The Anup Engineering Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,730 Cr
- P/E
- 31.82
- ROE
- 17.10%
- PEG
- 1.07
- Price to sales
- 3.54
- Debt to equity
- 0.16
- 52W high / low
- ₹2,450 / ₹1,327
- Sales growth (5Y)
- 24.12%
- EBITDA margin
- 18.55%
- Net profit margin
- 13.55%
- Promoter holding
- 40.92%
- Sales (last year)
- ₹772 Cr
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]
Guidance scorecard · Q1 FY27 call
What The Anup Engineering Ltd's management guided
and where it ranks in Industrial Manufacturing
Industrial Manufacturing
RevenueQ1 FY27 call
0–10%- Order intake expected at INR 200-250 crores per quarter, supported by strong inquiry pipeline (~INR 1,100 crores).
- New order book at best-ever levels (INR 985 crores), indicating robust future demand.
- Revenue recognition to pick up in Q2, with highest revenue and EBITDA margins expected in Q3 and Q4.
- FY27 guidance: consolidated revenue growth of 5-10% with ~15% EBITDA margin, focusing on profit and project delivery balance.
- Diversification into niche segments (nuclear, hydrogen, green fertilizer, AI data center cooling) targeted for long-term growth (~3 years).
- Expansion in technical services vertical projected to grow from INR 25 crores (FY27) to INR 200 crores in 3 years, enhancing margins.
2 more points from The Anup Engineering Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what The Anup Engineering Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- The company has fully operationalized its larger facility at Kheda, enabling the manufacturing and supply of large volume and complex equipment, indicating ongoing capital investment in capacity expansion.
- There is a strategic focus on moving into niche product segments, including critical proprietary licensed products, which may involve strategic and capital investments in technology and capabilities.
- Diversification efforts include investments towards new sectors such as nuclear, hydrogen, green fertilizer, and AI data center cooling systems, reflecting long-term strategic investments.
- The company aims to gradually build the technical services vertical, targeting INR25 crores revenue this year and scaling up in subsequent years, implying investment in organizational and service capabilities.
FundraisingQ1 FY27 call
See what The Anup Engineering Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- As of the call, the pending order book stands at INR 985 crores, close to INR 1,000 crores.
- New orders booked in the current financial year (April to date) amount to INR 538 crores.
- Around INR 240 crores of orders are already booked for next year's Q1.
- Inquiry pipeline is strong at approximately INR 1,100 crores, signaling future opportunities.
2 more points from The Anup Engineering Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of The Anup Engineering Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of The Anup Engineering Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 101 | 114 | 144 | 125 | 140 | 146 | 193 | 172 | 222 | 175 | 232 | 207 | 208 |
| Expenses + | 80 | 92 | 114 | 97 | 108 | 113 | 150 | 133 | 172 | 135 | 181 | 163 | 170 |
| Operating Profit | 20 | 23 | 30 | 28 | 31 | 33 | 43 | 39 | 50 | 40 | 51 | 44 | 38 |
| OPM % | 20% | 20% | 21% | 22% | 22% | 23% | 22% | 23% | 22% | 23% | 22% | 21% | 18% |
| Other Income + | 0 | 0 | 0 | 0 | 2 | 3 | 1 | 1 | 1 | 2 | 0 | -1 | 0 |
| Interest | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 4 | 2 |
| Depreciation | 3 | 3 | 4 | 3 | 4 | 5 | 6 | 6 | 6 | 7 | 7 | 7 | 8 |
| Profit before tax | 18 | 19 | 27 | 25 | 29 | 29 | 38 | 33 | 43 | 35 | 43 | 32 | 29 |
| Tax % | 26% | 27% | 27% | 26% | 26% | 17% | 14% | 8% | 27% | 26% | 26% | 21% | 8% |
| Net Profit + | 13 | 14 | 19 | 19 | 22 | 24 | 33 | 30 | 32 | 26 | 32 | 26 | 27 |
| EPS in Rs | 6.53 | 7.01 | 9.83 | 9.37 | 10.97 | 12.07 | 16.26 | 15.09 | 15.75 | 13.11 | 16.00 | 12.74 | 13.25 |
Financials of The Anup Engineering Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 245 | 279 | 288 | 411 | 733 | 822 |
| Expenses + | 176 | 209 | 217 | 327 | 565 | 648 |
| Operating Profit | 70 | 70 | 71 | 84 | 168 | 174 |
| OPM % | 28% | 25% | 25% | 20% | 23% | 21% |
| Other Income + | 4 | 3 | 4 | 1 | 5 | 2 |
| Interest | 2 | 2 | 2 | 3 | 6 | 9 |
| Depreciation | 9 | 11 | 12 | 13 | 24 | 28 |
| Profit before tax | 63 | 61 | 61 | 70 | 143 | 139 |
| Tax % | 32% | 13% | -2% | 27% | 17% | 21% |
| Net Profit + | 43 | 54 | 62 | 51 | 118 | 110 |
| EPS in Rs | 21.06 | 27.17 | 31.34 | 25.97 | 59.07 | 55.11 |
| Dividend Payout % | 17% | 13% | 13% | 29% | 29% | 22% |
Financials of The Anup Engineering Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 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 |
Financials of The Anup Engineering Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 32 | 53 | 74 | 30 | -7 | |
| Cash from Investing Activity + | -15 | -12 | -61 | -33 | 22 | |
| Cash from Financing Activity + | -16 | -38 | -7 | 25 | -30 | |
| Net Cash Flow | 1 | 3 | 6 | 22 | -15 | |
| Free Cash Flow | 14 | 13 | 33 | -45 | -51 | |
| CFO/OP | 74% | 93% | 82% | 51% | 13% |
Financials of The Anup Engineering Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2025 | Mar 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% |
Guidance history
How The Anup Engineering Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 0–10% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | — | None planned | Rising |
| Q3 FY26 call → | 10–20% | Flat | None planned | — | Flat |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
3 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −40.8% | 11% |
| Last 6 months | −33.9% | 5% |
| Last 3 months | −36.8% | 1% |
The price is 63.5% below its all-time high of ₹3,728.5 (13 Dec 2024). Stocks more than 20% below their peak have their score halved, so 6 became 3.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For The Anup Engineering Ltd: 0.4 × 11 + 0.4 × 5 + 0.2 × 1 = 6, halved to 3 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What The Anup Engineering Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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