AIA Engineering Limited (AIAENG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of AIA Engineering Limited stock ₹2,319, price ₹3,114, that is 25.5% below the price, quality 68 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ₹1,512 – ₹5,062 · fair‑value band ₹1,403 – ₹3,580 · the ₹3,114 price screens above the ₹2,319 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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AIA Engineering Limited designs, develops, produces, installs, and services high chromium, wear-resistant parts for grinding equipment used in the cement, mining, and quarry industries in India, the United Arab Emirates, and internationally.
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The company offers lining systems, DE assemblies, fasteners, and ceramic composite alloys; diaphragms, shell liners, grinding media, mill liners, FLS, pfeiffer, polysius, and loesche; blow bars, hammers, impellers, anvils, feed disks, and frame liners; and wear-resistant components, tube mill lining and air flow regulation systems, and mill parts.
It also provides service, such as design and holistic process modelling; installation supervision; wear monitoring, including scanning; circuit diagnostics, air flow regulation system, and ball charge optimization; ball sorting; mill operation, audit, analysis, and tuning; and condition monitoring.
It serves mining, cement, quarry, and thermal power generation industries. The company was founded in 1978 and is based in Ahmedabad, India.
Stock analysis
AIA Engineering Limited (AIAENG) currently trades at ₹3,114, while our model-based Fair Value estimate is ₹2,319, 26% 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 ₹2,606 per share, and 2 of the 26 models we run sit above the ₹3,114 price.
Bear case: the Asset-Based group reads lowest at ₹705.48, and 24 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹1,403 (bear) to ₹3,580 (bull), the price of ₹3,114 sits inside 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 68/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
AIA Engineering Limited reported revenue of ₹44.2B in FY2026 versus ₹35.7B in FY2022, a compound +5.5%/yr. Reported net income was ₹12.7B in FY2026, compounding +19.7%/yr from FY2022.
Key figures
Market cap ₹316B (≈ $3.4B) Mid · P/E ratio 24.1 · P/S ratio 6.95 · EPS (TTM) ₹132.72 · Dividend yield 0.5% · Net margin 27.8% · Return on equity 17.0% · Return on assets (EBIT) 31.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 80 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −46% fair-value upside, at −26%, AIAENG screens cheaper than that median.
Fair Value models
Bear₹1,403Fair Value ₹2,319Bull₹3,580
Price ₹3,114 · Downside -25.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹70.99 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.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF₹556.74₹816.86₹1,17578
Growth DCF₹558.48₹781.27₹1,06777
Owner Earnings₹828.83₹1,222₹1,76374
All 26 models by family
DCF Models
FCF DCF₹556.74₹816.86₹1,17578
Owner Earnings₹828.83₹1,222₹1,76374
5Y Revenue Exit₹578.47₹916.77₹1,35170
5Y EBITDA Exit₹945.09₹1,614₹2,40772
5Y P/E Exit₹1,392₹2,464₹3,61367
10Y Revenue Exit₹547.42₹839.28₹1,23764
10Y EBITDA Exit₹779.70₹1,288₹1,98965
10Y P/E Exit₹1,044₹1,836₹2,84860
Earnings-Based
Graham-Dodd₹925.53₹3,122₹4,18462
Lynch FV₹712.66₹1,018₹1,32459
PEG = 1.0₹712.66₹1,018₹1,32455
EPV₹739.90₹838.87₹921.6074
Dividend Discount
Gordon GGM₹114.58₹208.26₹288.8465
DDM Multi-Stage₹114.58₹185.49₹222.2765
Multiples
P/E Multiple₹2,144₹2,858₹3,57363
P/S Multiple₹710.43₹947.25₹1,18458
P/B Multiple₹2,893₹3,858₹4,82255
EV/EBIT₹1,591₹2,114₹2,63766
EV/EBITDA₹1,340₹1,779₹2,21867
EV/Revenue₹619.65₹875.41₹1,13154
Asset-Based
NCAV (Graham)₹465.62₹705.48₹881.8554
Growth DCF
Growth DCF₹558.48₹781.27₹1,06777
Rev-Margin DCF₹578.47₹916.21₹1,31370
Economic Profit
Residual Income₹831.26₹1,023₹1,44873
ROIC Compounder₹739.90₹838.87₹980.0170
Growth Earnings
Growth-Adj P/E₹1,824₹2,606₹3,38765
The fair value above starts from this blend and is adjusted for a year distorted by one-off effects.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+3.1%
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.
−3.4%
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.
+8.9%
Start year 2021 (pandemic). Over 10 years: +7.7% a year
Revenue growth 21 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.
+13.8%
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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.
+17.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.8%
Dividend (yield on the price)0.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.16.8% vs 10.9%, picking up
Profit margin 2005 to 2026 ⓘ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.13% → 26%
Pace: the 5-year rate starts in 2021 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+30.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +25.4% a year for the price and +5.4% for the forecasts.
Compare AIA Engineering Limited with another stock
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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 · 814 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−25.5% · Above median
Profitability
Return on equity (12 months)17.0% · Top 25%
Return on assets14.9% · Top 25%
Net margin (12 months)27.8% · Top 25%
Operating margin (12 months)23.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)12.4% · Above median
Dividend yield (12 months)0.5% · Bottom 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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Is AIA Engineering Limited (AIAENG) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ₹2,319 versus a price of ₹3,114, about 26% lower (overvalued).
What is the fair value of AIAENG?
Our model-based fair value for AIA Engineering Limited is ₹2,319 (as of Nov 6, 2026), built from audited fundamentals. The current price: ₹3,114.
What is the quality score of AIAENG?
AIA Engineering Limited has a Quality Score of 68/100. 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 (AIAENG)?
Our model-based price target is the fair value of ₹2,319 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario ₹1,403, optimistic scenario ₹3,580. 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 ₹2,319, about 26% lower versus a price of ₹3,114 (overvalued). Cautious scenario ₹1,403, optimistic scenario ₹3,580. The calculation is refreshed regularly with new filings.
What is the revenue of AIA Engineering Limited (AIAENG)?
AIA Engineering Limited reported trailing-twelve-month revenue of about ₹45.5B (latest available figure, as of Nov 6, 2026).
Does AIA Engineering Limited pay a dividend?
AIA Engineering Limited currently shows a dividend yield of 0.51% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of AIA Engineering Limited (AIAENG) and when is the ex-dividend date?
AIA Engineering Limited pays a dividend of ₹16.00 per share a year, a dividend yield of 0.5%. The last ex-dividend date was Sep 4, 2026. A dividend has been paid every year since at least 2006. The payout ratio is 12.1% of earnings. Free cash flow covers the dividend 3.25 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into AIA Engineering Limited (AIAENG)?
For today's price to be fair in a discounted-cash-flow model, AIA Engineering Limited would have to grow free cash flow by +30.6 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.9 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of AIAENG use?
Our models discount AIA Engineering Limited at 10.9 %: a base by market capitalisation (mid), damped by beta 0.28, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For AIA Engineering Limited that is +30.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has AIA Engineering Limited (AIAENG) delivered so far?
Over the past 5 years revenue at AIA Engineering Limited grew +8.9 % a year. The price currently implies free-cash-flow growth of +30.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of AIA Engineering Limited (AIAENG) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into AIA Engineering Limited (+30.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of AIA Engineering Limited (AIAENG)?
The free-cash-flow yield on the price is 1.67 %: that much free cash flow AIA Engineering Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of AIA Engineering Limited (AIAENG)?
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 ₹2,319 per share (as of Nov 6, 2026), against a price of ₹3,114. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is AIA Engineering Limited stock overvalued or undervalued in 2026?
As of Nov 6, 2026, AIAENG trades above its calculated fair value: price ₹3,114, fair value ₹2,319, a gap of about −26% (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 AIAENG?
No. The price is what the market pays today (₹3,114); the fair value is what the company's own numbers justify (₹2,319). For AIA Engineering Limited the two are ₹794.89 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 ₹316B (market capitalisation, as of Nov 6, 2026). Per share that is ₹3,114; our models calculate a fair value of ₹2,319 per share.
What do the bullish and bearish scenarios say about AIAENG?
Our models span a range for AIA Engineering Limited: cautious scenario ₹1,403, base ₹2,319, optimistic ₹3,580 per share (as of Nov 6, 2026, price ₹3,114). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AIAENG?
AIA Engineering Limited trades at a price-to-earnings ratio of 24.1 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹2,319 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2017 to 2026), reported earnings, FY2026 ex one-offs: 30.1. Other multiples: P/B 3.9, P/S 7.0, EV/EBITDA 24.9.
How solid is the balance sheet of AIA Engineering Limited (AIAENG)?
Balance-sheet figures for AIA Engineering Limited (as of Nov 6, 2026): return on equity 17.0%. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is AIAENG from its 52-week high?
AIA Engineering Limited trades at ₹3,114, about 38% below its 52-week high of ₹5,062 and at the low of ₹3,114 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,319 is for.
Which stocks are comparable to AIA Engineering Limited?
From the same area (Industrials) we also value SIE, GE Vernova Inc, 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 Nov 6, 2026: price ₹3,114, calculated fair value ₹2,319 (−26%), Quality Score 68/100, from 26 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 AIAENG calculated?
We run AIA Engineering Limited through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹2,319 builds on their evidence-weighted average, 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 13.0% 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 (AIAENG)?
The closing price on Nov 6, 2026 was ₹3,114. Our model-based fair value is ₹2,319, about 26% lower (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?
Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹1,403 to ₹3,580) leaves room in how you read the outcome.
Where does the earnings growth of AIA Engineering Limited (AIAENG) come from?
Earnings per share at AIA Engineering Limited grew +11.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +8.5 %, EBIT margin −3.3 %, tax rate +1.1 %, residual (interest, one-offs) +4.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of AIA Engineering Limited
How large is the market capitalisation of AIA Engineering Limited (AIAENG)?
The market capitalisation of AIA Engineering Limited is ₹316B (≈ $3.4B). 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 (AIAENG)?
The price-to-sales ratio of AIA Engineering Limited is 6.95 (last twelve months). 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 (AIAENG)?
Earnings per share at AIA Engineering Limited are ₹132.72 (price ÷ EPS = P/E 24.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of AIA Engineering Limited (AIAENG)?
The dividend yield of AIA Engineering Limited is 0.5% (payout 12.1%). 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 (AIAENG)?
The net margin of AIA Engineering Limited is 27.8% (last twelve months). 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 (AIAENG)?
The return on equity (ROE) of AIA Engineering Limited is 17.0% (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 (AIAENG)?
On an EBIT basis the return on assets of AIA Engineering Limited is 31.1% (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 (AIAENG)?
The operating margin of AIA Engineering Limited is 23.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AIA Engineering Limited (AIAENG)?
Revenue at AIA Engineering Limited is growing +12.4% versus a year earlier (3y avg −3.4%). 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 (AIAENG)?
Earnings per share at AIA Engineering Limited are growing −1.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does AIA Engineering Limited (AIAENG) hold?
AIA Engineering Limited holds more cash than debt, ₹2.1B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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Some data
Nov 6, 2026