Shares of AIA Engineering surged over 10 per cent to hit a brand new 52-week excessive of Rs 2,644 after wholesome Q1 outcomes.
In keeping with a launch issued by the corporate to the BSE on Tuesday, the corporate’s consolidated internet revenue rose 28.4 per cent to Rs 191.47 crore for the quarter ended June 2022 as in opposition to Rs 149.10 crore within the corresponding quarter a 12 months in the past. Whole revenue grew 41.2 per cent year-on-year to Rs 1,100.33 crore.
At 10:55 am, the inventory traded on a agency word at Rs 2,635 – up 10 per cent in an in any other case flat market. Round 13,000 shares are traded over-the-counter in opposition to the two-week day by day common quantity of round 2,800-odd shares on the BSE.
Previously eight weeks, the inventory has gained almost 27 per cent as in opposition to a 14.5 per cent acquire within the benchmark index. Moreover, the inventory has jumped almost 79 % from its low in early March 2022.
Commenting on the enterprise replace, the corporate stated, it has been in a position to navigate the provision chain disruptions related to COVID-19 by participating with clients in uncooked materials pricing, buyer demand and transport prices. Delivery prices proceed to rise, however we stay optimistic about charges normalizing within the coming quarters as port closures, container clearances and port shortages on ships and container availability change into higher and extra in step with demand.
The corporate made centered efforts to speed up its providing to mining clients, particularly in gold and copper, and expects to proceed the journey of changing solid grinding media to excessive chrome, the discharge stated. .
As well as, the corporate has estimated capital expenditure of Rs 300 crore in FY13, which incorporates Mill Lining Venture, Grinding Media Enlargement Venture and Hybrid Energy Venture Wind and Photo voltaic Energy.
The order guide of the corporate as on July 01, 2022 was Rs 700 crore.