Shares of Anup Engineering skyrocketed around 19 percent to hit a record high of Rs 2,185 on May 6 as investors cheered for the company's stellar performance in the March quarter.
At 2.42 pm, shares of Anup Engineering were trading at Rs 2,062.60 on the NSE. The solid earnings performance led to a spike in volumes of the counter as 3 lakh shares changed hands on the exchanges so far, much, much higher the one-month daily traded average of 30,000 shares.
Anup Engineering is also a multibagger, delivering over 250 percent returns in the past year.
The company's adjusted net profit for the January-March period surged nearly 47 percent year-on-year (YoY) to Rs 28.6 crore over Rs 19. 46 crore clocked in the same quarter a year ago. This net profit is adjusted for a tax reversal of Rs 14 crore in Q4FY24.
Meanwhile, revenue also rose 9 percent YoY to Rs 156.9 crore in the quarter gone by, aided by a strong order backlog, which was up 62 percent. Brokerage firm ICICI Securities believes the robust order backlog of the company is ensuring strong growth prospects for the company going ahead.
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In addition, the company's operating performance also improved as EBITDA margin swelled up to 23.8 percent in Q4, sharply up from 20.9 percent recorded in the base period. The sharp improvement in operational performance was brought about by robust execution and operating leverage.
ICICI Securities believes that the company's new leadership, thrust on export markets and strong capex cycle in India puts Anup Engineering in a sweet spot. "We believe the company will be able to deliver 20 percent plus growth over the next 2-3 years given the strong backlog and order pipeline," the brokerage stated in a note.
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