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The Anup Engineering Limited announces FY19 results

Posted On: 2019-05-20 16:43:19

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.

Outlook:

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.


Source: Equity Bulls

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