On Thursday, Pennar Industries gained 2.93 per cent to Rs 49.15 after the company secured orders worth Rs 511 crore across its various business verticals. ICD, Railway, PEB, Ascent Buildings (USA), Steel and Tubes. In the last two months, the order is expected to be executed within the next two quarters.

Cold rolled steel strips (CRSS) and other steel products are manufactured in Pennar Industries and cold formed metal profiles. On consolidated basis, net profit of Pennar Industries has zoomed 119.3 per cent to Rs 14.08 crore. Also, the net sales to Rs 699.98 crore in the first quarter of FY23 over the first quarter of FY22.

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Earlier a few months, the private equity stock was trading at a TTM of 15.36x as compared with private equity of 5.33x. In FY22, it delivered an ROE and ROCE of 4.72 per cent and 14.69 per cent, respectively.

Pennar Industries is world’s leading industrial organizations that provides specialized engineering steel solutions. On 11 July, 2022 the Pennar Industries Ltd was trading at Rs 39.95 a piece, up by 2.45 points or 6.53 per cent from its previous closing of Rs. 37.50 on the Bombay Stock Exchange (BSE).