ANUP / Q4-FY26 / claim-ledger

Audit the questions that mattered.

The Anup Engineering · Analyst questions, management answers, and the quality of the response where the ledger is available.

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WatchQ4-FY26 · 2026-05-15Back to quarter ↗

Questions audited

12

Answered directly

75%

Numeric claims

3

Consistency

contradicted

Question ledger

What was answered, and how?

Sakit Kapoor · Kapoor and Industries

evasive

Reasons for Q4 margin decline and FY27 revenue/margin expectations on 769 cr order book.

So on the pending order book of roughly about 769 crores... I think it would be apt and prompt for us to to give couple of months uh to for the clarity to emerge... let's wait for the condition to settle before we come back with a clear profile in terms of revenue and margins.

Sakit Kapoor · Kapoor and Industries

partial

Was Q4 margin decline only due to raw material costs on fixed price contracts?

So it it's both uh one is of course the volume you would have seen the revenues have dripped as compared uh so that's one on the volume side and second of course the the the uh it has the raw material cost has not impacted much... it was planned to be an AITA in that sense...

Sakit Kapoor · Kapoor and Industries

direct

Why standalone profit fell from 40 cr to 27 cr on revenue dip from 205 cr to 195 cr?

Yes sir. So it's purely on the automix. Uh as I said that's how uh the the execution was planned. So it's purely on the product mix.

Sakit Kapoor · Kapoor and Industries

direct

Strategy and outlook for technical services business vertical.

this is one business vertical which we are focusing on very very strongly... we can expect to the tune of 40% margins... we've executed close to about 10 poss now... close to about 4 and a half crores... the strategy is to grow this the vertical to about 200 crores in the next 3 years horizon.

Sakit Kapoor · Kapoor and Industries

partial

How has raw material cost inflation affected current contracts and what are current RM prices?

our contracts are all fixed price contracts... for the orders which we have of the 700 uh 69 crores orders that we have part we had already ordered the the material... off late the orders that we've taken... we are timing the raw material...

Sakit Kapoor · Kapoor and Industries

direct

What portion of the 769 cr order book has raw material already aligned?

close to about 200 crores out of this is where we are holding on uh buying the materials uh waiting for the right time uh for the raw material cost to cool down.

Asha · HTC Asset Management

declined

Can management provide a base revenue and margin guidance for FY27?

I would love to make that declaration here but... it's better that we wait for a couple of months... we will be in a better position to give you a more realistic guidance...

Asha · HTC Asset Management

direct

Are customers considering price variation clauses given global inflation?

No price variability clause in our contract. Historically, it has never been... we let go of the border um just two weeks back just because we couldn't... it was close to about 200 core kind of a business.

Asha · HTC Asset Management

direct

How should we interpret the 1200 cr order pipeline?

No these are only active uh form inquiries from customers and which normally get materialized within two to three months... maximum these 1200 should get finalized.

Asha · HTC Asset Management

direct

Any breakthrough in air cooled heat exchangers product?

just this week that we backed our first order for air heaters and also uh one large order for aircooled heat exchangers uh for an export project.

Jandhi · Amit Capital

direct

Order intake number for Q4 and drivers of order growth.

We booked close to about 200 to be specific about 190 crores uh in the last two months and it's a mix of both uh domestic and imports... thermal power projects... petrochemical side... Middle East...

Jandhi · Amit Capital

direct

Expected hit rate on the 1200 cr inquiry pipeline.

we expect uh the conversion rate of about 20%. That's what we normally like to keep uh the conversion rate of around 20%.