Pennar Industries Share Price

Pennar Industries Ltd (Formerly known as Pennar Steels Ltd), incorporated in Aug.75, was promoted in the joint sector by J Naresh Kumar along with the Andhra Pradesh Industrial Development Corporation (APIDC). The Company is one of the leading engineering organisations in India and is well known for its expertise in providing engineered products and engineering solutions. It manufactures coldrolled coils (CRCs) of narrow width, upto 700 mm, which are supplied to the automobile and the white goods industries. The Company started its journey with first manufacturing plant at Isnapur, near Hyderabad, and since then, has established itself as diversified engineering company with endtoend capabilities. Having a strong pedigree and engineering excellence, and the Company has merged Pennar Engineered Building Systems Limited, Pennar Enviro Limited, into Pennar Industries Limited (PIL), after which it accumulated a wide spectrum of engineered products and customised turnkey engineering solution under its belt, catering to a range of high growth sectors. Thereafter, the Company diversified its engineered products and engineered solutions broadly across six sectors namely Automobiles, Construction Infrastructure, General Engineering, White Goods, Railways and Solar.In 198990, the company undertook an expansion programme to increase the capacity from 12,000 tpa to 60,000 tpa in phases. In the first phase, its capacity was increased to 36,000 tpa, which was completed in 199091. In 199192, PSL set up a joint venture company Thomas Betts Pennar, in collaboration with Thomas Betts Corporation, US, to manufacture certain types of electronic connectors.PIL diversified in 199394 by setting up a 3MW wind energy farm near Coimbatore, Tamilnadu, and setting up a project to manufacture valueadded pressed and fine blanked metal components, which became operational in 199495 and 199596 respectively. In Sep.95, it received the ISO 9002 certification from RWTUV, Germany.In 19992000, the company acquired manufacturing facilities in the cold forming sections/products of the Tube Investments of India Ltd at Tarapur and Chennai. Since more than 50% of the networth was fully eroded on 30th June,2001 the company become a sick industrial company. In 2007, the Precision Tube Line was commissioned for making products for the auto, transportation and construction sectors. A new fabrication shop also commissioned for making structures for Electro Static Precipitators (ESPs), boilers and seed processing plants. The Companys new plant at Chennai with steel profiling, cutting, slitting lines and heavy duty pressing facilities commenced commercial production from April, 2008. Pennar Engineered Building Systems Limited (Pebs), became a subsidiary in June, 2009 and commenced commercial production effective Jan.01, 2010. The Company launched new product lines including CDW/ERW tubes, sheet pilings and solar structurals in 201112. The expansion of manufacturing facilities at its Isnapur and Tarapur plant also added new production capacity for CDW tubes and increased capacities for precision tubes for automobiles and fabrication facilities. The Company in year 2019, added New Product range in the existing including Jack CylinderBailey, Action Construction Equipment, AGCO, KoneElevator Bed Plate, DTX Rod clevis, and Venus Bottom Cover.During the year 202122, the Company disposed its 100% shareholding in M/s. Oneworks BIM Technologies Private Limited, resulting the said Company ceased to be a subsidiary of the Company effective from 31st August, 2021. In 202223, the wholly owned subsidiary by the name of Pennar Metals Private Limited was incorporated on June 22, 2023.