Anup Engineering reports strong growth, leadership change, and expansion

Anup Engineering Limited reported strong performance for the quarter and half year ended September 30, 2025, with consolidated revenue and EBITDA growing by 20% and 19% respectively. Consolidated revenue stood at ₹232 crore for Q2 FY26 and ₹407 crore for H1 FY26. The company maintained an industry-leading EBITDA margin of 22% and achieved a healthy pending orderbook of ₹568 crore as of October 31, 2025, with a balanced mix between exports (41.2%) and domestic orders (55.0%).

The board of directors also announced a significant leadership transition. Mr. Sanjay S. Lalbhai is stepping down as chairman and non-executive director effective November 10, 2025, as part of the company's succession planning. Mr. Punit S. Lalbhai, currently vice-chairman, has been appointed as the new chairman of the board, effective the same date. Additionally, Mr. Kulin S. Lalbhai was appointed as an additional non-executive director.

Anup Engineering commissioned Phase-2(A) at its Kheda Plant, adding an annual revenue potential of ₹150-200 crore and ensuring capacity until FY27. Phase-2(B), an open bay dedicated to volume products, is expected to be ready by the end of Q3 FY26, further expanding revenue potential by ₹100-150 crore per annum. The company aims to maintain EBITDA margins at approximately 22%.