AIA Engineering Share Price

AIA Engineering

CMP as on 05-Aug-21 15:29

₹ 1,948.00
-37.90 -1.91%

Open

₹ 2,011.45

Turnover (lac)

₹ 250

Prev. Close

₹ 1,985.90

Day's Vol (shares)

₹ 12,843

Day's Range (₹)

₹ 1,945.00
₹ 2,011.45

CMP as on05-Aug-21 15:28

₹ 1,946.35
-32.95 -1.66%

Open

₹ 2,040.75

Turnover (lac)

₹ 12

Prev. Close

₹ 1,979.30

Day's Vol (shares)

₹ 1,019

Day's Range

₹ 1,946.00
₹ 2,040.75

AIA Engineering Ltd is a certified ISO 9000 company, specializes in design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant parts used in cement, mining and thermal power generation industries. The company has a global presence in terms of sales and service offices across the world. Outside India, the company sells under the brand name Vega. AIA currently has current capacity to manufacture 340,000 MT of high chromium wear parts and pursuing capacity expansion program to reach 440,000 MT. AIA Engineering Ltd was incorporated on March 11, 1991, with the name Magotteaux (India) Pvt Ltd. On November 4, 1978, Ahmedabad Induction Alloys Pvt Ltd, promoted by Mr Bhadresh K Shah was incorporated. This company was merged with AIA Engineering on April 1, 1991. The name of the company was changed to AIA Magotteaux Pvt with effect from May 11, 1992. The name of the company was further changed to AIA Engineering Ltd on May 2, 2000 due to the termination of joint venture with Magotteaux International S A, Belgium.In the year 1995, the company made a technical collaboration with Southwestern Corporation (SWC), USA for process improvement in Raymond mills. In the year 1997, they associated with Alstom for process know-how for Stein designed mills for power plants. In September 2003, AIA Exports Pvt Ltd merged with the company with effect from April 1, 2002. In the same year, they acquired the 100% stake in Vega UK through Vega Middle East, thereby making all Vega companies wholly owned subsidiaries. During the year 2003-04, a wholly owned subsidiary in the name of Vega Industries (Canada) Inc was incorporated in Canada. On December 31, 2004, the company acquired entire business of Gray Cast Foundry Works (GCFW), a partnership firm and the manufacturing Division of Centricast Enterprises Pvt Ltd (CEPL).In 2005-06, the company has increased the production capacity of Castings by 1800 MT to 18600 MT. In 2006-07, they further increased the production capacity by 50000 MT to 68600 MT. In January 2007, the first phase of EOU division has commenced the trial production at their Greenfield Manufacturing facility at Moraiya in Ahmedabad. In 2008, AIA Engineering Ltd commissioned 1 lakh Mt Grinding Media Plant. From February 2008, PCCL has become a 100% Subsidiary of the company. In 2009, AIA Engineering Ltd started supply to mining companies. In 2011, the company enhanced manufacturing capacity to 2 lakh Mt. In 2013, the company achieved the milestone of 1 lakh Mt in annual sales to mining companies. On 19 January 2016, AIA Engineering announced that it has started commercial production under Phase I of its Greenfield project at GIDC, Kerala in Gujarat. The installed capacity under the first phase is 66,000 metric tonnes (Mt) per year. The company has completed its brownfield expansion of 14,000 Mt per year at its Trichy plant. With this expansion, the total installed capacity of wear parts of the Group will be augmented from 2.6 lakh Mt to 3.4 lakh Mt per year. In 2017, AIA Engineering completed Phase I of GIDC Kerala plant Greenfield project in Gujarat.On 23 May 2017, AIA Engineering informed the stock exchanges that Magotteaux International S.A. Belgium has initiated arbitral proceedings against the company and its managing director Mr. Bhadresh K Shah before the International Chamber of Commerce, London (ICC) and has claimed the reliefs of injunction and damages inter alia alleging infringement of its patent by AIA Engineering in relation to its Sintercast product and breach of the Settlement Deed in relation to its Sintercast product. According to Magotteaux, in its request for initiating Arbitration, the amount in controversy in the arbitral dispute is approximately USD 60 million, including costs and damages. AIA Engineering said it disputes this request and denies the allegations made therein and is confident of successfully defending the matter in accordance with law.

  • Chairman & Independent Directo

    Rajendra S Shah
  • Managing Director

    Bhadresh K Shah
  • Independent Director

    Sanjay S Majmudar
  • Company Secretary

    S N Jetheliya
  • Whole-time Director

    Yashwant M Patel
  • Independent Director

    Dileep C Choksi
  • Director

    Bhumika S Shodhan
  • Director

    Khushali S Solanki
  • Independent Director

    Rajan Ramkrishna Harivallabhdas
  • Addtnl Independent Director

    Janaki Udayan Shah

Registered Office

115 GVMM Estate,
Odhav Road,Ahmedabad,
Gujarat-382410

REGISTRAR OFFICE

C-101 247 Park,
Vikhroli West,Mumbai-400083
INDIA