ICICI Direct has given Buy recommendation for The Anup Engineering with a target price of Rs. 1070 in its research report issued on May 18, 2022

ICICI Direct’s research report on The Anup Engineering

Anup Engineering is one of the leading process equipment manufacturers with special focus on heat exchangers. The company has a facility in Odhav, Gujarat and is currently in the process of making a greenfield expansion in Kheda • The company aims to achieve a topline target of Rs 1000 crore by 2026.

Outlook

We maintain BUY rating on the stock. We value Anup at Rs 1070 i.e. 15x P/E on FY24E EPS.

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