This capital goods company bags order worth Rs 682 crore

Orders are expected to be executed within the next two quarters 

About the order 

Pennar Industries has bagged orders worth Rs 682 crore across its various business verticals including PEB (Pre-Engineered Building); Ascent Buildings, USA, ICD; Railways; Tubes; and Steel. The orders are expected to be executed within the next two quarters.

Company profile 

Pennar Industries is one of India’s leading industrial organizations offering specialized, engineering steel solutions. The company is a multi-location, multi-product company manufacturing cold-rolled steel strips & tubes, cold-rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components, and road safety systems.

Propelled by liberalization and globalization of the Indian economy, Pennar acquired Nagarjuna Steel Ltd., Patancheru (32 KM from Hyderabad), and Press Metal, a unit of Tube Investment(TI), at Tarapur near Mumbai.

Growth drivers 

The company is involved in product manufacturing of Cold Rolled Formed Profiles which are used in Commercial & Passenger Vehicles, Railway Coaches & Wagons, Industrial Buildings, Pollution Control equipment, and Door & Window Frames for Housing. PEB Systems consist of elegant lattice-type portals made of cold-formed profiles or portals of plate girder construction and many other such products.

Major customers of the company include TVS Motors, Electrolux, Honda Siel, Tata Motors, Eicher Motors, Alstom Power, LLOYDS, N.R Steels, L&T -ECC Division, and many more.

Stock price movement  

Pennar Industries is currently trading at Rs 74.70, down by 0.03 points or 0.04% from its previous closing of Rs 74.73 on the BSE. The scrip opened at Rs 76.06 and has touched a high and low of Rs 77.86 and Rs 74.32 respectively. So far 84,378 shares were traded on the counter. 

The BSE group 'B' stock of face value of Rs 5 has touched a 52-week high of Rs 85.98 and a 52-week low of Rs 31.05. Last one week high and low of the scrip stood at Rs 76.74 and Rs 70.05 respectively. The current market cap of the company is Rs 998.60 crore. 

The promoters holding in the company stood at 39.74%, while Institutions and Non-Institutions held 4.89% and 55.37%, respectively.