52-Week High Alert: Steel Company Establishes New Manufacturing Plant in Raebareli, Uttar Pradesh; Stock Surges Over 140 per cent in One Year!

The company’s shares have delivered an impressive return of over 400 per cent in the past 2 years.

Pennar Industries Limited, a diversified company producing precision engineering products, Pre-Engineered Building Systems, and Hydraulics and Warehousing solutions, is expanding its manufacturing footprint in Northern India. The company is establishing a new plant in Raebareli, Uttar Pradesh, slated for completion in Q2 2024. Spanning 16 acres with a built-up area of 12,000 square meters, the facility boasts a production capacity of 36,000 MT per annum. It is equipped with advanced machinery and infrastructure, positioning Pennar Industries to efficiently serve clients in Northern and Eastern India while reducing logistics costs significantly.

Currently while writing this article Pennar Industries Limited shares are at Rs 187.30 per share. The company’s current market capitalization stands at Rs 26477 crore. The stock has delivered a return of over 140 per cent in just 1 year.

As per the Quarterly Results, in the fourth quarter of FY24, Pennar Industries Limited recorded a revenue of Rs 823 crore. The operating profit for Q4 FY24 stood at Rs 65 crore. The net profit for Q4 FY24 was Rs 29 crore. Looking at the annual performance, the company generated a revenue of Rs 3131 crore in FY24, compared to Rs 2895 crore in FY23. The operating profit for FY24 was Rs 273 crore, with a net profit of Rs 98 crore.

Regarding the shareholding pattern, the promoters own 39.62 per cent of the company and the public or retail investors hold 55.48 per cent. FIIs and DIIs own 4.62 per cent and 0.27 per cent respectively.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.