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AIA Engineering

AIAENG NSE
₹3,219.80 −169.90 (−5.01%)
P/E
23.73
View as Markdown
MCP
Close 4 Nov 2026 ₹3,219.80 −98.80 −2.98% 1Y
Start ₹3,318.60

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
21.10%
Debt to Equity
0.00
EPS (TTM)
₹135.69
Book Value
₹903.64
Market Cap
—
P/E (TTM)
23.73
P/B
3.56
ROE
17.00%
Dividend Yield
0.47%
EBITDA
₹1,730 Cr
52W High
₹5,180.00
52W Low
₹3,210.00
Day Range
₹3,210.00 – ₹3,389.70
Volume
4,33,065

Peer Comparison

Industrials › Industrial Products › Castings & Forgings

AIA Engineering peer comparison
PTC Industries
₹24,410.00291.36₹38,271 Cr11.700.00%7.16%8.59%₹697 Cr₹125 Cr
AIA Engineering (this company)
₹3,219.8023.73₹30,370 Cr3.560.47%17.00%21.10%₹4,549 Cr₹1,264 Cr
Happy Forgings
₹1,849.7053.29₹16,973 Cr8.200.23%15.00%18.00%₹1,642 Cr₹327 Cr
Balu Forge Industries
₹504.0522.16₹6,053 Cr3.840.03%19.60%22.70%₹1,175 Cr₹268 Cr
Steelcast
₹364.5040.73₹3,696 Cr9.340.12%24.00%32.30%₹441 Cr₹91 Cr
Amic Forging
₹2,055.2531.77₹2,342 Cr8.950.00%18.10%25.20%₹104 Cr₹26 Cr
Median 6 companies₹1,952.4836.25₹11,513 Cr8.580.08%17.55%21.90%₹936 Cr₹197 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

53 Average

Data confidence 100/100

insider_selling

Category scores

Quality
63
Good
Returns, margins, earnings quality 22% weight
Valuation
80
Strong
Cheap vs sector & own history 24% weight
Growth
20
Poor
Sales & profit trajectory 9% weight
Financial Health
82
Strong
Solvency, leverage, coverage 9% weight
Momentum
12
Poor
Trend strength, vol-adjusted 12% weight
Ownership
46
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company is almost debt free.

Weaknesses

4
  • The company has delivered a poor sales growth of 8.93% over past five years.
  • Earnings include an other income of Rs.487 Cr.
  • Dividend payout has been low at 13.0% of profits over last 3 years
  • Debtor days have increased from 77.7 to 96.5 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1234
OscillatorsBullish234
Moving AveragesStrong Bearish1000

Key readings

RSI (14)
19.39
Bullish
MACD (12,26,9)
−135.49
Bearish
SMA (50)
3,889.00
Bearish
SMA (200)
4,096.86
Bearish

As of

Analyst Rating

Based on 12 analysts
BUY50%

6 of 12 analysts rate Buy, 3 Hold, 3 Sell.

As of

BUY
6
50%
HOLD
3
25%
SELL
3
25%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+7.74%
5Y+8.94%
3Y−3.44%
1Y+3.10%
TTM+5.64%

Net profit

Net profit growth by window
10Y+10.75%
5Y+17.52%
3Y+6.32%
1Y+19.72%
TTM+14.39%

Operating cash flow

Operating cash flow growth by window
10Y−0.05%
5Y−0.20%
3Y−11.98%
1Y−49.05%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y−0.70 pp
5Y+5.59 pp
3Y+3.17 pp
1Y+1.61 pp
TTM+0.55 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹2,246 Cr
Mar 2018₹2,445 Cr
Mar 2019₹3,070 Cr
Mar 2020₹2,970 Cr
Mar 2021₹2,881 Cr
Mar 2022₹3,567 Cr
Mar 2023₹4,909 Cr
Mar 2024₹4,854 Cr
Mar 2025₹4,287 Cr
Mar 2026₹4,420 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹457 Cr
Mar 2018₹444 Cr
Mar 2019₹511 Cr
Mar 2020₹590 Cr
Mar 2021₹566 Cr
Mar 2022₹620 Cr
Mar 2023₹1,056 Cr
Mar 2024₹1,137 Cr
Mar 2025₹1,060 Cr
Mar 2026₹1,269 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹329 Cr −3.8% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk medium

AIA Engineering Ltd trades at ₹3,219.8 as of 2026-11-04 with a market cap of ₹30,370 Cr and a PE of 23.73x. The company is virtually debt-free with a debt-to-equity ratio of 0, and maintains a healthy ROE of 15.79% and ROCE of 19.94%, though the stock sits near its 52-week low of ₹3,210, well off its 52-week high of ₹5,180.

Bull Case 7
  • The company is essentially debt-free with a debt-to-equity ratio of 0, providing significant financial flexibility and resilience during economic downturns.
  • ROCE stands at 19.94% as of 2026-11-04, indicating efficient capital deployment and strong underlying business economics.
  • Compounded profit growth over 5 years is 19%, comfortably outpacing the 5-year sales CAGR of 9%, reflecting improving margins and operating leverage.
  • 10-year ROE has averaged 16% and the 5-year average is 17%, demonstrating consistent and durable return generation for shareholders.
  • TTM profit growth of 15% is healthy and shows an acceleration compared to the 3-year compounded profit growth of 7%.
  • The 10-year compounded profit growth of 12% indicates a long track record of earnings expansion across business cycles.
  • Trading at ₹3,219.8, the stock is approximately 38% below its 52-week high of ₹5,180, which may reflect a more accessible valuation entry zone relative to recent history.
Bear Case 8
  • 3-year compounded sales growth is negative at -3%, signalling a meaningful revenue contraction over the medium term.
  • Other income of ₹487 Cr forms a substantial part of earnings, raising questions about the quality and sustainability of reported profits.
  • Debtor days have increased from 77.7 to 96.5 days, suggesting deteriorating working capital efficiency and potential collection challenges.
  • Dividend payout has been only 13.0% of profits over the last 3 years, with a current yield of just 0.47%, offering minimal income return to shareholders.
  • 5-year sales growth of roughly 9% is modest for a company trading at a PE of 23.73x, implying the valuation may be pricing in faster top-line expansion than has been delivered.
  • The stock's 3-year price CAGR is only 2%, significantly lagging the 5-year CAGR of 14% and the 10-year CAGR of 11%, indicating a prolonged period of stagnant returns.
  • A price-to-book ratio of 3.56x is elevated for an industrial products company, especially alongside single-digit recent sales growth.
  • TTM sales growth of 6% remains below the 10-year compounded sales growth of 8%, suggesting the top-line recovery is still below its long-term trend.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

12h ago

TL;DR: Only one recent development for AIA Engineering — a minor rescheduling of the Q2FY27 earnings call with no material implications. No headwinds or positive catalysts surfaced in this period. Investors should watch the upcoming earnings release for directional cues on revenue, margins, and order flow.

Neutral 1
  • Q2FY27 earnings call rescheduled Nov 3

    AIA Engineering postponed its Q2FY27 earnings conference call from 4:30 pm to 5:30 pm on November 3, 2026, citing unavoidable circumstances. Dial-in details remain unchanged.

Quarterly Results

₹ Cr
AIAENG quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,240
1,295
1,169
1,150
1,020
1,044
1,066
1,157
1,039
1,048
1,067
1,266
1,168
Expenses
897
913
858
853
731
769
783
855
733
751
777
904
860
Operating Profit
343
382
311
297
289
276
283
302
306
297
290
363
308
OPM %
28%
30%
27%
26%
28%
26%
27%
26%
29%
28%
27%
29%
26%
Other Income
60
62
83.1
76.46
82.01
90.1
72
98
114
98.34
132
140
117
Interest
8
7
7
6
6
5
1
8
7
8
16
5
0
Depreciation
24
25
27
25
25
24
26
28
28
28
28
29
29
PBT
371
412
360
344
339
337
327
363
386
360
378
468
395
Tax %
26%
21%
22%
24%
24%
24%
21%
21%
21%
23%
22%
16%
24%
Net Profit
273
324
280
260
259
256
259
285
305
277
293
393
301
EPS (₹)
28.87
34.25
29.64
27.62
27.52
27.51
27.78
30.56
32.69
29.73
31.55
42.14
32.27

Profit & Loss

₹ Cr
AIAENG profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,182
2,097
2,246
2,445
3,070
2,970
2,881
3,567
4,909
4,854
4,287
4,420
4,549
Expenses
1,593
1,484
1,607
1,906
2,406
2,285
2,220
2,841
3,663
3,513
3,134
3,158
3,291
Operating Profit
589
613
639
540
664
685
661
726
1,245
1,340
1,154
1,261
1,258
OPM %
27%
29%
28%
22%
22%
23%
23%
20%
25%
28%
27%
29%
28%
Other Income
83
101
104
122
121
142
170
156
235
281
343
485
487
Interest
8
8
8
11
11
10
8
8
25
33
26
42
30
Depreciation
70
66
72
66
79
98
94
92
93
100
103
113
114
PBT
594
641
662
585
694
719
730
781
1,362
1,488
1,368
1,592
1,601
Tax %
27%
29%
31%
24%
26%
18%
22%
21%
22%
24%
23%
20%
—
Net Profit
431
457
457
444
511
590
566
620
1,056
1,137
1,060
1,269
1,265
EPS (₹)
45.69
48.44
48.43
47
54.16
62.59
60.02
65.7
112
120
114
136
136
Div. Payout %
18%
37%
17%
17%
17%
43%
15%
14%
14%
13%
14%
12%
—

Balance Sheet

₹ Cr
AIAENG balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
19
19
19
19
19
19
19
19
19
19
19
19
Reserves
2,065
2,304
2,698
2,990
3,495
3,682
4,225
4,736
5,672
6,639
6,908
8,007
Borrowings
99
184
140
123
128
127
193
10
503
461
491
10
Other Liabilities
367
278
333
426
391
334
321
361
437
375
416
497
Total Liabilities
2,549
2,785
3,190
3,559
4,033
4,162
4,758
5,125
6,630
7,494
7,833
8,532
Fixed Assets
551
672
670
671
845
890
811
790
1,003
1,110
1,175
1,233
CWIP
46
38
43
97
60
32
161
210
107
92
77
16
Investments
637
946
960
1,092
1,145
1,418
809
1,055
2,254
3,043
3,919
4,302
Other Assets
1,314
1,128
1,518
1,699
1,984
1,821
2,977
3,070
3,266
3,249
2,663
2,981
Total Assets
2,549
2,785
3,190
3,559
4,033
4,162
4,758
5,125
6,630
7,494
7,833
8,532

Cash Flow

₹ Cr
AIAENG cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
307
595
231
294
190
679
598
−40
868
903
1,162
592
Investing
−257
−449
−16
−196
−162
−310
−351
101
−1,212
−819
−203
−114
Financing
−83
−208
−91
−158
0
−429
67
−267
395
−211
−743
−660
Net Cash Flow
−33
−63
124
−60
27
−60
314
−205
51
−127
217
−182
Free Cash Flow
125
418
151
157
−9
548
475
−165
675
693
1,027
491
CFO/EBITDA
85
125
61
84
56
121
118
17
94
92
123
69

Ratios

AIAENG financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
66
75
80
90
84
80
81
82
64
66
70
97
Inventory Days
220
199
263
209
234
242
241
304
215
212
214
270
Days Payable
57
50
68
60
52
42
53
49
46
31
41
47
Cash Conversion Cycle
229
223
275
239
266
279
269
337
233
247
243
320
Working Capital Days
119
107
133
132
154
149
136
191
102
129
118
193
ROCE %
29%
25%
25%
20%
20%
19%
17%
17%
25%
23%
19%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view AIA Engineering insights

64 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 58.50%
  • DIIs 22.50%
  • FIIs 16.45%
  • Public 1.98%
  • Others 0.56%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about AIA Engineering

What does AIA Engineering Ltd do?
AIA manufactures high-chrome grinding media, liners and diaphragms, collectively known as mill internals. These are used for crushing and grinding operations in the cement, power utility & aggregates and mining industries.
Where is AIA Engineering Ltd (AIAENG) listed?
AIA Engineering Ltd trades as AIAENG on the NSE and under code 532683 on the BSE.
Which sector does AIA Engineering Ltd belong to?
AIA Engineering Ltd is classified under the Industrial Products sector, in the Castings & Forgings industry.
What is the PE ratio of AIA Engineering Ltd?
AIA Engineering Ltd trades at a PE ratio of 23.73 as of 4 Nov 2026, on earnings per share of ₹135.69, against a book value of ₹903.64 per share.
What is the 52-week high and low of AIA Engineering Ltd?
Over the last 52 weeks AIA Engineering Ltd has traded between ₹3,210 and ₹5,180 as of 4 Nov 2026.
Does AIA Engineering Ltd pay dividends?
AIA Engineering Ltd has a dividend yield of 0.47%.
What is the Return on Equity (ROE) of AIA Engineering Ltd?
AIA Engineering Ltd reported a return on equity of 17.00%. Its debt-to-equity ratio is 0.00.

Company Information

AIA manufactures high-chrome grinding media, liners and diaphragms, collectively known as mill internals. These are used for crushing and grinding operations in the cement, power utility & aggregates and mining industries.

Website aiaengineering.com
CEO Mr. Bhadresh Kantilal Shah
Employees 1,306
Listed 14 Dec 2005
Face Value ₹2

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