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AIA Engineering

NSEI:AIAENG
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AIAENG
NSEI
₹170B
Market Cap
  1. Home
  2. IN
  3. Capital Goods
Company description

AIA Engineering Limited designs, develops, manufactures, installs, and services high chromium wear, corrosion, and abrasion resistant castings in India and internationally. The last earnings update was 70 days ago. More info.


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AIAENG Share Price and Events
7 Day Returns
1.9%
NSEI:AIAENG
0.3%
IN Machinery
1.1%
IN Market
1 Year Returns
27.7%
NSEI:AIAENG
-15%
IN Machinery
-0.9%
IN Market
AIAENG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AIA Engineering (AIAENG) 1.9% 5.9% 7.4% 27.7% 82.9% 198.5%
IN Machinery 0.3% 1.3% 0.8% -15% 20.7% 121.2%
IN Market 1.1% 1.8% 5.7% -0.9% 41% 72.2%
1 Year Return vs Industry and Market
  • AIAENG outperformed the Machinery industry which returned -15% over the past year.
  • AIAENG outperformed the Market in India which returned -0.9% over the past year.
Price Volatility
AIAENG
Industry
5yr Volatility vs Market

Value

 Is AIA Engineering undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AIA Engineering to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AIA Engineering.

NSEI:AIAENG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16.6%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:AIAENG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.067 (1 + (1- 35%) (0.72%))
1.049
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.049 * 8.6%)
16.57%

Discounted Cash Flow Calculation for NSEI:AIAENG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AIA Engineering is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:AIAENG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 16.57%)
2019 148.22 Analyst x9 127.16
2020 1,944.33 Analyst x3 1,430.92
2021 3,854.29 Analyst x7 2,433.38
2022 4,464.33 Est @ 15.83% 2,417.94
2023 5,060.07 Est @ 13.34% 2,351.08
2024 5,647.35 Est @ 11.61% 2,251.01
2025 6,234.06 Est @ 10.39% 2,131.70
2026 6,828.63 Est @ 9.54% 2,003.14
2027 7,439.20 Est @ 8.94% 1,872.08
2028 8,073.31 Est @ 8.52% 1,742.90
Present value of next 10 years cash flows ₹18,761.30
NSEI:AIAENG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹8,073.31 × (1 + 7.55%) ÷ (16.57% – 7.55%)
₹96,287.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹96,287.61 ÷ (1 + 16.57%)10
₹20,786.99
NSEI:AIAENG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹18,761.30 + ₹20,786.99
₹39,548.28
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹39,548.28 / 94.32
₹419.3
NSEI:AIAENG Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹419.30
Current discount Discount to share price of ₹1,807.55
= -1 x (₹1,807.55 - ₹419.30) / ₹419.30
-331.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of AIA Engineering is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AIA Engineering's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AIA Engineering's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:AIAENG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹53.77
NSEI:AIAENG Share Price ** NSEI (2019-04-18) in INR ₹1807.55
India Machinery Industry PE Ratio Median Figure of 139 Publicly-Listed Machinery Companies 18.65x
India Market PE Ratio Median Figure of 2,736 Publicly-Listed Companies 16.34x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AIA Engineering.

NSEI:AIAENG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:AIAENG Share Price ÷ EPS (both in INR)

= 1807.55 ÷ 53.77

33.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AIA Engineering is overvalued based on earnings compared to the IN Machinery industry average.
  • AIA Engineering is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does AIA Engineering's expected growth come at a high price?
Raw Data
NSEI:AIAENG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
18.2%per year
India Machinery Industry PEG Ratio Median Figure of 27 Publicly-Listed Machinery Companies 1.72x
India Market PEG Ratio Median Figure of 584 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

NSEI:AIAENG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.61x ÷ 18.2%

1.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AIA Engineering is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AIA Engineering's assets?
Raw Data
NSEI:AIAENG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹344.99
NSEI:AIAENG Share Price * NSEI (2019-04-18) in INR ₹1807.55
India Machinery Industry PB Ratio Median Figure of 167 Publicly-Listed Machinery Companies 1.63x
India Market PB Ratio Median Figure of 3,627 Publicly-Listed Companies 1.11x
NSEI:AIAENG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:AIAENG Share Price ÷ Book Value per Share (both in INR)

= 1807.55 ÷ 344.99

5.24x

* Primary Listing of AIA Engineering.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AIA Engineering is overvalued based on assets compared to the IN Machinery industry average.
X
Value checks
We assess AIA Engineering's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. AIA Engineering has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is AIA Engineering expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AIA Engineering expected to grow at an attractive rate?
  • AIA Engineering's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • AIA Engineering's earnings growth is positive but not above the India market average.
  • AIA Engineering's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:AIAENG Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:AIAENG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 18.2%
NSEI:AIAENG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 16.8%
India Machinery Industry Earnings Growth Rate Market Cap Weighted Average 13.9%
India Machinery Industry Revenue Growth Rate Market Cap Weighted Average 12.5%
India Market Earnings Growth Rate Market Cap Weighted Average 18.6%
India Market Revenue Growth Rate Market Cap Weighted Average 11.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:AIAENG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:AIAENG Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 41,725 5,599 7,040 9
2020-03-31 36,170 4,358 6,008 11
2019-03-31 30,128 2,962 4,904 11
NSEI:AIAENG Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 29,261 5,072
2018-09-30 27,719 4,944
2018-06-30 25,904 4,599
2018-03-31 24,451 2,942 4,434
2017-12-31 23,489 4,063
2017-09-30 23,668 4,104
2017-06-30 23,371 4,363
2017-03-31 22,460 2,306 4,568
2016-12-31 21,904 4,550
2016-09-30 20,934 4,361
2016-06-30 20,737 4,230
2016-03-31 20,984 5,950 4,569

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AIA Engineering's earnings are expected to grow by 18.2% yearly, however this is not considered high growth (20% yearly).
  • AIA Engineering's revenue is expected to grow by 16.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:AIAENG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from AIA Engineering Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:AIAENG Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 75.57 84.00 68.60 10.00
2020-03-31 63.34 74.30 58.75 14.00
2019-03-31 51.72 55.50 49.80 14.00
NSEI:AIAENG Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 53.77
2018-09-30 52.43
2018-06-30 48.76
2018-03-31 47.00
2017-12-31 43.08
2017-09-30 43.51
2017-06-30 46.25
2017-03-31 48.43
2016-12-31 48.23
2016-09-30 46.25
2016-06-30 44.85
2016-03-31 48.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • AIA Engineering is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess AIA Engineering's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AIA Engineering has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has AIA Engineering performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AIA Engineering's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AIA Engineering's year on year earnings growth rate has been positive over the past 5 years.
  • AIA Engineering's 1-year earnings growth exceeds its 5-year average (24.8% vs 6.2%)
  • AIA Engineering's earnings growth has not exceeded the IN Machinery industry average in the past year (24.8% vs 34.9%).
Earnings and Revenue History
AIA Engineering's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AIA Engineering Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:AIAENG Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 29,261.32 5,072.26 1,269.49
2018-09-30 27,718.59 4,944.23 1,235.25
2018-06-30 25,903.92 4,599.10 1,166.06
2018-03-31 24,451.35 4,433.52 1,175.90
2017-12-31 23,488.93 4,062.72 1,144.55
2017-09-30 23,667.90 4,104.34 1,127.51
2017-06-30 23,371.00 4,362.88 1,084.19
2017-03-31 22,460.14 4,567.69 1,102.71
2016-12-31 21,903.67 4,549.61 1,072.46
2016-09-30 20,933.78 4,361.48 1,066.62
2016-06-30 20,737.22 4,230.02 1,023.87
2016-03-31 20,983.91 4,568.73 1,049.66
2015-12-31 21,112.38 4,023.42 2,963.92
2015-09-30 21,324.77 4,240.35 2,938.96
2015-06-30 22,186.48 4,386.21 2,921.92
2015-03-31 21,836.37 4,309.39 1,013.43
2014-12-31 21,495.01 4,378.47 2,442.36
2014-09-30 21,639.52 3,890.35 2,491.07
2014-06-30 20,843.11 3,545.78 2,489.44
2014-03-31 20,800.78 3,249.70 2,469.27
2013-12-31 19,502.40 2,691.24 2,536.75
2013-09-30 18,445.21 2,559.92 2,449.58
2013-06-30 17,963.49 2,225.18 2,418.39
2013-03-31 17,513.11 2,108.20 2,385.30
2012-12-31 17,248.17 1,995.07 1,853.28
2012-09-30 16,630.50 1,966.76 1,809.35
2012-06-30 15,771.73 1,951.49 1,779.41

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AIA Engineering has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AIA Engineering used its assets more efficiently than the IN Machinery industry average last year based on Return on Assets.
  • AIA Engineering's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AIA Engineering's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AIA Engineering has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is AIA Engineering's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AIA Engineering's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AIA Engineering is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AIA Engineering's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AIA Engineering's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 24.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AIA Engineering Company Filings, last reported 3 months ago.

NSEI:AIAENG Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 32,633.89 1,234.95 13,343.83
2018-09-30 32,633.89 1,234.95 13,343.83
2018-06-30 30,182.20 1,997.54 14,022.20
2018-03-31 30,182.20 1,232.99 12,803.72
2017-12-31 28,505.50 1,456.23 12,561.76
2017-09-30 28,505.50 1,456.23 12,561.76
2017-06-30 27,252.73 1,157.92 12,064.17
2017-03-31 27,252.73 1,402.01 12,062.59
2016-12-31 25,424.72 303.81 11,710.15
2016-09-30 25,424.72 303.81 11,710.15
2016-06-30 22,899.83 1,505.51 10,149.87
2016-03-31 23,302.51 1,837.76 10,703.14
2015-12-31 22,797.33 434.48 10,508.09
2015-09-30 22,797.33 434.48 10,508.09
2015-06-30 20,913.40 986.30 8,237.50
2015-03-31 20,913.40 986.30 8,237.50
2014-12-31 19,526.78 773.92 8,269.74
2014-09-30 19,526.78 773.92 8,269.74
2014-06-30 17,466.50 1,206.16 7,488.57
2014-03-31 17,466.50 1,206.16 7,488.57
2013-12-31 16,081.43 1,369.71 6,600.92
2013-09-30 16,081.43 1,369.71 6,600.92
2013-06-30 14,258.86 1,609.20 4,658.39
2013-03-31 14,258.86 1,609.20 4,658.39
2012-12-31 13,473.17 498.88 3,091.13
2012-09-30 13,473.17 498.88 3,091.13
2012-06-30 12,398.92 479.34 2,899.00
  • AIA Engineering's level of debt (3.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (8.5% vs 3.8% today).
  • Debt is well covered by operating cash flow (238.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 571.5x coverage).
X
Financial health checks
We assess AIA Engineering's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AIA Engineering has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is AIA Engineering's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.44%
Current annual income from AIA Engineering dividends. Estimated to be 0.69% next year.
If you bought ₹2,000 of AIA Engineering shares you are expected to receive ₹9 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AIA Engineering's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • AIA Engineering's dividend is below the markets top 25% of dividend payers in India (1.94%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:AIAENG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
India Machinery Industry Average Dividend Yield Market Cap Weighted Average of 98 Stocks 1.2%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:AIAENG Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 13.33 7.00
2020-03-31 11.74 7.00
2019-03-31 9.89 7.00
NSEI:AIAENG Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-08-10 8.000 0.474
2018-05-16 8.000 0.505
2018-02-06 8.000 0.559
2017-11-14 8.000 0.523
2017-08-17 8.000 0.587
2017-05-25 8.000 0.568
2017-02-13 8.000 0.535
2016-03-10 8.000 0.712
2015-05-19 8.000 0.872
2014-09-29 6.000 0.551
2013-05-30 4.000 0.844
2012-08-23 3.000 0.909
2011-07-18 3.000 0.927
2011-05-30 3.000 0.808
2010-05-31 2.500 0.658
2010-02-08 1.700 0.451
2009-06-25 1.800 0.628
2009-06-01 1.800 0.766
2009-04-20 1.200 0.650

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AIA Engineering's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as AIA Engineering has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.6x coverage).
X
Income/ dividend checks
We assess AIA Engineering's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AIA Engineering afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AIA Engineering has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of AIA Engineering's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bhadresh Shah
COMPENSATION ₹11,068,000
AGE 67
CEO Bio

Mr. Bhadresh K. Shah Founded AIA Engineering Ltd. and serves as its Managing Director. Mr. Shah's experience spans over two and a half decades and across continents. He served as Managing Director of Ahmedabad Induction Alloys Ltd. He has been Executive Director of AIA Engineering Ltd. since October 1, 2006. He serves as a Non-Executive & Independent Director of Paramount Centrispun Castings Pvt. Ltd. He has been Non ­ Executive & Non-Independent Director Welcast Steels Ltd. since September 10, 2014. He served as Director of Reclamation Welding Ltd. He contributed immensely towards the improvement of manufacturing processes, new product developments and raising quality standards to international levels by forging several foreign collaborations. He has been Additional Independent Director of Cadila Healthcare Limited since December 6, 2018. He has been the guiding light as company carved a niche for itself in the domestic as well as international arena. Mr. Shah is a metallurgical engineer from IIT Kanpur.

CEO Compensation
  • Bhadresh's compensation has been consistent with company performance over the past year.
  • Bhadresh's remuneration is lower than average for companies of similar size in India.
Management Team

Bhadresh Shah

TITLE
MD & Executive Director
COMPENSATION
₹11M
AGE
67

Bhupesh Porwal

TITLE
Chief Financial Officer
AGE
51
TENURE
1.4 yrs

S. Jetheliya

TITLE
Compliance Officer & Company Secretary

Yashwant Patel

TITLE
Whole-Time Director
COMPENSATION
₹2M
AGE
75

Kunal Shah

TITLE
Executive Director of Corporate Affairs
TENURE
1.4 yrs

Pradip Shah

TITLE
Executive Officer
AGE
68

R. Gilani

TITLE
Executive Officer
COMPENSATION
₹3M

Paryank Shah

TITLE
Executive Officer
Board of Directors Tenure

Average tenure and age of the AIA Engineering board of directors in years:

6.8
Average Tenure
66.5
Average Age
  • The tenure for the AIA Engineering board of directors is about average.
Board of Directors

Rajendra Shah

TITLE
Independent Non-Executive Chairman
COMPENSATION
₹115K
AGE
70
TENURE
11.8 yrs

Bhadresh Shah

TITLE
MD & Executive Director
COMPENSATION
₹11M
AGE
67
TENURE
28.1 yrs

Yashwant Patel

TITLE
Whole-Time Director
COMPENSATION
₹2M
AGE
75
TENURE
8.4 yrs

Sanjay Majmudar

TITLE
Independent Director
COMPENSATION
₹2M
AGE
55
TENURE
11.9 yrs

S. SriKumar

TITLE
Non-Independent Non Executive Director
AGE
59
TENURE
10.3 yrs

Dileep Choksi

TITLE
Independent Director
COMPENSATION
₹30K
AGE
69
TENURE
5.3 yrs

Rajan Harivallabhdas

TITLE
Independent Director
COMPENSATION
₹90K
AGE
70
TENURE
3.9 yrs

Khushali Solanki

TITLE
Non-Executive Non-Independent Director
COMPENSATION
₹60K
AGE
41
TENURE
4.4 yrs

Bhumika Shodhan

TITLE
Non-Executive Non-Independent Director
COMPENSATION
₹75K
AGE
38
TENURE
4.4 yrs

Janaki Shah

TITLE
Additional Non-Executive Independent Director
AGE
66
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • AIA Engineering insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
01. Apr 19 Sell Balkrishna Shah Individual 28. Mar 19 28. Mar 19 -200 ₹1,825.00 ₹-365,000
11. Mar 19 Sell Balkrishna Shah Individual 22. Feb 19 06. Mar 19 -600 ₹1,830.00 ₹-1,056,610
01. Oct 18 Sell S. Jetheliya Individual 28. Sep 18 28. Sep 18 -79 ₹1,788.72 ₹-141,309
24. Sep 18 Sell Balkrishna Shah Individual 19. Sep 18 19. Sep 18 -100 ₹1,820.00 ₹-182,000
24. Sep 18 Sell S. Jetheliya Individual 21. Sep 18 21. Sep 18 -21 ₹1,802.86 ₹-37,860
17. Sep 18 Sell S. Jetheliya Individual 14. Sep 18 14. Sep 18 -200 ₹1,778.47 ₹-355,695
10. Sep 18 Sell S. Jetheliya Individual 06. Sep 18 06. Sep 18 -100 ₹1,770.56 ₹-177,056
17. Aug 18 Sell Balkrishna Shah Individual 14. Aug 18 16. Aug 18 -1,512 ₹1,850.00 ₹-2,736,514
17. Aug 18 Sell S. Jetheliya Individual 14. Aug 18 16. Aug 18 -300 ₹1,803.33 ₹-541,000
13. Jul 18 Sell Balkrishna Shah Individual 11. Jul 18 11. Jul 18 -900 ₹1,668.89 ₹-1,502,000
11. Jul 18 Sell Balkrishna Shah Individual 04. Jul 18 10. Jul 18 -808 ₹1,600.00 ₹-1,277,998
X
Management checks
We assess AIA Engineering's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AIA Engineering has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Need To Know: AIA Engineering Limited (NSE:AIAENG) Insiders Have Been Selling Shares

We often see insiders buying up shares in companies that perform well over the long term. … So before you buy or sell AIA Engineering Limited (NSE:AIAENG), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

AIA Engineering Limited (NSE:AIAENG) Delivered A Better ROE Than Its Industry

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every ₹1 worth of shareholders' equity, it generated ₹0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is AIA Engineering Limited (NSE:AIAENG) A Cash Cow?

AIA Engineering Limited (NSE:AIAENG) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … Free cash flow (FCF) is the amount of cash AIA Engineering has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations. … There are two methods I will use to evaluate the quality of AIA Engineering’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability

Simply Wall St -

Don't Sell AIA Engineering Limited (NSE:AIAENG) Before You Read This

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at AIA Engineering Limited's (NSE:AIAENG) P/E ratio and reflect on what it tells us about the company's share price. … How Do I Calculate AIA Engineering's Price To Earnings Ratio

Simply Wall St -

What Should Investors Know About AIA Engineering Limited's (NSE:AIAENG) Capital Returns?

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in AIA Engineering, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Is AIA Engineering Limited's (NSE:AIAENG) Future Growth Already Accounted For In Today's Price?

AIA Engineering Limited (NSE:AIAENG) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of ₹1708.65 is based on unrealistic expectations. … Let’s look into this by assessing AIAENG's expected growth over the next few years. … AIA Engineering is poised for significantly high earnings growth in the near future

Simply Wall St -

How Does AIA Engineering Limited's (NSE:AIAENG) Earnings Growth Stack Up Against The Industry?

For long-term investors, assessing earnings trend over time and against industry benchmarks is more beneficial than examining a single earnings announcement at a point in time. … Did AIAENG's recent earnings growth beat the long-term trend and the industry. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 8.7%, indicating the rate at which AIAENG is growing has slowed down

Simply Wall St -

Will AIA Engineering Limited's (NSE:AIAENG) Earnings Grow Over The Next Year?

In March 2018, AIA Engineering Limited (NSE:AIAENG) released its earnings update. … in-line with its track record, as upcoming earnings growth is expected to be 15.65% next year, similar to the range of average earnings growth for the past five years of 14.55% per year … Below is a brief commentary on the longer term outlook the market has for AIA Engineering.

Simply Wall St -

Is AIA Engineering Limited (NSE:AIAENG) Attractive At Its Current PE Ratio?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … While AIAENG might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … View our latest analysis for AIA Engineering

Simply Wall St -

What Are Analysts Saying About AIA Engineering Limited's (NSE:AIAENG) Future Margins?

AIA Engineering Limited (NSE:AIAENG) to … earnings growth of 15.69% annualised … it's important to take a step back

Simply Wall St -

Company Info

Description

AIA Engineering Limited designs, develops, manufactures, installs, and services high chromium wear, corrosion, and abrasion resistant castings in India and internationally. The company offers grinding media; shell liners; and diaphragms, such as partition walls, discharge diaphragms, drying chamber diaphragms, and dopple rotator diaphragms for tube mill applications; and grinding tables and rolls for vertical mill applications. It also provides castings for pre heaters, kilns, and coolers; and wear parts for cone crushers, hammer crushers, impellor crushers, and vertical shaft impact crushers. In addition, the company offers tube mill and rod mill internal products, including grinding media, inlet/outlet head liners, shell liners, and diaphragms; and wear components for mining applications. Further, it provides tube mill internals, vertical mill parts, and high performance milling systems; and installation and commissioning supervision, and mill optimization technical services for the power industry, as well as wear components for the aggregates industry. Additionally, the company offers mill audit, turnkey installation and commissioning, stock assessment and management, and performance monitoring services. Its products are used in cement, mining, and thermal power generation industries. AIA Engineering Limited was founded in 1979 and is based in Ahmedabad, India.

Details
Name: AIA Engineering Limited
AIAENG
Exchange: NSEI
Founded: 1979
₹170,488,784,793
94,320,370
Website: http://www.aiaengineering.com
Address: AIA Engineering Limited
11/12, Sigma Corporates,
B/h. HOF Showroom,
Ahmedabad,
Gujarat, 380058,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI AIAENG Equity Shares National Stock Exchange of India IN INR 14. Dec 2005
BSE 532683 Equity Shares Mumbai Stock Exchange IN INR 14. Dec 2005
Number of employees
Current staff
Staff numbers
1,088
AIA Engineering employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 12:49
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/02/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.