scorecardresearch

Pennar Industries Reports 24.3% Increase in Consolidated Net Revenue and 13.7% Increase in Consolidated PAT (Excluding Non-recurring Item and Exceptional Item)

(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, May 28, 2019/PRNewswire/ --Pennar Industries Limited (PIL), a leading value-added engineering products and solutions company, today announced its audited financial results for the fourth quarter and twelve months ended on March 31, 2019.Consolidated Financial Highlights - FY2019 Net Revenue at INR 2,160 croreEBITDA at INR 200 crore; EBITDA margin at 9.3%PAT at INR 66.7 crore* Note: FY 2018 EBITDA and profit after tax included exceptional and non-recurring items of approximately Rs 57.1 crore and Rs 31.9 crore respectively. On a like to like comparison, Revenue, EBITDA and net profit for FY2019 are up 24.3%, 12.6% and 13.7% respectively.Business Highlights - Q4 FY2019 During Q4, PIL continued to receive 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 472 crore as on March 31, 2019. The order book position for water treatment & chemicals segment as on March 31, 2019 was Rs 85 crore. Among the various verticals, railways reported 67.0% revenue growth during the year whereas tubes division and industrial component divisions grew by 32.3% and 30.9% respectively. Steel products division grew by 10.5% during the year. Pre-engineered buildings segment grew by 18.5% during the year.Commenting on the financial performance, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited said, "We concluded FY19 with strong top-line growth on the back of steady order inflow. Recently, we received NCLT approval for the merger of PEBS Pennar and Pennar Enviro with Pennar Industries. These two are very important business segment for us and as one entity we hope to create better cost structure, bring agility and improve profitability during coming quarters."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, Enertech Pennar Defense and Engineering Systems Pvt. Ltd. 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, Isnapur, 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