Pennar Group Bags Orders Worth INR 302 Crores

HYDERABAD, India, March 7, 2019 /PRNewswire/ --

Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth INR 302 crores 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 INR 187 crore 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 INR 115 crore. 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, Mr. K M 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."

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.

For further information, please contact:
K M Sunil
Vice President - Corporate Strategy
Pennar Industries Limited
+91-97044-44606
[email protected]

Mehul Mehta
President
Dickenson Group
+91-98202-80325
[email protected]