Pennar Group Bags Orders Worth INR 317 Crore

HYDERABAD, India, November 22, 2018 /PRNewswire/ --

Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth INR 317 crores across its various business verticals and the subsidiary, PEBS Pennar.

The Group's flagship company Pennar Industries Limited (PIL) received multiple orders aggregating INR 190 crore across its business verticals such as railways, tubes and industrial components. These orders were received from PIL's long-standing customers, including Solis Engineering, JM Infratech, IFB, Ashok Leyland, Tecumseh, Wabco, Mahindra, Salem Steel, etc.

Pennar Engineered Building Systems (PEBS Pennar), a leader in pre-engineered buildings and a PIL subsidiary, received orders aggregating INR 127 crore. The company is witnessing significant demand for pre-engineered warehouses and factory buildings. The new orders received by PEBS Pennar were from customers such as Pokarna Limited, Gemini Oils, Suguna Foods, Rain CII, Twenty One Sugars, Aequs SEZ, etc.

Commenting on the recent wins, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited said, "We are excited about the business prospects across our business verticals. Our railways, steel and tubes divisions have received major orders which we will execute over the next couple of months. With economic activities picking up, demand for Pre-engineered Structures is increasing. PEBS Pennar is one of the most trusted names in the pre-engineered buildings business and will be the biggest beneficiary of the higher demand in the sector. PEBS Pennar has an order book of INR 422 crore as on date which will be executed within the next 7-12 months."

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. All Pennar 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 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 

Media Contact:
K M Sunil
Vice President - Corporate Strategy
Pennar Industries Limited
+91-9704444606
[email protected]

Mehul Mehta
President
Dickenson Group
+91-9820280325
[email protected]