HYDERABAD, India, May 13, 2019 /PRNewswire/ —
Pennar Group, a leading value-added engineering products and solutions company, today announced that it has bagged orders worth INR 311 crores during the month of April 2019 across its various business verticals.
The Group’s flagship company Pennar Industries Limited (PIL) received multiple orders aggregating INR 173 crore across its business verticals. The orders received were from Integrated Coach Factory, Rail Coach Factory and Universal Engineering for railway products; Emerson, Endurance, Wabco, Ashok Leyland, Yamaha for industrial components; Sterling & Wilson, Hammon and Thermax for CRFS products; IFB, L G Balakrishnan and Wahi Sons for CRSS products and various customers from the automobile industry for tubes.
Pennar Engineered Building Systems (PEBS Pennar), a leader in pre-engineered buildings, received orders aggregating INR 138 crore. The new orders received by PEBS Pennar were for warehouses and manufacturing facilities from customers such as Natco, MRF and Cyient. This is the third repeat order from MRF and one of the biggest for PEBS Pennar.
Commenting on the recent wins, Mr. K M Sunil, Vice President – Corporate Strategy, Pennar Industries Limited, said, “We are happy to report a steady increase in order inflow from our long standing existing customers as well as new customers. While the demand for Pennar’s value-added engineering products continue to remain robust, the demand for the Pre Engineered Buildings in particular has improved significantly, as reflected by repeat orders from our existing customers.”
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
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