Refining the New Possibilities.

AIA Engineering Limited 36^th Annual Report 2025-26

Year in Review: 2025-26

Advancing Performance.
Expanding Possibilities.

In F.Y. 2025-26, we demonstrated resilience amid geopolitical disruptions, freight volatility, and evolving global trade dynamics. We sustained strong profitability through rigorous operational discipline, product mix optimisation, and growing adoption of integrated grinding solutions across mining markets. At the same time, we continued to invest in future-ready capabilities.

`4,41,986Lakhs Revenue from Operations
`1,74,426Lakhs EBITDA
39.46% EBITDA Margin
`1,27,016Lakhs PAT
28.74% PAT Margin

During the year, we accelerated our strategic transition towards delivering integrated package solutions combining mill liners, high-chrome grinding media, process optimisation expertise, and application engineering capabilities. Simultaneously, we continued strengthening our global operating network to improve responsiveness, reduce supply-chain risks, and enhance service continuity across key mining geographies.

Integrated Packaging Solutions Approach
Improved Operational Reliability for Customers
Enhanced Throughput and Grinding Efficiency
Focused On the Global Logistics and Distribution Network

10+ Warehouses
3 Manufacturing Clusters
4,36,000TPA Present Installed Capacity
`104Crores Capex Incurred during F.Y. 2025-26

We continued strengthening our long-term sustainability agenda through responsible governance, people development, environmental stewardship, and community engagement. Through these efforts, we are focused on building enduring value for stakeholders while fostering an inclusive, ethical, and future-ready organisation.

37.38MW Renewable Energy Capacity
1,272 Permanent Employees
`2,419.48Lakhs CSR Contribution during the Year
39Years Average Experience of Directors in the Company
4 Independent Directors on the Board

Our Journey

Achieving Milestones.
Driving Progress.

Our evolution reflects a deep understanding of the operational challenges faced by resource-intensive industries and a commitment to delivering measurable outcomes. Through integrated solutions, engineering expertise, and customer-centric innovation, we help customers unlock greater efficiency and value from their grinding operations.

1978

Incorporated by Mr. Bhadresh K. Shah as Ahmedabad Induction Alloys Private Limited (AIA)
1979

Commenced operations and started producing wear parts for cement and power plants
1985

Began production of high-chrome grinding media
1989

Commenced producing high chrome liners, level control diaphragms, and other diaphragms
1991

Amalgamated Ahmedabad Induction Alloys Private Limited with the Company
1996

Received ISO 9001 certification for Quality Management Systems
2003

Incorporated Vega ME as a wholly owned subsidiary
2005

Listed on the Indian stock exchanges
2011

Commissioned a new plant for mining liners and vertical mill parts
2014

Expanded capacity to 2,60,000 MTPA at the Moraiya facility
2017

Commissioned Phase 1 of the Kerala GIDC, a greenfield grinding media production facility near Ahmedabad
2018

Developed mill-lining solutions for mines
2019
- Installed capacity enhancement by 50,000 MTPA at Kerala’s GIDC plant
- Installed 8 wind turbines of 2.1 MW each
2020
- Obtained ISO 14001 certification for environmental management systems
- Received OHSAS 18001 certification for health and safety management systems at our Moraiya and Kerala plants
2022

Installed 2 wind turbines with a total capacity of 5.4 MW
2023
- Added two hybrid projects (2.1 MW windmill + 1.89 MW solar) at Dedan, Gujarat, taking the total renewable energy capacity to 32.28 MW
- Expanded capacity of 50,000 MTPA in castings at Kerala GIDC
2024
- Added group captive hybrid project (3.3-MW windmill + 1.80-MW solar facility) at Amreli, Gujarat, taking the total renewable energy capacity to 37.38 MW
- Added 20,000 MT of casting capacity by de-bottlenecking at Odhav
2025

Established Rubber and Composite Liners Plant at Kerala GIDC
2026

The Company started offering a complete package of tailor-made solutions for SAG Mills and Ball Mills, primarily involving designing and supplying a combination of Mill Liners (Metal, Rubber and Composite Liners), along with a unique New Generation Discharge System

Our Presence

Building Proximity.
Expanding Access.

Wherever the world mines, we are close by. Across the major mining regions, we combine technical depth, customer proximity, and supply-chain agility to deliver reliable solutions. A wide network of manufacturing facilities, warehouses, subsidiaries, and representative offices enables responsive service, operational stability, and enduring customer partnerships.

Supporting this international presence is Vega Industries, our global marketing arm. Through Vega Industries, AIA has earned global recognition as a trusted partner for performance-driven grinding solutions.

120+ Countries Served
130+ Ports Reached

Our Global Advantage

IntegratedGrinding Solutions
DirectMarket Presence
RegionalisedSupply Chain Network
ReliableGlobal Distribution
Customer-centricTechnical Support
ResponsiveAftermarket Service

Subsidiaries and
Representative Offices

USA
Chile
UK
Indonesia
UAE
Ghana
Australia
Peru
South Africa
Netherlands
China
Canada

Disclaimer: The map is a graphical representation intended solely to illustrate the Company’s global presence and operational footprint. It is not drawn to scale and should not be construed as a precise representation of geographical boundaries, jurisdictions, or territorial claims. The locations shown are indicative and presented for informational purposes only.

Our Value Creation Model

Refining Expertise.
Enhancing Outcomes.

The year marked a strategic shift towards integrated packaging solutions, combining mill liners, grinding media, and process optimisation. As a single, outcome-oriented solution partner, we help customers raise throughput and recovery, enhance reliability, and improve operating economics. This is backed by state-of-the-art, automated, ISO-certified manufacturing, precision engineering, operational excellence, and customer-centric innovation.

Message from the Chairman & Managing Director

Refining Performance through
Integrated Solutions

AIA Engineering remains committed to harnessing India’s growth momentum by driving operational excellence, deepening our innovation agenda, and expanding our presence both within the country and in key international markets.

Bhadresh
K. Shah

Chairman & Managing Director, AIA Engineering Limited

Dear Shareholders,

Every year presents opportunities to grow. A few years offer something rarer: the opportunity to redefine how value itself is created.

2025-26 was one such year.

The conversation across the global mining industry is changing. As ore grades decline, energy costs rise, and the demand for critical minerals accelerates, the question is not simply how to extract more. It is how to extract more efficiently, more sustainably, and with greater operational certainty.

These realities are reshaping how mining companies evaluate productivity, technology, and performance. They are also reshaping the role of companies like AIA Engineering

Our market focus continues to be centred on copper, gold, and iron ore mining sectors, with particular emphasis on expanding our footprint in South America, including Chile and Peru.

Financial Fortitude

Refining Performance.
Creating Value.

Despite persistent geopolitical uncertainties, shifting trade dynamics, and supply-chain disruptions, we delivered another year of resilient performance. Grounded in operational discipline, growing mining sector contribution, and our transition towards integrated grinding solutions, we sustained strong profitability while investing in future growth and manufacturing capabilities.

Environmental Stewardship

Refining Practices.
Strengthening Sustainability.

Sustainability is integral to how we design, manufacture, and deliver value. Our environmental stewardship prioritises resource efficiency, reducing emissions, increasing renewable energy adoption, water conservation, and advancing circularity across our operations. Through responsible manufacturing practices and ongoing process improvements, we aim to build long-term value while minimising our environmental footprint.

Community Engagement

Strengthening Communities.
Enriching Lives.

At AIA Engineering, we measure progress by more than business results. Across education, healthcare, environmental stewardship, cultural preservation, and social welfare, we work with trusted partners to strengthen communities and improve livelihoods. Through collaborative programmes and targeted interventions, we support access to essential services, foster individual potential, and promote community development. Our aim is to create inclusive opportunities and lasting social impact.

Case Study

Refining Solutions.
Crafting Customer Success.

Plant Capacity

19 MTPA

Ore

COPPER

Business
Responsibility
and Sustainability Report

Annexure- C to the Board's Report

Refining the New Possibilities.

AIA Engineering Limited 36^th Annual Report 2025-26

Advancing Performance.
Expanding Possibilities.

Achieving Milestones.
Driving Progress.