The small-cap engineering company’s share started its trading session in green after announcing strong June-September results.
With a market capitalization of Rs 1994 cr, the shares of Anup Engineering Ltd started its Monday trading session on a higher note. The share opened at the Rs. 2,180 level and went to an intraday of Rs 2.560 making a gain of 16 percent. The company’s shares closed its trading session at Rs 2,2442 apiece.
Such positive momentum in the stock was observed after the company announced its Q2 FY24 results. The revenue of the company has increased by 11 percent from Rs 125.21 cr during the June quarter to Rs 139.85 cr in the September quarter. In addition to this, the net profit increased by 16 percent from Rs. 18.74 cr to Rs. 22.42 cr keeping the same timeframe.
Comparing these metrics YoY basis, the revenue increased by 38 percent from Rs 101 during Q2 FY23 cr to Rs 139.8 cr during Q2 FY24, and the net profit accelerated by 64 percent from Rs 12.9 cr to Rs 21.7 cr during the same period.
Preponement of Capex of INR 15 crore approx is planned in FY24 for the extension of PS Bay at Kheda, which will be commissioned in Q1 FY25. This will provide 2 complete bays for manufacturing at Kheda.
Coming to the important financial ratios, the return on equity was 12.41 percent during FY 23-24 and the return on capital employed was at 16.77 percent during the same period.
According to the latest shareholding pattern, Promoters have a 42.91 percent stake in the company, the Public ( Retail Investors) hold 44.53 percent shares, the company has a high DII holding of 11.43 percent and the remaining 1.13 percent is with FIIs.
The Anup Engineering Limited caters to a wide range of process industries including Oil and Gas, Petrochemicals, LNG, Hydrogen, Fertilizers, Chemicals/ Pharmaceuticals, Power, Water, Paper & Pulp, and Aerospace with its extensive product range of Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges & Formed Components.
Written By Vaibhav Patil
