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ICICI Securities Report
AIA Engineering Ltd. has reported better-than-expected earnings in Q2 FY21, supported 16% YoY growth in mining volumes and 350 basis points YoY improvement in Ebitda margins led by benign commodity cost.
The company is largely back to pre-Covid-19 levels in almost all geographies; however, new client engagement has taken a back seat due to travel restrictions.
We believe client acquisition will pick up once travel situation normalises.
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