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Pennar Group bags orders worth Rs 582 cr across multiple business verticles – EQ Mag Pro

Pennar Group bags orders worth Rs 582 cr across multiple business verticles – EQ Mag Pro

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Pennar Group, a value-added engineering products and solutions company, has bagged a total orders worth Rs 582 crore across its various business verticals.

The Pennar Group consists of Pennar Industries, Saven Technologies and Pennar Engineered Building Systems.

As per Pennar Industries’ exchange filing, the Pre-Engineered Building vertical received orders for construction of manufacturing facilities, ware houses, solar P V modules, structural steel from customers like Ultratech Cement, Shri Digvijay Cement, Matrix Structure, Lodha Group etc.

The Solar Module vertical received orders from Anantapur Energy Products, Eveready Group among others.

The Railways vertical has received orders from Wabtech, Dynamic, Orbinox, ICF, SCR, and TI Metal etc.

The Industrial Components vertical has received orders from Emerson, Endurance, Haldex, AASA, Wabco, Tecumseh, INEL, Elkhart, Venus, SI Airspring among others.

The Steel vertical has received orders from Zetwerk Manufacturing, Saint Gobain, Thermax, LG Balakrishnan, Schaeffler India, Toshiba Transmission etc.

Overseas, Pennar Group’s US subsidiaries have booked orders worth Rs 186 crore from customers like James Hardie, Aspyre Design and Indian Creek Movie Studios.

The company reported a consolidated net profit of Rs 8.14 crore in Q2 September 2021 as against net profit of Rs 0.57 crore in Q2 September 2020. Net sales surged 41.3% to Rs 551.70 crore in Q2 September 2021 over Q2 September 2020.

Shares of Pennar Industries dropped 3.70% to close at Rs 29.95 on Friday, 17 December 2021. Pennar Industries is engaged in the manufacture of steel products, including cold rolled steel strips (CRSS) and cold formed metal profiles.

Source: Capital Market

Anand Gupta Editor - EQ Int'l Media Network