AIA Engineering (AIAENG) Q4 21/22 earnings summary

Executive summary

• FY22 consolidated revenue from operations was ₹356,654.73 lakh; EBITDA ₹87,723.52 lakh and PAT after minority interest ₹61,968.09 lakh. Production rose to 278,590 MT from 262,969 MT.

• Sales volumes were broadly flat at 260,409 MT after a combined 32,075 MT loss in Canada and South Africa, offset by gains in other regions.

Financial highlights

• Consolidated revenue from operations increased from ₹288,149.24 lakh to ₹356,654.73 lakh; PBT rose from ₹72,964.79 lakh to ₹78,126.85 lakh.

• Consolidated PAT after minority interest was ₹61,968.09 lakh versus ₹56,612.19 lakh; basic and diluted EPS was ₹65.70 versus ₹60.02.

• Consolidated EBITDA was ₹87,723.52 lakh versus ₹82,744.19 lakh; EBITDA margin was 24.60% versus 28.72%.

• Consolidated total comprehensive income was ₹59,544.95 lakh versus ₹54,272.52 lakh, including a ₹2,416.85 lakh net OCI loss in FY22.

Outlook and guidance

• Mining remains the primary growth engine; high-chrome media penetration is below 20% of an estimated 2.5 million-tonne annual mining grinding-media market.

• Mine conversion activity resumed as travel restrictions eased in H2 FY22; customer conversion can take 1–2 years or longer, and near-term development cycles remain extended by supply-chain caution.

• Mill-lining production was targeted for Q2 FY23 commissioning, with full utilisation planned over 4–5 years; cement demand was expected to grow near double digits in India and 3%–4% globally.

• FY23 capex guidance was ₹300 crore; medium-term expansion and hybrid power projects are planned to be funded from internal accruals.