Lower order book may pressure FY27 growth
Order book at ₹550 crore is significantly lower than last year's ₹740 crore, which could challenge the ability to achieve 15-20% growth in FY27 without strong order conversion.
high · analyst_questionThe Anup Engineering Limited — Q3 FY26
Anup Engineering reported Q3 FY26 consolidated revenue of ₹206.9 crore, up 20.3% QoQ, and EBITDA of ₹44.1 crore, up 13% QoQ.
neutral
medium
Financial stats pending filing verification
Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Working capital remains elevated
Average working capital was ₹367 crore at 2.2 turns, higher than expected due to lower customer advances and long-cycle orders. Management expects improvement but it remains a risk.
medium · management_commentaryGeopolitical uncertainty could delay export orders
Despite the US-India trade deal, geopolitical tensions and tariff uncertainties may continue to delay finalization of export orders, impacting order book growth.
medium · management_commentaryMargin compression from product mix shift
Increased share of high-volume, lower-margin products (15-18% margin) could drag overall EBITDA margins below the 22% target.
medium · data_observation