Pennar Industries will hold a meeting of the Board of Directors of the Company on 18 May 2018, to consider, approve and take on record the Audited Financial Results (Standalone and consolidated) for the financial year ended 315' March 2018.

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Pennar Industries has received Observation Letters from BSE ('BSE') and National Stock Exchange of India ('NSE') on the Scheme of Amalgamation of Pennar Engineered Building Systems and Pennar Enviro with Pennar Industries and their respective shareholders.

In their observation letter they have approved the company to file the application with the Hon'ble National Company Law Tribunal.

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Pennar Industries will hold a meeting of the Board of Directors of the Company on 12 March 2018, to consider, approve the Budget for the Financial Year 2018-19.

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The announcement was made during trading hours today, 19 February 2018.

Meanwhile, the S&P BSE Sensex was down 300.60 points, or 0.88% to 33,710.16.

On the BSE, 95,000 shares were traded in the counter so far compared with average daily volumes of 1.42 lakh shares in the past one quarter. The stock had hit a high of Rs 62.20 and a low of Rs 59.70 so far during the day. The stock hit a 52-week high of Rs 79 on 9 January 2018. The stock hit a 52-week low of Rs 40 on 10 March 2017.

The stock had underperformed the market over the past 30 days till 16 February 2018, falling 5.93% compared with 3.54% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.55% as against Sensex's 2% rise. The scrip had outperformed the market in past one year, rising 42.81% as against Sensex's 19.47% rise.

The small-cap company has equity capital of Rs 60.17 crore. Face value per share is Rs 5.

On a consolidated basis, net profit of Pennar Industries rose 24.57% to Rs 17.44 crore on 5.40% rise in net sales to Rs 414.91 crore in Q3 December 2017 over Q3 December 2016.

Pennar Industries offers specialized, engineering steel solutions.

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