Pennar Industries bags orders worth INR 517 Crore

Pennar Industries Limited, a leading value-added engineering products and solutions company today announced that it has bagged orders worth INR 517 crore across its business verticals during the quarter ending 30th September 2020.

The Pre-Engineered Building vertical received orders for construction of manufacturing facilities, ware houses, solar P V Modules, power plant structures from various companies like Kaizen Industries, Asian Fabtec, Ambuja Cements, Azure and others. The current order book position for Pre -engineered buildings business unit stands at INR 280 Crores.

The Railways vertical received orders from BEML, Rites, Integrated Coach Factory, Universal Engineering and others. The current order book position for the Railways business unit is at INR 249 Crores.

The Steel vertical has received orders from Thermax, Sterling LGB, IFB, Toshiba, Adani Green Energy, L&T Solar and India Cements.

The Industrial Components vertical received orders for Hydraulic cylinders from Bailey. Other customers are Emerson, Endurance, Elkhart, INEL, Wabco, Yamaha, Kone, Elkhart and Haldex.

The Tubes vertical has received orders from Thermax, Forbes, Alf Engg, TVS ancillaries, LMW, Bajaj ancillaries and others.

The current order book position of Enviro division is Rs. 49 Crores.

K M Sunil, Vice President, Corporate Strategy said "In spite of lockdowns and challenging conditions due to Covid 19, it is heartening to note that the Company has across all its verticals have received good order inflow."

Shares of PENNAR INDUSTRIES LTD. was last trading in BSE at Rs. 18.90 as compared to the previous close of Rs. 17.6. The total number of shares traded during the day was 1.10 lakh.

The stock hit an intraday high of Rs. 21 and intraday low of Rs. 17.55.

Source : Equity Bulls

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