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Pennar Group Bags Orders Worth INR 309 Crore

(Eds: Disclaimer: The following press release comes to you under an arrangement with PR Newswire. PTI takes no editorial responsibility for the same.) HYDERABAD, India, January 2, 2019/PRNewswire/ --Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth INR 309 crores across its various business verticals and the subsidiary, PEBS Pennar.The Group's flagship company Pennar Industries Limited (PIL) received multiple orders aggregating INR 124 crore across its business verticals such as railways from Integrated Coach Factory, Modern Coach Factory, etc.; for Hydraulics and industrial components from customers like Emerson, Endurance, Firestone, etc. and the solar and building components division received orders from L&T, PES Engineers, IFB, LG Balakrishnan, Wahi Sons, Bimetal Bearings, etc.Pennar Engineered Building Systems (PEBS Pennar), a leader in pre-engineered buildings and a PIL subsidiary, received orders aggregating INR 125 crore. The company is witnessing significant demand for pre-engineered warehouses, Hi-Rise buildings, factory buildings and structural steel works from customers such as Natco Pharma, Baranagar Jute, Allcargo Logistics, Phoenix, Renaissance Infra, Lakshmi Automotive and Gemini Edibles. With the recent wins, the order book of PEBS Pennar stands at INR 480 crore.Pennar Enviro has bagged orders worth INR 60 crores for design and supply of water treatment plants from Reliance, JSW and an upcoming green field project from a cement major.Commenting on the recent wins, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited, said, "We continue to find good traction across our business verticals and subsidiaries. While the Railways division received large orders, we are particularly excited to have received orders worth INR 60 crore for water treatment plants and a single large order worth INR 62 crore for Structural Steel. The recent orders are from our existing as well as new customers which are industry leaders in their respective businesses. We expect steady order inflow during this last quarter of FY2019."About Pennar Industries Limited: Pennar Industries (NSE: PENIND) (BSE: 513228) is India's leading value-added engineering products and solutions company. The Company has a strong presence across growth sectors in India through four business units Railways, Tubes, Industrial Components and Steel Products, and its subsidiary companies, Pennar Engineered Building Systems Limited, Pennar Enviro Limited and Pennar Global Inc. Pennar's all the manufacturing units are ISO 9001:2008-certified and the Company has presence across 10 industry verticals. Pennar has over 30 years of rich experience and more than 1,000 precision engineered products, 2,500 tools and dies, over 600 customers and seven manufacturing plants located at Patancheru, Sadashivpet, lsnapur, Velchal and Mallapur near Hyderabad, Chennai in Tamil Nadu and Tarapur in Maharashtra. For more information, please visit http://www.pennarindia.com.DISCLAIMER: This release contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Pennar's future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macroeconomic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Pennar undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances Source: Pennar Industries Limited PWRPWR