AIA Engineering (AIAENG) Q4 19/20 earnings summary

Executive summary

• Consolidated FY20 revenue declined to ₹2,98,087.75 lakh from ₹3,06,949.99 lakh; EBITDA and PAT after non-controlling interests rose, supported by stronger margins and other income. document-source17

• COVID-19 temporarily shut facilities; production restarted in April 2020 and reached 70% of pre-COVID capacity in June, with later operations reported at 80–90%. document-source8 document-source85

Financial highlights

• Consolidated revenue from operations was ₹2,98,087.75 lakh, down from ₹3,06,949.99 lakh; EBITDA was ₹82,219.10 lakh versus ₹78,079.29 lakh. document-source17

• Consolidated PAT after non-controlling interests was ₹59,035.80 lakh versus ₹51,083.05 lakh; EPS was ₹62.59 versus ₹54.16. document-source17 document-source160

• Standalone revenue from operations was ₹2,58,762.44 lakh versus ₹2,83,758.50 lakh; PAT was ₹83,252.97 lakh versus ₹41,482.17 lakh. document-source17

• Standalone PAT included ₹33,974.07 lakh dividend income from subsidiaries; excluding this item, reported PAT would be materially lower. document-source100 document-source126

Outlook and guidance

• Mining remains the core medium- to long-term growth focus; plans target converting forged media to high chrome and expanding mining mill-lining solutions. document-source19 document-source85

• A dedicated 50,000 TPA mill-lining plant is targeted for commissioning before March 2021; ₹60 crore was spent in FY20, with ₹190 crore planned for FY21. document-source86

• The second 50,000 MT grinding-media expansion phase was deferred amid COVID-19 uncertainty; planned capex is to be funded from internal accruals. document-source20

• Cement near-term sales are expected to remain flat; thermal-power operations aim for steady growth in line with the domestic sector. document-source20 document-source86