Pennar Industries Limited, one of India's leading industrial companies engaged in the production and marketing of specialized engineered steel solutions, announced their unaudited financial results for the quarter ended 30th September, 2013, today. 

Commenting on the results and performance, Aditya Rao, Vice – Chairman of Pennar Industries Limited, said: “Pennar's entry into hydraulics and industrial storage and warehousing, our investment in new product development and expansion of customer base are the foundation of our evolution into an engineering enterprise. We believe that these efforts are necessary for long term value creation. Pennar's subsidiaries Pennar Engineered Building Systems and Pennar Enviro have had a strong quarter and have booked orders across multiple verticals. The subsidiaries will now focus on revenue growth and expanding addressable market size”.

Commenting on the results and performance, Suhas Baxi, President and CEO of Pennar, said: “Operating cost efficiency projects have started yielding results for us. The improved margins in Q2 prove that process improvement and innovation is translating into better bottom line. Q2 also saw an impressive performance on order entry. This has created a platform for growth in the near term. Even in times of turnover stress, Pennar continues to produce good, positive margins and cash flow. This is keeping our balance sheet strong and allowing us to invest in growth through new businesses and assets”.