Pennar Industries jumps on bagging orders of Rs. 304 crore during September

Pennar Industries Limited has announced to the bourses that it has bagged orders worth Rs 304 crore across its business verticals during the month of September 2019.

The Pre-Engineered Building division received orders for construction of warehouses and factory buildings from Wipro Personal Care, Phoenix IVY, Specialized Anila Foods and SS Developers. The order book position for Pre-engineered buildings business unit stands at Rs 430 crore. The revenue from this segment has shown significant growth of 54 per cent in FY19 on yoy basis.

The Railways vertical received orders from the Integrated Coach Factory, Tube Investments, Universal Engineering and Rites. The order book position for the Railways business unit is at Rs 250 crore.

The Steel Business vertical has received orders from Thermax, Sterling LGB, IFB and Toshiba. The Industrial Components vertical received orders from Emerson, Endurance, Tecumseh, Bailey and BEML.

The Tubes vertical has received orders from ALF Engineering, GI Auto, Patton International TTP Technologies, VE Commercial Vehicles and Thermax.

The Enviro division received new orders from JSW Steel, Aurobindo Pharma CINDA Engineering & Construction and for a demineralization Plant, potable water package and wastewater treatment.

The company has been receiving repeat orders from reputed customers like L&T, Ultratech, Shapoorji & Pallonji, TVS Infra etc. In Solar MMS, it received sizeable job from LNV technologies.

Reacting to the announcement, the stock of Pennar Industries surged 8 per cent making intra day high of Rs. 27 from its previous close of Rs. 25. It closed at Rs. 26.30.