Pennar Industries rose 3.42% to Rs 36.30 after the company said that a meeting of the board of directors is scheduled to be held on Wednesday, 9 March 2022, to consider a proposal for buyback of the equity shares of the company.
The announcement was made during market hours today.
The company's consolidated net profit surged to Rs 10.71 crore in the quarter ended December 2021 as against Rs 2.64 crore during the previous quarter ended December 2020. Sales rose 29.38% YoY to Rs 532.97 crore in Q3 FY22.
Pennar Industries is a multi-location, multi-product company manufacturing precision engineering products such as cold rolled steel strips, precision tubes, railway wagons / coaches, pre-engineered building systems, solar module mounting structures & photo voltaic panels, sheet metal components, hydraulic cylinders, road safety systems, water & sewage treatment solutions, desalination projects etc. The company's products have significant presence in sectors like infrastructure, automobiles, power, general engineering, building & construction, refineries, white goods, railways, solar etc.
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