AIA Engineering Q1 Review - Structural Story Intact: Dolat Capital

An excavator loads iron ore onto a dump truck at the open pit mine. (Photographer Vincent Mundy/Bloomberg)

AIA Engineering Q1 Review - Structural Story Intact: Dolat Capital

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Dolat Capital Report

AIA Engineering Ltd. delivered a robust revenue growth of 27.5% YoY due to 15%/13% increase in realisations/ volumes.

Mining volumes declined 10% YoY as share of Canada business dropped to nil owing to ongoing anti-dumping investigation.

However, non-mining volumes grew 93% YoY on a lower base as AIA Engineering benefitted by demand uptick majorly from cement customers.

Despite commodity prices headwinds, the company’s Ebitda grew 39% YoY (up 20%/ 11% versus our/consensus estimate) with margin of 23.2% (up 195 basis points YoY) on the account of favorable sales mix and better pricing power derived from strong business model.

Click on the attachment to read the full report:

Dolat Capital AIA Engineering Q1FY22 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

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