Anup Engineering Ltd. (ANUP) AI Stock Analysis

• Market Cap: ₹47.51B
• Dividend Yield: 0.71%
• Average Volume (3M): 5.89K
• Price to Earnings (P/E): 39.4
• Beta (1Y): 0.63
• Revenue Growth: 33.36%
• EPS Growth: 9.67%
• Country: IN
• Employees: 243
• Sector: Services
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): 13.10
• Shares Outstanding: 20,026,466
• 10 Day Avg. Volume: 3,532
• 30 Day Avg. Volume: 5,891
• PEG Ratio: 3.51
• Price to Book (P/B): 11.11
• Price to Sales (P/S): 9.28
• P/FCF Ratio: -131.33
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹2,574.00
• Price Target Upside: 7.98% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 67 Neutral
• Price Target: ₹2,574.00 ▲(7.98% Upside)

Anup Engineering Ltd. has a strong financial foundation with robust revenue growth and profitability. However, cash flow management issues and a high P/E ratio suggest potential risks. Technical indicators point to bearish momentum, which may affect short-term performance.

Anup Engineering Ltd. Business Overview & Revenue Model

Company Description

The Anup Engineering Limited, together with its subsidiaries, manufactures and fabricates process equipment for chemicals, petrochemicals, pharmaceuticals, fertilizers, drugs, oil and gas, power, pulp and paper, water, aerospace, LNG, and other industries in India. The company provides static process equipment, including heat exchangers, reactors, pressure vessels, columns and towers, and custom fabrication products; technology products; dished ends; and industrial centrifuges, as well as pre-fabrication engineering services for static process equipment to its customers. 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 incorporated in 2017 and is based in Ahmedabad, India.

How the Company Makes Money

Anup Engineering Ltd. makes money by manufacturing and selling custom-engineered process equipment to its clients in various industries. The company's revenue model is primarily based on project-based contracts, where it designs, fabricates, and delivers equipment according to client specifications. Key revenue streams include sales of heat exchangers, pressure vessels, and reactors, among other specialized products. ANUP's earnings are further supported by its strong relationships with major industrial players and its reputation for delivering high-quality, reliable equipment. Additionally, the company's focus on innovation and adherence to international quality standards contribute to its competitive advantage and revenue generation.

Anup Engineering Ltd. Financial Statement Overview

Summary

Anup Engineering Ltd. shows strong revenue growth and profitability with a solid balance sheet. However, cash flow management issues, such as negative operating and free cash flow, need attention to maintain liquidity and support growth.

Income Statement

Anup Engineering Ltd. demonstrates strong revenue growth with a remarkable increase from 2020 to 2025. The gross profit margin has improved consistently, reaching 45.7% in 2025. The net profit margin is robust at 16.1% for 2025, indicating effective cost management. EBIT and EBITDA margins are healthy, reflecting operational efficiency. Overall, the company shows excellent revenue growth and profitability, but there is a need to maintain this trajectory to safeguard against future market fluctuations.

Balance Sheet

The company's balance sheet is solid with a low debt-to-equity ratio, showing prudent financial management. The equity ratio is strong at 66.1% in 2025, indicating a healthy capital structure. Return on equity is notable, evidencing efficient use of shareholder funds. However, the increase in total liabilities warrants careful monitoring to ensure sustained financial stability.

Cash Flow

Cash flow from operating activities has been volatile, with a negative operating cash flow in 2025. The free cash flow has also turned negative, suggesting potential cash management challenges. The operating cash flow to net income ratio is concerning, indicating that earnings are not effectively converting to cash. Attention to cash flow management is crucial to improve liquidity and support ongoing growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.62B	7.33B	5.50B	4.11B	2.80B	2.73B
Gross Profit	3.44B	3.35B	2.17B	1.90B	1.29B	1.16B
EBITDA	1.76B	1.65B	1.35B	851.02M	735.95M	731.78M
Net Income	1.21B	1.18B	1.03B	514.30M	620.54M	535.23M
Balance Sheet
Total Assets	0.00	9.26B	8.08B	6.43B	5.25B	4.31B
Cash, Cash Equivalents and Short-Term Investments	240.93M	263.13M	1.22B	327.78M	498.86M	208.69M
Total Debt	0.00	324.18M	202.80M	343.40M	0.00	0.00
Total Liabilities	-6.12B	3.14B	2.80B	2.05B	1.32B	935.73M
Stockholders Equity	6.12B	6.12B	5.28B	4.38B	3.93B	3.37B
Cash Flow
Free Cash Flow	0.00	-517.72M	1.26B	-449.01M	324.91M	127.00M
Operating Cash Flow	0.00	-71.53M	1.69B	300.17M	740.43M	529.81M
Investing Cash Flow	0.00	219.08M	-1.53B	-333.84M	-613.45M	-119.16M
Financing Cash Flow	0.00	-304.78M	-302.21M	249.60M	-70.72M	-380.18M

Anup Engineering Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2383.85
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ANUP, the sentiment is Positive. The current price of 2383.85 is below the 20-day moving average (MA) of 2387.86, above the 50-day MA of 2329.26, and below the 200-day MA of 2787.95, indicating a neutral trend. The MACD of 1.33 indicates Positive momentum. The RSI at 51.53 is Neutral, neither overbought nor oversold. The STOCH value of 29.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ANUP.

Anup Engineering Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JKIL	74 Outperform	₹46.81B	11.48	―	0.64%	17.23%	18.23%
AHLUCONT	69 Neutral	₹63.32B	28.43	―	0.06%	4.32%	-37.38%
ANUP	67 Neutral	₹47.51B	39.40	―	0.71%	33.36%	9.67%
ITDC	61 Neutral	₹53.68B	67.31	―	0.48%	18.45%	24.02%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
QUESS	55 Neutral	₹35.50B	27.60	―	4.29%	-7.67%	-61.64%
TARC	49 Neutral	₹42.80B	―	―	―	389.75%	-27.41%

Anup Engineering Ltd. Corporate Events

Anup Engineering Ltd. Schedules Investor Meetings to Enhance Market Engagement

Anup Engineering Ltd. has announced a schedule for meetings with institutional investors and analysts, set to take place on July 2, 2025, in Chennai. These interactions, involving major investors like Sundaram Mutual Fund and Franklin Templeton Mutual Fund, aim to strengthen investor relations without disclosing any unpublished price-sensitive information, potentially enhancing the company’s market positioning and stakeholder engagement.