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The Anup Engineering

ANUP NSE
₹1,386.20 +25.70 (+1.89%)
P/E
32.79
View as Markdown
MCP
Close 4 Nov 2026 ₹1,386.20 −907.70 −39.6% 1Y
Start ₹2,293.90

Key Fundamentals

MicrocapIndustrial ManufacturingCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
21.00%
Debt to Equity
0.16
EPS (TTM)
₹42.27
Book Value
₹344.96
Market Cap
—
P/E (TTM)
32.79
P/B
4.02
ROE
17.10%
Dividend Yield
0.88%
EBITDA
₹177 Cr
52W High
₹2,479.90
52W Low
₹1,301.00
Day Range
₹1,342.70 – ₹1,398.00
Volume
19,817

Peer Comparison

Industrials › Capital Goods › Industrial Products

The Anup Engineering peer comparison
Indo-MIM
₹1,240.10106.91₹59,516 Cr18.470.55%23.40%25.00%₹3,482 Cr₹562 Cr
Aditya Infotech
₹3,999.8098.59₹46,234 Cr14.530.04%25.40%28.60%₹4,883 Cr₹477 Cr
Syrma SGS
₹1,512.6079.19₹28,543 Cr9.590.10%14.00%16.80%₹5,464 Cr₹401 Cr
Honeywell Automation
₹29,810.0047.82₹25,976 Cr5.650.38%12.60%17.00%₹4,703 Cr₹552 Cr
Jyoti CNC Automation
₹1,034.9573.19₹22,990 Cr11.010.00%18.20%21.30%₹2,191 Cr₹323 Cr
Kaynes Technology India
₹3,330.0064.57₹21,957 Cr4.710.00%8.69%12.70%₹3,899 Cr₹345 Cr
LMW
₹17,358.00106.09₹18,108 Cr6.100.21%4.05%5.58%₹3,374 Cr₹176 Cr
The Anup Engineering (this company)
₹1,386.2032.79₹2,744 Cr4.020.88%17.10%21.00%₹772 Cr₹85 Cr
Median 8 companies₹2,421.3076.19₹24,483 Cr7.850.16%15.55%19.00%₹3,690 Cr₹373 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

45 Average

Data confidence 98/100

Category scores

Quality
47
Average
Returns, margins, earnings quality 22% weight
Valuation
42
Weak
Cheap vs sector & own history 24% weight
Growth
24
Poor
Sales & profit trajectory 9% weight
Financial Health
76
Strong
Solvency, leverage, coverage 9% weight
Momentum
13
Poor
Trend strength, vol-adjusted 12% weight
Ownership
62
Good
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

1
  • Company has high debtors of 185 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1054
OscillatorsNeutral252
Moving AveragesStrong Bearish802

Key readings

RSI (14)
38.41
Neutral
MACD (12,26,9)
−73.58
Bullish
SMA (50)
1,585.92
Bearish
SMA (200)
1,849.46
Bearish

As of

Analyst Rating

Based on 2 analysts
TIED50%

1 of 2 analysts rate Buy, 0 Hold, 1 Sell.

As of

BUY
1
50%
HOLD
0
0%
SELL
1
50%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+24.12%
3Y+25.99%
1Y+12.14%
TTM+1.38%

Net profit

Net profit growth by window
5Y+15.29%
3Y+29.20%
1Y−6.78%
TTM−29.74%

Operating cash flow

Operating cash flow growth by window
5Y−48.08%
3Y−59.45%
1YTurned positive
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−3.56 pp
3Y+1.09 pp
1Y−1.39 pp
TTM−4.07 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2020₹245 Cr
Mar 2021₹279 Cr
Mar 2022₹288 Cr
Mar 2023₹411 Cr
Mar 2025₹733 Cr
Mar 2026₹822 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2020₹43.00 Cr
Mar 2021₹54.00 Cr
Mar 2022₹62.00 Cr
Mar 2023₹51.00 Cr
Mar 2025₹118 Cr
Mar 2026₹110 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹121 Cr −31.8% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk medium

The Anup Engineering Ltd is a mid-cap industrial process equipment manufacturer trading at a PE of 42x with a market cap of ~₹4,559 crore. The company delivered 26% compounded sales growth over 3 years (FY22-FY25 revenue rising from ~₹288 crore to ~₹733 crore), but TTM profit growth has turned negative at -4% and the stock has declined 16% over the past year.

Bull Case 7
  • Strong 3-year compounded sales CAGR of 26% with FY25 revenue at ~₹733 crore vs ₹411 crore in FY23, demonstrating sustained topline momentum
  • Robust order book of ~₹750-770 crore providing revenue visibility for FY26-FY27, with management guiding for 25%+ revenue growth in FY26
  • Kheda Phase-2(A) plant commissioned in Q2 FY26, expected to add ₹150-200 crore in incremental annual revenue once fully operational
  • 3-year compounded profit CAGR of 29% reflects strong earnings growth trajectory over the medium term
  • Operating margins stable at ~23% in Q1 FY26, marginally improving from 22.6% YoY, indicating pricing discipline in a competitive market
  • 5-year stock CAGR of 39% demonstrates long-term wealth creation track record despite recent correction
  • Multi-plant diversification across Ahmedabad (₹540 crore), Kheda (₹239 crore), and Mabel (₹43 crore) reduces single-facility concentration risk
Bear Case 7
  • TTM profit growth has turned negative at -4%, with Q4 FY26 net profit declining 15.85% YoY to ₹26.54 crore indicating near-term earnings pressure
  • Elevated debtor days of 185 days signals significant working capital strain and potential collection risks in a capital goods business
  • Stock has declined 16% over the past year, underperforming the broader market and reflecting investor concern over slowing growth
  • Q3 FY26 revenue fell 11.15% QoQ to ₹171.6 crore and operating profit declined 22.9% YoY in Q4 FY26, showing lumpy quarterly execution
  • Dividend yield of only 0.73% offers minimal income cushion during periods of capital depreciation
  • Price-to-book of 6.72x is elevated for a capital goods manufacturer, pricing in significant future growth that must materialize
  • ROE of 17% (last year) while reasonable is not exceptional relative to the premium valuation the market assigns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: Recent news flow for Anup Engineering is entirely routine investor engagement activity with no material business updates, order wins, or risk events. The company is actively conducting roadshows domestically and internationally, suggesting management focus on maintaining institutional visibility. No headwinds or positive catalysts have emerged in this period. Investors should watch for upcoming quarterly results or order inflow announcements for directional cues.

Neutral 3
  • Analyst meet with Toro Wealth Jul 1

    Anup Engineering scheduled a virtual one-on-one meeting with Toro Wealth Managers LLP on July 6, 2026. No unpublished price sensitive information to be shared.

  • Non-Deal Roadshow in Singapore Jun 20

    Management to conduct one-on-one and group meetings in Singapore on June 26, 2026, without sharing UPSI. Signals continued international investor outreach.

  • Investor meet in Mumbai Jun 10

    Anup Engineering scheduled an investor interaction in Mumbai on June 15, 2026, via one-on-one and group meetings.

Quarterly Results

₹ Cr
ANUP quarterly results, ₹ crore
Particulars Dec 2022Mar 2023Jun 2023Sep 2023Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
114
144
125
140
146
193
172
222
175
232
207
208
125
Expenses
91.78
114
97.2
108
113
150
133
172
135
181
163
170
116
Operating Profit
22.64
30.19
28.01
31.36
33.01
43.34
39.05
49.61
40.35
51.47
44.09
38.24
9.47
OPM %
19.79%
20.94%
22.37%
22.42%
22.61%
22.44%
22.74%
22.38%
23.03%
22.16%
21.31%
18.4%
7.56%
Other Income
0.16
0.46
0.49
1.56
2.56
1.42
0.67
0.69
2.33
0.36
−1.26
0.25
0.52
Interest
0.51
0.31
0.04
0.16
1.01
0.95
0.74
0.63
0.87
2.1
3.51
2.21
1.62
Depreciation
3.16
3.51
3.47
3.56
5.47
5.88
6.18
6.28
6.53
6.71
7.05
7.55
7.43
PBT
19.13
26.82
24.99
29.2
29.09
37.93
32.8
43.39
35.28
43.02
32.27
28.73
0.93
Tax %
27.44%
27.43%
25.69%
25.62%
17.43%
14.24%
7.9%
27.31%
25.57%
25.5%
20.89%
7.59%
38.3%
Net Profit
13.88
19.47
18.56
21.72
24.02
32.53
30.21
31.54
26.26
32.05
25.53
26.54
0.57
EPS (₹)
7.01
9.83
9.37
10.97
12.07
16.26
15.09
15.75
13.11
16
12.74
13.25
0.28

Profit & Loss

₹ Cr
ANUP profit and loss, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026TTM
Sales
245
279
288
411
733
822
772
Expenses
176
209
217
327
565
646
629
Operating Profit
70
70
71
84
168
177
143
OPM %
28%
25%
25%
20%
23%
21%
19%
Other Income
4
3
4
1
5
2
0
Interest
2
2
2
3
6
11
9
Depreciation
9
11
12
13
24
28
29
PBT
63
61
61
70
143
139
105
Tax %
32%
13%
−2%
27%
17%
21%
—
Net Profit
43
54
62
51
118
110
85
EPS (₹)
21.06
27.17
31.34
25.97
59.07
55.11
42.27
Div. Payout %
17%
13%
13%
29%
29%
22%
—

Balance Sheet

₹ Cr
ANUP balance sheet, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Equity Capital
10
10
10
10
20
20
Reserves
313
327
384
428
592
671
Borrowings
0
0
0
34
32
110
Other Liabilities
99
94
132
171
282
170
Total Liabilities
422
431
525
643
926
971
Fixed Assets
171
212
203
217
363
398
CWIP
12
2
31
87
10
2
Investments
44
0
0
0
11
0
Other Assets
194
217
292
338
543
571
Total Assets
422
431
525
643
926
971

Cash Flow

₹ Cr
ANUP cash flow, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Operating
32
53
74
30
−7
2
Investing
−15
−12
−61
−33
22
−36
Financing
−16
−38
−7
25
−30
36
Net Cash Flow
1
3
6
22
−15
2
Free Cash Flow
14
13
33
−45
−51
−51
CFO/EBITDA
74
93
82
51
13
19

Ratios

ANUP financial ratios, annual
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2025Mar 2026
Debtor Days
96
144
158
132
141
185
Inventory Days
351
165
235
209
135
94
Days Payable
77
66
113
108
81
79
Cash Conversion Cycle
370
242
280
232
195
199
Working Capital Days
158
146
137
123
116
144
ROCE %
—
19%
17%
17%
—
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view The Anup Engineering insights

70 extracted metrics across FY03–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 40.92%
  • Public 31.83%
  • DIIs 16.84%
  • Others 7.57%
  • FIIs 2.84%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about The Anup Engineering

What does The Anup Engineering Ltd do?
The Anup Engineering Limited demerged from its holding company Arvind Limited in 2018. It manufactures Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges and Formed Components.
Where is The Anup Engineering Ltd (ANUP) listed?
The Anup Engineering Ltd trades as ANUP on the NSE and under code 542460 on the BSE.
Which sector does The Anup Engineering Ltd belong to?
The Anup Engineering Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the PE ratio of The Anup Engineering Ltd?
The Anup Engineering Ltd trades at a PE ratio of 32.79 as of 4 Nov 2026, on earnings per share of ₹42.27, against a book value of ₹344.96 per share.
What is the 52-week high and low of The Anup Engineering Ltd?
Over the last 52 weeks The Anup Engineering Ltd has traded between ₹1,301 and ₹2,479.9 as of 4 Nov 2026.
Does The Anup Engineering Ltd pay dividends?
The Anup Engineering Ltd has a dividend yield of 0.88%.
What is the Return on Equity (ROE) of The Anup Engineering Ltd?
The Anup Engineering Ltd reported a return on equity of 17.10%. Its debt-to-equity ratio is 0.16.

Company Information

The Anup Engineering Limited demerged from its holding company Arvind Limited in 2018. It manufactures Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges and Formed Components. The company's products are used in wide range of process industries including Oil & Gas, Petrochemicals, LNG, Fertilizers, Chemicals, Pharmaceuticals, Power, Water, Paper & Pulp and Aerospace.

Website anupengg.com
CEO Mr. Reginaldo Dsouza
Employees 309
Listed 1 Mar 2019
Face Value ₹10

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