Pennar Industries’ FY2023 Consolidated Net Revenue at INR 2,894.62 crore, up by 27.76%

PAT at INR 75.43 crore, up by 79.98%.

Hyderabad, May 24, 2023: Pennar Industries Limited (PIL), a leading value-added engineering products and solutions company, today announced its financial results for the fourth quarter and year ended on March 31st, 2023.

Consolidated Financial Highlights – FY2023

· Net revenue at INR 2,894.62 crore compared to INR 2,265.75 crore in FY22, up by 27.76%.

· EBITDA at INR 254.62 crore compared to INR 188.42 crore in FY22, up by 35.13%.

· PAT at INR 75.43 crore compared to INR 41.91 crore in FY22, up by 79.98%.

About Pennar Industries Limited:

Pennar Industries (NSE: PENIND, BSE: 513228) is India’s leading value-added engineering products and solutions company. Pennar Industries is a diversified engineering firm with presence in the Automotive, Rail & Aerospace, Infrastructure and Energy sectors. The company provides design/detailing, manufacturing and project execution services to its customers in India, North America and Europe. The company believes in sustainable profitability, liquid and growth. The primary growth verticals for the company in the next few years are Body in White Components and Systems, Hydraulics, Custom Designed Building Systems and Engineering Services. Pennar Industries operates with 11 manufacturing plants, 5 engineering offices and 42 sales offices in India, the US and Europe. The company is headquartered in Hyderabad, India.

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. Pennar undertakes no obligation to publicly revise any forward-looking statements to reflect future / likely events or circumstances