Anup Engineering
Stock Snapshot
Price Performance
Vista Outlook
Basis of our Recommendation
Anup Engineering is navigating a transitional phase with a strategic pivot towards high-value engineering segments, evidenced by a record order booking of ₹315 Cr, which enhances revenue visibility for the next 12-24 months. Management's focus on diversifying into nuclear and thermal energy sectors is expected to drive long-term growth, despite facing external challenges such as supply chain constraints and geopolitical volatility. Vista's financial outlook reflects a cautious stance, anticipating revenue contraction and margin pressure, yet the robust order book and inquiry pipeline provide a foundation for future performance. The company's disciplined approach to order selection prioritizes profitability over aggressive growth, aligning with Vista's forecast of fair valuation and expected downside. Industry dynamics, including improving pricing power and stable demand, support Anup's positioning, although potential margin pressures and geopolitical risks remain watchpoints. Over the next 12-24 months, key opportunities lie in the technical services vertical and high-margin product diversification, while headwinds include input cost volatility and execution risks related to material availability
Why We Like This Stock
- Record order booking of ₹315 Cr enhances revenue visibility for the next 12-24 months
- Successful diversification into nuclear and thermal energy sectors is expected to drive long-term growth
- The technical services vertical is projected to generate significant margins and revenue growth
Things To Watch Out For
- Revenue is expected to contract over the forecast period due to cautious order selection
- Margin pressures are anticipated from input cost volatility and geopolitical uncertainties
- Execution risks related to material availability may impact operational performance
Key Parameters
Financial Snapshot
View Technicals Analysis →| Actuals | Forecast | ||||
|---|---|---|---|---|---|
| FY24 | FY25 | FY26 | FY27 | FY28 | |
| Revenue (Cr.) | 550 | 708 | 789 | 609 | 618 |
| Profit Before Tax (Cr.) | 111 | 138 | 137 | 81 | 88 |
| PBT Margin | 20.2% | 19.4% | 17.4% | 13.2% | 14.3% |
| Net Profit (Cr.) | 85 | 109 | 109 | 64 | 70 |
| Earnings Per Share | 42.5 | 54.3 | 54.4 | 31.8 | 34.8 |
Analyst Recommendations
| Broker | Recommendation | Target Price | Date |
|---|---|---|---|
| ICICI Securities | ► Hold | 2,065 | 29-May-2026 |
Company Overview
Show Company Profile
The Anup Engineering Limited, together with its subsidiaries, provides engineering products in India and internationally. The company is also involved in manufacturing and fabrication of process equipment. In addition, it offers static process equipment, including heat exchangers, reactors, pressure vessels, columns and towers, and custom fabrication products; technology products, such as helix changers, EMBaffle heat exchangers, and polymerization reactors; and industrial centrifuges, as well as pre-fabrication engineering services for static process equipment. The company serves oil and gas, petrochemicals, LNG, fertilisers, chemicals, power, hydrogen, water, paper and pulp, aerospace, and other industries. It also exports its products. The company was formerly known as Anveshan Heavy Engineering Limited and changed its name to The Anup Engineering Limited in January 2019. The Anup Engineering Limited was founded in 1962 and is based in Ahmedabad, India.