AIA Engineering zooms by 9.31 per cent; here’s why!
The scrip rallied 9.31 per cent to Rs 2,050 per share on NSE. The shares of AIA Engineering Ltd have surged more than 14 per cent over the last five trading sessions.
Today, only buyers were seen in the case of AIA Engineering Ltd as the company announced its financial results. The company announced that it recorded net sales and other operating income of Rs 1,093.34 crore thereby, posting a growth of 27.11 per cent from Rs 860.17 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 264.67 crore in Q4FY22 as compared to an operating profit of Rs 192.47 crore in Q4FY21. Q4FY22 registered a net profit of Rs 194.02 crore in comparison with the net profit of Rs 133.13 crore in the same quarter of the previous year, surging 45.73 per cent.
Considering the yearly performance, the operating profit of AIA Engineering Ltd was recorded at Rs 877.24 crore in Q4FY22 as compared to an operating profit of Rs 827.44 crore in Q4FY21. The net profit soared 9.53 per cent to Rs 619.62 crore as against Rs 565.71 crore during the previous year, ending March 2021. On the other hand, net sales rose by 23.77 per cent to Rs 3,566.55 crore as against Rs 2,881.49 crore during the previous year, ending March 2021.
The board has recommended a dividend of Rs 9.00 per equity share of Rs 2 each (i.e. 450 per cent dividend). The above dividend, if declared by the members of the company at the annual general meeting (AGM), will be credited/paid within 30 days from the date of the AGM.
AIA Engineering Ltd was established in 1979 at Ahmedabad, India. They are into designing, developing, manufacturing and installation of abrasion and corrosion resistant castings. It’s the second largest Hi-Chrome casting producer in the world. The company has 11 subsidiaries in countries including India, UAE, UK, USA, etc.
Investors should watch out for this counter in the upcoming sessions.