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Swing Capital

Pennar Industries Ltd

NSE: PENIND BSE: 513228

Pennar Industries Limited is a multi-location, multi-product company manufacturing precision engineering products, Pre-Engineered Building Systems and Hydraulics and Warehousing solutions. [1]

₹152
52W: ₹129 — ₹280
PE 20.5 · Book ₹68.6 · +122% vs book
Market Cap₹2,048 Cr
Stock P/E20.5Price to Earnings
ROCE14.6%Return on Capital
ROE10.8%Return on Equity
Div. Yield0%Face Value ₹5

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 4.21% over past five years.
  • −Company has a low return on equity of 8.31% over last 3 years.

Shareholding Pattern

Promoters39.67%
FIIs4.05%
DIIs5.28%
Public51.01%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters39.63%39.67%▲0.039.67%39.67%39.67%39.67%39.67%39.67%
FIIs4.86%4.81%▼0.14.4%▼0.43.81%▼0.66.23%▲2.46.74%▲0.55.02%▼1.74.05%▼1.0
DIIs0.32%1.48%▲1.21.59%▲0.11.69%▲0.11.74%▲0.11.98%▲0.22.18%▲0.25.28%▲3.1
Public55.18%54.04%▼1.154.34%▲0.354.84%▲0.552.37%▼2.551.61%▼0.853.14%▲1.551.01%▼2.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales634585659602600654721655705716
Expenses579524609540534594645584635652
Operating Profit55615162666076717064
OPM %9%10%8%10%11%9%11%11%10%9%
Net Profit13151819232328232625
EPS ₹0.981.141.321.381.681.72.051.671.91.82

AI Insights

Revenue Trend

TTM revenue at ₹2,797Cr, up 8.5% YoY. OPM at 10%.

Debt Position

Borrowings at ₹865Cr. Debt-to-equity ratio: 1.01x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹98Cr (12% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.28% (+5.28pp change). FIIs: 4.05% (-0.20pp change). Promoters hold 39.67%.

Margin & Efficiency

ROCE improving from 9% (Mar 2014) to 15% (Mar 2025). Working capital days: 12.

Valuation

PE 20.5x with 14.6% ROCE. Price is 122% above book value of ₹68.6. Dividend yield: 0%.

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