Pennar Industries win orders worth Rs 550 crore in February

On Monday, value-added engineering solutions company, Pennar Industries informed the bourses that it has won total orders to the tune of Rs 550 crore for the month of February 2020. The orders received were spread amongst the company's pre-engineered buildings, railways, steel, tubes and industrial component division.

The company's pre-engineered buildings division received orders for manufacturing plants, airport terminals, solar mounting structures and warehouses from leading names such as MRF, Mega Wide-GMR Goa Airport, Azure Power, Saffron Grid, TVS ILP, and Indus Project. Whereas, on the other hand, its railway’s division, received orders from clients such as SAIL Rites, Integrated Coach Factory, and Universal Engineering.

The company's current order book position for its pre-engineered buildings division stood at Rs 455 crore, railways division at Rs 290 crore and water treatment solutions at Rs 78 crore.

Pennar Industries Limited is engaged in the manufacturing of steel products, including Cold Rolled Steel Strips (CRSS) and cold-formed metal profiles. In addition, it offers CRSS and CRFS for applications, such as building components and infrastructure, automobile profiles, metal crash barriers and sheet piles.

On Monday, the stock closed at Rs 21.20, down by 2.97 per cent or Rs 0.65 per share. The 52-week high is Rs 40.30 and the 52-week low is Rs 19.55 on BSE.