.51
|
4.88
|
-54.77
|
39.35
|
-21.54
|
7.41
|
5.31
|
|
Krishanveer Forge Ltd
|
23.76
|
92.39
|
1.23
|
-7.52
|
0.65
|
85.71
|
46.60
|
2.42
|
2.47
|
18.88
|
|
LGB Forge Ltd
|
29.80
|
-18
|
-1.55
|
PL
|
-2.51
|
PL
|
9.94
|
43.85
|
-0.08
|
-
|
|
M M Forgings Ltd
|
336.29
|
32.29
|
62.36
|
30.79
|
31.88
|
15.01
|
771.75
|
-11.12
|
42.10
|
18.33
|
|
Magna Electro Castings Ltd
|
46.12
|
23.25
|
8.46
|
68.19
|
6.75
|
100.89
|
396.00
|
120.00
|
33.27
|
11.90
|
|
Mahindra CIE Automotive Ltd
|
1,208.39
|
37.48
|
168.12
|
35.94
|
100.38
|
2.38
|
286.40
|
1.27
|
11.04
|
25.95
|
|
National Fittings Ltd
|
24.52
|
30.84
|
1.96
|
63.33
|
1.26
|
63.64
|
62.60
|
7.19
|
3.12
|
20.09
|
|
Nelcast Ltd
|
328.52
|
38.03
|
26.95
|
114.06
|
12.15
|
261.61
|
88.85
|
12.33
|
3.31
|
26.88
|
|
Nitin Castings Ltd
|
37.66
|
66.27
|
2.74
|
126.45
|
1.46
|
6.57
|
137.80
|
50.35
|
8.81
|
15.64
|
|
Palco Metals Ltd
|
0.00
|
-
|
0.00
|
-
|
0.00
|
-
|
66.95
|
180.71
|
0.90
|
74.39
|
|
Poojawestern Metaliks Ltd
|
5.14
|
-21.53
|
0.74
|
85
|
0.23
|
64.29
|
51.15
|
65.00
|
1.01
|
50.86
|
|
Porwal Auto Components Ltd
|
36.12
|
25.77
|
1.76
|
11.39
|
-0.73
|
-40.38
|
26.30
|
13.85
|
-1.79
|
-
|
|
Pradeep Metals Ltd
|
65.28
|
30.59
|
8.18
|
39.12
|
5.52
|
43.01
|
154.65
|
80.35
|
9.59
|
16.13
|
|
Ramkrishna Forgings Ltd
|
762.55
|
31.71
|
170.07
|
22.2
|
63.94
|
27.6
|
237.95
|
19.17
|
15.16
|
15.69
|
|
Samrat Forgings Ltd
|
53.11
|
33.85
|
4.26
|
54.91
|
1.51
|
118.84
|
122.85
|
-13.06
|
9.64
|
12.74
|
|
Simplex Castings Ltd
|
25.70
|
31.39
|
17.96
|
401.68
|
0.79
|
618.18
|
42.30
|
2.79
|
3.95
|
10.71
|
|
Smiths & Founders (India) Ltd
|
2.71
|
-18.13
|
0.20
|
-65.52
|
0.08
|
-82.22
|
5.80
|
40.78
|
0.09
|
61.63
|
|
Sona BLW Precision Forgings Ltd
|
603.75
|
14.44
|
151.05
|
12.27
|
83.26
|
10.95
|
455.35
|
-34.01
|
5.97
|
76.23
|
|
Steelcast Ltd
|
121.17
|
56.53
|
28.29
|
57.78
|
17.56
|
79
|
434.50
|
44.50
|
24.64
|
17.63
|
|
Synergy Green Industries Ltd
|
85.04
|
6.53
|
5.53
|
4.14
|
-0.07
|
PL
|
146.25
|
-9.94
|
-0.70
|
-
|
|
Tirupati Forge Ltd
|
26.53
|
45.21
|
4.53
|
259.52
|
3.19
|
1081.48
|
18.45
|
61.84
|
1.15
|
15.99
|
|
Uni Abex Alloy Products Ltd
|
43.27
|
25.09
|
4.13
|
-10.8
|
2.43
|
-8.99
|
700.00
|
8.69
|
62.99
|
11.11
|
|
Universal Autofoundry Ltd
|
62.15
|
18.31
|
5.03
|
18.35
|
2.05
|
50.74
|
125.55
|
69.66
|
5.33
|
23.57
|
|
Industry
|
10,713.93
|
28.97
|
1,700.56
|
-0.63
|
1,054.47
|
18.95
|
1,07,567.79
|
0.52
|
|
56.93
|
|