New Risk • May 27
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • May 27
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: ₹10.29 (up from ₹8.84 in FY 2025). Revenue: ₹36.7b (up 14% from FY 2025). Net income: ₹1.39b (up 16% from FY 2025). Profit margin: 3.8% (up from 3.7% in FY 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 1.9%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 19
Pennar Industries Limited to Report Fiscal Year 2026 Results on May 26, 2026 Pennar Industries Limited announced that they will report fiscal year 2026 results on May 26, 2026 Buy Or Sell Opportunity • May 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.5% to ₹168. The fair value is estimated to be ₹211, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to grow by 48% in the next 2 years. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹151, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 97% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (75% net debt to equity). Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹149, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 86% over the past three years. Reported Earnings • Feb 19
Third quarter 2026 earnings: EPS and revenues exceed analyst expectations Third quarter 2026 results: EPS: ₹2.49 (up from ₹2.25 in 3Q 2025). Revenue: ₹9.43b (up 12% from 3Q 2025). Net income: ₹335.5m (up 10% from 3Q 2025). Profit margin: 3.6% (in line with 3Q 2025). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 25% per year. Price Target Changed • Feb 18
Price target decreased by 13% to ₹275 Down from ₹317, the current price target is provided by 1 analyst. New target price is 74% above last closing price of ₹158. Stock is down 4.0% over the past year. The company is forecast to post earnings per share of ₹10.10 for next year compared to ₹8.84 last year. Announcement • Feb 04
Pennar Industries Limited to Report Q3, 2026 Results on Feb 14, 2026 Pennar Industries Limited announced that they will report Q3, 2026 results at 12:15 PM, Indian Standard Time on Feb 14, 2026 New Risk • Jan 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (72% net debt to equity). Share price has been volatile over the past 3 months (6.8% average weekly change). Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹2.39 (vs ₹1.99 in 2Q 2025) Second quarter 2026 results: EPS: ₹2.39 (up from ₹1.99 in 2Q 2025). Revenue: ₹9.20b (up 23% from 2Q 2025). Net income: ₹322.8m (up 20% from 2Q 2025). Profit margin: 3.5% (in line with 2Q 2025). Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹231, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 252% over the past three years. Announcement • Oct 31
Pennar Industries Limited to Report Q2, 2026 Results on Nov 08, 2025 Pennar Industries Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 08, 2025 Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹263, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 495% over the past three years. Buy Or Sell Opportunity • Aug 14
Now 24% undervalued Over the last 90 days, the stock has risen 9.9% to ₹213. The fair value is estimated to be ₹280, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 27%. Revenue is forecast to grow by 16% in a year. Earnings are forecast to grow by 42% in the next year. Announcement • Aug 14
Pennar Industries Limited, Annual General Meeting, Sep 30, 2025 Pennar Industries Limited, Annual General Meeting, Sep 30, 2025. Reported Earnings • Aug 14
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: ₹2.37 (up from ₹1.96 in 1Q 2025). Revenue: ₹8.54b (up 16% from 1Q 2025). Net income: ₹319.4m (up 21% from 1Q 2025). Profit margin: 3.7% (up from 3.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 04
Pennar Industries Limited to Report Q1, 2026 Results on Aug 13, 2025 Pennar Industries Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Buy Or Sell Opportunity • Jul 25
Now 23% undervalued Over the last 90 days, the stock has risen 32% to ₹250. The fair value is estimated to be ₹325, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. New Risk • Jul 03
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risk Share price has been volatile over the past 3 months (7.5% average weekly change). Buy Or Sell Opportunity • Jun 12
Now 21% undervalued Over the last 90 days, the stock has risen 41% to ₹237. The fair value is estimated to be ₹300, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.6% over the last 3 years. Earnings per share has grown by 31%. Revenue is forecast to grow by 34% in 2 years. Earnings are forecast to grow by 83% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹247, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 565% over the past three years. Price Target Changed • Jun 04
Price target increased by 44% to ₹325 Up from ₹225, the current price target is provided by 1 analyst. New target price is 31% above last closing price of ₹248. Stock is up 78% over the past year. The company is forecast to post earnings per share of ₹12.10 for next year compared to ₹8.84 last year. New Risk • May 31
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.3x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • May 31
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹8.84 (up from ₹7.29 in FY 2024). Revenue: ₹32.6b (up 4.2% from FY 2024). Net income: ₹1.19b (up 21% from FY 2024). Profit margin: 3.7% (up from 3.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.9%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
Pennar Industries Limited to Report Q4, 2025 Results on May 29, 2025 Pennar Industries Limited announced that they will report Q4, 2025 results on May 29, 2025 Recent Insider Transactions • Mar 19
Vice Chairman & MD recently bought ₹1.5m worth of stock On the 11th of March, Aditya Rao bought around 9k shares on-market at roughly ₹170 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Aditya has been a buyer over the last 12 months, purchasing a net total of ₹13m worth in shares. Recent Insider Transactions • Mar 06
Non Executive Non-Independent Director recently sold ₹761k worth of stock On the 3rd of March, Potluri Rao sold around 5k shares on-market at roughly ₹152 per share. This transaction amounted to 8.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹4.0m. Insiders have been net sellers, collectively disposing of ₹18m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹174, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 400% over the past three years. Recent Insider Transactions • Feb 20
Non Executive Non-Independent Director recently sold ₹4.0m worth of stock On the 17th of February, Potluri Rao sold around 25k shares on-market at roughly ₹161 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹17m more than they bought in the last 12 months. Reported Earnings • Feb 15
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: ₹2.25 (up from ₹1.88 in 3Q 2024). Revenue: ₹8.46b (up 14% from 3Q 2024). Net income: ₹304.5m (up 20% from 3Q 2024). Profit margin: 3.6% (up from 3.4% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 06
Pennar Industries Limited to Report Q3, 2025 Results on Feb 14, 2025 Pennar Industries Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Recent Insider Transactions • Jan 01
Non Executive Non-Independent Director recently sold ₹2.0m worth of stock On the 26th of December, Potluri Rao sold around 10k shares on-market at roughly ₹196 per share. This transaction amounted to 8.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹4.6m. Insiders have been net sellers, collectively disposing of ₹9.2m more than they bought in the last 12 months. Recent Insider Transactions • Dec 12
Non Executive Non-Independent Director recently sold ₹2.7m worth of stock On the 9th of December, Potluri Rao sold around 12k shares on-market at roughly ₹221 per share. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹4.6m. Insiders have been net sellers, collectively disposing of ₹7.2m more than they bought in the last 12 months. Recent Insider Transactions • Nov 25
Non Executive Non-Independent Director recently sold ₹4.6m worth of stock On the 19th of November, Potluri Rao sold around 25k shares on-market at roughly ₹185 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹1.7m more than they bought in the last 12 months. Reported Earnings • Nov 14
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: ₹1.99 (up from ₹1.67 in 2Q 2024). Revenue: ₹7.54b (down 7.4% from 2Q 2024). Net income: ₹268.5m (up 19% from 2Q 2024). Profit margin: 3.6% (up from 2.8% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 5.2%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 84% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹173, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 494% over the past three years. Announcement • Oct 31
Pennar Industries Limited to Report Q2, 2025 Results on Nov 12, 2024 Pennar Industries Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹207, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Metals and Mining industry in India. Total returns to shareholders of 628% over the past three years. New Risk • Sep 27
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: ₹9.3m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risk Significant insider selling over the past 3 months (₹9.3m sold). Recent Insider Transactions • Sep 27
Non Executive Non-Independent Director recently sold ₹4.5m worth of stock On the 24th of September, Potluri Rao sold around 25k shares on-market at roughly ₹179 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹4.8m more than they sold in the last 12 months. Recent Insider Transactions • Sep 04
Non Executive Non-Independent Director recently sold ₹2.1m worth of stock On the 30th of August, Potluri Rao sold around 12k shares on-market at roughly ₹179 per share. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought ₹12m more than they sold in the last 12 months. New Risk • Aug 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). Share price has been highly volatile over the past 3 months (9.8% average weekly change). Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹195, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 554% over the past three years. Recent Insider Transactions • Aug 19
Vice Chairman & MD recently bought ₹7.1m worth of stock On the 16th of August, Aditya Rao bought around 42k shares on-market at roughly ₹171 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Aditya has been a buyer over the last 12 months, purchasing a net total of ₹14m worth in shares. Price Target Changed • Aug 17
Price target increased by 21% to ₹225 Up from ₹186, the current price target is provided by 1 analyst. New target price is 33% above last closing price of ₹169. Stock is up 78% over the past year. The company is forecast to post earnings per share of ₹9.60 for next year compared to ₹7.29 last year. Announcement • Aug 13
Pennar Industries Limited, Annual General Meeting, Sep 28, 2024 Pennar Industries Limited, Annual General Meeting, Sep 28, 2024. Reported Earnings • Aug 13
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: ₹1.96 (up from ₹1.62 in 1Q 2024). Revenue: ₹7.41b (down 1.1% from 1Q 2024). Net income: ₹264.0m (up 21% from 1Q 2024). Profit margin: 3.6% (up from 2.9% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) exceeded analyst estimates by 8.9%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 01
Pennar Industries Limited to Report Q1, 2025 Results on Aug 12, 2024 Pennar Industries Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Buy Or Sell Opportunity • Jul 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 29% to ₹183. The fair value is estimated to be ₹151, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Buy Or Sell Opportunity • Jul 01
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to ₹168. The fair value is estimated to be ₹138, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Recent Insider Transactions • Jun 10
Vice Chairman & MD recently bought ₹2.0m worth of stock On the 4th of June, Aditya Rao bought around 16k shares on-market at roughly ₹127 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth ₹3.0m. Aditya has been a buyer over the last 12 months, purchasing a net total of ₹7.0m worth in shares. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹169, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 521% over the past three years. New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risk Share price has been volatile over the past 3 months (8.4% average weekly change). Buy Or Sell Opportunity • May 31
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 4.5% to ₹144. The fair value is estimated to be ₹117, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 71% in the next 2 years. Reported Earnings • May 23
Full year 2024 earnings released: EPS: ₹7.29 (vs ₹5.49 in FY 2023) Full year 2024 results: EPS: ₹7.29 (up from ₹5.49 in FY 2023). Revenue: ₹31.7b (up 9.5% from FY 2023). Net income: ₹983.4m (up 30% from FY 2023). Profit margin: 3.1% (up from 2.6% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 9.5% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 16
Pennar Industries Limited to Report Q4, 2024 Results on May 22, 2024 Pennar Industries Limited announced that they will report Q4, 2024 results on May 22, 2024 Announcement • Apr 27
Pennar Industries Limited Approves Appointment of V S Parthasarathy as an Independent Director Pennar Industries Limited announced the shareholders approved appointment of Mr. V S Parthasarathy as an Independent director of the company. Announcement • Mar 28
Pennar Industries Limited Announces Cessation of Manish Sabharwal as Independent Director Pennar Industries Limited announced that Mr. Manish Sabharwal, has completed his second and final term as an Independent Director and consequently ceased to be a Director of the Company effective 31st March, 2024. The Board of Directors and the Management of the Company expressed deep appreciation and gratitude to Mr. Manish Sabharwal for his extensive contribution and stewardship. Recent Insider Transactions • Mar 22
Vice Chairman & MD recently bought ₹3.0m worth of stock On the 19th of March, Aditya Rao bought around 25k shares on-market at roughly ₹121 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Aditya's only on-market trade for the last 12 months. Buy Or Sell Opportunity • Mar 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.1% to ₹122. The fair value is estimated to be ₹154, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 61% in the next 2 years. Reported Earnings • Feb 11
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: ₹1.88 (up from ₹1.56 in 3Q 2023). Revenue: ₹7.51b (up 8.5% from 3Q 2023). Net income: ₹253.9m (up 19% from 3Q 2023). Profit margin: 3.4% (up from 3.1% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) exceeded analyst estimates by 4.4%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 8.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 87% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 09
Pennar Industries Limited Announces Resignation of B Kamalaker Rao as Non-Executive Independent Director Pennar Industries Limited informed that Mr. B Kamalaker Rao (DIN: 00038686), Non-Executive Independent Director, vide letter dated 9th February, 2024, has tendered his resignation from the Board of the Company. Announcement • Jan 30
Pennar Industries Limited to Report Q3, 2024 Results on Feb 09, 2024 Pennar Industries Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹121, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 549% over the past three years. Reported Earnings • Nov 11
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ₹1.67 (up from ₹1.18 in 2Q 2023). Revenue: ₹8.20b (down 1.7% from 2Q 2023). Net income: ₹225.3m (up 35% from 2Q 2023). Profit margin: 2.7% (up from 2.0% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 31
Pennar Industries Limited to Report Q2, 2024 Results on Nov 09, 2023 Pennar Industries Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹122, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 670% over the past three years. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to ₹109, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 12x in the Metals and Mining industry in India. Total returns to shareholders of 517% over the past three years. Announcement • Aug 12
Pennar Group Announces Board Changes Pennar Group announced a leadership transition. As per the company, Nrupender Rao, Chairman has decided to step down from his position and R V S Ramakrishna has been appointed as the new independent chairman of the group. Nrupender Rao will now bear the title of chairman emeritus, the company stated. Over the years, under Rao's leadership, Pennar Group has expanded from a commodity steel manufacturer to a multinational engineering company with presence in the Automotive, Hydraulics, Energy, Infrastructure and Engineering Services verticals. Notably, Ramakrishna has a professional journey in the engineering sector spanning more than four decades. An engineering graduate in Chemical Technology from Birla Institute of Technology and Science (BITS) Pilani; he started his career with Coromandel Fertilisers Limited, Visakhapatnam as a graduate engineer trainee. Ramakrishna pursued PGDM from the Indian Institute of Management, Ahmedabad in 1982. Post completion, he joined ITW Signode India Ltd. as an area sales executive based in Jamshedpur. Owing to his engineering prowess and business acumen, he was inducted on the Board of ITW Signode in 1995 as a whole time director to head its Steel Business. He went on to lead ITW Signode India Ltd. as its managing director from June 1999 and as group president- APAC and MEA regions comprising Signode India, China, MEA, Japan, Korea, and ASEAN in 2011. Ramakrishna retired from his executive roles on December 31, 2020. He held the position of the chairman of the Indian Institute of Packaging from 2016 to 2019 and was also an active member of CII (AP and Telangana). Reported Earnings • Aug 11
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ₹1.02 (up from ₹1.00 in 1Q 2023). Revenue: ₹7.61b (up 8.7% from 1Q 2023). Net income: ₹218.1m (up 55% from 1Q 2023). Profit margin: 2.9% (up from 2.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 25%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 74% per year and the company’s share price has also increased by 74% per year. Announcement • Jul 29
Pennar Industries Limited to Report Q1, 2024 Results on Aug 09, 2023 Pennar Industries Limited announced that they will report Q1, 2024 results at 3:30 PM, Indian Standard Time on Aug 09, 2023 Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹79.35, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Metals and Mining industry in India. Total returns to shareholders of 338% over the past three years. Price Target Changed • May 30
Price target increased by 9.4% to ₹93.00 Up from ₹85.00, the current price target is provided by 1 analyst. New target price is 35% above last closing price of ₹68.90. Stock is up 88% over the past year. The company is forecast to post earnings per share of ₹6.90 for next year compared to ₹5.49 last year. Reported Earnings • May 26
Full year 2023 earnings: EPS in line with expectations, revenues disappoint Full year 2023 results: EPS: ₹5.49 (up from ₹2.94 in FY 2022). Revenue: ₹29.3b (up 29% from FY 2022). Net income: ₹754.3m (up 80% from FY 2022). Profit margin: 2.6% (up from 1.8% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 31%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 17
Pennar Industries Limited to Report Fiscal Year 2023 Results on May 24, 2023 Pennar Industries Limited announced that they will report fiscal year 2023 results on May 24, 2023