Anup Engineering (ANUP) delivered solid Q3 & 9M FY26 results. For the nine months, revenue grew 20.2% to ₹614.4 Cr and EBITDA rose 17.5% to ₹135.9 Cr, maintaining an industry-leading 22% margin. Q3 saw revenue up 20.5% to ₹206.9 Cr and EBITDA up 13% to ₹44.1 Cr. PAT for 9M was flat at ₹85.3 Cr, impacted by higher interest costs, though excluding tax reversal, it grew slightly.
Growth is fueled by strong performance in Oil & Gas and Petrochemicals. ANUP commissioned Phase-2(B) of its Kheda plant, boosting capacity to ₹450 Cr p.a., and expanded into the Nuclear energy sector with a new order win.
The company's pending orderbook stands healthy at ₹550 Cr, with domestic demand picking up (69%). Management projects 15-20% growth for FY26, aiming to maintain ~22% EBITDA margins, supported by a robust ₹1,100 Cr inquiry pipeline for FY27. The Nuclear foray enhances long-term diversification.