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Shares of this small-cap company dealing in industrial products jumped approximately 2 percent in Wednesday’s trading session after the company’s Board of Directors, in their meeting, fixed the Record Date for the issuance of Bonus shares in the ratio of ‘1:1’. In the last six months, the company’s stock gained close to 65 percent for its holders. 

With a market capitalization of Rs 3,190.87 crores, the stocks of Anup Engineering Limited started their trading session on Wednesday at Rs 3,233.40 and currently trades at Rs 3,206.75, gaining around 2 percent compared to the previous close of Rs 3,149.50 apiece. 

Such bullish share price movements are witnessed today after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about fixing “Tuesday, 23rd April 2024” as the record date for determining the eligibility for allotment of ‘Bonus’ equity shares in the ratio of ‘1: 1’. 

The same means issuance of one new fully paid-up equity share of Rs 10 each for every one fully paid-up equity share of Rs 10 each held by the existing members of the company.

The company’s Bonus Issue is subject to the approval of company members at the Extra Ordinary General Meeting (EGM) scheduled on 12th April 2024. 

During the recent financial quarters, the company’s financial parameters, including its operating revenues as well as after-tax profits, witnessed a dip in numbers with the former reducing from Rs 140 crores during Q2FY24 to Rs 128 crores during Q3FY24, and the latter, keeping the timeframe the same, slipped marginally from Rs 22 crores to Rs 20 crores. 

According to the latest presentations, the company’s outstanding order book, as of December 2023, stands at Rs 814 crores, and also expects the same to grow at a rate of around 30 percent.

Moreover, the company also expects its capacity to increase to 16,000 metric tonnes (MT) with a new manufacturing bay extension at Kheda. 

Keeping a purview of the last one year, the company’s stock has delivered multibagger returns of approximately 200 percent to its stakeholders, i.e., if someone had invested Rs 1 lakh in the company’s stock a year ago, it would have converted to Rs 3 lakhs. 

Incorporated in 2017, Anup Engineering Limited is engaged in the business of manufacturing as well as fabricating process equipment for various industries including petrochemicals, fertilizers, power, water, pharma, and aerospace industries in India.

Written by Amit Madnani 

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