Pennar Group Bags Orders Worth INR 181 Crore
HYDERABAD, India: Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth INR 181 crores across its various verticals and subsidiary company.
The Group’s flagship company Pennar Industries Limited (PIL) received multiple orders aggregating INR 131 crore across its business verticals such as building products, railways, solar, tubes, industrial components, etc. These orders were received from PIL’s long standing customers including Thermax, Mahindra, L&T, Endurance Technologies and Yamaha India.
Pennar Engineered Building Systems (PEBS), a leader in pre-engineered buildings and a PIL subsidiary, received multiple orders aggregating INR 50 crore for its various products such as pre-engineered warehouses, factory buildings and solar structures from customers such as Promeo Therapeutics, Aequs SEZ, Dongyang Engineering, My Home Constructions, etc.
Commenting on the recent wins, Mr. Aditya Rao, Vice Chairman & Managing Director, Pennar Industries Limited said, “We are witnessing sustained order inflows across our business verticals. The current business wins follow the orders worth INR 514 crore that we bagged in August 2018. Pennar makes value-added engineered products that have critical applications in multiple growth sectors. We are pretty excited with the business traction and expect the momentum to continue during the coming quarters of FY19.”
About Pennar Industries Limited:
Pennar Industries (NSE: PENIND) (BSE: 513228) is India’s leading value-added engineering products and solutions company. The Company has a strong presence across growth sectors in India through four business units Railways, Tubes, Industrial Components and Steel Products, and its subsidiary companies, Pennar Engineered Building Systems Limited, Pennar Enviro Limited and Pennar Global Inc. Pennar’s all the manufacturing units are ISO 9001:2008-certified and the Company has presence across 10 industry verticals. Pennar has over 30 years of rich experience and more than 1,000 precision engineered products, 2,500 tools and dies, over 600 customers and seven manufacturing plants located at Patancheru, Sadashivpet, lsnapur, Velchal and Mallapur near Hyderabad, Chennai in Tamil Nadu and Tarapur in Maharashtra. For more information, please visit http://www.pennarindia.com
DISCLAIMER:
This release contains statements that contain ‘forward looking statements’ including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Pennar’s future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macroeconomic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Pennar undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances.
Source: Pennar Industries Limited
