Pennar Q1 net up 25.8 per cent

The company’s net revenue stood at Rs 541.4 crore compared to net revenue of Rs 466.5 crore in Q1 FY19; up 16 per cent y-o-y

By Author  |  Business Bureau  |  Published: 13th Aug 2019  6:42 pm

Hyderabad: Hyderabad-based Pennar Industries Limited (PIL), a value-added engineering products and solutions company, reported a 25.8 per cent jump in its consolidated profit after tax (PAT) after minority interest for the first quarter ending June at Rs 16.5 crore compared to PAT after minority interest at Rs 13.1 crore in Q1FY19.

The company’s net revenue stood at Rs 541.4 crore compared to net revenue of Rs 466.5 crore in Q1 FY19; up 16 per cent y-o-y. EBITDA stood at Rs 55.2 crore compared to EBITDA of Rs 45.6 crore in Q1FY19, with EBITDA margin at 10.2 per cent.

During the first quarter, PIL received steady orders across business verticals such as building products, tubes, solar, railways, industrial components and pre-engineered buildings. The order book position for pre-engineered building systems segment was Rs 554 crore as on June 30, 2019. The order book position for water treatment & chemicals segment as on June 30, 2019 was Rs 86 crore.

Among the various verticals, gross revenue from Steel Business Unit stood at Rs 190 crore, Railways revenue stood at Rs 99 crore, Tubes revenue stood at Rs 66 crore, Industrial Components revenue stood at Rs 37 crore, pre-engineered buildings division revenue stood at Rs 174.5 crore in the total gross revenue. The balance came in from other business divisions.

Commenting on Q1 financial performance, K M Sunil, VP- Corporate Strategy, Pennar Industries Limited said, “Pennar Industries started FY2020 on a strong note with a good set of Q1 numbers. Backed by incremental scheduled deliveries and projects completions, the company posted a top line y-o-y growth of 16 per cent and a robust 26 per cent y-o-y growth in profits. With a healthy order book in PEBS division and consistent order inflow from new and repeat customers, we have a positive outlook for rest of the year.”

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