The Anup Engineering Limited (ANUP.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+21.0%

₹1,651.24

vs ₹1,364.40 price

Levered DCF

₹442.20

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

—

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	29.05×	57.27×	30.27×	19.26×	12.64×	10.86×	7.77×	13.56×
P/B	4.64×	11.11×	6.08×	2.28×	2.01×	1.74×	1.03×	2.02×
P/S	3.9×	9.28×	5.88×	2.42×	2.75×	2.12×	1.4×	2.45×
EV / EBITDA	18.84×	41.25×	23.73×	12.1×	10.6×	7.95×	4.51×	8.46×
Gross margin	42.5%	45.7%	39.7%	46.1%	45.1%	42.0%	49.2%	45.9%
Operating margin	17.8%	40.0%	20.0%	17.5%	20.6%	20.9%	25.0%	24.2%
Net margin	13.4%	16.1%	18.9%	12.5%	21.6%	19.4%	18.0%	18.1%
Current ratio	2.47×	1.9×	1.86×	2.05×	2.34×	2.67×	2.57×	1.74×
Debt / equity	0.16×	0.05×	0.04×	0.08×	0×	0×	0×	0.03×
Interest coverage	16.82×	87.83×	29.3×	28.12×	67.1×	47.89×	31.14×	20.37×
Dividend yield	1.0%	0.6%	0.5%	0.8%	0.9%	1.2%	2.5%	0.0%
Payout ratio	30.4%	33.1%	14.2%	15.2%	11.0%	13.1%	19.8%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	16.0%	19.3%	19.6%	11.8%	15.8%	15.9%	13.3%	14.9%
Return on invested capital	14.2%	36.6%	17.3%	10.9%	14.6%	14.4%	12.0%	15.5%
Return on assets	11.4%	12.8%	12.8%	8.0%	11.8%	12.4%	10.2%	10.6%
Free cash flow yield	-1.8%	-0.8%	3.9%	-4.5%	4.1%	2.2%	4.1%	1.6%
Earnings yield	3.4%	1.7%	3.2%	5.2%	7.9%	9.1%	12.9%	7.4%
Enterprise value	₹33.1B	₹68.2B	₹32.1B	₹10B	₹7.8B	₹5.8B	₹3.3B	₹5.8B
Net debt / EBITDA	0.6×	0.1×	0.02×	0.04×	-0.13×	-0.05×	-0.01×	0.11×
Cash conversion cycle (days)	197	196	199	233	275	241	349	231