The Anup Engineering Ltd (NSE:ANUP)
₹ 1,800.5 -0.80 (-0.04%) Market Cap: 36.01 Bil Enterprise Value: 37.07 Bil PE Ratio: 42.60 PB Ratio: 5.21 GF Score: 88/100

Q3 2026 Anup Engineering Ltd Earnings Call Transcript

Feb 04, 2026 / 11:00AM GMT
Release Date Price: ₹1938.2 (-6.46%)

Key Points

Positve
  • The Anup Engineering Ltd (NSE:ANUP) reported a consolidated revenue growth of 20.3% quarter on quarter for Q3, reaching INR206.9 crore.
  • EBITDA for the nine-month period ending December grew by 17.5% year on year, amounting to INR135.9 crore.
  • The company has successfully entered new markets, including the nuclear and thermal power sectors, with significant orders secured.
  • Exports accounted for 53.4% of the revenue, highlighting a strong international presence.
  • The company completed the phase two expansion at Kheda, increasing its fabrication capacity to support future growth.
Negative
  • Profit after tax growth was only 2.3% due to higher interest and financing costs, and changes in tax benefits.
  • The average working capital was higher than expected, primarily due to lower customer advances and higher data from long cycle orders.
  • Other expenses increased to 24.5% of revenue, up from 18% year on year, due to higher royalty, labor, subcontracting, and freight costs.
  • The order book decreased to INR550 crore from INR740 crore last year, raising concerns about future execution visibility.
  • The company faced challenges in the US market, with minimal revenue contribution this year compared to 15%-16% last year.
Operator;Reginaldo Dsouza
Anup Engineering Ltd - Chief Executive Officer, Managing

Ladies and gentlemen, good day and welcome to the Q3 and nine months ended FY26 earnings conference call of the Anup Engineering Limited.

(Operator Instructions)

Please note that this conference is being recorded.

Before we proceed to the call, let me remind you that the discussion must contain certain forward-looking statements that may involve known or unknown risks, uncertainties, and other factors.

It must be viewed in conjunction with a business risk that could cause actual results, performance, or achievements to differ significantly from what has been expressed or implied in such forward-looking statements.

Please note that the company has uploaded the result, press release, investor presentation, and also the outcome of the board meetings on the website of stock exchange and website of the com.

I now hand the conference over to Mr. Reginaldo D'Souza, managing director and CEO of the company.

Thank you and over to you, sir.

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