The Anup Engineering Limited announced its financial results for the quarter and half-year ended September 30, 2026. The company reported a 46% sequential increase in revenue for Q2 FY27 and improved EBITDA margins. Despite a challenging environment, the company highlighted a resilient performance and a strengthening order book, positioning it for future opportunities.
Anup Engineering Announces Q2 FY27 Financial Highlights
The Anup Engineering Limited (ANUP), a leading manufacturer of static process equipment, has released its financial results for the second quarter and the first half of the fiscal year ending September 30, 2026. The company showcased a notable sequential recovery in financial performance.
Key Financial Performance
In the second quarter of FY27 (Q2 FY27), ANUP reported a revenue from operations of ₹182 crore, marking a significant 46% increase quarter-on-quarter (QoQ). The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also saw substantial improvement, growing by 84% QoQ to ₹17 crore. The EBITDA margin improved to 9.6%, up by 200 basis points from the previous quarter.
For the first half of FY27 (H1 FY27), the company’s revenue stood at ₹308 crore, with EBITDA at ₹27 crore. While the year-on-year (YoY) comparison showed a decrease in revenue and EBITDA due to a subdued order environment in the previous year, the sequential performance highlights a positive turnaround.
Order Book and Outlook
The company’s order book remains robust, standing at ₹941 crore, which includes letters of intent (LOIs). Approximately ₹390 crore of this is booked for FY28. ANUP is also executing a patented Clean Energy Storage solution with a European partner, indicating diversification and long-term potential in new segments. The outlook for FY27 anticipates a healthy order book, elevated domestic demand, and strong growth prospects in the thermal power segment. The company also plans to scale up its technical services vertical.
Operational Highlights
Despite cost pressures from geopolitical tensions impacting raw material costs by approximately 6%, ANUP has focused on realigning and debottlenecking operations. The company’s business mix is diversified across sectors like Oil & Gas (57%), Power & Energy (12%), and Other sectors (31%), with a product mix comprising Heat Exchangers (27%), Reactors & Vessels (66%), and Rotary Equipment & Silos (7%).
The management emphasized a sequential recovery in Q2 FY27, with improved EBITDA margins. They also noted that sub-optimal revenue levels in Q2 and H1 FY27 impacted EBITDA margins due to the under-absorption of fixed costs, though gross margins remained resilient.
Source: BSE
