Makes pre-engineered buildings, tubes, hydraulics, boilers & BIW parts for infra, auto, rail, energy.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 870 | +2.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 11.0 | +1.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 35.0 | +9.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 13.14 | +0.0 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -3.48 | −7.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 9.13 | +9.1 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Guidance
1 of 8 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| India Order Book | cross Rs. 1,000 crores in the next few months | Q2 FY26 | PEB India order book reached ₹1,008 crores. The target was met, albeit three quarters later than the 'few months' guidance. | Achieved |
| Working Capital Days | 72 days in the short term | Q3 FY25 | Promise not mentioned. Focus has shifted to the newer 75-day target. This original promise is considered abandoned. | Missed |
| PBT Margin | 7.5% PBT margin in the next three years | Q2 FY26 | Management guided for 7% PBT over the next 3 years. This is a walk-back from the implied 9.4% PBT target (from Q3 FY26) and even weaker than the original 7.5% target. | Revised Down |
7 of Pennar Industries Limited's 16 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 13 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹255.7 on 24 Oct 2025 → ₹157.76. High ₹275.95 (7 Nov 2025), low ₹130.92 (30 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Pennar Industries is a diversified engineering and manufacturing conglomerate that designs, fabricates and supplies precision-engineered components and structures to infrastructure, mobility and energy customers in India and abroad. It operates through two core verticals — Diversified Engineering (body-in-white auto components, hydraulics, railway wagons, industrial boilers & heaters, precision steel tubes, and cold-rolled steel products/profiles) and Customised Engineering Products (pre-engineered buildings, structural steel and structural engineering solutions). The company runs its own in-house design, tool-development and R&D teams alongside its manufacturing plants, and has expanded internationally through subsidiaries such as Pennar Global Inc. (engineering services, USA), Ascent Buildings (pre-engineered buildings, USA) and a Pennar-Zetwerk joint venture for solar module manufacturing.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
1 of 8 judged targets kept · 8 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| India Order Book | cross Rs. 1,000 crores in the next few months | Q2 FY26 | PEB India order book reached ₹1,008 crores. The target was met, albeit three quarters later than the 'few months' guidance. | Achieved |
| Working Capital Days | 72 days in the short term | Q3 FY25 | Promise not mentioned. Focus has shifted to the newer 75-day target. This original promise is considered abandoned. | Missed |
| PBT Margin | 7.5% PBT margin in the next three years | Q2 FY26 | Management guided for 7% PBT over the next 3 years. This is a walk-back from the implied 9.4% PBT target (from Q3 FY26) and even weaker than the original 7.5% target. | Revised Down |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 16 tracked commitments, with each call’s wording and source.
Call summaries
Pennar Industries Limited Q1 FY27
Pennar Industries reported moderate revenue growth in Q1 FY27, but strong profitability expansion driven by improved margins and cost tactics. Record order books in PEB India, PEB US, and Boilers provide robust revenue visibility. While legacy businesses saw a decline and Hydraulics faced headwinds, management is confident in double-digit growth for core segments and overall PAT growth of 20% for FY27.
Read the full callPennar Industrie Q4 FY26
Pennar Industries reported a strong Q4 and record FY26 performance, with revenue and PAT reaching all-time highs. Growth was driven by PEB U.S. and Engineering Services, while PEB India's order backlog expanded. The company is focused on improving working capital and reducing debt, with a commitment to 20% PAT growth for FY27, supported by automation and high-margin business mix.
Read the full callPennar Industrie Q3 FY26
Pennar Industries reported a quarter of solid top-line growth driven by its Diversified Engineering segment. However, profitability was tempered by approximately ₹4 crores in one-time employee-related provisions, leading to a modest 10.14% PAT growth. Management indicated that past labor issues in the PEB India business are now resolved, and with a strong order book across key verticals (PEB India, PEB US, Boilers), they expect a significant ramp-up in execution and a return to 20%+ profit growth from Q4 onwards. The recently acquired Telco business in the US is also expected to start contribu
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +9% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 748 | 840 | 906 | 846 | 907 | 943 | 925 | 870 |
| Expenses | 672 | 768 | 814 | 760 | 825 | 860 | 820 | 778 |
| Operating profit | 75 | 72 | 92 | 86 | 81 | 83 | 105 | 93 |
| Operating margin | 10.0% | 9.0% | 10.0% | 10.0% | 9.0% | 9.0% | 11.0% | 11.0% |
| Other income | 6 | 16 | 7 | 8 | 13 | 16 | 9 | 14 |
| Interest | 28 | 31 | 34 | 35 | 34 | 34 | 34 | 36 |
| Depreciation | 17 | 17 | 18 | 19 | 19 | 22 | 25 | 24 |
| Profit before tax | 36 | 40 | 48 | 40 | 41 | 43 | 55 | 47 |
| Tax rate | 25.0% | 23.0% | 24.0% | 20.0% | 21.0% | 22.0% | 26.0% | 24.0% |
| Net profit | 27 | 30 | 36 | 32 | 32 | 34 | 41 | 35 |
| EPS (₹ per share) | 1.99 | 2.26 | 2.64 | 2.37 | 2.39 | 2.49 | 3.04 | 2.62 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 2,894 | 3,131 | 3,227 | 3,621 |
| Expenses | 2,677 | 2,858 | 2,916 | 3,265 |
| Operating profit | 217 | 273 | 311 | 355 |
| Other income | 37 | 40 | 36 | 46 |
| Interest | 92 | 115 | 120 | 137 |
| Depreciation | 65 | 67 | 69 | 85 |
| Profit before tax | 100 | 131 | 159 | 179 |
| Net profit | 75 | 98 | 119 | 139 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 71 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 664 | 711 | 809 | 931 | 1,002 | 1,096 |
| Borrowings | 646 | 685 | 785 | 812 | 993 | 1,162 |
| Other liabilities | 760 | 855 | 978 | 1,143 | 1,268 | 1,224 |
| Total liabilities | 2,141 | 2,318 | 2,640 | 2,953 | 3,331 | 3,549 |
| Fixed assets | 644 | 721 | 697 | 947 | 1,046 | 1,111 |
| Capital work in progress | 76 | 18 | 218 | 53 | 125 | 136 |
| Investments | 45 | 27 | 22 | 12 | 15 | 27 |
| Other assets | 1,376 | 1,552 | 1,704 | 1,941 | 2,145 | 2,275 |
| Total assets | 2,141 | 2,318 | 2,640 | 2,953 | 3,331 | 3,549 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -43 | 195 | 244 | 225 | 256 | 202 |
| Cash from investing | -6 | -98 | -26 | -256 | -104 | -349 |
| Cash from financing | 43 | -92 | -113 | -22 | -100 | 211 |
| Net cash flow | -5 | 4 | 105 | -53 | 52 | 64 |
| Free cash flow | -95 | 138 | 173 | -22 | 130 | -126 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 102 | 68 | 46 | 58 | 66 | 74 |
| Inventory days | 193 | 167 | 159 | 155 | 178 | 176 |
| Days payable | 176 | 142 | 118 | 149 | 167 | 157 |
| Cash conversion cycle | 120 | 94 | 86 | 64 | 77 | 93 |
| Working capital days | 23 | 2 | -9 | -11 | 4 | -1 |
| Return on capital employed | 5.0% | 10.0% | 13.0% | 16.0% | 16.0% | 15.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The businesses behind the company’s reported revenue.
Custom designed building solutions & auxiliaries contributes 56.9% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
₹507.79 crore
₹385.27 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Custom designed building solutions & auxiliaries | 507.79 | 56.9% |
| Diversified engineering | 385.27 | 43.1% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Each segment’s share of reported revenue, quarter by quarter.
| Segment | Jun 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Custom designed building solutions & auxiliaries | — | 51% | — | 48% | 50% | 46% | 55% | 57% | +23.3% |
| Diversified engineering | — | 49% | — | 52% | 50% | 54% | 45% | 43% | -14.6% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
To justify its price of ₹158, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~23%. At that growth it is worth ₹304 — upside of 93%.
Ownership
Public hold 50.54% as of Sept 2026; institutions cut 0.33 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Pennar Industries Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 15.91% | +0.34 pp | |
| 6.64% | unchanged | |
| Mutual fund | 5.79% | +0.06 pp |
| 5.12% | unchanged | |
| 4.44% | unchanged | |
| 1.77% | unchanged | |
| 1.37% | unchanged | |
| 1.36% | unchanged | |
| 1.32% | unchanged | |
| 1.29% | unchanged | |
| 1.25% | unchanged | |
| 1.01% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
Free account: one company. Everything above stays public.
Write why you follow Pennar Industries Limited and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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Guides on how to read this kind of business and the numbers that matter.
