AIA Engineering Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 15961.84 Crore) operating in Engineering sector.
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Promoters held 58.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 20.8 per cent, DIIs 17.8 per cent and public and others 2.9 per cent.
ICICI Securities has given a buy rating to AIA Engineering with a target price of Rs 2043. The share price moved up by 1.94 per cent from its previous close of Rs 1660.50. The stock’s last traded price is Rs 1692.50.
AIA Engineering Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 15961.84 Crore) operating in Engineering sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 719.89 Crore, up 24.04 % from last quarter Sales of Rs 580.35 Crore and up 6.44 % from last year same quarter Sales of Rs 676.35 Crore Company reported net profit after tax of Rs 143.45 Crore in latest quarter.
Investment Rationale Despite the overall challenging environment, AIAE witnessed reduction in net working capital to 39.3% of sales from 43.8% in Mar’20, leading to Rs4bn of cashflows during H1FY21. The brokergae believes volumes will normalise and cashflows will improve in FY22E; hence, it maintains BUY with an unchanged target price of Rs2,043. Promoter/FII Holdings Promoters held 58.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 20.8 per cent, DIIs 17.8 per cent and public and others 2.9 per cent.
