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AIA Engineering Limited (532683) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of AIA Engineering Limited ₹1,453, price ₹3,825, upside -62.0%, quality 65 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
  3. Add to watchlist

Industrials · IN · ISIN INE212H01026

AE Thin data Sep 24, 2026

AIA Engineering Limited

532683 · BSE

Stretched ValuationStrong overvaluation with only moderate quality.

!Fair value ₹1,453 · Strongly overvalued (−62.0%)
✓Quality 65/100
!Mixed Growth (revenue 5y +7.5 %/yr)
✓Solidly profitable · 19.9% net margin (TTM)
✓Low debt
✓0.9% dividend yield · Well covered
✓Wide moat 68/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹5,083 ₹1,522 Fair Value ₹1,453 May 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ₹1,522 – ₹5,083 · fair‑value band ₹1,037 – ₹1,965 · the ₹3,825 price screens above the ₹1,453 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

AIA Engineering Limited designs, develops, manufactures, installs, and servicing high chromium wear, corrosion, and abrasion resistant castings in India and internationally.

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AIA Engineering Limited designs, develops, manufactures, installs, and servicing high chromium wear, corrosion, and abrasion resistant castings in India and internationally. The company offers grinding media; shell liners; and diaphragms, such as partition walls, discharge diaphragms, drying chamber diaphragms, inlet/outlet head liners, and dopple rotator diaphragms for tube mill applications; and grinding tables and rolls for vertical mill applications. It also provides castings for pre heaters, kilns, and coolers; and wear parts for cone crushers, hammer crushers, impellor crushers, and vertical shaft impact crushers. In addition, the company offers rod mill internal products; and wear components for mining applications. Further, it provides tube mill internals, vertical mill parts, and high performance milling systems; and installation and commissioning supervision, and mill optimization technical services for the power industry, as well as wear components for the aggregates industry. Additionally, the company offers mill audit, turnkey installation and commissioning, stock assessment and management, and performance monitoring services. Its products are used in cement, mining, and thermal power generation industries. AIA Engineering Limited was founded in 1979 and is based in Ahmedabad, India.

Stock analysis

AIA Engineering Limited (532683) currently trades at ₹3,825, while our model-based Fair Value estimate is ₹1,453, 62.0% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹1,952 per share, and 0 of the 25 models we run sit above the ₹3,825 price.

Bear case: the Dividend Discount group reads lowest at ₹161.49, and 25 of the 25 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹1,037 (bear) to ₹1,965 (bull), the price of ₹3,825 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 65/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

AIA Engineering Limited reported revenue of ₹42.9B in FY2025 versus ₹28.8B in FY2021, a compound +10.4%/yr. Reported net income was ₹10.6B in FY2025, compounding +17.0%/yr from FY2021.

Key figures

Market cap ₹160B (≈ $1.7B) · P/E ratio 28.8 · P/S ratio 7.13 · EPS (TTM) ₹60.53 · Dividend yield 0.9% · Net margin 24.7% · Return on equity 14.9% · Return on assets (EBIT) 14.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 55 out of 100 (low confidence).

What moves the price

The share trades about 25% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −62%, 532683 screens richer than that median.

Fair Value models

Bear ₹1,037 Fair Value ₹1,453 Bull ₹1,965
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (₹24.53 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF ₹1,016 ₹1,375 ₹1,826 81
Growth DCF ₹1,031 ₹1,353 ₹1,740 79
Owner Earnings ₹1,018 ₹1,377 ₹1,828 77
All 25 models by family
DCF Models
FCF DCF ₹1,016 ₹1,375 ₹1,826 81
Owner Earnings ₹1,018 ₹1,377 ₹1,828 77
5Y Revenue Exit ₹759.26 ₹1,047 ₹1,395 73
5Y EBITDA Exit ₹1,056 ₹1,579 ₹2,165 75
5Y P/E Exit ₹1,354 ₹2,116 ₹2,882 70
10Y Revenue Exit ₹844.78 ₹1,109 ₹1,428 68
10Y EBITDA Exit ₹1,029 ₹1,440 ₹1,945 69
10Y P/E Exit ₹1,200 ₹1,773 ₹2,427 64
Earnings-Based
Graham-Dodd ₹764.73 ₹1,920 ₹2,492 65
PEG = 1.0 ₹352.68 ₹503.82 ₹654.97 57
EPV ₹822.06 ₹928.42 ₹1,017 74
Dividend Discount
Gordon GGM ₹112.95 ₹189.39 ₹271.04 68
DDM Multi-Stage ₹112.95 ₹161.49 ₹207.15 67
Multiples
P/E Multiple ₹1,771 ₹2,362 ₹2,952 63
P/S Multiple ₹681.84 ₹909.12 ₹1,136 58
P/B Multiple ₹1,434 ₹1,912 ₹2,390 55
EV/EBIT ₹1,459 ₹1,931 ₹2,403 66
EV/EBITDA ₹1,232 ₹1,629 ₹2,025 67
EV/Revenue ₹614.85 ₹860.31 ₹1,106 54
Asset-Based
NCAV (Graham) ₹367.21 ₹492.06 ₹734.41 54
Growth DCF
Growth DCF ₹1,031 ₹1,353 ₹1,740 79
Rev-Margin DCF ₹759.26 ₹1,063 ₹1,399 73
Economic Profit
Residual Income ₹699.20 ₹832.83 ₹1,097 76
ROIC Compounder ₹834.26 ₹980.33 ₹1,137 72
Growth Earnings
Growth-Adj P/E ₹1,367 ₹1,952 ₹2,538 67

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Quality Score breakdown

Overall quality 65/100

Of which business quality 65 · Market factors (momentum, volatility) 56

Profitability 64
Margins and returns on capital today
Quality Growth 27
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 89
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−11.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.5%
Start year 2020 (pandemic). Over 10 years: +7.0% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+14.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+13.6%
Dividend (yield on the price)0.9%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 24%

532683 screens overvalued: fair value 62% below the price. Compare with GE Vernova Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 789 stocks

Beats the industry median on 6/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 65 · Top 25%
Fair Value upside −72.8% · Bottom 25%
Profitability
Return on equity (TTM) 14.9% · Top 25%
Return on assets 8.3% · Top 25%
Net margin (TTM) 19.9% · Top 25%
Operating margin (TTM) 19.9% · Top 25%
Growth and dividend
Revenue growth 6.6% · Above median
Dividend yield (TTM) 0.9% · Below median

Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 28.8× · Pricier than median
P/B 2.31× · Pricier than median
P/S (TTM) 5.58× · Priciest 25%
EV/EBITDA 23.5× · Pricier than median

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
GE Vernova Inc GEV $950.49 $142.61 −85%
SIE SIE €271.90 €150.42 −45%
Eaton Corporation ETN $433.27 $173.12 −60%
Parker-Hannifin Corporation PH $970.37 $494.81 −49%
Emerson Electric Co EMR $155.10 $62.54 −60%
Illinois Tool Works Inc ITW $257.28 $153.33 −40%
Cummins Inc CMI $516.57 $359.11 −30%
AMETEK, Inc AME $250.74 $125.77 −50%
Rockwell Automation, Inc ROK $442.45 $139.31 −69%
Sandvik AB SAND kr 362.00 kr 193.59 −47%

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AIA Engineering Limited · Fair Value
₹1,453 −62%Fair Value
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Cite: Fair Value Calculator (2026). "AIA Engineering Limited Fair Value". https://www.fairvalue-calculator.com/stock/532683

Frequently asked questions

Is AIA Engineering Limited (532683) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹1,453 versus a price of ₹3,825, about −62% upside (overvalued).
What is the fair value of 532683?
Our model-based fair value for AIA Engineering Limited is ₹1,453 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹3,825.
What is the quality score of 532683?
AIA Engineering Limited has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for AIA Engineering Limited (532683)?
Our model-based price target is the fair value of ₹1,453 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario ₹1,037, optimistic scenario ₹1,965. It is a calculation from audited fundamentals, not an analyst target.
What is the AIA Engineering Limited stock forecast for 2026?
Our models put fair value at ₹1,453, about −62% upside versus a price of ₹3,825 (overvalued). Cautious scenario ₹1,037, optimistic scenario ₹1,965. The calculation is refreshed regularly with new filings.
What is the revenue of AIA Engineering Limited (532683)?
AIA Engineering Limited reported trailing-twelve-month revenue of about ₹28.7B (latest available figure, as of Sep 24, 2026).
Does AIA Engineering Limited pay a dividend?
AIA Engineering Limited currently shows a dividend yield of about 0.94% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of AIA Engineering Limited (532683)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AIA Engineering Limited it is ₹1,453 per share (as of Sep 24, 2026), against a price of ₹3,825. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is AIA Engineering Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 532683 trades above its calculated fair value: price ₹3,825, fair value ₹1,453, a gap of about −62% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 532683?
No. The price is what the market pays today (₹3,825); the fair value is what the company's own numbers justify (₹1,453). For AIA Engineering Limited the two are ₹2,372 per share apart. That gap is exactly why we show both numbers side by side.
How much is AIA Engineering Limited worth?
The market values AIA Engineering Limited at about ₹160B (market capitalisation, as of Sep 24, 2026). Per share that is ₹3,825; our models calculate a fair value of ₹1,453 per share.
What do the bullish and bearish scenarios say about 532683?
Our models span a range for AIA Engineering Limited: cautious scenario ₹1,037, base ₹1,453, optimistic ₹1,965 per share (as of Sep 24, 2026, price ₹3,825). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 532683?
AIA Engineering Limited trades at a price-to-earnings ratio of 28.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,453 is built from several models across several years. Other multiples: P/B 2.3, P/S 5.6, EV/EBITDA 23.5.
How solid is the balance sheet of AIA Engineering Limited (532683)?
Balance-sheet figures for AIA Engineering Limited (as of Sep 24, 2026): return on equity 14.9%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 532683 from its 52-week high?
AIA Engineering Limited trades at ₹3,825, about 25% below its 52-week high of ₹5,083 and 20% above the low of ₹3,176 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,453 is for.
Which stocks are comparable to AIA Engineering Limited?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is AIA Engineering Limited stock attractive at the current price?
The data as of Sep 24, 2026: price ₹3,825, calculated fair value ₹1,453 (−62%), Quality Score 65/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 532683 calculated?
We run AIA Engineering Limited through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,453, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. AIA Engineering Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of AIA Engineering Limited (532683)?
The closing price on Oct 1, 2026 was ₹3,825. Our model-based fair value is ₹1,453, about −62% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AIA Engineering Limited right now?
The price sits above even our optimistic bull case (₹1,965). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹1,037 to ₹1,965) leaves room in how you read the outcome.

Key figures of AIA Engineering Limited

How large is the market capitalisation of AIA Engineering Limited (532683)?
The market capitalisation of AIA Engineering Limited is ₹160B (≈ $1.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of AIA Engineering Limited (532683)?
The price-to-sales ratio of AIA Engineering Limited is 7.13 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AIA Engineering Limited (532683)?
Earnings per share at AIA Engineering Limited are ₹60.53 (price ÷ EPS = P/E 28.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AIA Engineering Limited (532683)?
The dividend yield of AIA Engineering Limited is 0.9% (payout 59.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of AIA Engineering Limited (532683)?
The net margin of AIA Engineering Limited is 24.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of AIA Engineering Limited (532683)?
The return on equity (ROE) of AIA Engineering Limited is 14.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of AIA Engineering Limited (532683)?
On an EBIT basis the return on assets of AIA Engineering Limited is 14.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of AIA Engineering Limited (532683)?
The operating margin of AIA Engineering Limited is 19.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AIA Engineering Limited (532683)?
Revenue at AIA Engineering Limited is growing +6.6% versus a year earlier (3y avg +6.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at AIA Engineering Limited (532683)?
Earnings per share at AIA Engineering Limited are growing −5.5% versus a year earlier. How much earnings per share grew versus a year earlier.
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