Pennar Industries Ltd Share Price – NSE  /  BSE

Steel, Small Cap

The company will establish its pre-engineered building (PEB) manufacturing plant in Northern part of India at Raebareli, Uttar Pradesh likely to come up in Q2 2024. The plant spans 16 acres and features a built-up area of 12,000 square meters. With a production capacity of 36,000 MT per annum, this facility is equipped with state-of-the-art machinery and a comprehensive setup.

Once fully operational, the plant will enable the company to meet the demands of clients in the Northern and Eastern part of India, significantly reducing transportation costs.

Pennar Industries is engaged in the manufacture of steel products, including cold rolled steel strips (CRSS) and cold formed metal profiles. It operates with 13 manufacturing plants, 5 engineering offices and 42 sales offices in India, the US and Europe.

The company’s consolidated net profit jumped 22.6% to Rs 28.61 crore on 23.1% increase in net sales to Rs 822.80 crore in Q4 FY24 over Q4 FY23.

The scrip hit an all time high of Rs 191.50 in intraday today.

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Pennar Industries is establishing its PEB manufacturing plant in Northern part of India at Raebareli, Uttar Pradesh likely to come up in Q2 2024. The plant spans 16 acres and features a built-up area of 12,000 square meters. With a production capacity of 36,000 MT per annum, this facility is equipped with state-of-the-art machinery and a comprehensive setup. Once fully operational, the plant will enable the company to meet the demands of clients in the Northern and Eastern part of India, significantly reducing transportation costs.

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Net profit of Pennar Industries rose 22.58% to Rs 28.61 crore in the quarter ended March 2024 as against Rs 23.34 crore during the previous quarter ended March 2023. Sales rose 23.09% to Rs 822.80 crore in the quarter ended March 2024 as against Rs 668.43 crore during the previous quarter ended March 2023.

For the full year,net profit rose 30.39% to Rs 98.34 crore in the year ended March 2024 as against Rs 75.42 crore during the previous year ended March 2023. Sales rose 8.15% to Rs 3130.57 crore in the year ended March 2024 as against Rs 2894.62 crore during the previous year ended March 2023.

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Pennar Industries will hold a meeting of the Board of Directors of the Company on 22 May 2024

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