AIA ENGINEERING LIMITED |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,803 INR | +0.27% |
|
+0.75% | +3.07% |
| May. 15 | Nomura Adjusts AIA Engineering’s Price Target to INR3,580 From INR3,830, Keeps at Reduce | MT |
| May. 14 | Transcript : AIA Engineering Limited, Q4 2024 Earnings Call, May 14, 2024 |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 169,409 | 131,412 | 193,611 | 153,054 | 273,821 | 357,724 | - | - |
| Enterprise Value (EV) 1 | 168,525 | 130,833 | 176,073 | 137,542 | 248,186 | 369,288 | 322,284 | 314,327 |
| P/E ratio | 33.2 x | 22.3 x | 34.2 x | 24.7 x | 25.9 x | 32.5 x | 31.3 x | 28.5 x |
| Yield | 0.5% | 1.94% | 0.44% | 0.55% | 0.55% | 0.53% | 0.53% | 0.57% |
| Capitalization / Revenue | 5.52 x | 4.41 x | 6.72 x | 4.29 x | 5.58 x | 7.61 x | 6.85 x | 6.27 x |
| EV / Revenue | 5.49 x | 4.39 x | 6.11 x | 3.86 x | 5.06 x | 7.61 x | 6.17 x | 5.51 x |
| EV / EBITDA | 25.5 x | 19.2 x | 29.7 x | 20.6 x | 20 x | 27.7 x | 24.3 x | 22 x |
| EV / FCF | -2,397 x | 23.9 x | 37.1 x | -83.5 x | 36.9 x | 39.4 x | 33.8 x | 32.1 x |
| FCF Yield | -0.04% | 4.18% | 2.69% | -1.2% | 2.71% | 2.54% | 2.96% | 3.11% |
| Price to Book | 4.82 x | 3.55 x | 4.56 x | 3.22 x | 4.81 x | 5.38 x | 4.71 x | 4.19 x |
| Nbr of stocks (in thousands) | 94,320 | 94,320 | 94,320 | 94,320 | 94,320 | 94,320 | - | - |
| Reference price 2 | 1,796 | 1,393 | 2,053 | 1,623 | 2,903 | 3,793 | 3,793 | 3,793 |
| Announcement Date | 5/27/19 | 6/22/20 | 5/25/21 | 5/25/22 | 5/25/23 | 5/14/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 30,695 | 29,809 | 28,815 | 35,665 | 49,088 | 48,538 | 52,243 | 57,022 |
| EBITDA 1 | 6,599 | 6,803 | 5,925 | 6,689 | 12,406 | 13,338 | 13,284 | 14,313 |
| EBIT 1 | 5,811 | 5,824 | 4,990 | 5,767 | 11,476 | 12,335 | 12,061 | 12,904 |
| Operating Margin | 18.93% | 19.54% | 17.32% | 16.17% | 23.38% | 25.41% | 23.09% | 22.63% |
| Earnings before Tax (EBT) 1 | 6,944 | 7,187 | 7,296 | 7,813 | 13,620 | 14,880 | 14,722 | 16,112 |
| Net income 1 | 5,108 | 5,904 | 5,661 | 6,197 | 10,559 | 11,356 | 11,344 | 12,424 |
| Net margin | 16.64% | 19.8% | 19.65% | 17.37% | 21.51% | 23.4% | 21.71% | 21.79% |
| EPS 2 | 54.16 | 62.59 | 60.02 | 65.70 | 112.0 | 120.4 | 121.2 | 132.9 |
| Free Cash Flow 1 | -70.31 | 5,473 | 4,743 | -1,647 | 6,729 | 8,284 | 9,536 | 9,777 |
| FCF margin | -0.23% | 18.36% | 16.46% | -4.62% | 13.71% | 16.72% | 18.25% | 17.15% |
| FCF Conversion (EBITDA) | - | 80.46% | 80.04% | - | 54.24% | 61.43% | 71.79% | 68.31% |
| FCF Conversion (Net income) | - | 92.71% | 83.78% | - | 63.73% | 72.49% | 84.07% | 78.7% |
| Dividend per Share 2 | 9.000 | 27.00 | 9.000 | 9.000 | 16.00 | 20.19 | 20.14 | 21.71 |
| Announcement Date | 5/27/19 | 6/22/20 | 5/25/21 | 5/25/22 | 5/25/23 | 5/14/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 6,987 | 8,602 | 7,399 | 8,852 | 8,481 | 10,933 | 10,797 | 13,287 | 12,269 | 12,736 | 12,396 | 13,988 | 12,641 | 12,334 |
| EBITDA 1 | 1,723 | 1,594 | 1,623 | 1,619 | 1,612 | 2,126 | 2,322 | 3,120 | 3,657 | 3,157 | 3,430 | 3,450 | 3,287 | 3,076 |
| EBIT | - | - | - | - | - | - | 2,114 | 2,874 | - | - | - | - | 2,916 | 2,749 |
| Operating Margin | - | - | - | - | - | - | 19.58% | 21.63% | - | - | - | - | 23.07% | 22.29% |
| Earnings before Tax (EBT) 1 | - | - | 1,865 | 1,751 | 1,761 | 2,436 | 2,459 | 3,157 | 4,540 | - | 3,708 | 3,859 | 3,896 | 3,752 |
| Net income 1 | 1,591 | 1,338 | 1,493 | 1,376 | 1,382 | 1,946 | 1,905 | 2,448 | 3,525 | 2,682 | 2,723 | 2,821 | 2,752 | 2,661 |
| Net margin | 22.78% | 15.55% | 20.18% | 15.54% | 16.29% | 17.8% | 17.64% | 18.42% | 28.73% | 21.06% | 21.97% | 20.17% | 21.77% | 21.58% |
| EPS 2 | - | - | 15.83 | 14.59 | 14.65 | 20.63 | 20.19 | 25.95 | 37.37 | 28.43 | 28.87 | 30.70 | 29.95 | 27.90 |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/9/21 | 5/25/21 | 8/13/21 | 10/30/21 | 1/27/22 | 5/25/22 | 8/9/22 | 11/14/22 | 1/27/23 | 5/25/23 | 8/2/23 | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 884 | 579 | 17,539 | 15,512 | 25,635 | 31,564 | 35,440 | 43,397 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | -70.3 | 5,473 | 4,743 | -1,647 | 6,729 | 8,284 | 9,536 | 9,777 |
| ROE (net income / shareholders' equity) | 15.7% | 16.4% | 14.2% | 13.8% | 20.2% | 18.6% | 15.9% | 15.3% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 373.0 | 392.0 | 450.0 | 504.0 | 603.0 | 705.0 | 805.0 | 905.0 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 2,066 | 1,320 | 1,242 | 1,255 | 1,948 | 2,524 | 1,875 | 1,753 |
| Capex / Sales | 6.73% | 4.43% | 4.31% | 3.52% | 3.97% | 5.1% | 3.59% | 3.07% |
| Announcement Date | 5/27/19 | 6/22/20 | 5/25/21 | 5/25/22 | 5/25/23 | 5/14/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
3,793
INR
Average target price
3,960
INR
Spread / Average Target
+4.42%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +3.07% | 4.29B | |
| +13.94% | 85.98B | |
| +18.32% | 70.07B | |
| +19.80% | 37.38B | |
| +25.32% | 34.75B | |
| +10.85% | 27.97B | |
| +4.79% | 27.16B | |
| +4.77% | 26.77B | |
| +19.69% | 25.3B | |
| +15.10% | 25.19B |
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