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Standalone Revenue for Q2 FY2019 at INR 384.6 crore, up by 34% y-o-y
Pennar Industries Limited (PIL), a leading value-added engineering products and solutions company, today announced its unaudited financial results for the second quarter and half year ended on September 30, 2018.
Standalone Financial Highlights
Q2 FY 2019 Net Revenue at INR 384.6 crore; up by 34% y-o-y Q2 FY 2019 PAT at INR 11.2 crore; up by 48% y-o-y H1 FY 2019 Net Revenue at INR 726.7 crore; up by 20% y-oy H1 FY 2019 PAT at INR 22.4 crore; up by 59% Consolidated Financial Highlights - Q2 FY2019
Net revenue at INR 527.9 crore; up 24% y-o-y EBITDA at INR 42.0 crore; EBITDA margin at 8% PAT after minority Interest at INR 12.2 crore; up 19% y-o-y Consolidated Financial Highlights - H1 FY2019
Revenue at INR 994.4 crore; up 12% y-o-y EBITDA at INR 87.6 crore; EBITDA margin at 9% PAT after minority interest at INR 25.4 crore; up 21% y-o-y Business Highlights
During Q2, PIL and its subsidiaries received orders aggregating to INR 695 crore. These new orders were across business verticals such as building products, tubes, solar, railways, industrial components and pre-engineered buildings.
Among the various verticals, revenue from railways at INR 90 crore contributed 24% to the standalone PIL revenue during the quarter. Solar revenue at INR 53 crore contributed 14%, Steel vertical revenue at INR 130 crore contributed 34% and the remaining INR 108 crores contributing 28% to the standalone revenue, came in from other verticals such as Tubes and ECD etc. Commenting on Q2 financial performance, Mr. K M Sunil, Vice President - Corporate Strategy, Pennar Industries Limited, said, "While on a standalone basis PIL reported encouraging performance, consolidated numbers are muted primarily due to lower than expected performance in Solar vertical. However, solar has picked up in the beginning of the third quarter and the vertical is expected to regain the lost ground during the remaining two quarters. With that, we are expecting full year performance to be quite encouraging."
About Pennar Industries Limited:
Pennar Industries (NSE: PENIND) (BSE: 513228) is India's leading value-added engineering products and solutions company. The Company has a strong presence across growth sectors in India through four business units Railways, Tubes, Industrial Components and Steel Products, and its subsidiary companies, Pennar Engineered Building Systems Limited, Pennar Enviro Limited and Pennar Global Inc. Pennar's all the manufacturing units are ISO 9001:2008-certified and the Company has presence across 10 industry verticals. Pennar has over 30 years of rich experience and more than 1,000 precision engineered products, 2,500 tools and dies, over 600 customers and seven manufacturing plants located at Patancheru, Sadashivpet, lsnapur, Velchal and Mallapur near Hyderabad, Chennai in Tamil Nadu and Tarapur in Maharashtra. For more information, please visit http://www.pennarindia.com.
DISCLAIMER:
This release contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Pennar's future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macroeconomic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance.
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