Pennar Inds spurts after order win

Pennar Industries surged 8.23% to Rs 79.55 after the company said it has bagged orders worth Rs 851 crore across its various business verticals.

The company has won orders from clients like Reliance, TVS ILP, Ashok Leyland, Yamaha, Emerson, Hindalco, Kirloskar Toyota, Mahindra Defence Systems, Tata Power, Saint Gobain and Texmaco, etc.

The orders were secured across various verticals, including Ascent Buildings (USA) (a step-down subsidiary of Pennar Industries), PEB (pre-engineered buildings), ICD (industrial components distribution), railways, tubes and steel.

These orders are expected to be executed within the next two quarters, the company said in a statement.

Pennar Industries is engaged in the production and marketing of specialized and engineered metal products. The company is a leading manufacturer of profiles and components in various grades of steel and stainless steel. It caters to the auto, white goods, railways and infrastructure sectors.

On a consolidated basis, net profit of Pennar Industries rose 99.16% to Rs 21.33 crore on 29.88% increase in net sales to Rs 692.22 crore in Q3 December 2022 over Q3 December 2021.

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