Pennar Industries Ltd Share Price – NSE /  BSE

Steel, Small Cap

Net profit of Pennar Industries rose 19.93% to Rs 30.45 crore in the quarter ended December 2024 as against Rs 25.39 crore during the previous quarter ended December 2023. Sales rose 12.75% to Rs 839.72 crore in the quarter ended December 2024 as against Rs 744.75 crore during the previous quarter ended December 2023.

Powered by Capital Market - Live News

Pennar Industries will hold a meeting of the Board of Directors of the Company on 14 February 2025.

Powered by Capital Market - Live News

The proposed joint venture company will be formed to carry on the business of manufacturing and sale of solar modules, including the development and operation of the manufacturing unit.

In the proposed JVC, Zetwerk will hold 50.1% stake, Pennar would hold 45% and the remaining stake 4.9% will be held by others.

The company would invest a sum of Rs 18.75 crore in the proposed joint venture entity.

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 19.2% to Rs 26.85 crore despite 8.2% decline in net sales to Rs 747.61 crore in Q2 FY25 over Q2 FY24.

Powered by Capital Market - Live News

Pennar Industries has executed a joint venture agreement with Zetwerk Manufacturing Businesses and Others on 31 December 2024 for incorporation of a joint venture company.

The proposed joint venture company will be formed to carry on the business of manufacturing and sale of solar modules, including the development and operation of the manufacturing unit.

The shareholding in the proposed joint venture company is as under:
1. Zetwerk Manufacturing Businesses - 50.1%
2. Pennar Industries - 45.0%
3. Others - 4.9%

Powered by Capital Market - Live News