The Anup Engineering Ltd

The Anup Engineering Ltd

₹ 3,488 2.18%
21 Nov - close price
About

The Anup Engineering Limited demerged from its holding company Arvind Limited in 2018. [1]. It manufactures Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges and Formed Components. [2]

The company's products are used in wide range of process industries including Oil & Gas, Petrochemicals, LNG, Fertilizers, Chemicals, Pharmaceuticals, Power, Water, Paper & Pulp and Aerospace. [2] [3]

Key Points

Product Portfolio
The product portfolio of the company includes Heat Exchangers Columns such as Shell and Tube, Helical Baffle; Packed & Tray Column; Reactors & Vesse for High Thickness Pressure Vessels (up to 180mm) and Centrifuges for starch and chemical industries. [1]

  • Market Cap 6,966 Cr.
  • Current Price 3,488
  • High / Low 3,681 / 1,244
  • Stock P/E 58.4
  • Book Value 274
  • Dividend Yield 0.43 %
  • ROCE 22.6 %
  • ROE 20.7 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 18.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.2%
  • Debtor days have improved from 125 to 84.4 days.
  • Company's working capital requirements have reduced from 109 days to 62.8 days

Cons

  • Stock is trading at 12.7 times its book value
  • Tax rate seems low

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
89 47 100 52 101 114 144 125 140 128 157 144 188
66 36 76 42 80 92 114 97 108 98 120 112 145
Operating Profit 23 11 24 9 20 23 30 28 31 30 37 33 43
OPM % 25% 23% 24% 18% 20% 20% 21% 22% 22% 23% 24% 23% 23%
1 1 3 1 1 0 0 0 2 3 4 3 1
Interest 0 0 1 0 0 1 0 0 0 1 1 1 1
Depreciation 3 3 3 3 3 3 4 3 4 5 5 5 6
Profit before tax 20 8 23 7 18 19 27 25 29 26 36 29 38
Tax % 22% 26% -42% 20% 25% 27% 27% 26% 26% 24% -21% 17% 14%
16 6 33 6 14 14 19 19 22 20 43 24 32
EPS in Rs 8.04 3.17 16.45 2.81 6.92 7.01 9.83 9.37 10.97 10.19 21.62 11.98 16.18
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
0 243 245 279 288 411 550 617
0 178 176 209 217 327 422 474
Operating Profit -0 65 70 70 71 84 128 143
OPM % 27% 28% 25% 25% 20% 23% 23%
0 5 4 3 5 1 9 11
Interest 0 3 2 2 2 3 4 4
Depreciation 0 8 9 11 12 13 17 22
Profit before tax -0 59 63 62 62 70 116 129
Tax % 0% 29% 32% 13% -2% 27% 11%
-0 42 43 54 63 51 103 119
EPS in Rs 20.58 21.06 27.29 31.74 25.97 52.00 59.97
Dividend Payout % 0% 17% 17% 13% 13% 29% 19%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 25%
TTM: 18%
Compounded Profit Growth
10 Years: %
5 Years: 19%
3 Years: 23%
TTM: 62%
Stock Price CAGR
10 Years: %
5 Years: 73%
3 Years: 92%
1 Year: 151%
Return on Equity
10 Years: %
5 Years: 16%
3 Years: 17%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 0.05 10 10 10 10 10 10 20
Reserves -0 278 313 328 385 428 518 528
0 7 0 0 0 34 20 17
0 101 99 94 130 171 260 299
Total Liabilities 0 396 422 431 525 643 808 864
0 173 171 212 203 217 313 326
CWIP 0 2 12 2 13 87 16 15
Investments 0 0 44 0 20 0 104 56
0 222 194 218 289 338 376 468
Total Assets 0 396 422 431 525 643 808 864

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-0 55 32 53 74 30 169
0 -58 -15 -12 -61 -33 -152
0 3 -16 -38 -7 25 -30
Net Cash Flow 0 -0 1 3 6 22 -13

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 104 96 144 158 132 84
Inventory Days 279 351 165 235 209 212
Days Payable 133 77 66 109 108 81
Cash Conversion Cycle 251 370 242 284 232 215
Working Capital Days 132 158 146 139 127 63
ROCE % 42% 21% 19% 17% 17% 23%

Shareholding Pattern

Numbers in percentages

20 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
43.04% 43.04% 43.04% 43.05% 42.98% 42.98% 42.93% 42.91% 42.91% 42.74% 41.24% 41.03%
2.13% 1.76% 1.78% 1.78% 1.76% 2.52% 2.35% 1.14% 0.75% 0.86% 1.18% 1.60%
13.16% 13.25% 11.64% 10.68% 10.35% 10.36% 11.53% 11.42% 11.09% 10.74% 11.06% 13.41%
41.67% 41.94% 43.53% 44.47% 44.89% 44.12% 43.17% 44.53% 45.25% 45.66% 46.53% 43.96%
No. of Shareholders 90,64491,95291,14789,76288,24485,49283,01284,15983,75585,43892,38190,453

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls