Anup Engineering Q3 Review - Small Hiccup; Long-Term Vision Intact: ICICI Direct
An employee assembles components onto an engine in India. (Photographer: Udit Kulshrestha/Bloomberg)  

Anup Engineering Q3 Review - Small Hiccup; Long-Term Vision Intact: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

Click on the attachment to read the full report:

ICICI Direct Anup Engineering Q3FY21 Result Update.pdf

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