The Anup Engineering Ltd
ANUPThe Anup Engineering Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: Foreign institutions moved +1.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a downtrend (51 weeks in) while the P/E sits at the 71st percentile of its own 6-year range. Underneath, the last four quarters read deteriorating — profit −15.6% year on year, and 9% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
The Anup Engineering Ltd trades at ₹2,167, in a downtrend and 51 weeks into that stage. That is +2.5% against its own 200-day average. It sits at 65% of a 52-week range of ₹1,481 to ₹2,535. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 12 straight weeks.
Today the stock is in a downtrend — week 51 of stage 4. At ₹2,167 it trades +2.5% versus its 200-day average and sits at 65% of its 52-week range (₹1,481–₹2,535).
Against the market, two honest reads. Cumulative: over the last 7.4 years the stock moved +688% while the NIFTY 500 moved +147% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 12 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 71st percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
The Anup Engineering Ltd trades at 38.1× P/E, at the pricey end of its own range (71st percentile). Its long-run median P/E is 30.2×, measured across 6.1 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 38.1× is at the pricey end of its own range (71st percentile), against a long-run median of 30.2× measured over 6.1 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved −6.7% against a −23.0% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +34.9%/yr price move, ~+15.5%/yr came from earnings growth and ~+19.4 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Topping out Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
The Anup Engineering Ltd reads as topping out on its fundamental arc. Topping out — revenue, profit and EPS growth have decelerated hard (revenue growth +68.1% at its peak → +12.1% latest) while ROCE still reads 21.4%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: decelerating from a peak is where good stories quietly end — the multiple usually notices late.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +12.1% | +26.0% | +24.1% | — |
| Profit | −6.8% | +29.2% | +15.3% | — |
| EPS | −6.7% | +28.5% | +15.2% | — |
| Share price | −23.0% | +32.4% | +34.9% | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
45.7/100 — rank 9 of 16 in Capital Goods - Engineering Heavy · 83% evidence confidence
The Anup Engineering Ltd scores 45.7 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 9. Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
The four contributions add to the total exactly: 13.5 + 19.8 + 5.1 + 7.3 = 45.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
The Anup Engineering Ltd reported ₹208 Cr of revenue in the Mar 26 quarter, −6.3% year on year. Over 6 years it has compounded at 22.4% a year. The last full year, FY26, came in at ₹822 Cr. The last four reported quarters add to ₹822 Cr.
The Anup Engineering Ltd reported ₹208 Cr of revenue in the Mar 26 quarter, −6.3% year on year. Over 6 years it has compounded at 22.4% a year. The last full year, FY26, came in at ₹822 Cr. The last four reported quarters add to ₹822 Cr.
FY26 revenue came in at ₹822 Cr (+12.1% on the year), capping 6 years at 22.4% compound. The latest quarter (Mar 26) printed ₹208 Cr, −6.3% year on year.
Pace check: the last four quarters averaged +13.5% growth against the decade's 22.4% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +12.1% over the last 4 quarters against +25.4%/yr over the last 8 — rolling over; TTM profit −6.7% vs +22.5%/yr — rolling over.
→ Revenue slipped — did margins hold as it scaled? Next: 18.0% this quarter (−4.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
The Anup Engineering Ltd's operating margin is 18.0% in the Mar 26 quarter, −4.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 20.0% to 28.0%. The current quarter is running below every full year in that window.
The Anup Engineering Ltd's operating margin is 18.0% in the Mar 26 quarter, −4.0 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 20.0% to 28.0%. The current quarter is running below every full year in that window.
The latest quarter's operating margin is 18.0%, −4.0 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged 20.0%–28.0%.
🚨 Why the margin moved: operating margin went −4.0 pp year on year while gross margin went +5.5 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit −15.6% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
The Anup Engineering Ltd earned ₹27.0 Cr of net profit in the Mar 26 quarter, −15.6% year on year. Full-year FY26 profit was ₹110 Cr. The 6-year compound rate is 16.9%. That is 13.0% of the quarter's revenue. The same quarter a year earlier earned ₹32.0 Cr.
The Anup Engineering Ltd earned ₹27.0 Cr of net profit in the Mar 26 quarter, −15.6% year on year. Full-year FY26 profit was ₹110 Cr. The 6-year compound rate is 16.9%. That is 13.0% of the quarter's revenue. The same quarter a year earlier earned ₹32.0 Cr.
Mar 26 profit was ₹27.0 Cr, −15.6% year on year. On the full year, FY26 printed ₹110 Cr (−6.8%), and the 6-year compound rate is 16.9%.
🚨 Why profit moved: revenue contributed −6.3% and the margin −4.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −5.9% vs revenue +13.5%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
→ Profit rose — but did the cash follow? Next: 9% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 9% of The Anup Engineering Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹2.0 Cr of operating cash against ₹110 Cr of profit. After ₹55.0 Cr of capital spending, ₹−53.0 Cr was left as free cash.
FY26: operating cash of ₹2.0 Cr against reported profit of ₹110 Cr, leaving free cash of ₹−53.0 Cr after ₹55.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 9% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 9%: the cash cycle tightened 171 days between FY20 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 3.2× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹170 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
The Anup Engineering Ltd's cash conversion cycle runs 199 days in FY26, down from 370 days in FY20. Capital spending ran ₹170 Cr over the last 3 years. At FY26 sales of ₹822 Cr each day of that cycle holds about ₹2.3 Cr, so roughly ₹448 Cr sits inside the business at any moment.
FY26: debtors at 185 days, inventory at 94 days — roughly 3.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 199 days, tighter than FY20's 370.
The full loop: cash goes out to suppliers and production on day 0; stock waits 94 days to sell; customers pay about 185 days after that; and suppliers themselves are paid at 79 days — netting out to the 199-day cycle.
In money terms: at FY26 sales of ₹822 Cr, each day of the cycle holds about ₹2.3 Cr — so the 199-day loop keeps roughly ₹448 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹170 Cr over the last 3 fiscal years against ₹53.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹2.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 21% and the ROIC − WACC spread is +2.8 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
The Anup Engineering Ltd earns a ROCE of 21% in FY26. That is up from a trough of 17% in FY22. Return on invested capital clears the cost of that capital by +2.8 percentage points, so growth here adds value rather than only size. The wiring behind it is 13.4% net margin on 0.85× asset turns.
FY26 ROCE is 21%, recovered from a FY22 trough of 17% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 13.4% net margin × 0.85× asset turns × 1.41× balance-sheet leverage ≈ 16.1% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 14.8% − 12.0% = a +2.8 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.16.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
The Anup Engineering Ltd carries total debt of ₹110 Cr against shareholder equity of ₹691 Cr as of Mar 26, a debt-to-equity of 0.16 — effectively unlevered. On the annual view that ratio went from 0.08 in FY23 to 0.16 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹110 Cr against shareholder equity of ₹691 Cr — a debt-to-equity of 0.16. On the annual view, debt-to-equity went from 0.08 (FY23) to 0.16 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Domestic institutions added 5.5 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 5.5 points of The Anup Engineering Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 16.5% of the company. Foreign institutions moved +1.7 points over the same window, to 2.9%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +5.5 points over 8 quarters to 16.5%; Foreign institutions: +1.7 points over 8 quarters to 2.9%; Promoters: −0.3 points over 8 quarters to 40.9%.
Why the register moved: domestic institutions drove it (+5.5 points), alongside foreign institutions (+1.7 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
The Anup Engineering Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| The Anup Engineering Ltd this page | 38.1× | ₹4,246 Cr | Topping out | |||
| Bharat Heavy Electricals Ltd | 59.7× | ₹1.5L Cr | Mixed | |||
| Suzlon Energy Ltd | 22.5× | ₹71,276 Cr | Mixed | |||
| Inox Wind Ltd | 32.8× | ₹13,302 Cr | No read | |||
| Praj Industries Ltd | 299.0× | ₹5,946 Cr | Turning around | |||
| John Cockerill India Ltd | — | ₹4,413 Cr | No read | |||
| Windsor Machines Ltd | 2,498.0× | ₹3,023 Cr | No read | |||
| JNK India Ltd | 40.6× | ₹2,635 Cr | Turning around | |||
| Concord Control Systems Ltd | 60.1× | ₹2,548 Cr | Mixed | |||
| Concord Control Systems Ltd | 78.9× | ₹2,400 Cr | No read | |||
| John Cockerill India Ltd | 105.0× | ₹2,138 Cr | No read | |||
| Disa India Ltd | 31.3× | ₹1,761 Cr | Mixed | |||
| Walchandnagar Industries Ltd | — | ₹1,609 Cr | No read | |||
| Kabra Extrusion Technik Ltd | — | ₹1,318 Cr | Deteriorating | |||
| Eimco Elecon (India) Ltd | 27.0× | ₹1,032 Cr | Mixed | |||
| Bajaj Steel Industries Ltd | 22.3× | ₹823 Cr | Deteriorating | |||
| Bajaj Steel Industries Ltd | 13.5× | ₹710 Cr | Mixed | |||
| Integra Engineering India Ltd | 39.2× | ₹582 Cr | Deteriorating | |||
| Integra Engineering India Ltd | 33.2× | ₹535 Cr | Mixed | |||
| Hercules Investments Ltd | 8.6× | ₹317 Cr | Turning around |
Frequently asked questions
What is The Anup Engineering Ltd's share price today?
The Anup Engineering Ltd trades at ₹2,167, −23.0% over the past year. The company is valued at ₹4,246 Cr. The stock sits at 65% of its 52-week range of ₹1,481–₹2,535, +2.5% versus its 200-day average. On the tape, the price is in a downtrend, 51 weeks in. — as of 24 July 2026.
What were The Anup Engineering Ltd's latest quarterly results?
The Anup Engineering Ltd reported revenue of ₹208 Cr and net profit of ₹27.0 Cr for the Mar 26 quarter. Revenue fell 6.3% and profit fell 15.6% year on year. Earnings per share were ₹13.25. The operating margin was 18.0%, 4.0 pp lower than a year earlier. — as of 24 July 2026.
What is The Anup Engineering Ltd's revenue?
The Anup Engineering Ltd reported revenue of ₹208 Cr in the Mar 26 quarter, −6.3% year on year. For the full FY26 fiscal year, revenue was ₹822 Cr (+12.1%). Over the last 6 years revenue compounded at 22.4% a year. — as of 24 July 2026.
What is The Anup Engineering Ltd's profit?
The Anup Engineering Ltd earned ₹27.0 Cr of net profit in the Mar 26 quarter, −15.6% year on year. Full-year FY26 profit was ₹110 Cr. The operating margin ran 18.0% in the latest quarter. — as of 24 July 2026.
What is The Anup Engineering Ltd's market cap?
The Anup Engineering Ltd's market capitalisation is ₹4,246 Cr at a share price of ₹2,167. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is The Anup Engineering Ltd's P/E ratio?
The Anup Engineering Ltd trades at a P/E of 38.1×, at the 71st percentile of its own 6-year range, against a long-run median of 30.2×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does The Anup Engineering Ltd pay a dividend?
Yes — The Anup Engineering Ltd's dividend payout was 22% of profit in FY26, and it recorded a payout in each of its last 6 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is The Anup Engineering Ltd overvalued?
On its own history, The Anup Engineering Ltd looks expensive against its own history: its P/E of 38.1× sits at the 71st percentile of its 6-year range (long-run median 30.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is The Anup Engineering Ltd growing?
Not right now — The Anup Engineering Ltd's latest numbers are shrinking: latest-quarter revenue −6.3% year on year, profit −15.6%, and the margin −4.0 pp at 18.0%. The 6-year compound rates are 22.4% (revenue) and 16.9% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is The Anup Engineering Ltd performing?
The Anup Engineering Ltd is in a downtrend, 51 weeks in. Its latest quarter's revenue fell 6.3% and profit fell 15.6% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 12 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is The Anup Engineering Ltd in?
Topping out — revenue, profit and EPS growth have decelerated hard (revenue growth +68.1% at its peak → +12.1% latest) while ROCE still reads 21.4%. The read comes from the last 12 quarters of growth (revenue growth +12.1% latest, profit growth −6.7% latest, eps growth −6.9% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is The Anup Engineering Ltd in an uptrend?
No — the price is in a downtrend (week 51 of stage 4), trading +2.5% versus its 200-day average and at 65% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is The Anup Engineering Ltd beating the market?
On recent form, yes — The Anup Engineering Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 12 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.4 years the stock moved +688% against the NIFTY 500's +147% — ahead of the index over the full window. — as of 24 July 2026.
Will The Anup Engineering Ltd's share price go up?
This page publishes no price forecast for The Anup Engineering Ltd. What it measures instead: the share price is ₹2,167, the price is in a downtrend 51 weeks in. Its P/E of 38.1× sits at the 71st percentile of its own 6-year range. — as of 24 July 2026.
Who owns The Anup Engineering Ltd?
Promoters hold 40.9% of The Anup Engineering Ltd, foreign institutions 2.9%, domestic institutions 16.5% and the public 39.7% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 5.5 points over 8 quarters. — as of 24 July 2026.
Does The Anup Engineering Ltd have too much debt?
No — The Anup Engineering Ltd's debt-to-equity is 0.16, and operating profit covers the interest bill 19×. FY26 borrowings were ₹110 Cr against equity of ₹691 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is The Anup Engineering Ltd's capex?
The Anup Engineering Ltd spent ₹170 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹55.0 Cr, with ₹2.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is The Anup Engineering Ltd's cash flow?
The Anup Engineering Ltd generated ₹2.0 Cr of operating cash flow in FY26 and ₹−53.0 Cr of free cash flow after ₹55.0 Cr of capital spending. Reported profit that year was ₹110 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is The Anup Engineering Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 9% of The Anup Engineering Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹2.0 Cr against reported profit of ₹110 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is The Anup Engineering Ltd in its business cycle?
The Anup Engineering Ltd's FY26 operating margin was 21.0%, against a 6-year band of 20.0%–28.0%: the low end of its own band, which is where recoveries start when they come. The latest quarter ran 18.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the The Anup Engineering Ltd story?
The sharpest disagreement: Foreign institutions moved +1.7 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is The Anup Engineering Ltd a stock worth studying right now?
This is not investment advice. The machine read: The Anup Engineering Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.