The Anup Engineering Limited (ANUP), announced its financial results for the fourth quarter and year ended March 31, 2019.
In terms of results, the company has closed FY2019 on a strong note. Overall revenues for the year grew 10% and stood at INR 221 crores - excluding trading income. For Q4, operating revenues decreased from INR ~82 crores to INR ~66 crores for Q4 as a result of contractual timelines (as a reference, for H2, revenues increased from INR 125 crores to INR 143 crores).
Corresponding to above operating income, EBITDA margins expanded from 26% in FY18 to 29% in FY19, and stood at INR64 crores for FY2019. This was partly driven by better realization of export benefits. Profit Before Tax stood at Rs. 59.48 crore (+13%). Profit After Tax was INR 42.70 crores, and the company has decided to pay out dividend at INR 7 per share.
The Company continues to report robust cash generation resulting in a strengthened balance sheet position. Cash surplus position as on March 31, 2019 was at Rs.67 crore.
Opening orderbook for FY2020 stands at INR300 crores, which will enable the company to comfortably aim for 30%+ growth during the year. Anup is in the middle of a 3 year capex cycle which will see investment of INR150+ Cr in expanding facilities at its existing location at Odhav in Ahmedabad area, and also developing a greenfield facility at a new location which is 40km away. This will help the company execute larger, and more complex equipment orders.