Pennar Industries At New 52-Week High, Bags Orders Worth Rs 851 Crore

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Pennar Industries At New 52-Week High, Bags Orders Worth Rs 851 Crore

By Malvika Gurung -- Shares of the leading value-added engineering products and solutions provider Pennar Industries (NS: PENN ) hit a new 52-week high in the morning session on Monday at Rs 79.65 apiece after the company announced that it bagged orders worth Rs 851 crore across its various business verticals.

The orders are expected to be executed within the next two quarters.

The company won orders across businesses including PEB, Ascent Buildings (USA), Railways, ICD, Tubes and Steel.

Reliance (NS: RELI ), Larsen & Toubro (NS: LART ), Ashok Leyland (NS: ASOK ), Tata Power (NS: TTPW ), Hindalco (NS: HALC ), Integral Coach Factory, Thermax (NS: THMX ), TVS ILP, Mahindra Defence Systems, and Oriental Electrical are among Pennar Industries’ notable customers.

Other key names include Brownlee Construction, Midwest Contracting, Gateway Building Systems, Monteith Construction, Premier Energies, Venus, Wabtec, IFB Automotive, Toyota Boshoku, Contour Steel, JSSL, IFB Industries, Fujitech, 3600 LLC, Fleetguard, Texmaco, RSB Transmissions, Primex, L G Balakrishnan, and Andrew Race Cars, among others.

In the December 2022 quarter, Pennar Industries’ profit after tax (PAT) rallied by 97.19% YoY to Rs 21.12 crore and net revenue surged by 29.88% YoY to Rs 692.22 crore.

The EBITDA jumped 40.6% YoY to Rs 66 crore in the December quarter. In the past one year, the small-cap stock has jumped by a whopping 96.8%.

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    After 6 month pennar Stock price 160 Almost double wait and watch
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