AIA Engineering , a leading manufacturer of high chromium wear, corrosion, and abrasion resistant castings, has announced its audited financial results for the fiscal year ended March 31, 2022, showcasing robust growth and strategic expansion plans.

Financial Highlights

The company reported impressive financial performance for FY 2022:

AIA Engineering's standalone profit saw a significant increase of 20.5%, rising to ₹58,450.53 lakhs from ₹48,490.18 lakhs in the previous year. The company's revenue from operations also demonstrated strong growth, reaching ₹308,157.03 lakhs, up 24.6% from ₹247,299.38 lakhs in the prior year.

Dividend Declaration

In light of the company's strong financial performance, the Board of Directors has recommended a dividend of ₹9 per equity share with a face value of ₹2 each. This represents an impressive dividend rate of 450%, reflecting the company's commitment to delivering value to its shareholders.

Expansion Plans

AIA Engineering has approved a brownfield capacity expansion project for its grinding media production. The company plans to add 80,000 MT of capacity with an estimated investment of ₹200 crores. This strategic expansion is expected to be commissioned by the end of FY 2024, positioning the company for future growth and increased market share.

Corporate Governance

In a move to ensure continued financial oversight and transparency, the Board has reappointed B S R & Co. LLP as the company's statutory auditors for a second five-year term. This reappointment is subject to shareholder approval at the upcoming general meeting.

AIA Engineering's strong financial results, generous dividend payout, and strategic expansion plans demonstrate the company's robust business model and its commitment to long-term growth. As the company moves forward with its capacity expansion, investors and industry observers will be keen to see how these initiatives translate into future performance and market positioning.

AIA Engineering , a prominent player in the industrial machinery sector, witnessed a significant block trade on the National Stock Exchange (NSE) on Wednesday. The transaction, valued at approximately Rs. 36.42 crores, involved the exchange of 120,091 shares of the company.

Block Trade Details

The block deal was executed at a price of Rs. 3,033.00 per share, reflecting current market valuations for AIA Engineering. This substantial transaction underscores the continued interest in the company's stock among institutional investors and large traders.

Market Impact

Block trades of this magnitude often attract attention in the financial markets as they can potentially influence stock prices and indicate shifts in institutional holdings. However, it's important to note that the immediate impact on AIA Engineering's stock price and overall market sentiment would depend on various factors, including the broader market conditions and the company's recent performance.

About AIA Engineering

AIA Engineering specializes in the design, development, manufacture, installation, and servicing of high chromium wear, corrosion, and abrasion resistant castings. The company primarily caters to the cement, mining, and thermal power generation industries.

While this block trade represents a notable transaction for AIA Engineering, investors and market analysts will likely be watching closely to see if it signals any broader trends or changes in the company's investor base.