Pennar's consolidated net profit increases by 50%

The consolidated results for Pennar Industries and its subsidiary Pennar Engineered Building Systems for Quarter ended 30th September 2010 and the comparison with Pennar Industry’s stand – alone results for second quarter 2009 are given below:

• Net Profit for Q2 FY’11 Rs.18.13 Cr. an increase of 50% over Q2 FY’10.
• EBIDTA for Q2 FY’11 Rs.36.31 Cr. an increase of 44 % over Q2 FY’10.
• Sales for Q2 FY’11 Rs. 310.96 Cr. an increase of 59 % over Q2 FY’10.
• Basic EPS Rs. 1.49 (not annualized) and cash EPS of Rs. 1.93 (not annualized) per share of Rs.5 
• Interim Dividend @10% declared for FY 11

Pennar’s consolidated net profit for the quarter ended September 2010 was Rs. 18.13 cr., reflecting the Company’s highest ever profit in a Quarter, an increase of 50% compared to sales in the corresponding quarter  last year.  Gross sales were Rs. 310.96 cr. reflecting an increase of    59 %.  The EBIDTA and PBT for the quarter were Rs. 36.31 cr and Rs. 29.09 cr respectively. On an annualized basis, consolidated basic EPS and cash EPS for the quarter amount to Rs. 5.96 and Rs. 7.72 respectively per share of Rs 5/- each.

The consolidated gross sales for half year ended 30th September, 2010 were Rs 629.94 cr., gross profit was Rs. 71.03 cr. and the net profit was Rs 35.17 cr.

The Board of Directors at its meeting held on 21st October, 2010, declared an interim dividend of 10% for FY11.

Pennar has completed the expansion of its plant at Isnapur, near Hyderabad, to cater to the growing demand from Building, Railways and Pollution control segments.

About Pennar Industries
Pennar has demonstrated continuous growth by registering growth in profits on a quarter-on quarter basis for the last twenty- four consecutive quarters.

Pennar’s subsidiary, Pennar Engineered Building Systems Limited (PEBS) has a 30,000 ton per annum capacity manufacturing facility set up in 2010 at Sadashivpet near Hyderabad.  PEBS, which commenced commercial production in January 2010, is engaged in the design, manufacture, supply and erection of pre-engineered steel buildings and building components catering to the requirements of factories, ware houses, commercial centers, multi-storied buildings, aircraft hangars and sports complexes.

Pennar currently has six manufacturing plants located at Patancheru, Sadashivpet and Isnapur near Hyderabad, Chennai, Tarapur (Maharashtra) and Hosur (Tamil Nadu) with a total capacity of 245,000 TPA.