The Anup Engineering Limited (TAEL), a leading manufacturer of static process equipment, has reported its financial results for the second quarter of fiscal year 2025-26, alongside a significant leadership change at the helm of the company.

Financial Performance

For the quarter ended September 30, 2025, TAEL reported:

The company witnessed a substantial year-on-year revenue growth of 23.83%, with total income rising to ₹2,326.44 crore from ₹1,878.73 crore in the same quarter of the previous year. This growth was primarily driven by increased sales in the engineering products segment.

Despite the robust top-line growth, net profit saw a marginal decline of 0.89%, settling at ₹320.26 crore compared to ₹323.15 crore in the corresponding quarter last year. The slight dip in profitability may be attributed to increased operational costs and changes in the product mix.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) showed a healthy increase of 20.05%, rising from ₹429 crore to ₹515 crore. However, the EBITDA margin experienced a slight contraction, decreasing by 66 basis points to 22.20% from 22.86% in the previous year.

Leadership Transition

In a significant development, TAEL announced a change in its top leadership. Mr. Sanjay S. Lalbhai has stepped down from his position as Chairman and Non-Executive Director of the company, effective November 10, 2025. This move is part of the company's succession planning process.

The Board of Directors has appointed Mr. Punit S. Lalbhai, who previously served as Vice-Chairman, as the new Chairman of TAEL. This transition aims to ensure continuity in leadership and sustain the company's growth trajectory.

Commenting on his departure, Mr. Sanjay Lalbhai stated, "It has been an honour to serve on the Board of The Anup Engineering Limited and witness its evolution into a leading player in the engineering industry. I am confident that under Punit's leadership, TAEL will continue to build on its strong foundation and deliver sustainable, long-term value for all stakeholders."

Mr. Punit Lalbhai, expressing his vision for the future, said, "I am honoured to take on the role of Chairman at The Anup Engineering Limited. As we move forward, I look forward to working closely with Mr. Reginaldo D'Souza, our Managing Director & Chief Executive Officer, and the entire TAEL team to drive innovation, strengthen customer relationships, and create enduring value for all stakeholders."

In addition to this change, the Board has appointed Mr. Kulin S. Lalbhai as an Additional Director in the capacity of Non-Executive Director, subject to shareholder approval.

These leadership changes, coupled with the company's financial performance, signal a new chapter for The Anup Engineering Limited as it continues to navigate the dynamic engineering sector.

The Anup Engineering Limited (ANUP) has announced the termination of its manufacturing and supply agreement with Graham India Private Limited and Graham Corporation, USA. The cessation of the agreement, which was originally entered into on August 30, 2024, will take effect from October 2, 2025.

Mutual Decision

According to a regulatory filing by The Anup Engineering, both parties have mutually agreed to discontinue the agreement in its current form. The decision comes in light of the "current dynamic operational and strategic environment," as stated in the company's disclosure to the stock exchanges.

No Material Impact Expected

Importantly, The Anup Engineering has clarified that the termination of this agreement is not expected to have any material impact on its operations or financial performance. The company stated that no business transactions were executed during the tenure of the agreement, and there are no pending orders to be fulfilled.

Continuing Relationship

Despite the termination of the manufacturing agreement, The Anup Engineering emphasized that its relationship with Graham Group remains strong. Both companies intend to continue their pre-existing buyer-supplier relationship in both domestic and international markets.

Future Outlook

The Anup Engineering has reassured investors that its guidance for the full fiscal year 2026 and beyond remains unchanged. The company does not anticipate any impact on its future performance as a result of this agreement cessation.

About the Original Agreement

The original manufacturing and supply agreement, signed in August 2024, was intended to allow The Anup Engineering to manufacture, supply, and deliver products for Graham's Indian and overseas customers. However, no transactions were actually executed under this agreement during its tenure.

This development underscores the dynamic nature of business partnerships in the engineering and manufacturing sector, highlighting the importance of adaptability in response to changing operational and strategic environments.