Multibagger stock hit a fresh 52-week-high on orders worth ₹851 Cr
- With a market worth of Rs. 1,141.56 Cr., Pennar Industries Ltd. is a small-cap company that engages in the industrial sector.
With a market worth of Rs. 1,141.56 Cr., Pennar Industries Ltd. is a small-cap company that engages in the industrial sector. One of India's top businesses for high-end, intricate pre-engineered construction projects. The corporation is well-established in a number of industries, including infrastructure, automobiles, power, general engineering, and building and construction. Following news that Pennar Industries had received several orders totaling ₹851 crore, the company's shares soared on February 20 and reached a new 52-week high.
Reliance, TVS ILP, Shree Shyam Warehousing, Premier Energies, Mersel Food, Technocrat Industries, API Squad Processing, Zim Laboratories, Brownlee Construction, Midwest Contracting Inc, Tifton Building Systems, 3600 LLC, Monteith Construction, Sons Construction, Rycon Construction, Gateway Building Systems, Ashok Leyland, Yamaha, Emerson, Endurance, Haldex, Wabco, Tecumseh, SI Airspring, Kone, Fujitech, Schwing Stetter, INEL, Hydraulics, Elkhart, Kone, Sicor, Venus, Fleetguard, VRV, IFB, Integral Coach Factory, Wabtec, RCF, Texmaco, ALF Engineering, Thermax, IFB Automotive, Hindalco, Kirloskar Toyota, Patton International, Interoll India, RSB Transmissions, Forbes Vyncke, GI Auto, Mahindra Defence Systems, Scott Industries, Andrew Race Cars, RSB Transmissions, Rajsriya, Rakhoh Industries, Nash Industries, Oriental Electrical, LMW, Innova Rubbers, Toyota Boshoku, Tata Power, Saint Gobain, L&T, Navayuga Engg, NCC Ltd, Megha Engg, Waree, Puzzolana, Thermax, VECV, IFB Industries, L G Balakrishnan, Johnson Lifts, Bimetal Bearings, Mudra Fine Blanc, Navayuga Engg, VRL, Clair, Primex, Contour Steel, JSSL, JM Frictech, are the major clients signed order with Pennar Industries in the verticals comprising Ascent Buildings (USA), pre-engineered buildings, industrial components, railways, tubes and steel.
This announcement came after Pennar Industries reported strong Q3 earnings. During Q3FY23, the company reported revenue from operations of ₹692.22 Cr, up by 29.88% YoY from ₹532.97 Cr in Q3FY22. Pennar Industries said its gross profit reached ₹282.40 Cr in the quarter ended December 2022 compared to ₹216.85 Cr recorded in the quarter ended December 2021, representing a growth of 30.23%. The company’s EBITDA stood at ₹66.00 Cr in Q3FY23, up by 40.61% YoY from ₹46.94 Cr in Q3FY22, whereas its net income reached ₹700.13 Cr in Q3FY23, up by 30.29% YoY from ₹537.38 Cr in Q3FY22. The net profit of Pennar Industries stood at ₹21.12 Cr in Q3FY23, up by 97.20% YoY from ₹10.71 Cr in Q3FY22, and the PAT margin stood at 3.05% compared to 2.01% stood in the year-ago quarter.
The shares of Pennar Industries gained today by 9.80% on an intraday basis to reach a new 52-week-high of ₹81.00 and then closed at ₹80.70 apiece level on the NSE. The stock recorded a total volume average of 6,835,001 shares and a delivery volume average of 193,362,178 shares or 28.29%. In the last 1 year, the stock has generated a multibagger return of 120.19% and on a YTD basis, it has gained 37.71% so far in 2023. During Q3FY23, the company recorded a promoter shareholding of 39.75%, FIIs stake of 4.08%, and a public stake of 56.18%.
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