Pennar Industries net revenue soars to Rs 2,160 cr in FY19

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 crore EBITDA 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 a 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."