Pennar Industries' arms bag Rs 150-cr orders

Major orders include solar module mounting system for a 30-Mw solar power plant from Azure Power and building a 1,100-tonne sheet pile from L&T GeoStructure

Pennar Enviro Limited (PEL) and Pennar Engineering Buildings Systems (PEBS), subsidiaries of Pennar Industries Limited, a Hyderabad-based company engaged in the production and marketing of specialised and engineered steel solutions, have received orders worth Rs 150 crore.

The companies received orders from Phoenix, Ultratech Cement, IOT Anwesha Engineering and Construction Limited, JSW Cement, Dhunseri Petrochem, United Spirits Limited, Azure Power, Mahindra EPC, Sterling Wilson, L&T, Integral Coach Factory, Texmaco and Besco.

"We have started realising the benefits of the turnaround in the Indian economy. Our order book across all the divisions is increasing. We have received our first major residential high-rise building order (from Phoenix in Hyderabad) in PEBS. Our orders from solar projects and railways have also trended up," Aditya Rao, chairman and managing director of Pennar Industries, said in a filing to the BSE on Wednesday.

Among others, the Pennar subsidiaries received a major order for solar module mounting system for a 30-Mw solar power plant from Azure Power in Chhattisgarh and a 1,100-tonne sheet pile order from L&T GeoStructure.

Pennar Industries Limited's scrip is trading at Rs 54.40 on the BSE, up 1.97 per cent, over the previous close of Rs 53.35 a share.