Enter the first few characters of Company and click 'Go'

Pennar Industries Ltd. Company History and Annual Growth Details

YEAR EVENTS
1975 - The Company was incorporated on 8th August, at Hyderabad. The
company was promoted in the joint sector by J Naresh Kumar in
association with Andhra Pradesh Industrial Development
Corporation, Ltd. (APIDC).

- The main object of the company is to manufacture cold rolled
steel strips, steel tubes, pipes, etc.

- The company entered into agreement with Metallurgical and
Engineering Consultants India Ltd. (MECON) to manufacture,
supply, erection and commission the cold rolling mill. The
Company also provided for civil and structural designs and
drawings, designs of utilities & services. MECON also assisted
the Company during civil construction, erection and commissioning
of equipment and trial runs.

1986 - 11,43,080 shares taken up by Indian promoters, directors, etc.
1,18,000 shares taken up by NRI promoters on repatriation basis.
4,97,500 shares taken up by APIDC.

1987 - Two generating sets of a total capacity of 880 KVA were
installed.

- 18,50,020 shares issued of which the following shares were
reserved and allotted:

- (i) 2,47,220 shares to promoters, directors, their friends &
relations;

- (ii) 2,82,000 shares to NRI promoters on repatriation basis and

- (iii) 800 shares to APIDC. Out of the remaining 13,20,000
shares, 1,80,400 shares were reserved for allotment on a
preferential basis to employees, but none were taken up. The
balance 11,39,600 shares along with 1,80,400 shares not taken up
by the employees were offered for public subscription during May
1988. The public issue was undersubscribed. The number of
shares devolved on the underwriters are not known.

1989 - The Company received a letter of intent for expansion of capacity
to 50,000 TPA from the existing 12,000 TPA.

1990 - 75,000-14% secured non-convertible redeemable debentures of the
face value of Rs.100 each were issued by private placement to SBI
Mutual Fund. These debentures are redeemable at a premium of 5%
after the expiry of 7 years from the date of allotment.

1991 - The Company incorporated Thomas & Beffs Pennar Ltd. in
collaboration with Thomas & Beffs Corporation, U.S.A.

- During September-October, the Company issued 12,02,867 No. of
equity shares at par to shareholders on rights basis in
proportion 1:3 (all were taken up).

- Another 60,143 No. of equity shares were offered at par to the
employees (including Indian working directors/workers of the
Company) on an equitable basis (all were taken up).

- Additional 1,80,417 shares allotted to retain oversubscription.

- 14,43,427 No. of rights equity shares issued in prop. 1:3.

1993 - 25,85,814 rights equity shares issued (prem. Rs. 30 per share) in
prop. 1:2.

1994 - Various measures were undertaken by the Company to meet the
additional demand for the Company's products from the domestic
and Industrial appliances and Automotive industries.

- A 3 MW wind energy farm was installed at Coimbatore.

2006

- Pennar Industries Ltd has informed that the Board of Directors of the Company at its meeting held on October 31, 2006, inter alia, has considered and approved the appointment of Dr G Vivekanand as additional director on the Board with effect from October 31, 2006. He is the Promoter and Managing Director of Visakha Industries Ltd.

2008

-Pennar Industries Ltd has appointed Shri Aditya Narsing Rao as Additional Director designated as Director (Projects).

-Pennar Industries Ltd has appointed Shri. A Krishna Rao as the Chairman of the Company by the Board of Directors at its meeting held on July 16, 2008.

2009

-The company has recommended a dividend of 20% i.e. Re 1/- per equity share of face value of Rs 5/- each.

2010

-Pennar Industries - PEBS Pennar launches new facility to manufacture Pre-Engineered buildings.

- Mr. Ch. Anantha Reddy as Managing Director of the company.

-Credit Analysis & Research Ltd (CARE) has revised upward the ratings assigned to the Bank facilities of the Company,the long term bank facilities have been upgraded to A- (A Minus) from BBB+ (BBB plus) and the short term facilities have been upgraded to PR2+ (PR2 plus) from PR2..

2011

-PEBS Pennar bags order from L&T for Chennai Metro Rail Workshops

- Mr. Manish Sabharwal and Mr. J Ramu Rao were appointed as Additional Directors of the company.

-PEBS Pennar bags three prestigious contracts worth Rs. 35 Crores

-Registered Office of the Company has been shifted 1-10-75/1/1-6, Third Floor, Saptagiri Towers, S.P Road, Begumpet, Hyderabad - 500016 To Floor No. -1, DHFLVC, Silicon Towers, Kondapur, Hyderabad - 500084.

2012

-The Company bagging of orders worth over Rs. 45 Crores.

-Pennar Industries arm bags orders worth Rs 22 cr from various vendors.

-The company receives 2 Prestigious Orders Including an Order from a Tata Steel Group Company.

-PennarSteels Wins Award for Excellence in All Round Performance from FAPCCI.

-PennarSteels Receipt of orders from ABB Ltd., Volvo India and others worth Rs. 50 Crore.

2013

-Registered Office of the Company has been changed to Floor No. 3, DHFLVC Silicon Towers, Kondapur, Hyderabad - 500084 with effect from May 10, 2013.
-"Pennar Industries secures receipt of orders from L&T, ABB, Ramky, Lanco, and others amounting to Rs. 40 Crore".
-"Pennar Industries and Pennar Engineered Building Systems announce Receipt of orders worth Rs. 50 Crore".
-"Pennar Industries forays into Hydraulics Business".
-Pennar received receipt of orders from Integral Coach Factory, Texmaco, J Kumar Infra Projects, ALF Engineering, IVRCL, IJM Infrastructure and others amounting to Rs. 50 Crores".
-Pennar secures receipt of orders from Shapoorji Pallonji & Co Ltd., Gland Pharma Ltd., Indian Logistics, Volvo India Pvt. Ltd. and other projects worth Rs.50 Crore".

2014

-Pennar Industrie secures reeceipt of Orders worth Rs. 105 Crores from Ultratech, Reliance Industries, Abhir Infra, Integral Coach Factory (ICF), BGR Energy, JSW and SRK Engineering among others.
-Pennar Industries wins award in Corporate Governance.
-Pennar Industries bags orders worth Rs 132 cr.
-Pennar Industries bags order worth Rs 102 cr. from Kannur International Airport, L & T, Holtech Asia, Rane, Renaissance Infrastructure, Azure Power, Xylem France, Integral Coach Factory.

2015
-PEBS won IEI Industry Excellence Award
-PEBS Received an award from INSDAG

2017
-Pennar Ind and its arm bag orders worth Rs 210 cr.
-Pennar Industries said that the company along with its subsidiaries has bagged orders worth Rs 252 crore across its business units.

2018

-Pennar Group bags orders worth Rs 317 crore.

2019

- Pennar Industries bags orders worth Rs 302 crore
-The Enviro division has received orders from Oriental Carbon, Cinda Engineering and others.

Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article