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Saturday, November 14, 2009

Pennar Industries Ltd:Future growth prospects and outlook,buy/sell/hold,analysis and recomendation

Scripscan:Pennar Industries Ltd

Story:Pennar Industries Limited manufactures cold rolled steel strips and formed metal profiles in India. The company provides cold roll formed sections used in commercial and passenger vehicles; railway coaches and wagons; industrial buildings; pollution control equipments; and door and window frames for housing. It also offers pre-engineered and factory finished building capabilities, including lattice-type portals made of cold formed profiles or portals of plate girder construction; and roofing and side-cladding made of galvanized/galvalume color-coated steel sheet profiles. In addition, the company provides pressed steel components for the refrigeration and white goods; and automobiles’ seating systems and rotor cups. Further, it offers electro static precipitators, including collecting electrodes and discharge electrodes for pollution control; metal crash barriers for road safety systems; and cold rolled steel strips for use in automobiles, white goods, domestic appliances, bearings, and general engineering sectors. Additionally, Pennar Industries provides ERW tubes for various industries, such as automotives, electrical, construction, furniture, and general engineering. The company was founded in 1988 and is based in Hyderabad, India.Pennar was able to achieve excellent results in the last fiscal despite the challenging economic conditions due to diversified product mix and increasing the sales of rail wagons and rail coach products, road safety systems and building products. The Companys long experience in the profiling industry, competitive pricing, product differentiation and timely execution of the orders from customers helped it to overcome recession.With the economy slowly turnarounding, pennar is expected to post bumper results going forward.Valuation is a concern here,it can only move bigtime provided the numbers commensurate with it.A hold as of now.

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