AIA Engineering Ltd.

NSE: AIAENG · Castings & Forgings

52W Range₹3,001 ₹5,180

Snapshot

Unlock AIA Engineering Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

AIA Engineering Limited specialises in the design, development, and manufacture of high-chromium wear, corrosion, and abrasion-resistant castings. The company serves the cement, mining, and thermal power generation industries with a comprehensive portfolio of grinding media and mill internals.

Business Model

The company generates revenue through the sale of high-performance castings and milling systems, complemented by value-added services such as installation, commissioning, mill audits, and performance monitoring. Its business model focuses on providing long-term wear solutions that improve operational efficiency for industrial clients.

  • Founded:1979

Growth Outlook

Growth is driven by the increasing demand for high-performance grinding solutions in the global mining and cement sectors. The company continues to focus on mill optimisation and turnkey technical services to deepen client relationships and market penetration.

Key Risks

  • Commodity Price Volatility. Fluctuations in the prices of raw materials like steel and ferro-alloys can significantly impact manufacturing margins.
  • Cyclical Industry Exposure. The company's performance is heavily dependent on the capital expenditure cycles of the global mining and cement industries.
  • Geopolitical and Trade Risks. As an exporter, the company is susceptible to changes in international trade policies, tariffs, and global economic slowdowns.
  • Foreign Exchange Risk. Significant international operations expose the company to currency fluctuations that may affect profitability.

Price

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Key Metrics

REVENUE

₹4,420 Cr

TTM · consolidated

+3.1%YoY

NET PROFIT

₹1,269 Cr

TTM · consolidated

+19.7%YoY

EPS

₹136.11

TTM · consolidated

+20.3%YoY

RETURN ON EQUITY

17.6%

TTM · consolidated

+1.8 ppYoY

RETURN ON CAPITAL EMPLOYED

22.0%

TTM · consolidated

+1.8 ppYoY

P/E

35.1x

Q4 FY26 · consolidated

35.1 vs 52.2x5Y avg

EV/EBITDA

25.7x

Q4 FY26 · consolidated

25.7 vs 35.9x5Y avg

EBITDA MARGIN

39.1%

TTM · consolidated

+4.6 ppYoY

NET PROFIT MARGIN

31.1%

Q4 FY26 · consolidated

+6.4 ppYoY

DEBT TO EQUITY

0.0x

Q4 FY26 · consolidated

-0.07xYoY

Peers · Castings & Forgings

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
AIA Engineering Ltd.AIAENG
31,61735.1125.653.1%39.1%17.6%22.0%+41.2%
Happy Forgings LimitedHAPPYFORGE
11,41150.2930.899.8%32.4%15.7%21.0%+71.2%
Balu Forge Industries LimitedBALUFORGE
5,18218.7415.6019.9%30.0%21.8%26.6%-34.8%
SteelcastSTEELCAS
2,20618.4523.6512.5%30.6%25.3%32.9%-74.9%
NelcastNELCAST
1,03823.8010.676.1%9.4%8.6%14.4%-7.5%
Synergy GreenSGIL
767199.9023.901.1%13.5%4.3%14.7%+10.4%

As of Q4 FY26

Financials