### **Company Overview** Anup Engineering Limited, established in 1962, is a leading Indian manufacturer of engineered heavy process equipment with over **63 years of experience** in industrial fabrication. The company serves diverse capital-intensive process industries globally and is recognized for its technical expertise, quality manufacturing, and on-time delivery performance. It is part of the Arvind Limited group, a $1.7 billion conglomerate with four listed entities. --- ### **Core Business & Product Portfolio** Anup Engineering specializes in the design, engineering, and fabrication of **static process equipment** used across energy, chemical, and infrastructure sectors. Key products include: - **Shell & Tube Heat Exchangers** (including proprietary technologies: *Helixchanger* and *Embaffle*) - **Reactors & Pressure Vessels** (up to 180mm thickness) - **Columns & Towers** (packed and tray) - **Industrial Centrifuges** (Peeler, Top/Bottom Discharge, Siphon types; used in starch, chemicals, agrochemicals) - **Silos, Storage Tanks & Piping Spools** - **Formed Components** - **High-complexity critical equipment** made from exotic materials (e.g., Titanium, Hastelloy, Inconel, Duplex/Super Duplex steels) Historically, **shell and tube heat exchangers accounted for ~70% of revenue**, though this share is expected to moderate to **60–65%** in FY26 due to diversification into larger equipment. --- ### **Manufacturing & Engineering Infrastructure** The company operates through an integrated network of manufacturing and design facilities across western and southern India: #### **Manufacturing Plants** 1. **Ahmedabad & Kheda (Gujarat):** - Part of the new **Kheda facility** — a state-of-the-art site with a total shop area of **125,000 m²**. - **Phase 1 operational since June 2023**, with **Phase 2A launched October 2024**. - **Phase 2B (volume products open bay) expected by Q3 FY26**, adding ₹100–150 crore annual revenue potential. - Can handle equipment up to: - Diameter: **8.5 meters** - Length: **100 meters** - Weight: **1,000 metric tons** - Located near **National Highway 48**, offering strategic access to western ports (Kandla, Mundra, Nhava Sheva), **350–550 km away**. 2. **Chennai, Tamil Nadu (via 100% subsidiary Mabel Engineers Private Limited):** - 20,000 m² shop area with **5,100 m² under hook**. - Capacity for equipment up to **5m diameter, 10m height, 75 MT weight**; larger items via **site fabrication**. - Just **50 km from Chennai Port**, enhancing export logistics. - UStamp certified and EIL-approved for **SILO** manufacture. - Contributes **2,000 MT/year** of fabrication capacity. #### **Engineering Design Center** - Located in **Vadodara, Gujarat**, serving as a **dedicated R&D and design hub**. - Offers advanced engineering services: - Thermal & Mechanical Design - Finite Element Analysis (FEA) - Computational Fluid Dynamics (CFD) - 3D Modeling - Supports product innovation and functions as a profit center. --- ### **Strategic Expansion Initiatives** - **Kheda Plant Expansion**: Total projected capacity of **10,000 MT/year** (up from 6,000 MT), expected to capture higher-value, large-scale projects. - **Acquisition of Mabel Engineers (Jul 2024)**: - Expanded geographic footprint into **Southern India**. - Added **silos, tanks, and site-fabricated vessels** to product portfolio. - Enhances access to **Southeast & Far East (SEFE) export markets**. - Expected to **double Mabel’s turnover in FY25-26**. - **Dedicated Clean Room Facilities** for handling **exotic materials** like Titanium, Inconel, and bimetallics — resumed Titanium equipment manufacturing after a long gap. --- ### **Market Presence & Customer Base** #### **Industries Served:** - Oil & Gas - Petrochemicals - LNG / Floating LNG (FLNG) - Fertilizers - Hydrogen (Green/Blue) & Green Ammonia - Chemicals & Pharmaceuticals - Power - Water & Wastewater - Paper & Pulp - Aerospace #### **Geographic Reach:** - **Global presence in 34+ countries** across five continents. - Key markets: - **Middle East** (e.g., Jordan, Israel) - **Southeast Asia** - **CIS countries** - **Americas (including USA)** - **Africa** (South Africa, Nigeria, Algeria) - Clients include **TATA Projects, Petrofac, McDermott, Solvay, Bluekraft, Sumitomo, Atul, Roquette, IFFCO, HPCL**. --- ### **Order Book & Financial Performance** - **Pending Order Book (Nov 2025): ₹568 crore**, including **₹49 crore in Letters of Intent**. - Aligned with **full-year FY26 growth guidance**. - **55% domestic, 45% export** — a shift from historically export-heavy (57% in Jul 2024), indicating **domestic market recovery**. - **Exports** still strong at ~54%, with focus on **natural gas, hydrogen, and petrochemical projects in the Middle East**. - **Revenue from engineered equipment segment: ~$87 million (Aug 2025)**. --- ### **Technological & Metallurgical Expertise** Anup Engineering handles a **broad spectrum of metallurgies**, including: - **Low Alloy Steels**: 9Cr1Mo/V, 2.25Cr1Mo - **Carbon Steels**: SA516 Gr 70, HIC/NACE compliant - **Stainless Steels, Duplex/Super Duplex**: 31803/32205, 32750 - **Exotic Alloys**: Titanium (Gr. 1/2/7/16), Hastelloy C22/276, Alloy 825/625, Monel 400 - **Bimetallic & Clad Materials** #### **Recent Technical Milestones:** - Manufactured **first Cr-Mo-V modified material equipment** for Indian client (Jul 2025). - Producing **200 MT single-piece Solid Inconel equipment** for export. - Delivered **largest shop-built equipment**: - 6.7m diameter × 44m long vessels (CS + SS clad), ~250 MT each, for **IFFCO Phulpur & Aonla**. - Built **super duplex condensers (SA789 S32750 tubes)** for **Koerting (HPCL RUF project)**. - **First-time deliveries** in FY23: Polymerization reactor, secondary reformer, FLNG offshore order. --- ### **Operational & Strategic Advantages** - **Proximity-based supply chain**: All facilities within **~40 km of major tube manufacturers**, reducing lead times. - **Export logistics optimization**: - Gujarat plants: **350–550 km to Kandla, Mundra, Nhava Sheva**. - Chennai plant: **50 km to Chennai Port**. - **On-time delivery record** – a key differentiator in global bidding. - **Proprietary technologies (Helixchanger, Embaffle)** add value differentiation.