AIA ENGINEERING LTD
Add to watch list to get report alerts
BSE Code:
532683
NSE Code:
AIAENG
Business Profile
Business Profile
AIA Engineering (AIAENG) specializes in design, development, manufacture, installation and servicing of high-chromium wear, corrosion and abrasion resistant parts used in cement, mining and thermal power generation industries. The company was incorporated as a joint venture with Magotteaux International Belgium on Mar. 11, 1991 and got its current name in 2000. It went public in 2005. The chairman of the company is Rajendra S. Shah and Bhadresh K. Shah is the managing director.
The company manufactures value-added, impact, abrasion and corrosion resistant high chrome metallurgy components of ball mills (tube mills) and vertical mills called mill internals, which are integral equipments forming part of cement plants, mining plants and thermal power plants. Products include grinding media, tube mill liners, diaphragms, vertical mill parts, HRCS castings etc. It has a manufacturing capacity of 65,000 high chrome grinding media, liners, vertical mill spares and mining liners and can deliver 100 diaphragms per annum.
The company offers services like ball charge management where it maintains warehouses to maintain stock of grinding media. It operates mobile ball sorting units that sort media at the customer`s site. The company offers optimum process services to improve production and reduce energy consumption. It has a team of well-trained installation supervisors in various parts of the world.
Clients include ACC, Gujarat Ambuja Cement, Kudremukh Iron Ore Company, Hindustan Zinc, Bharat Aluminium Company, thermal power plants, OEMs etc. The company markets globally through subsidiaries in North and South America, Europe, Middle East, Far East, Australia and Africa. Domestic subsidiaries are Reclamation Welding and Paramount Centrispun, and four wholly-owned overseas subsidiaries are Vega Industries in the Middle East, USA, UK and Canada.
The registered office is at 115, GVMM Estate, Odhav Road, Ahmedabad- 382410, Gujarat.
Financials
AIA Engineering registered a decline in net profit of Rs 152.16 million for the quarter ended in June 2007 from a profit of Rs 152.93 million for the quarter ended June 2006.
Net sales rose 23.99% to Rs 1,141.23 million for the quarter ended June 2007 from Rs 920.44 million for the quarter ended June 2006.
Total income rose 23.14% to Rs 1,186.1 million for the quarter ended June 2007 from Rs 963.23 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 8.09 for the quarter ended June 2007.
Recent Developments
20-FEB-08
AIA Engineering announced that the company acquired 31,503 (27.53%) equity shares of Rs 100 each of PCCL, a subsidiary of the company. Consequently, PCCL has become a 100% subsidiary of the company with effect from Feb. 20, 2008.
Future Plans
The company plans to set up a high chrome mill internals manufacturing plant at an estimated investment of Rs. 1.5 billion. The company is looking to set up this plant at a strategic location with an installed capacity of 100,000 tons per annum.