In This Article:
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Standalone Revenue (Q2): ?187.9 crores, 34% growth quarter-on-quarter.
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Standalone EBITDA (Q2): ?42.9 crores, 22.9% margin, 37% growth quarter-on-quarter.
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Standalone PAT (Q2): ?32.3 crores, 17.2% margin, 48% growth quarter-on-quarter.
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Consolidated Revenue (Q2): ?193.1 crores, 38% growth quarter-on-quarter.
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Consolidated EBITDA (Q2): ?43.3 crores, 22.4% margin, 38% growth quarter-on-quarter.
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Consolidated PAT (Q2): ?32.5 crores, 16.8% margin, 50% growth quarter-on-quarter.
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H1 Revenue: ?339.1 crores, 28% growth year-on-year.
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H1 EBITDA: ?76.3 crores, 28% growth year-on-year.
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H1 PAT: ?56.6 crores, 40% growth year-on-year.
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Working Capital: Healthy at 4.1 turns.
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Exports (H1): 52% of total revenue.
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Sectorial Revenue (Q2): Oil & Gas and Petrochemicals 61%, Hydrogen 30%, Fertilizers and Others 9%.
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Product Revenue Share (Q2): Heat Exchangers 72%, Vessels, Reactors, and Columns 24%, Others 4%.
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Pending Order Book (End of September): ?882 crores, 68% exports.
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Current Pending Order Book: ?932 crores.
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Renewable Energy Usage: 60% of power requirement at Ahmedabad plant from renewable sources, expected to increase to 75%.
Release Date: October 28, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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The Anup Engineering Ltd (NSE:ANUP) reported a 34% quarter-on-quarter revenue growth, marking its best-ever quarter on revenue.
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The company achieved a 48% quarter-on-quarter growth in profit after tax (PAT), demonstrating strong financial performance.
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Exports accounted for 52% of the revenue, indicating a successful expansion into international markets.
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The company has signed a collaboration agreement with Graham Corporation USA, becoming the exclusive manufacturer for their global projects.
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The pending order book stands at 932 crores, providing strong visibility and confidence for future growth.
Negative Points
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The company's receivables have increased significantly, raising concerns about cash flow management.
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There is aggressive market competition, particularly in the domestic sector, which could impact future margins.
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The company faces geopolitical risks in its export markets, which could affect order execution.
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Capacity utilization at the Ahmedabad facility is nearly maxed out, limiting immediate growth potential without further expansion.
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The company does not have price variation clauses in its contracts, which could expose it to raw material price fluctuations.
Q & A Highlights
Q: Can you provide insights into the growth projections for FY27 and FY28, and details about the collaboration with Graham Corporation? A: We aim for a 25-30% growth year-on-year over the next 2-3 years. This will be achieved by expanding capacity and strategic collaborations. The Graham Corporation collaboration makes us their exclusive manufacturer, potentially adding 30-40 crores in revenue for FY26, with opportunities for international markets as well. - Reginaldo Dsouza, Managing Director and CEO