Pennar Industries reports 25.8% y-o-y increase in Q1

Pennar Industries Limited (PIL) announced its financial results for the first quarter ended on June 30, 2019. The company's net revenue stands at INR 541.4 crore compared to net revenue of INR 466.5 crore in Q1 FY19; up 16.0% y-o-y. It registered EBITDA of INR 55.2 crore compared to EBITDA of INR 45.6 crore in Q1FY19; EBITDA margin at 10.2% while PAT after minority interest is INR 16.5 crore compared to PAT after minority interest at INR 13.1 crore in Q1FY19; up 25.8% y-o-y

During Q1, PIL received 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 INR 554 crore as on June 30, 2019. The order book position for water treatment & chemicals segment as on June 30, 2019 was INR 86 crore.   

Among the various verticals, gross revenue from Steel BU stood at INR 190 crore, Railways revenue stood at INR 99 crore, Tubes revenue stood at INR 66 crore, Industrial components revenue stood at INR 37 crore, Pre-engineered buildings division revenue stood at INR 174.5 crore in the total gross revenue. The balance came in from other business divisions.

Commenting on Q1 financial performance, K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited said, "Pennar Industries started FY2020 on a strong note with a good set of Q1 numbers. Backed by incremental scheduled deliveries and projects completions, the company posted a top line y-o-y growth of 16% and a robust 26% y-o-y growth in profits. With a healthy order book in PEBS division and consistent order inflow from new and repeat customers, we have a positive outlook for rest of the year."

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