Pennar Industries

₹126.6 2.2 | 1.8%

WEBSITE BSE:513228 NSE : PENNAR STEEL 10 May, 16:01

Market Cap ₹1708 Cr.

Stock P/E 18.4

P/B 2

Current Price ₹126.6

Book Value ₹ 62.9

Face Value 5

52W High ₹162.3

Dividend Yield 0%

52W Low ₹ 66.6

Edit Ratio

Pennar Industries Research see more...

Overview Inc. Year: 1975Industry: Steel & Iron Products

Pennar Industries Ltd is a holding agency. The Company is engaged in the manufacture of steel merchandise, including Cold Rolled Steel Strips (CRSS) and Cold Formed Metal Profiles. The Company is engaged within the manufacture of hot-rolled and cold-rolled merchandise of metal. It additionally manufactures tubes. Its commercial enterprise divisions encompass Steel products, Systems and projects, Tubes and Industrial components. The Company offers precision tubes, cold rolled formed sections (CRFS), electro static precipitators, railway wagons and coach additives, press metallic components and road protection systems. The Company provides solar module mounting solutions; storage solutions, consisting of racking and shelving solutions; hydraulic components and vehicle additives, and electric resistance welded pipes, cold-drawn welded tubes and air pre-heater tubes. It gives CRSS and CRFS for programs, including building additives and infrastructure, automobile profiles, metallic crash boundaries and sheet piles.

Pennar Industries Share Price

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Peer Comparison

Pennar Industries Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	552	533	693	700	834	692	668	749	814	745
Other Income	3	4	7	11	16	8	2	12	6	6
Total Income	555	537	700	711	850	700	671	761	820	751
Total Expenditure	511	490	642	655	788	634	600	687	744	669
Operating Profit	43	47	58	56	62	66	71	74	76	82
Interest	20	19	21	22	25	22	23	28	30	31
Depreciation	13	13	15	16	16	16	17	16	17	18
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	11	14	22	19	22	28	31	29	30	33
Provision for Tax	3	3	5	5	5	6	7	8	7	8
Profit After Tax	8	11	17	14	16	21	24	22	22	25
Adjustments	0	0	-0	0	0	0	-1	0	0	0
Profit After Adjustments	8	11	17	14	17	21	23	22	23	25
Adjusted Earnings Per Share	0.6	0.8	1.2	1	1.2	1.6	1.7	1.6	1.7	1.9

Pennar Industries Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1156	1166	1313	1356	1541	1768	2133	2107	1525	2266	2895	2976
Other Income	5	4	3	3	8	16	27	20	19	17	33	26
Total Income	1161	1170	1316	1359	1550	1784	2160	2127	1544	2283	2928	3003
Total Expenditure	1043	1077	1195	1208	1387	1562	1960	1937	1432	2094	2673	2700
Operating Profit	118	93	121	151	162	222	200	189	112	188	255	303
Interest	31	26	36	38	62	67	75	83	80	78	91	112
Depreciation	18	19	18	19	25	29	28	43	48	54	65	68
Exceptional Income / Expenses	0	0	0	0	0	13	0	0	20	0	0	0
Profit Before Tax	69	48	67	94	75	138	97	63	4	56	98	123
Provision for Tax	23	17	23	36	25	48	30	10	1	14	23	30
Profit After Tax	46	31	43	58	50	90	67	53	3	42	75	93
Adjustments	-4	-5	-7	-14	-15	-1	-0	-0	-0	-0	-0	-1
Profit After Adjustments	42	26	36	44	35	89	66	53	3	42	75	93
Adjusted Earnings Per Share	3.4	2.2	3	3.6	2.9	5.9	4.4	3.7	0.2	2.9	5.6	6.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	28%	11%	10%	10%
Operating Profit CAGR	36%	10%	3%	8%
PAT CAGR	79%	12%	-4%	5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	72%	87%	30%	17%
ROE Average	10%	5%	7%	10%
ROCE Average	14%	10%	12%	16%

Pennar Industries Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	348	376	405	514	476	604	667	700	696	735	778
Minority's Interest	25	36	44	85	83	0	0	1	1	1	1
Borrowings	33	43	45	86	107	101	100	102	113	99	99
Other Non-Current Liabilities	18	23	34	36	37	42	47	74	65	79	71
Total Current Liabilities	330	353	403	704	780	765	929	976	1018	1227	1369
Total Liabilities	754	832	931	1425	1484	1512	1744	1853	1893	2141	2318
Fixed Assets	235	268	282	464	441	342	454	626	603	644	721
Other Non-Current Assets	28	25	11	19	54	61	158	128	105	126	99
Total Current Assets	489	535	634	938	989	1109	1131	1100	1185	1371	1498
Total Assets	754	832	931	1425	1484	1512	1744	1853	1893	2141	2318

Pennar Industries Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	14	32	9	6	57	58	33	15	39	34	38
Cash Flow from Operating Activities	88	84	30	205	-19	-3	174	191	-43	195	244
Cash Flow from Investing Activities	-27	-72	-30	-268	41	-39	-204	-72	-6	-98	-28
Cash Flow from Financing Activities	-43	-35	-4	115	-21	16	13	-95	43	-92	-113
Net Cash Inflow / Outflow	19	-23	-3	51	1	-26	-18	24	-5	4	104
Closing Cash & Cash Equivalent	33	9	6	57	58	33	15	39	34	38	143

Pennar Industries Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.43	2.15	2.98	3.64	2.87	5.87	4.36	3.65	0.18	2.94	5.59
CEPS(Rs)	5.22	4.12	5.07	6.41	6.25	7.86	6.21	6.62	3.59	6.76	10.4
DPS(Rs)	1	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	25.41	28.39	31.18	40.79	39.56	39.65	43.81	48.22	48.95	51.72	57.66
Core EBITDA Margin(%)	8.9	6.92	8.12	9.99	9.01	11.45	8.12	8.03	6.09	7.56	7.64
EBIT Margin(%)	7.87	5.76	7.12	8.94	8.01	11.43	8.06	6.96	5.46	5.93	6.55
Pre Tax Margin(%)	5.41	3.72	4.6	6.35	4.37	7.68	4.54	3	0.24	2.47	3.4
PAT Margin (%)	3.58	2.37	2.98	3.93	2.91	5.03	3.13	2.53	0.19	1.85	2.61
Cash Profit Margin (%)	5	3.83	4.22	5.21	4.39	6.66	4.43	4.57	3.34	4.24	4.85
ROA(%)	6.32	3.88	4.89	4.94	3.42	6.04	4.1	2.97	0.15	2.08	3.38
ROE(%)	15.59	9.43	12.03	13.45	10.3	16.76	10.48	7.81	0.41	5.86	9.97
ROCE(%)	21.32	15.14	19.15	19.91	17.9	23.77	16.67	12.99	6.86	10.32	13.93
Receivable days	63.43	68.09	74.1	88.83	77.89	76.03	74.06	74.48	98.48	68.63	49.71
Inventory Days	46.86	49.99	49.65	56.87	69.89	84.36	74.53	76.1	110.84	90.97	89.88
Payable days	54.38	70.79	80.87	142.3	170.87	109.01	64.54	75.04	100.54	70.17	63.06
PER(x)	7.29	11.26	17.93	12.98	14.28	8.68	8.39	3.83	90.93	11.74	12.6
Price/Book(x)	0.98	0.85	1.72	1.16	1.04	1.28	0.84	0.29	0.33	0.67	1.22
Dividend Yield(%)	4	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.38	0.37	0.63	0.49	0.46	0.61	0.45	0.28	0.5	0.44	0.48
EV/Core EBITDA(x)	3.69	4.65	6.82	4.4	4.39	4.86	4.8	3.13	6.82	5.26	5.5
Net Sales Growth(%)	-12.11	0.87	12.55	3.3	13.66	14.72	20.65	-1.25	-27.59	48.54	27.76
EBIT Growth(%)	-23.74	-25.56	38.03	28.58	3.51	49.88	-16.28	-14.79	-43.15	61.17	41.22
PAT Growth(%)	-29.46	-32.63	40.31	35.03	-14.53	81.78	-26.33	-19.89	-94.68	1375.7	79.98
EPS Growth(%)	-32.47	-37.23	38.53	22.15	-21.18	104.27	-25.67	-16.24	-95.11	1546.61	89.95
Debt/Equity(x)	0.51	0.45	0.52	0.54	0.63	0.58	0.66	0.64	0.84	0.8	0.8
Current Ratio(x)	1.48	1.52	1.57	1.33	1.27	1.45	1.22	1.13	1.16	1.12	1.09
Quick Ratio(x)	0.98	0.98	1.07	0.97	0.76	0.88	0.75	0.68	0.69	0.59	0.52
Interest Cover(x)	3.21	2.82	2.83	3.45	2.2	3.05	2.29	1.76	1.05	1.71	2.08
Total Debt/Mcap(x)	0.54	0.53	0.3	0.47	0.6	0.57	1	2.2	2.53	1.2	0.65

Pennar Industries Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	37.69	37.71	38.2	39.74	39.74	39.74	39.74	39.74	39.74	39.62
FII	0.36	0.2	0.14	0.65	4.08	4.86	4.25	4.69	4.31	4.62
DII	0	0	0	0	0	0.03	0	0.1	0.35	0.27
Public	61.94	62.09	61.66	59.61	56.18	55.37	56	55.47	55.59	55.49
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	5.36	5.36	5.36	5.36	5.36	5.36	5.36	5.36	5.36	5.35
FII	0.05	0.03	0.02	0.09	0.55	0.66	0.57	0.63	0.58	0.62
DII	0	0	0	0	0	0	0	0.01	0.05	0.04
Public	8.81	8.83	8.65	8.04	7.58	7.47	7.56	7.48	7.5	7.49
Others	0	0	0	0	0	0	0	0	0	0
Total	14.22	14.22	14.03	13.49	13.49	13.49	13.49	13.49	13.49	13.49

Pros

Debtor days have improved from 70.17 to 63.06days.

Cons

Promoter holding is low: 39.62%.
Company has a low return on equity of 5% over the last 3 years.
The company has delivered a poor profit growth of -3% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Pennar Industries

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Pennar Industries Research see more...

Overview Inc. Year: 1975Industry: Steel & Iron Products

Pennar Industries Share Price

Alert Data

Quarterly Price

Peer Comparison

Pennar Industries Quarterly Results

Pennar Industries Profit & Loss

Growth Rates

Pennar Industries Balance Sheet

Pennar Industries Cash Flow

Pennar Industries Ratios

Pennar Industries Shareholding Pattern

Pennar Industries News

Top Unlisted Companies & InstaBuy Companies

Electrosteel Steel Ltd

IPO

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