The Anup Engineering Limited (ANUP)

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The Anup Engineering Limited (ANUP) · mywealthgrid

About

Anup Engineering manufactures industrial products as a mid-cap (₹3,706 Cr) with low leverage (D/E 0.16). Regular dividend payer in industrials sector; exposed to capex cycles and manufacturing demand.

Face value: ₹10

Market cap

₹3,133 Cr

P/E

37.0×

P/B

4.5×

Dividend yield

0.8%

ROE

16.9%

ROCE

21.6%

Debt / equity

0.16

OPM

21.2%

EPS (TTM)

₹42.3

Book value

₹345.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin collapsed to 7.5–8% in Jun 2026 from 21.2% average; net profit fell 95% to ₹0.6–1.1 Cr. Verify if seasonal Q1 weakness or structural demand loss.

Revenue halved to ₹118–125 Cr in Jun 2026 from ₹192–233 Cr prior. Clarify if demand-driven or capacity-utilization issue.

Valuation (PE 43.75) detached from recent earnings; 1-year return –21% despite regular dividends. Assess if recovery is priced in.

Dividend paid Aug 2026 despite profitability collapse. Verify sustainability if earnings remain depressed.

Generated analysis · source review pending

Growth drivers

Margin recovery to 18–22% (Sep 2025–Mar 2026 baseline) would restore ₹25–32 Cr quarterly profits; verify pricing power and root cause of recent compression.

Revenue recovery to ₹200+ Cr quarterly (vs ₹118–125 Cr now) requires demand rebound; confirm order pipeline and end-market visibility.

Low debt (D/E 0.16) enables capacity investment if capex cycle turns; verify management guidance on expansion plans and working capital needs.

Generated analysis · source review pending

1,868 historical price candles were omitted because the exchange source has not been verified.

₹1,566.7-1.5%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 21.2%
+Profit CAGR of 15.6% over the last 5 years
+Revenue CAGR of 24.1% over the last 5 years
+Comfortable interest coverage of 17.2×
+Dividend payout of 28.3% of profit

Cons

−Low return on equity of 4.4% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 70
Growth: 49
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	245	279	288	411	0	733	822
COGS	110	148	140	222	0	452	393
Gross profit	135	131	148	190	—	281	429
	66	62	78	107	0	131	255
	69	69	70	83	0	150	174
OPM %	28%	24.6%	24.3%	20.1%	—	20.4%	21.2%
Depreciation	9	11	12	13	0	128	28
Interest	1	0	1	1	0	24	9
	4	4	4	1	0	5	2
Profit before tax	63	61	61	70	0	3	139
Tax	20	8	-1	19	0	25	29
Tax %	31.8%	12.9%	-1.5%	26.5%	—	874%	20.8%
	43	54	62	51	0	-22	110
PAT margin %	17.5%	19.2%	21.5%	12.5%	—	-3%	13.4%
EPS (₹)	42.1	52.5	62.8	52	0	59.3	55.1
EPS adjusted (₹)	21.1	27.2	31.4	26	—	-11	55.1
	16.6%	13.3%	12.7%	28.8%	—	28.7%	21.8%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	10	10	10	0	20	20
Reserves	—	327	384	428	0	592	671
	—	0	0	34	0	29	108
	—	94	132	171	0	285	172
Total equity & liabilities	—	431	525	643	0	926	971
	171	212	203	217	0	363	348
CWIP	—	2	31	87	0	10	2
Investments	—	0	0	0	0	11	0
	—	217	292	338	—	543	621
Total assets	—	431	525	643	0	926	971

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	32	53	74	30	0	-148	2
	-15	-12	-61	-33	0	22	-36
	-16	-38	-7	25	0	-30	36
Net cash flow	1	3	6	22	0	-156	2
Free cash flow	14	13	32	-45	0	-192	-51
CFO / Operating profit %	46%	77.1%	105.8%	36.3%	—	-98.6%	1.2%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55%	47%	51.4%	46.1%	—	38.3%	52.2%
EBITDA margin %	28%	24.6%	24.3%	20.1%	—	20.4%	21.2%
EBIT margin %	24.3%	20.9%	20.3%	17.1%	—	2.9%	17.8%
PAT margin %	17.5%	19.2%	21.5%	12.5%	—	-3%	13.4%
Working capital
Receivable days	—	144	158	132	—	141	185
Inventory days	—	165	235	209	—	119	94
Payable days	—	66	113	108	—	71	79
NWC days	—	242	280	232	—	189	199
Leverage
Current ratio	—	2.67	2.33	2.05	—	1.9	2.47
Debt to EBITDA	—	0	0	0.42	—	0.2	0.62
Debt to equity	—	0	0	0.08	—	0.05	0.16
Interest coverage	83.9	181.8	60.3	50.6	—	1.1	17.2
Asset turnover	—	0.65	0.55	0.64	—	0.79	0.85
Return ratios
Return on assets %	—	12.4%	11.8%	8%	—	-2.4%	11.4%
Return on capital employed %	—	17.7%	16.5%	16.1%	0%	4.2%	21.6%
Return on equity %	—	15.9%	15.8%	11.8%	—	-3.6%	16%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	42.91%	42.91%	42.74%	41.24%	41.03%	40.98%	40.98%	40.98%	40.98%	40.92%	40.92%	40.92%
	1.14%	0.75%	0.85%	1.18%	1.61%	3.52%	4.59%	4.73%	3.98%	4.03%	3.18%	2.88%
	11.43%	11.1%	10.75%	11.06%	13.41%	14.52%	15.06%	15.2%	15.73%	16.11%	16.41%	16.52%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	44.52%	45.24%	45.66%	46.52%	43.95%	40.98%	39.37%	39.09%	39.31%	38.94%	39.49%	39.68%
No. of shareholders	—	—	—	—	—	—	—	—	99,596	98,168	99,220	98,401

Promoter holding down 1.99 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
PRAVIN N. BHAGWATIImmediate relative	BuyMarket Purchase	880	₹20.26 L	0.39% → 0.39%	4 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

10 deals · 18 May 2023 – 29 Jan 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
29 Jan 2026	HDFC MUTUAL FUND	Bulk	BSE	Sell	2,50,788	₹1,719.95	₹43.13 Cr
29 Jan 2026	HDFC MUTUAL FUND	Bulk	BSE	Buy	2,50,000	₹1,720.00	₹43.00 Cr
19 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,03,335	₹2,514.52	₹25.98 Cr
19 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,03,335	₹2,510.98	₹25.95 Cr
21 Mar 2025	THE VANGUARD GROUP INC AC VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND	Bulk	NSE	Buy	1,08,878	₹3,273.10	₹35.64 Cr
26 Jun 2024	AURA BUSINESS VENTURES LLP	Bulk	BSE	Sell	3,00,000	₹1,826.14	₹54.78 Cr
30 Oct 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	63,351	₹2,335.02	₹14.79 Cr
30 Oct 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	63,351	₹2,333.68	₹14.78 Cr
18 May 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	56,899	₹1,442.83	₹8.21 Cr
18 May 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	56,899	₹1,442.10	₹8.21 Cr

1–10 of 10

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. PUNIT SANJAY LALBHAINon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. Punit LalbhaiChairperson
Mr. Nilesh HiraparaChief Financial Officer
Mr. KULIN SANJAY LALBHAINon-Executive - Non Independent Director
Mr. REGINALDO DSOUZAExecutive Director-CEO-MD
Mr. SAMVEG ARVINDBHAI LALBHAINon-Executive - Non Independent Director
Mr. GANPATRAJ LALCHAND CHOWDHARYNon-Executive - Independent Director
Ms. REENA PRAVIN BHAGWATINon-Executive - Independent Director
Mr. DHINAL ASHVINBHAI SHAHNon-Executive - Independent Director
Mr. GOKUL MRUGESH JAYKRISHNANon-Executive - Independent Director
Mr. Lay DesaiCompany Secretary & Compliance Officer

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

0.16%

of the company's equity

All mutual funds

10.07%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	30,824	5.53	0.22%	0.154%	-675
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	211	0.04	0.01%	0.001%	+1
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	35	0.01	0.01%	0%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

We hereby inform you that CARE Ratings Limited, Credit Rating Agency has vide letter dated 31st July, 2026, reaffirmed the ratings for the facilities/ debts/instruments of the Company31 Jul 2026 from CARE

Investor Presentation and earnings call

May 2026Transcript AI Summary PPT REC
Feb 2026Transcript AI Summary PPT

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

9

Final dividend14 Aug 2026 · ex-date₹12
Final dividend6 Aug 2025 · ex-date₹17
Special dividend26 Jul 2024 · ex-date₹5
Final dividend26 Jul 2024 · ex-date₹15
Final dividend21 Jul 2023 · ex-date₹15
Final dividend29 Jul 2022 · ex-date₹8
Final dividend9 Aug 2021 · ex-date₹7
Final dividend17 Sept 2020 · ex-date₹7
Dividend dividend30 Jul 2019 · ex-date₹7

1

Board meeting to consider results6 Aug 2026

1

Bonus 1:123 Apr 2024 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

18 announcementsExport CSV

28 Sept 2026, 5:56 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	55%	47%	51.4%	46.1%	—	38.3%	52.2%
EBITDA margin %	28%	24.6%	24.3%	20.1%	—	20.4%	21.2%
EBIT margin %	24.3%	20.9%	20.3%	17.1%	—	2.9%	17.8%
PAT margin %	17.5%	19.2%	21.5%	12.5%	—	-3%	13.4%
Working capital
Receivable days	—	144	158	132	—	141	185
Inventory days	—	165	235	209	—	119	94
Payable days	—	66	113	108	—	71	79
NWC days	—	242	280	232	—	189	199
Leverage
Current ratio	—	2.67	2.33	2.05	—	1.9	2.47
Debt to EBITDA	—	0	0	0.42	—	0.2	0.62
Debt to equity	—	0	0	0.08	—	0.05	0.16
Interest coverage	83.9	181.8	60.3	50.6	—	1.1	17.2
Asset turnover	—	0.65	0.55	0.64	—	0.79	0.85
Return ratios
Return on assets %	—	12.4%	11.8%	8%	—	-2.4%	11.4%
Return on capital employed %	—	17.7%	16.5%	16.1%	0%	4.2%	21.6%
Return on equity %	—	15.9%	15.8%	11.8%	—	-3.6%	16%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Indo-Mim LimitedINDOMIMINDOMIM	₹62,891 Cr	₹63,981 Cr	₹4,193 Cr	₹1,071 Cr	25.5%	₹534 Cr	12.7%	29.6%	21.3%	—
Aditya Infotech LimitedCPPLUSCPPLUS	₹44,797 Cr	₹44,910 Cr	₹4,883 Cr	₹709 Cr	13.4%	₹477 Cr	8.7%	33.8%	25.5%	61
Syrma Sgs Technology LimitedSYRMASYRMA	₹33,121 Cr	₹33,474 Cr	₹5,464 Cr	₹610 Cr	11.3%	₹402 Cr	7.2%	18.7%	15%	48
Honeywell Automation India LimitedHONAUTHONAUT	₹29,454 Cr	₹29,454 Cr	₹4,703 Cr	₹637 Cr	12.9%	₹551 Cr	11.2%	16.7%	12.4%	-12
Jyoti Cnc Automation LimitedJYOTICNCJYOTICNC	₹23,470 Cr	₹24,320 Cr	₹2,191 Cr	₹535 Cr	25.2%	₹322 Cr	16.1%	25.3%	18.2%	359
Kaynes Technology India LimitedKAYNESKAYNES	₹22,773 Cr	₹23,648 Cr	₹3,899 Cr	₹609 Cr	15.8%	₹346 Cr	10%	15.4%	9.6%	193
Lmw LimitedLMWLMW	₹17,706 Cr	₹17,706 Cr	₹3,374 Cr	₹219 Cr	5.3%	₹175 Cr	4.1%	6.4%	4.6%	23
Tega Industries LimitedTEGATEGA	₹15,721 Cr	₹16,039 Cr	₹3,059 Cr	₹231 Cr	13.7%	₹21 Cr	8.4%	8.5%	5.9%	153
Lloyds Engineering Works LimitedLLOYDSENGGLLOYDSENGG	₹14,553 Cr	₹14,587 Cr	₹1,611 Cr	₹229 Cr	14.5%	₹163 Cr	15.2%	17.5%	16.4%	184
Kennametal India LimitedKENNAMETKENNAMET	₹9,411 Cr	₹9,411 Cr	₹991 Cr	₹179 Cr	18.1%	₹114 Cr	11.5%	24.5%	18.5%	170
Dynamatic Technologies LimitedDYNAMATECHDYNAMATECH	₹9,354 Cr	₹9,883 Cr	₹1,675 Cr	₹200 Cr	11.3%	₹42 Cr	2%	12.3%	4.3%	142
Standard Engineering Technology LimitedSETLSETL	₹8,318 Cr	₹8,376 Cr	₹849 Cr	₹129 Cr	15.4%	₹89 Cr	10.7%	15.5%	10.7%	335

Date	Category	Subject	Filing
28 Sept 2026, 5:56 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
27 Aug 2026, 4:21 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
25 Aug 2026, 3:51 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
10 Aug 2026, 6:16 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
7 Aug 2026, 1:41 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
1 Aug 2026, 5:46 pm	Company Update General	Letters Sent To Shareholders	PDF
1 Aug 2026, 4:20 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
31 Jul 2026, 9:19 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

The Anup Engineering Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

9

1

1

Announcements

Not in the F&O segment

9

1

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

The Anup Engineering Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends9

Board meetings1

Bonus issues1

Announcements

Not in the F&O segment

Dividends9

Board meetings1

Bonus issues1

Ratio timeline

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

9

1

1

9

1

1