The Anup Engineering logo

The Anup Engineering

ANUP NSE

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods
Market Cap
₹3,405 Cr
Volatility
Low Risk
P/E Ratio
39.37
EBITDA
₹177 Cr
Return on Equity
15.98%
Debt to Equity
0.16
Book Value
₹344.96
EPS
₹36.97
52W High
₹2,576
52W Low
₹1,422.3

Tapetide Score

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

Key Insights

Weaknesses

1
  • Company has high debtors of 185 days.

Growth Rate

Revenue Growth
11.86% lower than 3Y
Net Income Growth
-6.68% lower than 3Y
Cash Flow Change
130% higher than 3Y
ROE
-17.33% lower than 3Y
ROCE
-12.97% lower than 3Y
EBITDA Margin (Avg.)
-6.93% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
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 8
  • 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
  • PE ratio of 42x is expensive for a company delivering negative TTM profit growth, leaving limited margin of safety
  • 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

Anthropic anthropic claude-opus-4.6 69d ago
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.

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.

Quarterly Results

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
26.83
24.99
29.2
29.09
37.93
32.8
43.39
35.28
43.02
32.27
28.73
0.94
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 in Rs
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
Figures in ₹ Crores

Profit & Loss

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 in Rs
21.06
27.17
31.34
25.97
59.07
55.11
42.27
Div. Payout %
17%
13%
13%
29%
29%
22%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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/OP
74
93
82
51
13
19
Figures in ₹ Crores

Ratios

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

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63 extracted metrics + investor summaries across FY03–FY27.

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Shareholding Pattern

FIIs2.88%Promot.40.92%Others7.59%DIIs16.52%Public32.08%As ofJun 2026

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. [1]. It manufactures Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges and Formed Components. [2] The company's products are used in wide range of process industries includin...
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 market capitalisation of The Anup Engineering Ltd?
The Anup Engineering Ltd has a market capitalisation of ₹3,405 Cr, which places it in the Small Cap band.
What is the PE ratio of The Anup Engineering Ltd?
The Anup Engineering Ltd trades at a PE ratio of 39.37, on earnings per share of ₹36.97, 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 ₹1,422.3 and ₹2,576.
Does The Anup Engineering Ltd pay dividends?
The Anup Engineering Ltd has a dividend yield of 0.70%.
What is the Return on Equity (ROE) of The Anup Engineering Ltd?
The Anup Engineering Ltd reported a return on equity of 15.98%. Its debt-to-equity ratio is 0.16.

Company Information

The Anup Engineering Limited demerged from its holding company Arvind Limited in 2018. [1]. It manufactures Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges and Formed Components. [2] 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. [2] [3]

Website anupengg.com
CEO Mr. Reginaldo Dsouza
Employees 309
Listed 2019-03-01
Face Value ₹ 10
Issued Size 2,00,31,466

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