Pennar Industries announces unaudited financial results for Q3

Pennar Industries Limited (PIL), a leading value-added engineering products and solutions company, today announced its unaudited financial results for the third quarter and nine months ended on December 31, 2018.

Standalone Financial Highlights

Q3 FY 2019 Net Revenue at INR 397.1 crore; up by 32% y-o-y Q3 FY 2019 PAT at INR 11.5 crore; up by 34% y-o-y

9M FY 2019 Net Revenue at INR 1123.8 crore; up by 27% y-oy 9M FY 2019 PAT at INR 33.9 crore; up by 49%

Consolidated Financial Highlights - Q3 FY2019

Net revenue at INR 575.2 crore; up 38% y-o-y EBITDA at INR 48.7 crore; EBITDA margin at 8.5%

PAT after minority Interest at INR 13.7 crore Consolidated Financial Highlights - 9M FY2019

Revenue at INR 1569.7 crore; up 23% y-o-y

EBITDA at INR 136.3 crore; EBITDA margin at 8.7% PAT after minority interest at INR 39.1 crore

Business Highlights

During Q3, PIL and its subsidiaries received orders aggregating to INR 498 crore. These new orders were across business verticals such as building products, tubes, solar, railways, industrial components and pre-engineered buildings. Among the various verticals, revenue from railways at INR 93.8 crore contributed 22.6% to the standalone gross revenue during the quarter. Steel vertical revenue at INR 213.1 crore contributed 51% and the remaining INR 108.6 crores came in from other verticals such as Tubes and ECD etc.

Commenting on Q3 financial performance, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited said, "We are happy to report strong Q3 standalone numbers with revenue and PAT posting 32% and 34% y-o-y growth respectively. On a consolidated basis too, revenue grew by 38% y-o-y. Q3 also saw strong order inflow across verticals barring solar. Pennar Enviro received orders worth INR 62 crore during quarter. We are looking forward to end FY19 on a strong footing."

(With inputs from agencies.)