Pennar Group bags orders worth Rs302cr

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.

Mar 07, 2019 09:03 IST India Infoline News Service

Pennar
Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth Rs302cr 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 Rs187cr 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 Rs115cr. 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, KM 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.”

Pennar Industries Ltd is currently trading at Rs39.90 up by Rs0.3 or 0.76% from its previous closing of Rs39.60 on the BSE.
The scrip opened at Rs38.35 and has touched a high and low of Rs40.55 and Rs37.95 respectively. So far 9,69,069 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs476.58cr.

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