Anup Engineering Q3 Review - Small Hiccup; Long-Term Vision Intact: ICICI Direct
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Anup Engineering Ltd.’s Q3 FY21 performance was subpar led by lower execution on account of night curfew in Ahmedabad post Diwali (loss of 20 days).
Further, dispatch of heat-exchangers remained an issue during the curfew days as the company faced logistic challenges.
Bottomline was cushioned, led by reversal of taxation as the company adopted a lower tax rate under Sec-115- BAA.
Revenue for the quarter came in at Rs 29 crore, down 62% YoY, 66% QoQ.
Execution was impacted on account of night curfew in Ahmedabad.
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