Anup Engineering Q4 PAT more than doubles to ₹43 crore, board recommends dividend of ₹20 per share
Upstox
2 min read • Updated: May 6, 2024, 2:21 PM
Summary
Anup Engineering’s earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 23.5% year-on-year (YoY) to ₹37.3 crore in Q4FY24. In Q4FY24, the provision of tax was reversed by ₹14.51 crore which led to higher a net profit during the quarter and the fiscal, the company said.
Anup Engineering on Saturday announced its fourth-quarter net profit more than doubled to ₹43.03 crore as compared to the same period in the previous fiscal. Revenue from operations during the quarter stood at ₹156.92 crore, reflecting an 8.8% growth on a year-on-year (YoY) basis.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose by 23.5% year-on-year (YoY) to ₹37.3 crore in Q4FY24. During the quarter, the provision of tax was reversed by ₹14.51 crore which led to higher a net profit during the quarter and the fiscal, the company said.
For the fiscal year 2024, Anup Engineering reported a 33.8% YoY increase in its operating revenue at ₹550.4 crore. Net profit more than doubled to ₹103.5 crore during the fiscal. EBITDA rose 53.3% to ₹126.8 crore. The company’s domestic business contributed significantly to its overall revenue, accounting for 59% of the total at ₹325.6 crore, while exports contributed 31% with revenues totaling ₹171.8 crore.
The board of Anup Engineering recommended a final dividend of ₹15 per equity share along with a one-time special dividend of ₹5 per equity share, totaling a dividend of ₹20 per equity share of face value ₹10 each, subject to shareholder approval.
The company said its order book stood at ₹854.2 crore as of March 31, 2024, and has a strong order book for FY25. It said that the extension of PS Bay at Kheda will be commissioned in Q1FY25 and this will provide two complete bays for manufacturing at Kheda. Meanwhile, the transaction of acquisition of Mabel will be completed in Q1FY25, it said.
Established in 1962, Anup Engineering specialises in the manufacturing of sulphur condensers, bayonet tube exchangers, catalyst coolers, transfer line exchangers, evaporators, high-pressure feed water heaters, surface condensers, waste heat exchangers, multi-tube hairpin exchangers, RG boilers, etc. The company has its manufacturing facility in Ahmedabad, Gujarat.
Shares of the company have gained over 53% since the beginning of the year. The stock has risen over 259% in the last one year.