ANUP ENG. H1 RESULTS: Revenue and EBITDA stood at ₹308 Cr and ₹27 Cr, respectively
| H1 FY27 HIGHLIGHTS | Year-on-year comparison Resilient performance. Revenue and EBITDA stood at ₹308 Cr and ₹27 Cr, respectively.Robust Orderbook position. Healthy order book of ₹941 Cr, out of which ~390 Cr is booked for FY28. |
Ahmedabad, November 07, 2026: The Anup Engineering Limited (ANUP), one of India’s leading manufacturers of static process equipment, today announced its financial results for the quarter and half year ended September 30, 2026.
CONSOLIDATED FINANCIAL HIGHLIGHTS
| Particulars (₹ crore) | Q2 FY27 | Q2 FY26 | YoY change | Q1 FY27 | QoQ change |
| Revenue from operations | 182 | 232 | (22%) | 125 | 46% |
| EBITDA | 18 | 52 | (66%) | 10 | 84% |
| EBITDA margin | 9.6% | 22.2% | – | 7.6% |
PERFORMANCE HIGHLIGHTS – Q2 and H1 FY27
- Sequential Recovery. Consistent with our commentary during first quarter call, we delivered a strong sequential recovery, with revenue in Q2 growing 46% QoQ and improved EBITDA margins.
- Under-absorption of Fixed cost. During Q2 and H1 FY27, sub-optimal revenue levels impacted EBITDA margins due to the under-absorption of fixed costs. Nevertheless, gross margins remained resilient, with only a modest impact from higher raw material costs.
- Elevated Cost Pressure due to Geopolitical Tensions. Disruptions caused byelevated geopolitical tensions contributed largely to a ~6% increase in raw material costs, creating additional headwinds for overall profitability.
Business mix
| Sector mix | Product mix | ||
| Oil & Gas | 57% | Heat Exchangers | 27% |
| Power & Energy | 12% | Reactors & Vessels | 66% |
| Other sectors | 31% | Rotary Equipment & Silos | 7% |
OUTLOOK FOR FY27
- Healthy Order book. Healthy pending orderbook (including LOI) of ₹941 Cr (of which ~₹390 Cr booked for FY28)
- Elevated Domestic Demand. Orderbook between Domestic (67%) and Exports (33%), suggesting pick up in domestic demand.
- Strong pipeline. An encouraging enquiry pipeline of ₹1200 crore provides strong visibility for order book build-up across FY27 and FY28.
- Thermal Power Project. With large Thermal Power projects on the cards, this segment is poised for a strong growth for at list 3 years. Our strong presence now provides good opportunity.
- Technical Services. The Company plans to scale up its Technical Services vertical, with a focus on improving overall profitability.
- Prudent risk management. Amid heightened geopolitical volatility, the Company is prioritising stability, consolidation and stronger risk management to safeguard performance.
(Disclaimer: The information provided here is investment advice only. Investing in the markets is subject to risks and please consult your advisor before investing)
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