Anup Engineering's March quarter profit up y-o-y by more than 100%

7 May 2024 , 10:11 AM

Anup Engineering’s Q4 net profit more than doubled to ₹43.03 Crore compared to the same period last fiscal year. Quarterly revenue from operations reached ₹156.92 Crore, showing an 8.8% YoY growth. EBITDA surged by 23.5% YoY to ₹37.3 Crore in Q4FY24.

A tax provision reversal of ₹14.51 Crore contributed to the higher net profit for both the quarter and fiscal, according to the company. For FY24, operating revenue soared by 33.8% YoY to ₹550.4 Crore, with a net profit doubling to ₹103.5 Crore. EBITDA increased by 53.3% to ₹126.8 Crore.

Domestic business accounted for 59% of the total revenue at ₹325.6 Crore, while exports contributed 31%, generating ₹171.8 Crore.

The board proposed a final dividend of ₹15 per equity share and a special dividend of ₹5 per equity share, totaling ₹20 per equity share, subject to shareholder approval. Anup Engineering’s order book stood at ₹854.2 Crore as of March 31, 2024, with a robust outlook for FY25.

At the time of writing, stocks of Anup Engineering were trading at ₹2032.05 which is a 1.53% dip than the previous close. Shares of the company have surged by over 50% since the beginning of the year and over 253% in the last year.

Expansion plans include commissioning the PS Bay extension at Kheda in Q1FY25, providing additional manufacturing capacity. The acquisition of Mabel is expected to be completed in Q1FY25.

Established in 1962, Anup Engineering specializes in various manufacturing products including sulphur condensers, bayonet tube exchangers, catalyst coolers, etc., with a manufacturing facility in Ahmedabad, Gujarat. 

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