External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills).</li><li>Products include tube mill internals (grinding media, shell liners, diaphragm), HRCS castings &amp; crusher parts for cement, mining and power</li><li>The company is the second largest hi-chrome producer in the world.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills).Products include tube mill internals (grinding media, shell liners, diaphragm), HRCS castings &amp; crusher parts for cement, mining and powerThe company is the second largest hi-chrome producer in the world.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AIA Engineering (AIA) - Growth in Volumes Visible…

AIA Engineering (AIAENG) - Growth in Volumes Visible…

<ul><li>AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills)</li><li>Products include tube mill internals (grinding media, shell liners, diaphragm), HRCS castings &amp; crusher parts for cement, mining and power</li><li>Target Price and Valuation: We value AIA at Rs 1895 i.e. 28x P/E on FY24E EPS</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement, mining and thermal power plants (or mills)Products include tube mill internals (grinding media, shell liners, diaphragm), HRCS castings &amp; crusher parts for cement, mining and powerTarget Price and Valuation: We value AIA at Rs 1895 i.e. 28x P/E on FY24E EPSContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AIA Engineering: Volumes Disappoint, Recovery to Be Gradual

<p>New mining customer acquisition is expected to pick up once the travel situation normalises, as expected, in H2FY22E and will allow AIA to gain incremental volume growth in coming years despite likely base volume...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

New mining customer acquisition is expected to pick up once the travel situation normalises, as expected, in H2FY22E and will allow AIA to gain incremental volume growth in coming years despite likely base volume...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

AIA Engineering: Steady Performance Amid Challenges

India

AIA Engineering Ltd. manufactures high chromium wear, corrosion, and abrasion resistant parts used by the cement, mining, and thermal power generation industries.

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Aia Engineering (AIAE IN)

AIA Engineering (AIA) - Growth in Volumes Visible…

AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement,...

ICICI Securities Limited

AIA Engineering (AIAENG) - Growth in Volumes Visible…

AIA Engineering (AIA) is India’s largest manufacturer and supplier of high chrome wear, corrosion and abrasion resistance castings used in cement,...

ICICI Securities Limited

AIA Engineering: Volumes Disappoint, Recovery to Be Gradual

New mining customer acquisition are expected to pick up as the travel situation has started to normalise in H1FY23E and will allow AIA to gain...

ICICI Securities Limited

AIA Engineering: Steady Performance Amid Challenges

New mining customer acquisition is expected to pick up once the travel situation normalises, as expected, in H2FY22E and will allow AIA to gain...

ICICI Securities Limited

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