Pennar Industries clocks net revenue at Rs 412 crore in Q3

Engineering products and solutions company Pennar Industries has reported consolidated net revenue of Rs 412 crore in Q3 FY21, up by 5.5 per cent from Rs 390 crore in the quarter of previous fiscal.

It posted earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 37.5 crore, which is higher by nearly 15 per cent from Rs 32.7 crore in Q3 FY20.

The profit after tax after minority interest was Rs 2.6 crore compared to Rs 24 lakh in the same period.

The company said Ascent Buildings LLC, a wholly-owned subsidiary of Pennar Global Inc, will invest 4.9 million dollars (about Rs 36 crore) for setting up a pre-engineered building (PEB) plant in the United States.

Pennar Industries had a healthy order-book position through the quarter. The order book position as on February 1 for PEBs was Rs 434 crore, for environment vertical Rs 46 crore and for railways division Rs 200 crore.

The value-added engineering products and solutions company has more than 1,000 precision engineered products, 2,500 tools and dies, over 600 customers and eight manufacturing plants located at Patancheru, Sadashivpet, Isnapur, Velchal and Mallapur near Hyderabad, Chennai in Tamil Nadu and Tarapur in Maharashtra.

( With inputs from ANI )