The Anup Engineering - Q3FY21 - First Cut - ICICI Direct

(CMP: Rs. 711 MCap: Rs. 727 crore)

Anup's Q3FY21 performance was subpar led by lower execution on account of night curfew at Ahmedabad post Diwali. Bottom-line was cushioned led by reversal of taxation as the company adopted lower tax rate under Sec-115-BAA

- Revenue for the quarter came in at Rs. 29 crore, down 62% YoY and 66% QoQ. Execution was impacted on account of night curfew at Ahmedabad. On the positive side, the company has Finished goods stock of Rs. 28 crore value as on December end.

- EBIDTA came in at Rs. 6.8 crore, down 68% YoY entailing a margin of 23% vs 27% YoY.

- Employee cost increased 26% YoY to Rs. 4.6 crore while other expenses declined 4% YoY to Rs. 14.2 crore.

- Anup's PAT declined 34% YoY to Rs. 9.1 crore cushioned by negative tax charge of Rs. 4.1 crore.

- Order-book currently stands at Rs. 363.5 crore

Source : Equity Bulls

Keywords