AIA Engineering Logs Steady Operational Q3 Performance, Decent Volumes: ICICI Direct
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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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