The Anup Engineering Ltd., incorporated in the year 2017, is a Small Cap company (having a market cap of Rs 562.04 Crore) operating in Engineering sector.
Getty ImagesPromoters held 41.7 per cent stake in the company as of June 30, 2020 while FIIs held 3 per cent, DIIs 14.7 per cent and public and others 40.6 per cent.
ICICI Direct has given buy rating to The Anup Engineering with a target price of Rs 735. The share price moved up by 6.29 per cent from its previous close of Rs 540.30. The stock’s last traded price is Rs 574.30.
The Anup Engineering Ltd., incorporated in the year 2017, is a Small Cap company (having a market cap of Rs 562.04 Crore) operating in Engineering sector.
Financials For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 30.14 Crore, down 57.03 % from last quarter Sales of Rs 70.15 Crore and unchanged .00 % from last year same quarter Sales of Rs Crore. The Company reported net profit after tax of Rs 5.20 Crore in latest quarter.
Investment Rationale Historically, Anup has delivered a strong performance, albeit on a low base wherein sales and PAT CAGR were at 16% and 24%, respectively, over FY15-20. Going ahead, the brokerage believes this performance momentum will give decent order wins in FY20-Q1FY21 while commissioning of capacity at the existing facility and upcoming capex at Kheda, entry into newer geographies will drive PAT CAGR at 20.5% in FY20- FY22E. Earnings momentum and strong debt free balance sheet generating consistent RoICs in excess of 20% are expected to trigger a rerating for Anup. Hence, it assigns a BUY rating to the stock at 12x FY22E EPS with a target price of Rs 735 per share.
Promoter/FII Holdings Promoters held 41.7 per cent stake in the company as of June 30, 2020 while FIIs held 3 per cent, DIIs 14.7 per cent and public and others 40.6 per cent.
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