AIA Engineering Limited (AIAENG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of AIA Engineering Limited ₹2,447, price ₹3,970, upside -38.4%, quality 68 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
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 ₹1,518 – ₹5,081 · fair‑value band ₹1,481 – ₹3,778 · the ₹3,970 price screens above the ₹2,447 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 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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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. 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 ₹3,970, while our model-based Fair Value estimate is ₹2,447, implying the stock looks roughly 62.2% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹2,606 per share, and 0 of the 26 models we run sit above the ₹3,970 price.
Bear case: the Asset-Based group reads lowest at ₹576.19, and 26 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹1,481 (bear) to ₹3,778 (bull), the price of ₹3,970 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 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 ₹434B (≈ $4.5B) · P/E ratio 29.2 · P/S ratio 8.38 · EPS (TTM) ₹136.17 · Dividend yield 0.4% · Net margin 28.7% · Return on equity 17.0% · Return on assets (EBIT) 31.1%.
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 22% below its 52-week high and 30% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at −38%, AIAENG screens cheaper than that median.
Fair Value models
Bear ₹1,481Fair Value ₹2,447Bull ₹3,778
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 2026 figures (about 6 months old). Earnings retained since then (₹58.27 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.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.
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.
+17.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+16.8%
Dividend (yield on the price)0.4%
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.17% vs 11%, 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%
Start year 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).
+36.4%
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.
+9.9%
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 +31.0% a year for the price and +5.5% for the forecasts.
Compare AIA Engineering Limited with another stock
Price, fair value, quality and upside side by side.
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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 · 826 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside−38% · Below median
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets9% · Top 25%
Net margin (TTM)29% · Top 25%
Operating margin (TTM)26% · Top 25%
Growth and dividend
Revenue growth9% · Above median
Dividend yield (TTM)0.4% · Bottom 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
P/E (TTM)29.2× · Cheaper than median
P/B5.40× · Priciest 25%
P/S (TTM)9.81× · Priciest 25%
P/FCF0.9× · Cheapest 25%
EV/EBITDA34.3× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)47· sector 22
PAST (return on equity)68· sector 28
HEALTH (low debt)100· sector 95
DIVIDEND (yield)8· sector 25
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is AIA Engineering Limited (AIAENG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ₹2,447 versus a price of ₹3,970, about −38% upside (overvalued).
What is the fair value of AIAENG?
Our model-based fair value for AIA Engineering Limited is ₹2,447 (as of Sep 24, 2026), built from audited fundamentals. The current price: ₹3,970.
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 ₹2,447 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario ₹1,481, optimistic scenario ₹3,778. 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 ₹2,447, about −38% upside versus a price of ₹3,970 (overvalued). Cautious scenario ₹1,481, optimistic scenario ₹3,778. 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 ₹44.2B (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 0.40% relative to its recent price (as of Sep 24, 2026).
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 +36.4 % 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 Sep 24, 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 0.27, 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 +36.4 % per year a year over ten years, 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 +36.4 % per year free-cash-flow growth a 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 +4.7 % a year. That is the yardstick for the growth priced into AIA Engineering Limited (+36.4 % per year a 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 1.31 %: 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 ₹2,447 per share (as of Sep 24, 2026), against a price of ₹3,970. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is AIA Engineering Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, AIAENG trades above its calculated fair value: price ₹3,970, fair value ₹2,447, a gap of about −38% (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 (₹3,970); the fair value is what the company's own numbers justify (₹2,447). For AIA Engineering Limited the two are ₹1,523 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 ₹434B (market capitalisation, as of Sep 24, 2026). Per share that is ₹3,970; our models calculate a fair value of ₹2,447 per share.
What do the bullish and bearish scenarios say about AIAENG?
Our models span a range for AIA Engineering Limited: cautious scenario ₹1,481, base ₹2,447, optimistic ₹3,778 per share (as of Sep 24, 2026, price ₹3,970). 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 29.2 (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 ₹2,447 is built from several models across several years. Other multiples: P/B 5.4, P/S 9.8, EV/EBITDA 34.3.
How solid is the balance sheet of AIA Engineering Limited (AIAENG)?
Balance-sheet figures for AIA Engineering Limited (as of Sep 24, 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 ₹3,970, about 22% below its 52-week high of ₹5,081 and 30% above the low of ₹3,053 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of ₹2,447 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 ₹3,970, calculated fair value ₹2,447 (−38%), 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 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 ₹2,447, 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 14.1 % 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 Sep 23, 2026 was ₹3,970. Our model-based fair value is ₹2,447, about −38% 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 (₹3,778). The favourable scenario is already priced in. Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹1,481 to ₹3,778) 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 ₹434B (≈ $4.5B). 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 8.38 (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 (AIAENG)?
Earnings per share at AIA Engineering Limited are ₹136.17 (price ÷ EPS = P/E 29.2). 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 0.4% (payout 11.8%). 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 28.7% (fiscal year 2026). 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 26.4% (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 +9.4% 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 +38.0% 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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