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Pennar Group bags orders worth INR 302 crore

Posted On: 2019-03-07 14:49:37

Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth INR 302 crores during the month of February 2019, across its various business verticals and the subsidiary, PEBS Pennar.

The Group's flagship company Pennar Industries Limited (PIL) received multiple orders aggregating INR 187 crore across its business verticals. The orders received were from Integrated Coach Factory, Titagarh and Sail Rites for Railway products, Solis, Thermax, IFB, Puzzolana, Schaeffler India and Toshiba, for Solar Module Mounting Structures, Panels and Channels, for CRFS and CRSS products, ALF Engineering, Royal Enfield, Thermax, for tubes and Emerson, Endurance, Tecumseh, Ashok Leyland, Yamaha, Xylem, etc. for Industrial Components and Hydraulics.

Pennar Engineered Building Systems (PEBS Pennar), a leader in pre-engineered buildings and a PIL subsidiary, received orders aggregating INR 115 crore. The new orders received by PEBS Pennar were for warehouses, manufacturing facilities, tower and solar structures from customers such as TVS Infrastructure, Hindustan EPC, BVG India, Aro Granites, etc. PEBS Pennar has an order book of INR 487 crore as on date which will be executed within the next 7-12 months.

Commenting on the recent wins, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited said, "The new orders that we received are from our long standing existing customers as well as some new customers who believe in Pennar brand, its quality engineered products and timely delivery. With companies making further investment in capacity building, we are hoping to sustain incremental order inflows in the coming months as well."

Shares of PENNAR INDUSTRIES LTD. was last trading in BSE at Rs.39.55 as compared to the previous close of Rs. 37.55. The total number of shares traded during the day was 50388 in over 364 trades.

The stock hit an intraday high of Rs. 39.8 and intraday low of 37.7. The net turnover during the day was Rs. 1965536.


Source: Equity Bulls

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