Pennar Industries secures orders worth Rs550cr in February 2020

The current order book position for Pre-engineered Buildings division stood at Rs455cr, Railways division at Rs290cr and Water Treatment Solutions at Rs78cr.

Mar 09, 2020 12:03 IST India Infoline News Service

Pennar Industries
Putting up a strong showing, Pennar Industries Limited, a leading value-added engineering products and solutions company, announced that it has bagged orders worth Rs550cr across its business verticals during the month of February 2020.
 
The Pre-Engineered Buildings division received orders for Manufacturing Plants, Airport Terminal, Solar Mounting Structures and Warehouses from leading names such as MRF, Mega Wide – GMR GoaAirport, Azure Power, Saffron Grid, TVS ILP, and Indus Project.
 
The Railways division received orders from customers such as SAIL Rites, Integrated Coach Factory, and Universal Engineering.
 
The Steel division received orders from Adani, L&T, Tata Nuevosol Energy, L.G.Balakrishnan, Steel Mart, Schaeffler, JM Frictech and others.
 
The Tubes division received orders from Alf Engineering, VE Commercial, TVS Ancillaries, BajajAncillaries and others, besides Export orders from Sourcing Systems, USA and Steel Tube Investments,USA. The Industrial Component division received orders from Emerson, Endurance, Tecumseh, INEL, Yamaha, Ashok Leyland, IFB, WABCO, Firestone and others.
 
The current order book position for Pre-engineered Buildings division stood at Rs455cr, Railways division at Rs290cr and Water Treatment Solutions at Rs78cr.

K M Sunil, Vice President – Corporate Strategy said, “The performance of the Company is very heartening given the present challenging market scenario. All the verticals received good orders during February, which augurs well for the future.”

Pennar Industries Ltd is currently trading at Rs21 down by Rs0.85 or 3.89% from its previous closing of Rs21.85 on the BSE.
The scrip opened at Rs21.10 and has touched a high and low of Rs21.30 and Rs19.55 respectively. So far 3,24,050 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs332.90cr.

Related Story