AIA Engineering Q4 Review - Canadian Issue To Impact Near-Term Growth: ICICI Securities
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.
AIA Engineering Ltd. has reported stable volumes in Q4 FY21 despite demand headwinds, supported by healthy growth from the cement segment.
Increase in raw material prices has impacted gross margins and the company is taking price increases which will reflect with a lag in its financials.
New client engagement continues to be low due to travel restrictions.
The imposition of import duty in Canada will impact near-term growth till the outcome of the final adjudication by August 2021.
Factoring in near-term growth headwinds, we cut FY22E/FY23E earnings by 16%/6%, respectively.
Click on the attachment to read the full report:
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.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.