The shares of one of India’s leading industrial companies engaged in the production and marketing of specialized and engineered metal production gained 11.5 percent after it bags orders worth Rs 669 Crores.
Pennar Industries Ltd is a small-cap company with a market capitalization of Rs 1,528 crores. At 3:25 p.m., The company shares were trading at Rs 114.55 a share, an increase of 11.46 percent from the previous stock price of Rs 102.95.
According to a regulatory filing, the Company announced that it bagged orders worth Rs 669 crores across various business verticals such as PEB, Ascent Buildings, ICD, Railways, Tubes, and Steel.
Some of the well-known Clients from the aforementioned business verticals include Ashok Leyland, Titagarh, Texmaco, Thermax, Navayuga Engg, VRL, Tarheel Buildings, Joiner Construction, T&D Concrete, Power Mech Projects, and many others.
Pennar Industries Limited is engaged in the manufacturing of precision engineering products, Pre-Engineered Building Systems, Hydraulics, and Warehousing solutions.
The company’s revenue has marginally reduced from 2.2 percent year on year, from Rs 833 crores in Q2FY23 to Rs 814 crores in Q2FY24. Net profit has grown by 37.5 percent, from Rs 16 crores to Rs 22 crores.
Pennar Industries shares have delivered a return of 59 percent in the last six months and 77 percent in a year.
The company’s Net profit margin has increased from 1.84 percent in FY22 to 2.60 percent in FY23 and during the same period, the operating margin has increased from 5.92 percent to 6.55 percent.
According to the recent shareholding pattern, the company promoter holds 39.74 percent stake in the company and the retail investor holds a 55.47 percent stake.
Written by Omkar Chitnis
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