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ICICI Direct Report
AIA Engineering Ltd. reported consolidated revenues at Rs 860.2 crore (in line with our estimate of Rs 859.6 crore), up marginally by 0.4% YoY owing to a decline of 3.3% in volumes YoY.
Realisations grew 6% to Rs 107.1/kg YoY. Ebitda came in at Rs 169.2 crore, down 8.4% YoY (versus our estimate of Rs 190.8 crore).
Ebitda margins fell 190 basis points YoY to 19.7% (below our estimate of 22.2%) impacted by commodity prices.
Profit after tax came in at Rs 133.1 crore (below our estimate of Rs 158.6 crore), declining 6.5% YoY partly impacted by lower other income, which declined 20.4% YoY to Rs 23.2 crore.
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