ICICI Securities: AIA Engineering - Strong Underlying Fundamentals
Two haul trucks pass by each other on the road leading out of the mine pit (Photographer Carla Gottgens/Bloomberg)

ICICI Securities: AIA Engineering - Strong Underlying Fundamentals

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

AIA Engineering Ltd. is one of the few domestic companies that recouped quickly with relaxation of the Covid-19 induced lockdown.

Global mining market leadership in high-chrome mill internals has been a key focus area for the company.

To tap into the price competitive iron ore market, the company is embarking on transformation as a total mill solutions provider with mill lining capability.

Factoring in the capping of export incentives under Merchandise Exports from India Scheme (MEIS) at Rs 20 million for Q3 FY21, we cut FY21E earnings marginally by 0.2%, however, expecting healthy growth recovery, we raise FY22E earnings by 8%.

Click on the attachment to read the full report:

ICICI Securities AIA Engineering Company Update.pdf


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