Multibagger stock The Anup Engineering share price skyrockets 14% post Q4 results, dividend announcement

Stock Market Today:  Multibagger stock The Anup Engineering Ltd share price skyrocketed more than 14% in morning trades on Monday post the company declaring its Q4 earnings over the Weekend.  The Anup Engineering had also declared dividend of 200% enthusing investors.

The Anup Engineering reported net profit for the quarter ending March 2024 at ₹43.03 crore grew more than two folds over ₹19. 46 crore reported during the year ago quarter. The reported net profit also grew more than 100% over ₹20.17 Crore reported during the December'2023 quarter.

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The revenues from operation at ₹156.92 crore increased 8.8% over ₹144.17 Crore during the year ago quarter and 22% sequentially over ₹128.40 crore in the previous quarter.

The significant improvement in operating performance with Earnings before interest tax depreciation and amortisation (Ebitda) rising 37.3% year-on-year from ₹37.3 crore in Q4FY24 over ₹30.2 Crore in the year ago quarter lifted the performance. The bottom line was also boosted by some tax reversals.

The net profit during Fy24 at ₹103.5 crore also grew more than 2 folds ₹51.4 crore.  The revenues at ₹550.4 crore grew 33.8% year-on-year over ₹411.3 Crore in FY23. Earnings before interest tax depreciation and amortisation at ₹126.8 crore 53.3% over ₹82.7 crore in FY23.

The company's domestic business at ₹325.6 Crore during FY24 contributed 59% to overall, while exports at ₹171.8 Crore contributed 31% to overall revenues.

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The Anup Engineering in into the manufacturing of Heat Exchangers, Reactors, Pressure Vessels, Columns & Towers, Industrial Centrifuges and Formed Components

The Board of The Anup Engineering recommended final dividend of ₹ 15/- per equity share and one-time special dividend of ₹5/- per equity share, totaling to a dividend of ₹20/- per equity share of face value of ₹ 10/- each, for the financial year ended March 31, 2024 subject to the approval of shareholders

The Anup Engineering share price that was trading close to ₹2143 levels also scaled 52 week highs of ₹2,186.95 on the BSE.  The Anup Engineering share price having appreciated 173% has given Multibagger returns to the investors.