BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
AIA Engineering Ltd. reported consolidated revenues at Rs 698.7 crore (below our estimate of Rs 765 crore), merely up 0.7% YoY owing to lower realisation YoY, which declined 5.3% to Rs 105.4 per kg.
Ebitda came in at Rs 172.3 crore, almost flat YoY (versus our estimate of Rs 169 crore).
Ebitda margins declined marginally by 20 bps YoY to 24.7% (above our estimate of 22.1%).
Profit after tax came in at Rs156.1 crore (above our estimate of Rs 125.5 crore), down marginally by 0.2%, YoY owing to tax adjustment in base quarter, higher other income and adjusting for reversal of exceptional item of Rs 3.7 crore towards closure of its subsidiary, Welcast Steels.
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