Anup Engineering Ltd. (IN:ANUP)
:ANUP
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Anup Engineering Ltd.
(ANUP)
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Rating:59Neutral
Price Target:
₹2,032.00
▼(-13.18% Downside)
Action:Downgraded
Date:05/29/26
The score is driven primarily by financial performance: strong revenue growth and a generally solid balance sheet are offset by two consecutive years of negative operating/free cash flow, weaker FY2026 operating profitability, and higher debt. Technically, indicators are mixed with neutral momentum and near-oversold conditions, while valuation looks less supportive due to a higher P/E and modest yield.
Positive Factors
Multi-year Revenue Growth
Sustained revenue growth over multiple years demonstrates durable underlying demand and successful scaling of engineered-to-order business. A threefold revenue increase implies stronger market penetration, better utilization of manufacturing capacity, and a larger base to absorb fixed costs over the next 2–6 months.
Negative Factors
Weak Cash Generation
Two consecutive years of negative operating and free cash flow point to structural working-capital strain or elevated capex needs, reducing earnings quality. Persistent cash deficits will pressure liquidity, may necessitate external financing, and limit reinvestment or dividends over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue Growth
Sustained revenue growth over multiple years demonstrates durable underlying demand and successful scaling of engineered-to-order business. A threefold revenue increase implies stronger market penetration, better utilization of manufacturing capacity, and a larger base to absorb fixed costs over the next 2–6 months.
Read all positive factors
Anup Engineering Ltd. (ANUP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹38.04B
Dividend Yield0.77%
Average Volume (3M)1.82K
Price to Earnings (P/E)35.6
Beta (1Y)0.83
Revenue Growth12.27%
EPS Growth-6.85%
CountryIN
Employees243
SectorServices
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)59.98
Shares Outstanding20,031,466
10 Day Avg. Volume2,058
30 Day Avg. Volume1,825
Financial Highlights & Ratios
PEG Ratio-4.17
Price to Book (P/B)4.64
Price to Sales (P/S)3.90
P/FCF Ratio-55.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)59.2
Revenue Forecast (FY)₹8.95B
Anup Engineering Ltd. Business Overview & Revenue Model
Company Description
The Anup Engineering Limited, along with its subsidiaries, specializes in the production and fabrication of diverse process equipment for a broad spectrum of industries across India. These sectors include chemicals, petrochemicals, pharmaceuticals...
How the Company Makes Money
ANUP primarily makes money by executing customer orders for engineered-to-order industrial equipment and assemblies. Revenue is generated from (1) product sales of customized process equipment (for example, heat exchangers, pressure vessels, and o...
Anup Engineering Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 8.01B | 8.22B | 7.33B | 5.46B | 4.11B | 2.87B |
| Gross Profit | 3.98B | 3.50B | 3.35B | 2.17B | 1.90B | 1.29B |
| EBITDA | 1.84B | 1.74B | 1.65B | 1.35B | 826.22M | 735.95M |
| Net Income | 1.20B | 1.10B | 1.18B | 1.03B | 514.30M | 620.54M |
Balance Sheet | ||||||
| Total Assets | 9.97B | 9.71B | 9.26B | 8.08B | 6.43B | 5.25B |
| Cash, Cash Equivalents and Short-Term Investments | 153.45M | 128.53M | 263.13M | 1.22B | 310.88M | 498.86M |
| Total Debt | 1.58B | 1.10B | 324.18M | 202.80M | 343.40M | 0.00 |
| Total Liabilities | 3.61B | 2.80B | 3.14B | 2.80B | 2.05B | 1.32B |
| Stockholders Equity | 6.36B | 6.91B | 6.12B | 5.28B | 4.38B | 3.93B |
Cash Flow | ||||||
| Free Cash Flow | -1.01B | -573.03M | -517.72M | 1.26B | -449.01M | 324.91M |
| Operating Cash Flow | -621.93M | -49.40M | -71.53M | 1.69B | 300.17M | 740.43M |
| Investing Cash Flow | -287.98M | -373.49M | 219.08M | -1.53B | -333.84M | -613.45M |
| Financing Cash Flow | 887.15M | 438.29M | -304.78M | -302.21M | 249.60M | -70.72M |
Anup Engineering Ltd. Technical Analysis
Positive
2340.50
Price Trends
1964.45
Negative
1852.37
Positive
2075.20
Negative
Market Momentum
-23.22
Negative
54.09
Neutral
47.12
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 2340.5 is above the 20-day moving average (MA) of 1912.34, above the 50-day MA of 1964.45, and above the 200-day MA of 2075.20, indicating a neutral trend. The MACD of -23.22 indicates Negative momentum. The RSI at 54.09 is Neutral, neither overbought nor oversold. The STOCH value of 47.12 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹36.44B | 16.53 | ― | 4.70% | -20.94% | 21.86% | |
66 Neutral | ₹34.70B | 9.43 | ― | 0.67% | 0.52% | -1.01% | |
64 Neutral | ₹50.19B | 61.99 | ― | 0.50% | -9.34% | 1.39% | |
61 Neutral | ₹53.49B | 20.38 | ― | 0.06% | 11.38% | 31.55% | |
59 Neutral | ₹38.04B | 35.59 | ― | 0.77% | 12.27% | -6.85% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
44 Neutral | ₹36.87B | 218.95 | ― | ― | 1589.72% | ― |
* Services Sector Average
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Anup Engineering Ltd. Corporate Events
Anup Engineering Publishes FY26 Financial Results Extract in Newspapers
May 29, 2026
The Anup Engineering Limited has notified the stock exchanges that it has published the extract of its financial results for the quarter and year ended 31 March 2026 in newspapers. In line with regulatory disclosure norms, the results have appeare...
Anup Engineering Launches Second 100-Day Drive to Safeguard Unclaimed Dividends
Apr 25, 2026
The Anup Engineering Limited has launched a second 100-day “Saksham Niveshak” campaign focused on updating KYC details and other shareholder information. The initiative is aimed at engaging investors proactively so their unpaid or uncl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.