Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

The Anup Engineering Ltd

ANUP
Capital Goods - Engineering Heavy

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 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 (3 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 −97.8% 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.

Stage
Deteriorating
fundamental trajectory, 12 quarters
Price
₹1,669
−26.7% 1Y
P/E
38.8×
71st pctile
of its own 6-year range
Revenue (Jun 26)
₹125 Cr
−28.5% YoY
Profit (Jun 26)
₹0.6 Cr
−97.8% YoY
Operating margin
7.6%
−15.5 pp YoY
ROCE
21%
FY26
ROIC
11.5%
vs WACC 12.0% → −0.5 pp
Cash conversion
9%
of profit, last 3 FY
01 · Price story

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 ₹1,669, in a downtrend and 3 weeks into that stage. That is −18.3% against its own 200-day average. It sits at 19% of a 52-week range of ₹1,481 to ₹2,449. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (6 weeks and counting).

Today the stock is in a downtrend — week 3 of stage 4, confirmed. At ₹1,669 it trades −18.3% versus its 200-day average and sits at 19% of its 52-week range (₹1,481–₹2,449).

Sep 26: ₹1,669 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−18.3% versus the 200-day line, week 3 of stage 4
Price50-day avg200-day avg
S2S4₹3,967₹3,103₹2,240₹1,376₹512₹1,669₹2,044Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4₹3,967₹3,103₹2,240₹1,376₹512₹1,669₹2,044Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2019 Each cell is one week from 2019 to now (398 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 19Sep 26

Against the market, two honest reads. Cumulative: over the last 7.5 years the stock moved +507% while the NIFTY 500 moved +142% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (6 weeks and counting; last ahead the week of 2026-07-31) — 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.

02 · Valuation

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 38.8× P/E, at the pricey end of its own range (71st percentile). Its long-run median P/E is 30.6×, measured across 6.2 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 38.8× is at the pricey end of its own range (71st percentile), against a long-run median of 30.6× measured over 6.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 38.8× vs a 30.6× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 6.2-year window; loss-period spikes above 92× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
at the pricey end of its own range (71st percentile)
P/EMedianEPS (TTM) (quarterly)
98.4×₹65.074.4×₹48.850.4×₹32.526.5×₹16.32.5×₹0.0×39.00×₹43Jun 20Jan 22Aug 23Mar 25Sep 26
98.4×₹65.074.4×₹48.850.4×₹32.526.5×₹16.32.5×₹0.0×39.00×₹43Jun 20Aug 23Sep 26
PEG 6.68 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Computed here as quarter-end P/E ÷ trailing-twelve-month EPS growth (only quarters with positive growth), because a reported quarterly PEG is not held for this stock. Last 9 quarters; values above 6 pinned at the top.
above 1.0, the multiple already banks the growth
PEGPEG = 1.0
6.4×4.8×3.2×1.6×0.0××6.00×Q1 FY24Q1 FY25Q3 FY25Q1 FY26Q3 FY26
6.4×4.8×3.2×1.6×0.0××6.00×Q1 FY24Q3 FY25Q3 FY26
P/E
38.8×
71st percentile of 6y
PEG
1.88
derived from 3-year earnings growth

Why the multiple sits where it does: over the past year annual EPS moved −6.7% against a −26.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +26.0%/yr price move, ~+8.7%/yr came from earnings growth and ~+17.3 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.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, The Anup Engineering Ltd was paying for profit growth of about 18.7% a year. Profit itself has compounded 16.9% a year over the past 6 years. Today the market pays 38.8× P/E, the 71st percentile of its own 6-year range.

What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is close to what this company has actually delivered.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Deteriorating

Stage: Deteriorating 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 deteriorating on its fundamental arc. Deteriorating — profit and EPS growth are shrinking (profit growth −29.7% latest against +88.6% at its 12-quarter best), ROCE slipping at 21.4%. The read is built from 12 quarters across 4 curves, on full evidence.

Growth, year by year: revenue +12.1% in FY26, profit −6.8% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
84%143%63%100%41%57%19%14%−2.8%−30%%%12.1%−6.8%FY20FY22FY26
84%143%63%100%41%57%19%14%−2.8%−30%%%12.1%−6.8%FY20FY22FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue rolling over, profit rolling over
RevenueProfitEPS
80%98%59%64%38%29%17%−4.9%−4.4%−39%%%1.4%−29.7%−29.8%Mar 23Dec 24Jun 26
80%98%59%64%38%29%17%−4.9%−4.4%−39%%%1.4%−29.7%−29.8%Mar 23Dec 24Jun 26
ROCE Trailing-twelve-month operating profit (before interest and tax) as a share of average capital employed — total assets minus current liabilities, the standard textbook basis, %.
the return curve, computed quarterly
ROCE
27%24%21%18%15%%21.4%Mar 23Sep 23Dec 24Sep 25Jun 26
27%24%21%18%15%%21.4%Mar 23Dec 24Jun 26
Revenue growth
Falling
latest +1.4% · span +1.4% to +74.5%
Profit growth
Falling
latest −29.7% · span −29.7% to +88.6%
EPS growth
Falling
latest −29.8% · span −29.8% to +87.3%
ROCE
Rolling over
latest 21.4% · span 16.2%–26.0%

🚨 Why it matters: falling curves mean every cheap-looking ratio below needs a discount for direction.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+12.1%+26.0%+24.1%
Profit−6.8%+29.2%+15.3%
EPS−6.7%+28.5%+15.2%
Share price−26.7%+15.5%+26.0%
Revenue YoY (Jun 26)
−28.5%
latest quarter vs a year ago
Profit YoY (Jun 26)
−97.8%
latest quarter vs a year ago
Revenue 10y
22.4%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

34.1/100 — rank 14 of 16 in Capital Goods - Engineering Heavy · 93% evidence confidence

The Anup Engineering Ltd scores 34.1 out of 100 against the 16 companies it is compared with in Capital Goods - Engineering Heavy, ranking 14. 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: 8.5 + 16.8 + 5 + 3.8 = 34.1. 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.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

The Anup Engineering Ltd reported ₹125 Cr of revenue in the Jun 26 quarter, −28.5% 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 ₹772 Cr.

FY26 revenue came in at ₹822 Cr (+12.1% on the year), capping 6 years at 22.4% compound. The latest quarter (Jun 26) printed ₹125 Cr, −28.5% year on year.

FY26 revenue ₹822 Cr (+12.1% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 6-year window. A bar is red when it is lower than the year before.
22.4% a year over 6 years
RevenueYoY growth
88884%66663%44441%22219%0−2.8%₹ Cr%₹82212.1%FY20FY22FY26
88884%66663%44441%22219%0−2.8%₹ Cr%₹82212.1%FY20FY22FY26
Jun 26: ₹125 Cr (−28.5% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
251154%188105%12556%637.1%0−42%₹ Cr%₹125−28.5%Mar 23Dec 24Jun 26
251154%188105%12556%637.1%0−42%₹ Cr%₹125−28.5%Mar 23Dec 24Jun 26

Pace check: the last four quarters averaged +1.5% 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 +1.4% over the last 4 quarters against +17.9%/yr over the last 8 — rolling over; TTM profit −29.7% vs +0.5%/yr — rolling over.

07 · Operating margin

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 7.6% in the Jun 26 quarter, −15.5 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 7.6%, −15.5 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 −15.5 pp year on year while gross margin went −1.6 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 21.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 6-year window.
within a 20.0–28.0% band over 6 years
operating marginYoY change (pp)
29%3.6%26%1.3%24%−1.0%22%−3.3%19%−5.6%%%21%−2%FY20FY22FY26
29%3.6%26%1.3%24%−1.0%22%−3.3%19%−5.6%%%21%−2%FY20FY22FY26
Jun 26: 7.6% operating margin (−15.5 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
24%6.0%20%0.0%15%−5.5%11%−11%6.3%−17%%%7.6%−15.5%Mar 23Dec 24Jun 26
24%6.0%20%0.0%15%−5.5%11%−11%6.3%−17%%%7.6%−15.5%Mar 23Dec 24Jun 26
08 · Net profit

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 ₹0.6 Cr of net profit in the Jun 26 quarter, −97.8% year on year. Full-year FY26 profit was ₹110 Cr. The 6-year compound rate is 16.9%. That is 0.5% of the quarter's revenue. The same quarter a year earlier earned ₹26.3 Cr.

Jun 26 profit was ₹0.6 Cr, −97.8% year on year. On the full year, FY26 printed ₹110 Cr (−6.8%), and the 6-year compound rate is 16.9%.

FY26 profit ₹110 Cr (−6.8% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 6-year window. A bar is red when it is lower than the year before.
16.9% a year over 6 years
Net profitYoY growth
127143%96100%6457%3214%0−30%₹ Cr%₹110−6.8%FY20FY22FY26
127143%96100%6457%3214%0−30%₹ Cr%₹110−6.8%FY20FY22FY26
Jun 26: ₹0.6 Cr (−97.8% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
35301%26194%1887%9−20%0−127%₹ Cr%₹1−97.8%Mar 23Dec 24Jun 26
35301%26194%1887%9−20%0−127%₹ Cr%₹1−97.8%Mar 23Dec 24Jun 26

🚨 Why profit moved: revenue contributed −28.5% and the margin −15.5 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −32.7% vs revenue +1.5%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

09 · Cash flow — the router

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.

FY26: CFO ₹2.0 Cr vs profit ₹110 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 6-year window, annual resolution.
9% of 3-year profit arrived as cash
Operating cashNet profitFree cash
1328233−17−67₹ Cr₹2₹110₹−53FY20FY22FY26
1328233−17−67₹ Cr₹2₹110₹−53FY20FY22FY26
FY26: CFO = 2% of profit (three-year rate 9%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
129%93%57%20%−16%%2%FY20FY22FY26
129%93%57%20%−16%%2%FY20FY22FY26

🚨 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.

10 · Where the cash goes

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.

FY26: a 199-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 6-year window.
−171 days vs FY20
Cash cycleInventory daysDebtor daysPayable days
39430621813042days199d94d185d79dFY20FY21FY22FY23FY26
39430621813042days199d94d185d79dFY20FY22FY26

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.

FY26: capex ₹55.0 Cr, work-in-progress ₹2.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
a build-out
CapexWork-in-progress
947047230₹ Cr₹55₹2FY21FY22FY26
947047230₹ Cr₹55₹2FY21FY22FY26

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

11 · Return on capital

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 −0.5 percentage points, so growth here is not yet paying for the capital it uses. 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: 11.5% − 12.0% = a −0.5 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. Negative — growth at these returns destroys value until the returns recover.

FY26: ROCE 21% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 4-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY22's 17%
ROCEROIC (annual)WACC
22%19%17%14%11%%21%16.4%FY21FY22FY26
22%19%17%14%11%%21%16.4%FY21FY22FY26
Q4 FY26: ROCE 19.7% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
26%23%19%15%11%%19.7%18.2%Q1 FY24Q2 FY25Q4 FY26
26%23%19%15%11%%19.7%18.2%Q1 FY24Q2 FY25Q4 FY26
12 · Debt

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.

FY26: debt ₹110 Cr at 0.16× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 4-year window.
Total debtDebt-to-equity
1190.17×890.13×590.10×300.07×00.03×₹ Cr×₹1100.16×FY23FY24FY26
1190.17×890.13×590.10×300.07×00.03×₹ Cr×₹1100.16×FY23FY24FY26
Mar 26: debt ₹110 Cr, debt-to-equity 0.16 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
1710.27×1280.20×850.14×430.08×00.01×₹ Cr×₹1100.16×Jun 23Sep 24Mar 26
1710.27×1280.20×850.14×430.08×00.01×₹ Cr×₹1100.16×Jun 23Sep 24Mar 26
13 · Ownership

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.

Fiscal-year ends: promoters −1.8 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
49%36%23%10%−2.7%%40.9%3.2%16.4%39.5%Mar 24Mar 25Mar 26
49%36%23%10%−2.7%%40.9%3.2%16.4%39.5%Mar 24Mar 25Mar 26
Domestic institutions added 5.5 points over 8 quarters Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
50%37%24%10%−2.9%%40.9%2.9%16.5%39.7%Jun 23Dec 24Jun 26
50%37%24%10%−2.9%%40.9%2.9%16.5%39.7%Jun 23Dec 24Jun 26
14 · 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.

15 · Related companies · Capital Goods - Engineering Heavy
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1JNK India LtdJNKINDIA 70.0/100Favorable setup83% evidence FADING 32.2/35 Revenue 84.4% · PAT 100% · OPM change 5.5 pp 100% evidence 14.5/25 ROCE 17.4% · OPM 8.8% 100% evidence 10.9/20 P/E 31.4× · PEG — 15% evidence 12.4/20 RS sector 15.1% · RS bench 31.2% · 1Y 44.5%10 of 12 weeks ahead 100% evidence
Exact sum: 32.2 + 14.5 + 10.9 + 12.4 = 70 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Suzlon Energy LtdSUZLON 65.0/100Favorable setup100% evidence ASLEEP 23.6/35 Revenue 45.2% · PAT 50.1% · OPM change -3 pp 100% evidence 18.2/25 ROCE 34.2% · OPM 16% 100% evidence 19.3/20 P/E 19.1× · PEG 0.47 100% evidence 3.9/20 RS sector -24.9% · RS bench -12.3% · 1Y -23.8%3 of 12 weeks ahead 100% evidence
Exact sum: 23.6 + 18.2 + 19.3 + 3.9 = 65 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -24.9% and the one-year return is -23.8%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
3Disa India LtdDISAQ 62.7/100Mixed-positive evidence81% evidence TURNING 17.0/35 Revenue 3.8% · PAT 6.3% · OPM change -1 pp 95% evidence 20.9/25 ROCE 26.6% · OPM 14% 95% evidence 12.7/20 P/E 31.7× · PEG — 50% evidence 12.1/20 RS sector 3% · RS bench -3% · 1Y -12.7%2 of 9 weeks ahead 70% evidence
Exact sum: 17 + 20.9 + 12.7 + 12.1 = 62.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Bharat Heavy Electricals LtdBHEL 60.7/100Mixed-positive evidence67% evidence TURNING 25.1/35 Revenue 27% · PAT 100% · OPM change 17 pp 71% evidence 8.6/25 ROCE 9.1% · OPM 7% 76% evidence 9.4/20 P/E 61.7× · PEG — 15% evidence 17.6/20 RS sector 18.4% · RS bench 36.2% · 1Y 103%8 of 12 weeks ahead 100% evidence
Exact sum: 25.1 + 8.6 + 9.4 + 17.6 = 60.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Concord Control Systems Ltd543619 57.8/100Mixed-positive evidence66% evidence ASLEEP 21.5/35 Revenue 100% · PAT 100% · OPM change 10 pp 48% evidence 21.2/25 ROCE 30.6% · OPM 30% 76% evidence 9.1/20 P/E 58.9× · PEG — 50% evidence 6.0/20 RS sector -11.9% · RS bench 2.9% · 1Y 57.8%3 of 12 weeks ahead 100% evidence
Exact sum: 21.5 + 21.2 + 9.1 + 6 = 57.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6John Cockerill India LtdCOCKERILL 55.6/100Mixed-positive evidence68% evidence FADING 24.0/35 Revenue 55.7% · PAT 10.7% · OPM change 1 pp 74% evidence 6.3/25 ROCE 6.5% · OPM -9% 100% evidence 8.9/20 P/E 917.2× · PEG — 15% evidence 16.4/20 RS sector 28.1% · RS bench 31.8% · 1Y 85.5%8 of 10 weeks ahead 70% evidence
Exact sum: 24 + 6.3 + 8.9 + 16.4 = 55.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Eimco Elecon (India) LtdEIMCOELECO 46.9/100Mixed-negative evidence81% evidence BREAKING OUT 11.2/35 Revenue -1.6% · PAT -18.8% · OPM change 0 pp 95% evidence 13.3/25 ROCE 10.3% · OPM 18% 95% evidence 9.0/20 P/E 33.9× · PEG — 50% evidence 13.4/20 RS sector 0.5% · RS bench 36.5% · 1Y 20.5%9 of 10 weeks ahead 70% evidence
Exact sum: 11.2 + 13.3 + 9 + 13.4 = 46.9 · Decision use: Price leads the evidence: RS versus the benchmark is 36.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
8Walchandnagar Industries LtdWALCHANNAG 46.6/100Mixed-negative evidence69% evidence ASLEEP 25.3/35 Revenue 38% · PAT 96.7% · OPM change 12.9 pp 71% evidence 3.4/25 ROCE 4.2% · OPM 8.1% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 7.9/20 RS sector -7.8% · RS bench 6.3% · 1Y 16.5%4 of 12 weeks ahead 100% evidence
Exact sum: 25.3 + 3.4 + 10 + 7.9 = 46.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Integra Engineering India Ltd505358 42.0/100Mixed-negative evidence75% evidence BASING 10.0/35 Revenue 1.7% · PAT -16.6% · OPM change -3.5 pp 95% evidence 17.9/25 ROCE 18.5% · OPM 16.4% 76% evidence 9.8/20 P/E 40.3× · PEG — 15% evidence 4.3/20 RS sector -20.2% · RS bench -7% · 1Y -26%3 of 12 weeks ahead 100% evidence
Exact sum: 10 + 17.9 + 9.8 + 4.3 = 42 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Inox Wind LtdINOXWIND 40.9/100Mixed-negative evidence93% evidence BASING 13.3/35 Revenue 17.1% · PAT -13.1% · OPM change -3 pp 100% evidence 9.6/25 ROCE 10.6% · OPM 19% 100% evidence 12.6/20 P/E 38.4× · PEG 1.22 65% evidence 5.4/20 RS sector -37.5% · RS bench -26.1% · 1Y -47.5%1 of 12 weeks ahead 100% evidence
Exact sum: 13.3 + 9.6 + 12.6 + 5.4 = 40.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Kabra Extrusion Technik LtdKABRAEXTRU 40.5/100Mixed-negative evidence66% evidence BREAKING OUT 15.0/35 Revenue 3.1% · PAT -80% · OPM change 8.4 pp 71% evidence 5.5/25 ROCE 0.1% · OPM 5% 95% evidence 8.5/20 P/E 3613× · PEG — 15% evidence 11.5/20 RS sector -6.2% · RS bench 160.1% · 1Y 164.8%10 of 10 weeks ahead 70% evidence
Exact sum: 15 + 5.5 + 8.5 + 11.5 = 40.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Hercules Investments LtdHERCULES 39.4/100Thin evidence · provisional55% evidence 13.8/35 Revenue -80% · PAT -74.3% · OPM change 3.7 pp 45% evidence 8.7/25 ROCE 5.7% · OPM — 60% evidence 12.7/20 P/E 8.6× · PEG — 50% evidence 4.2/20 RS sector -23.6% · RS bench -33% · 1Y -40%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 13.8 + 8.7 + 12.7 + 4.2 = 39.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13Windsor Machines LtdWINDMACHIN 37.7/100Mixed-negative evidence68% evidence ASLEEP 18.0/35 Revenue 51% · PAT 100% · OPM change -2.8 pp 74% evidence 1.3/25 ROCE 2.6% · OPM 4.2% 100% evidence 8.7/20 P/E 1044× · PEG — 15% evidence 9.7/20 RS sector -10.1% · RS bench 8.3% · 1Y -2.7%3 of 10 weeks ahead 70% evidence
Exact sum: 18 + 1.3 + 8.7 + 9.7 = 37.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14The Anup Engineering Ltdthis pageANUP 34.1/100Adverse evidence93% evidence ASLEEP 8.5/35 Revenue 1.4% · PAT -29.7% · OPM change -15.5 pp 100% evidence 16.8/25 ROCE 21% · OPM 7.6% 100% evidence 5.0/20 P/E 38.8× · PEG 5.03 65% evidence 3.8/20 RS sector -29% · RS bench -17% · 1Y -26.2%4 of 12 weeks ahead 100% evidence
Exact sum: 8.5 + 16.8 + 5 + 3.8 = 34.1 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.
15Bajaj Steel Industries LtdBAJAJST 31.8/100Adverse evidence81% evidence TURNING 4.8/35 Revenue -2.6% · PAT -48.3% · OPM change -7.7 pp 95% evidence 13.1/25 ROCE 11.7% · OPM 4.9% 95% evidence 8.5/20 P/E 26× · PEG — 50% evidence 5.4/20 RS sector -20% · RS bench -17.4% · 1Y -31.4%0 of 9 weeks ahead 70% evidence
Exact sum: 4.8 + 13.1 + 8.5 + 5.4 = 31.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Praj Industries LtdPRAJIND 25.3/100Adverse evidence94% evidence BASING 6.8/35 Revenue 2.4% · PAT -77.9% · OPM change -0.7 pp 100% evidence 6.8/25 ROCE 6.1% · OPM 4.2% 100% evidence 0.7/20 P/E 117× · PEG 4.5 100% evidence 11.0/20 RS sector 1.4% · RS bench -3% · 1Y -20.8%0 of 10 weeks ahead 70% evidence
Exact sum: 6.8 + 6.8 + 0.7 + 11 = 25.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is The Anup Engineering Ltd's share price today?

The Anup Engineering Ltd trades at ₹1,669, −26.7% over the past year. The company is valued at ₹3,334 Cr. The stock sits at 19% of its 52-week range of ₹1,481–₹2,449, −18.3% versus its 200-day average. On the tape, the price is in a downtrend, 3 weeks in. — as of 11 September 2026.

What were The Anup Engineering Ltd's latest quarterly results?

The Anup Engineering Ltd reported revenue of ₹125 Cr and net profit of ₹0.6 Cr for the Jun 26 quarter. Revenue fell 28.5% and profit fell 97.8% year on year. Earnings per share were ₹0.28. The operating margin was 7.6%, 15.5 pp lower than a year earlier. — as of 11 September 2026.

What is The Anup Engineering Ltd's revenue?

The Anup Engineering Ltd reported revenue of ₹125 Cr in the Jun 26 quarter, −28.5% 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 11 September 2026.

What is The Anup Engineering Ltd's profit?

The Anup Engineering Ltd earned ₹0.6 Cr of net profit in the Jun 26 quarter, −97.8% year on year. Full-year FY26 profit was ₹110 Cr. The operating margin ran 7.6% in the latest quarter. — as of 11 September 2026.

What is The Anup Engineering Ltd's market cap?

The Anup Engineering Ltd's market capitalisation is ₹3,334 Cr at a share price of ₹1,669. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is The Anup Engineering Ltd's P/E ratio?

The Anup Engineering Ltd trades at a P/E of 38.8×, at the 71st percentile of its own 6-year range, against a long-run median of 30.6×. This is a comparison with the stock's own history, not a value call — as of 11 September 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 11 September 2026.

Is The Anup Engineering Ltd overvalued?

On its own history, The Anup Engineering Ltd looks expensive: its P/E of 38.8× sits at the 71st percentile of its 6-year range (long-run median 30.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is The Anup Engineering Ltd growing?

Not right now — The Anup Engineering Ltd's latest numbers are shrinking: latest-quarter revenue −28.5% year on year, profit −97.8%, and the margin −15.5 pp at 7.6%. The 6-year compound rates are 22.4% (revenue) and 16.9% (profit). The earnings engine currently reads: deteriorating — as of 11 September 2026.

How is The Anup Engineering Ltd performing?

The Anup Engineering Ltd is in a downtrend, 3 weeks in. Its latest quarter's revenue fell 28.5% and profit fell 97.8% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 6 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is The Anup Engineering Ltd in?

Deteriorating — profit and EPS growth are shrinking (profit growth −29.7% latest against +88.6% at its 12-quarter best), ROCE slipping at 21.4%. The read comes from the last 12 quarters of growth (revenue growth +1.4% latest, profit growth −29.7% latest, eps growth −29.8% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is The Anup Engineering Ltd in an uptrend?

No — the price is in a downtrend (week 3 of stage 4), trading −18.3% versus its 200-day average and at 19% 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 11 September 2026.

Is The Anup Engineering Ltd beating the market?

Not lately — on a trailing-13-week view The Anup Engineering Ltd is currently behind the NIFTY 500 (6 weeks and counting; last ahead the week of 2026-07-31), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 7.5 years the stock moved +507% against the NIFTY 500's +142% — ahead of the index over the full window. — as of 11 September 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 ₹1,669, the price is in a downtrend 3 weeks in. Its P/E of 38.8× sits at the 71st percentile of its own 6-year range. — as of 11 September 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 11 September 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 16×. FY26 borrowings were ₹110 Cr against equity of ₹691 Cr. The returns on this page are earned, not borrowed — as of 11 September 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 11 September 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 11 September 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 11 September 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 7.6%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does The Anup Engineering Ltd's price assume?

At its price on 13 June 2026, The Anup Engineering Ltd was priced for profit growth of about 18.7% a year. Profit itself has compounded 16.9% a year over the past 6 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 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 11 September 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 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI