Pennar Industries Ltd Share Price

History of Pennar Industries Ltd

Pennar Industries Limited, formerly known as Pennar Steels Limited, incorporated in August, 1975, was promoted in the joint sector by J Naresh Kumar along with the Andhra Pradesh Industrial Development Corporation (APIDC). The name of the Company was changed from Pennar Steels Limited to Pennar Industries Limited in the year 1998. The Company is one of the leading engineering organisation in India and is well known for its expertise in providing engineered products & solutions. It manufactures cold rolled steel strips, precision tubes, cold rolled formed sections, electrostatic precipitators, profiles, Railway wagons and coach components, press steel components, hydraulics, road safety systems, galvanised products, Solar panels, design & installation of pre-engineered steel buildings, ... building components and erection for industries, warehouses, commercial centres, multi storied buildings, aircraft hangars, defence installations. The Company started its journey with first manufacturing plant at Isnapur, near Hyderabad, and since then, has established itself as diversified engineering company with end-to-end 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 1989-90, 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 1990-91. In 1991-92, 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 1993-94 by setting up a 3-MW wind energy farm near Coimbatore, Tamilnadu, and setting up a project to manufacture value-added pressed and fine blanked metal components, which became operational in 1994-95 and 1995-96 respectively. In Sep.'95, it received the ISO 9002 certification from RWTUV, Germany. In 1999-2000, 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 Company's 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 2011-12. 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 Cylinder-Bailey, Action Construction Equipment, AGCO, Kone-Elevator Bed Plate, DTX- Rod clevis, and Venus -Bottom Cover. In May 2019, Company forayed into engineering products for the aerospace industry by establishing a production facility in Hyderabad. The wholly owned subsidiaries, Pennar Engineered Building Systems Limited (PEBS Pennar) and Pennar Enviro Limited (PEL) with the Company in June, 2019. In July 2019 Company set up greenfield integrated coach manufacturing facility at Raebareli. In September 2019, the Company doubled it's cold drawn welded (CDW ) tubes manufacturing capacity. It set up a greenfield plant to produce CDW tubes of up to 150 mm diameter and the thickness of 10 mm. In February 2020, Company acquired One works BIM Technologies. In 2022-23, the wholly owned subsidiary by the name of 'Pennar Metals Private Limited' was incorporated on June 22, 2023. The Company commenced development of a new manufacturing unit in Raebareli in FY 2024. It commissioned the manufacturing plant at Trichy in FY 2024. The Company expanded the reach with the establishment of a new PEB Plant in Raebareli to serve Northern and Eastern India in FY 2025. The Pennar-Zetwerk Joint Venture marked the entry into solar-module manufacturing in 2025.