Shares of this smallcap company surged 15 percent in Monday’s trading session after reporting an increase in net profits by 121 percent YoY. The shares have delivered a multibagger return of 257 percent in one year to its shareholders.
With a market capitalization of Rs. 4,127 crores, the shares of Anup Engineering Ltd started Monday’s trading session on a higher note at Rs. 2,030 compared to its previous close of Rs. 1,836.30. During the trading session, the shares hit a high of Rs. 2,185, gaining around 15 percent and are currently trading at Rs. 2,071 apiece.
Such a bullish movement in the share price was observed after the company announced quarterly and financial year ended 31st March 2024 results. The revenue increased by 22 percent from Rs. 128.40 crores during the December quarter to Rs. 156.92 crores in the March quarter. In addition, the net profits zoomed by 113 percent from Rs. 20.16 crores to Rs. 43.02 crores during the same period.
Comparing these metrics on a YoY basis, the revenue improved by 9 percent from Rs. 144.17 percent during Q4FY23 to Rs. 156.92 crores in Q4FY24. On the other hand, the net profits magnified by 121 percent from Rs. 19.46 crores to Rs. 43.02 crores during the same timeframe.
As of March 31, 2024, the company’s order book stood at Rs. 854.2 crores. Approximately 67 percent of these orders were allocated for Heat Exchanger products, while the remaining 33 percent were designated for various other products, including Tower and Reactor, Vessels, and Centrifuges. This indicates a diversified portfolio catering to multiple segments within the industrial equipment market.
Furthermore, the Board of Directors of the company has recommended a final dividend of Rs. 15 per equity share and a one-time special dividend of Rs. 5 per equity share, totalling a dividend of Rs. 20 per equity share of face value of Rs. 10 each, for the financial year ended March 31, 2024.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 13.06 percent and a return on capital employed (RoCE) of 18.10 percent for the period spanning FY22-23. Additionally, the net profit margin during the same timeframe was 13.28 percent.
Headquartered in Ahmedabad, Anup Engineering was incorporated in 2017. The company manufactures Heat Exchangers, Reactors, Pressure Vessels, Columns and Towers, Industrial Centrifuges and Formed Components. The company’s products are used in a wide range of process industries including Oil & Gas, Petrochemicals, LNG, Fertilizers, Chemicals, Pharmaceuticals, Power, Water, Paper & Pulp and Aerospace.
Written By Vaibhav Patil
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