Draft:Pennar Industries

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Pennar Industries Limited
Company typePublic
ISININE932A01024
IndustryEngineering
Founded1987
FounderNrupender Rao[3]
HeadquartersHyderabad, Telangana, India
Key people
R V S Ramakrishna Chairman
Aditya Rao Vice Chairman & MD
ProductsBuilding Information Modelling
Controls and Automation
Piping Engineering
Electrical & Instrumentation
Civil Engineering
Steel Structural Engineering
Mechanical Engineering
ICD
Boilers
Railway Componenets
Solar
RevenueIncrease₹692.22 crore (US$87 million)
Increase₹282.40 crore (US$35 million) (2023)[1]
Decrease₹21.12 crore (US$2.6 million) (2023)[4][5]
Total assetsIncrease₹214,873 lakh (US$270 million) (2023)
Total equityDecrease₹77,898 lakh (US$98 million) (2023)
Number of employees
4500
Websitewww.pennarindia.com

Pennar Industries Limited,[6] an Indian Engineering Company headquartered in Hyderabad, India. Established in 1987, the company operates in diverse sectors, including infrastructure, automobiles, power, general engineering, and building and construction. Pennar Industries is known for its expertise in high-end, intricate pre-engineered construction projects, and is recognized for its social and environmental strategies.[3]

Early Years[edit]

Pennar Industries Incorporated in 1977, Pennar Industries was founded by Nrupender Rao and promoted by J Naresh Kumar[7] and the Andhra Pradesh Industrial Development Corporation, Ltd.(APIDC) Initially focusing on manufacturing cold-rolled steel strips,[6] steel tubes, and pipes, the company witnessed significant expansions and acquisitions in the following years.

The journey began with the establishment of the first manufacturing plant at Isnapur, Hyderabad. Strategic acquisitions, including Nagarjuna Steel Ltd., Press Metal, and assets of Wayne Burt Petrochemicals,[8] contributed to the company's growth, particularly in the Hydraulic Cylinders segment.[9][10]

Expansion and Diversification[edit]

Throughout the '80s and '90s, Pennar Industries underwent expansions, issued shares, and diversified into various industries. The company ventured into wind energy in 1994 with a 3 MW farm in Coimbatore. In subsequent years, diversification into domestic and industrial appliances and the automotive industry ensued.

Pennar Industries Limited established dedicated Aerospace Manufacturing plant and the company has introduced the "BODY IN WHITE" (BIW) division in 2019. Ascent Buildings, LLC was founded in October of 2020 as a full service pre-engineered building manufacturer in United States of America (USA). In 2021, The Engineering services office established in Germany with name of Pennar GMBH.PIL has acquired the brand, as well as the technology and designs of Veesons for Boilers |url=https://www.bseindia.com/bseplus/AnnualReport/513228/74986513228.pdf}}</ref>.The company has also acquired a France based CADNUM SARL Engineering and Precision company in July 2022.|url=https://stockdiscovery.s3.amazonaws.com/insight/india/1587/Investor%20Presentation/IP-Jun22.pdf}}</ref>


In 2022, Pradeep Sangwan[11] joined as Business Unit Head, bringing valuable experience from solar firms such as Econess Energy, Renesola Power, and Tata BP Solar.[12][13]

Leadership and Milestones[edit]

Key appointments marked crucial phases in Pennar's journey. Dr. G Vivekanand joined as an additional director in 2006, and in 2008, Shri Aditya Narsing Rao and Shri. A Krishna Rao were appointed as Additional Director and Chairman, respectively. The company recommended a dividend in 2009, and in 2008, Pennar Industries launched a facility for Pre-Engineered Buildings (PEBs).[14][15][16] The Initial Public Offering (IPO) issue of PEBs in 2015.

Achievements and Recognition[edit]

Positive credit ratings, accolades for excellence, and significant orders from prestigious clients like L&T, Tata Steel Group, and Ultratech marked the years following 2010. The first Factory in India to receive a Gold rating from the Indian Green Building Council (IGBC) in 2010. Pennar Industries received awards for corporate governance and industry excellence, securing orders and expanding its presence.

Certifications[edit]

  • Quality Management Systems – ISO 9001:2015
  • Environmental Management Systems – ISO 14001:2015
  • Occupational Health and Safety Management Systems – ISO 45001:2018
  • Information Security Management Systems – ISO 27001:2013
  • Welding Quality Management Systems – ISO 3834-2:2021
  • Railway Welding Quality Management Systems – EN 15085-2:2020
  • Automobile Quality Management Systems – IATF 16949:2016
  • Aerospace Quality Management Systems – AS 9100:2016[17]
  • Railway Business Management Systems – ISO/ TS 22163:2017

Manufacturing Units[edit]

Pennar Industries operates manufacturing units in various locations, producing a wide range of products:

  • Steel products, ICD, Railway components (Patancheru)[18]
  • Aero space components (Patancheru)
  • Tubes products and Steel (Isnapur)
  • PEB (Pre-Engineered Buildings) (Sadashivpet)[16]
  • Solar Modules (Sadashivpet)
  • Tubes (Velchal)
  • PEB (Velchal)
  • Fuel Additives (Mallapur)
  • Railway products, ICD, Hydraulics, BIW products (Chennai)
  • Boiler (Trichy)
  • Steel products (Tarapur, Maharashtra)
  • USA (Tennessee)
  • France (Villebret)

Subsidiaries[edit]

  • Pennar Global Inc., USA: Based in Houston, USA, it supplies hydraulics, precision tubes, and engineering services.
  • Pennar GmbH: Headquartered in Bad Homburg, Germany, it provides engineering services and is expanding its portfolio in aerospace, automotive, energy, oil & gas, building, and infrastructure sectors.
  • Cadnum SARL: Located in Villebret, France, it specializes in engineering and precision machining, focusing on the moulds and patterns industry.
  • Enertech: Engaged in solar energy solutions.

Services[edit]

Pennar Industries provides a comprehensive range of services to its global clientele. The company specializes in:

  • Building Information Modelling (BIM):[19] Leveraging cutting-edge technology, Pennar Industries excels in BIM services, ensuring precision and innovation in engineering solutions.
  • Controls and Automation: Pennar Industries offers expertise in controls and automation, enhancing efficiency in industrial processes through advanced engineering solutions.
  • Piping Engineering: With a focus on precision, the company provides top-notch piping engineering services, catering to the specific needs of diverse industries.
  • Electrical and Instrumentation: Pennar Industries excels in electrical and instrumentation engineering, contributing to the development of reliable and advanced systems.
  • Civil Engineering: The company's proficiency in civil engineering is evident in its contribution to the construction and infrastructure sectors, delivering high-quality solutions.
  • Steel Structural Engineering: Pennar Industries stands out in steel structural engineering, playing a vital role in shaping robust and innovative structures.
  • Mechanical Engineering: With a commitment to staying at the forefront of technology, Pennar Industries provides superior mechanical engineering services, meeting industry benchmarks.

Management and Operations[edit]

Management[edit]

  • RVS Ramakrishna - Independent Chairman, (in 2023 Nrupender Rao, Chairman has decided to step down from his position.)[20]
  • Aditya Rao - Vice Chairman & Managing Director
  • K Lavanya Kumar – Executive Director
  • Eric Brown - Director
  • Shrikant Bhakkad - CFO

Operations[edit]

Pennar Industries operates in multiple locations, providing diverse engineering services and products to clients globally.

Books[edit]

Pennar Industries' remarkable journey and the entrepreneurial spirit of its founder, Nrupender Rao,[21] are vividly depicted in Pavan C. Lall's biography, 'Forging Mettle' (Nrupender Roa & Pennar Story)[22] The book delves into key milestones, ethical leadership principles, and the company's consistent growth. The launch event included a panel discussion on ethical entrepreneurship, environmental sustainability, and inclusive growth, emphasizing Pennar's commitment to a progressive business landscape. Grounded in the teachings of Shri Ramakrishna and Swami Vivekananda, Rao's vision for entrepreneurship resonates throughout the narrative, making 'Forging Mettle' a concise portrayal of Pennar Industries' enduring success and dedication to excellence.

References[edit]

  1. ^ a b "Pennar Industries Profit & Loss account, Pennar Industries Financial Statement & Accounts". www.moneycontrol.com. Retrieved 9 October 2023.
  2. ^ "Pennar Industries Ltd, PENIND:NSI summary - FT.com". markets.ft.com. Retrieved 9 October 2023.
  3. ^ a b Lall, Pavan C. (27 September 2022). "This book shows how Nrupender Rao built Pennar Industries with social and environmental strategies". Scroll.in. Retrieved 3 October 2023.
  4. ^ "Q4 2023 Pennar Industries Ltd Earnings Call - Final". Fair Disclosure Wire (Quarterly Earnings Reports).
  5. ^ "Pennar Industries (NSE:PENIND) Has A Pretty Healthy Balance Sheet". simplywall.st. 7 June 2023. Retrieved 9 October 2023.
  6. ^ a b "Pennar Group's Nrupender Rao: "Liberalization meant, make India free for all Indians"". Moneycontrol. 17 September 2022. Retrieved 9 October 2023.
  7. ^ Correspondent, Business Standard (3 October 2023). "Pennar Industries Ltd". {{cite web}}: |first= has generic name (help)
  8. ^ "Pennar Industries: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Pennar Industries - NDTV". www.ndtv.com. Retrieved 9 October 2023.
  9. ^ "Pennar Industries to Increase Hydraulic Cylinders Capacity to Meet Global Demand". Bloomberg.com. 15 April 2019. Retrieved 9 October 2023.
  10. ^ Balaram, Vysetti (March 2023). "Potential Future Alternative Resources for Rare Earth Elements: Opportunities and Challenges". Minerals (2075-163X). 13 (3): 425. doi:10.3390/min13030425.
  11. ^ "Pennar Industries Inducts Pradeep Sangwan As BU Head-Solar". www.saurenergy.com. Retrieved 3 October 2023.
  12. ^ Susmit, Sneh (15 August 2017). "Greenko Solar to acquire stake in Pennar's renewable energy unit". mint. Retrieved 9 October 2023.
  13. ^ "Pennar Industries bags orders worth Rs 1,167 crore from NTPC Renewable Energy". FRPT- Energy Snapshot: 10–11. 20 October 2022.
  14. ^ PR Newswire (30 January 2023). "Pre-Engineered Buildings Global Market Report 2022: Research-Markets". PR Newswire US.
  15. ^ "Pennar Engineered Building Systems Makes Weak Debut". NDTV.com. Retrieved 9 October 2023.
  16. ^ a b Kumar, V. Rishi (16 May 2019). "Pennar Industries gets NCLT nod to merge subsidiaries". BusinessLine. Retrieved 9 October 2023.
  17. ^ Bureau, BW Online. "Pennar Industries Secures Crucial Certification For Aerospace Facility". BW Businessworld. Retrieved 9 October 2023.
  18. ^ "Pennar Industries' arm bags order worth Rs 13 crore". Yahoo News. 27 February 2012. Retrieved 9 October 2023.
  19. ^ Bureau, Our (11 February 2020). "Pennar Industries to acquire Oneworks BIM Technologies". BusinessLine. Retrieved 9 October 2023.
  20. ^ "Pennar Group appoints RVS Ramakrishna as new independent chairman". Financialexpress. 10 August 2023. Retrieved 9 October 2023.
  21. ^ Sharma, Swati (23 October 2022). "Man of steel: Nrupender Rao". Deccan Chronicle. Retrieved 4 October 2023.
  22. ^ C. Lall, Pavan (2022). Forging Mettle (Nrupender Rao & Pennar Story). Harper Business. ISBN 9789394407220.

External links[edit]



Category:Steel companies of India Category:Manufacturing companies based in Hyderabad Category:Manufacturing companies established in 1977 Category:Indian companies established in 1977 Category:NIFTY 50 Category:BSE SENSEX Category:1977 establishments in Andhra Pradesh Category:Companies listed on the National Stock Exchange of India Category:Companies listed on the Bombay Stock Exchange

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