reports
AIA Engineering Limited: 2 directors
Two Directors at AIA Engineering Limited sold 560,559 shares at 5,000.000INR. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...
AIA ENGINEERING sees a downgrade to Neutral on account of less fundame...
The independent financial analyst theScreener just lowered the general evaluation of AIA ENGINEERING (IN), active in the Industrial Machinery industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date December 31, 2021, the closing price was INR 1,872.45 and i...
- Bhoomika Nair
AIA Engineering's Q3FY20 reults (Neutral) - Volumes disappoint again;g...
Q3FY20 result highlights Adj. PAT grew 21% yoy to Rs1.56bn: on strong margins and lower tax. Revenues decline 4% yoy to Rs6.94bn: Volumes grew 1.7% yoy to 60,263 tons. Volumes were muted due to a copper mine seeing site closure and longer than anticipated time to converting new clients. Moreover, realizations fell 5.8% yoy to Rs111.3/kg led by lower ferro chrome prices (partially offset by depreciating rupee). Margins expanded 216bps yoy to 24.9%: led by improved revenue mix and currency ...
- Bhoomika Nair
AIA Engineering's Q2FY20 results (Downgrade to Neutral) - Volumes disa...
Q2FY20 result highlights Adj. PAT grew 26% yoy to Rs1.52bn: on lower tax. De-stocking by clients impacts volumes: with 1% yoy drop (-4% qoq) to 61,220 tons. Volumes were muted due to de-stocking across markets in mining (flat yoy/qoq; impact of ~4-5ktons for the quarter). Moreover, realizations fell 5% yoy to Rs110.5/kg led by lower ferro chrome prices, driving a 6% yoy decline in revenues to Rs6.96bn. Margins expanded 216bps yoy to 22%: led by improved revenue mix. Hence, EBITDA grew +4....
- Bhoomika Nair
AIA Engineering's Q1FY20 results (Outperformer) - Volume miss
Q1FY20 result highlights Adj. PAT grew +34% yoy to Rs1.4bn: on higher margins, strong other income (+91% yoy on Rs137mn forex gains) and lower tax rate. Volume muted: Revenue growth was sluggish at 2.5% yoy to Rs8.33bn led by 1% yoy decline in volumes to 63,618 tons (mining +2% yoy). Volumes were muted as its iron ore client in Brazil saw zero volumes in the quarter due to its mine shut down (typically 15k/ year). However, realizations improved 4% yoy to Rs112/kg led by improved product mix...
- Bhoomika Nair
AIA Engineering's Q4FY19 results (Outperformer) - Volumes surprise pos...
Q4FY19 result highlights Adj. PAT grew +5% yoy to Rs1.53bn: on 52% yoy drop in other income (high base, Rs19m forex loss) and higher depreciation (+62% yoy, capex). However, lower tax rate led to higher than estimated PAT. Volume uptick drives 19% yoy revenue growth: to Rs8.87bn. Volumes +20.6% to 80,033 tons (strong traction in mining +34% yoy growth) led by shift of customers to high chrome media and as also despatch of orders delayed in 3Q19. Realizations fell 0.9% yoy led by adverse reve...
- Bhoomika Nair
AIA Engineering's Q3FY19 results (Outperformer) - In line; Volume upti...
Q3FY19 result highlights Adj. PAT grew 17% yoy to Rs1.29bn: on higher revenues (+27% yoy) Volume uptick drives 27% yoy revenue growth: to Rs7.3bn. Volumes +15.3% to 59,235 tons (mining +24% yoy growth). Realizations +9.2% yoy led by depreciating rupee and improved product mix. Sharp jump in production vs sales: Production for 3Q19 and 9M19 is higher than sales by ~15k/32k (vs historical trends of 2-5k) as there have been delays in offtake by customers. The production is based on orders rece...
- Bhoomika Nair
AIA Engineering's Q2FY19 results (Outperformer) - Rupee depreciation a...
Q2FY19 result highlights Adj. PAT grew 39.9% yoy to Rs1.21bn: on higher revenues (+31.7% yoy) and forex gains (Rs257mn) in the quarter Volume uptick drives revenue growth: of 32% yoy to Rs7.41bn. Volumes +13.7% to 61,695 tons (mining +18% yoy growth). Realizations +16% yoy led by depreciating rupee and improved product mix. Margins steady at 21.1% (-10bps yoy): due to higher production than sales (10,567 tons; shipping, clearance delays etc). Hence, EBITDA grew +32% yoy to Rs1.48bn. Benefit...
- Dave Nicoski
- Ross LaDuke
Vermilion Int'l Compass: Global Equity Strategy
Our outlook remains neutral - bordering on cautious - on the MSCI ACWI ex-U.S. index (local currency) on an absolute basis with horizontal support continuing to hold for now. Our concern stems from the recent pattern of lower highs and continued underperformance relative to MSCI ACWI - remain underweight... see chart below. • Bullish developments in Japan. We have been fairly downbeat recently on Japan given the TOPIX's descending triangle pattern and underperformance relative to the MSCI ACW...
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- Bhoomika Nair
AIA Engineering's Q1FY19 results (Outperformer) - Volume momentum cont...
Q1FY19 result highlights Adj. PAT grew 18.7% yoy to Rs1.05bn: on higher revenues (+24.5% yoy) partly offset by higher tax rate at 33.4% (vs 31.3% in Q1FY18). Volume uptick drives revenue growth: of 24.5% yoy to Rs7.15bn. Volumes increased 13.2% to 64,211 tons as mining saw 15% yoy growth. Realizations +10% yoy led by pass through of higher RM costs. Margins fell 103bps 21.8%: due to high base and lag in pass through of higher ferro chrome prices. Margins are also impacted by aggressive pric...
- Bhoomika Nair
AIA Engineering's Q4FY18 results (Outperformer) - Volume uptick; Outlo...
Q4FY18 result highlights Adj. PAT grew 27% yoy to Rs1.46bn: on higher revenues (+19% yoy) and lower tax. Reported PAT at Rs1.5bn (+32% yoy; tax write back). Volume uptick drives revenue: growth of 19% yoy to Rs7.43bn. Volumes increased 14% to 66,374 tons as mining saw 27% yoy growth. Realizations +3.6% yoy led by pass through of higher RM costs. Margins hold on at 22.4% (+40bps): led by pass thru of higher ferro chrome prices. Hence, EBITDA +21% yoy to Rs1.67bn. Mining volumes drive growth...
- Bhoomika Nair
AIA Engineering's Q3FY18 results (Outperformer) - Margins stabilize; O...
Q3FY18 result highlights Adj. PAT fell 20% yoy to Rs967mn: due to lower margins (-710bps yoy to 22.2%; high base). Reported PAT at Rs1.16bn (-3.5% yoy; tax write back). Revenue fell 3% yoy to Rs5.7bn: led by 10% volume decline (high base, delays in client conversion). Realizations +7% yoy /+9% qoq led by pass through of higher commodity prices and improved product mix. Margins stabilise at 22.2%: OPM fell 710bps yoy due to sharp rise in RM costs on higher ferro chrome prices (+5-10% yoy), w...
- Bhoomika Nair
AIA Engineering's Q2FY18 results (Outperformer) - Lackluster quarter; ...
Q2FY18 result highlights PAT declined 23% yoy to Rs865mn: due to lower margins (-1000bps yoy to 20.1%) and other income (-19% yoy, lower yields, forex gain). Revenue growth muted at 5.6% yoy to Rs5.6bn: led by 5% growth in volumes (on 7% yoy growth in mining volumes). Realizations were flat yoy as higher commodity prices were not passed through as part of AIA’s entry pricing strategy to add new customers. Margins normalising – 20.1%: OPM fell 1000bps yoy due to sharp rise in RM costs on hig...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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