Pennar Industries Q1 Results Total Revenue ₹733.45 crores & Operating Income ₹55.03 crores

Pennar Industries Quarterly Growth

Pennar Industries Q1 Results: Pennar Industries' Q1 results show important financial information for the company. The total revenue for June 2024 was ₹733.45 crores, which is a decrease of 10.86% from March 2023's revenue of ₹668.43 crores. This decline indicates a quarter-on-quarter (QoQ) drop, meaning the company earned less money compared to the previous quarter. However, when we look at the year-over-year (YoY) comparison, the revenue decreased slightly by 2.06% from ₹748.89 crores in June 2023.

Pennar Industries’ operating income increased to ₹55.03 crores, a 12.63% rise compared to March 2023, showing good growth QoQ. When comparing YoY, this number has also improved significantly by 20.92% from ₹45.51 crores. Net income for June 2024 was ₹26.40 crores, which is a 21.05% increase YoY from ₹21.81 crores in June 2023. However, it fell by 7.72% compared to the previous quarter's net income of ₹23.34 crores. The diluted normalized earnings per share (EPS) reached ₹1.96, which is an increase of 20.99% YoY from ₹1.62. This reflects overall strong performance, especially in the long term, despite some quarterly challenges.

Here’s a summary of the quarterly results for Pennar Industries for Q1:

(All figures in crores except per share values)

Source: Here 

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Pennar Industries Q1 Results

Pennar Industries released its financial results for the quarter and year ending June 30, 2024. In the consolidated results, the total income for the quarter was ₹74,089 lakhs, which is a bit lower than the previous quarter's ₹83,928 lakhs but higher than ₹76,068 lakhs from the same quarter last year. This indicates a strong performance compared to last year, although there is a slight decline from the previous quarter. The total expenses were ₹70,546 lakhs, showing an increase from the previous quarter but still manageable given the overall income. The profit before tax was ₹3,543 lakhs, and after accounting for taxes, the net profit was ₹2,640 lakhs.

Pennar Industries’ total income was ₹60,553 lakhs, slightly lower than the previous quarter but higher than ₹59,279 lakhs from the same quarter last year. The expenses were ₹58,059 lakhs, leading to a profit before tax of ₹2,494 lakhs and a net profit of ₹1,856 lakhs. The company’s earnings per share increased to ₹1.96, reflecting a good return for shareholders. Overall, Pennar Industries showed solid growth in both consolidated and standalone figures, indicating a healthy financial position despite some fluctuations in income and expenses.

Here’s a simplified summary of the Consolidated and Standalone Financial Results for the Quarter and Year Ended June 30, 2024

(Amounts in Lakhs):

Pennar Industries Financial Metrics

Pennar Industries is a company with a market capitalization of ₹2,443 crore, indicating its total value in the stock market. The current stock price is ₹181, with a recent high of ₹204 and a low of ₹94.1, showing price fluctuations. The stock's price-to-earnings (P/E) ratio is 23.8, which helps investors understand how much they are paying for each unit of earnings. Its book value is ₹65.0, reflecting the company’s net asset value. 

Here’s the financial summary:

Quarterly Results 

In the quarters of December 2023, March 2024, and June 2024, Pennar Industries showed strong financial performance. In December 2023, the company earned Rs. 745 crores in sales, with expenses of Rs. 669 crores, resulting in an operating profit of Rs. 76 crores and a net profit of Rs. 25 crores. By March 2024, sales increased to Rs. 823 crores, while expenses rose to Rs. 758 crores, leading to an operating profit of Rs. 65 crores and a higher net profit of Rs. 29 crores. In June 2024, sales were Rs. 733 crores, expenses were Rs. 662 crores, and net profit was Rs. 26 crores, indicating stable performance.

Here's the data for the quarters December 2023, March 2024, and June 2024:

(Figures in Rs. Crores)

About Pennar Industries

Pennar Industries is a leading engineering and manufacturing company in India, established in 1988. The company started its journey with a manufacturing plant in Isnapur, Hyderabad. Over the years, Pennar Industries has expanded through important acquisitions, including Nagarjuna Steel and Press Metal, which helped them grow into new areas like Hydraulic Cylinders. They also set up additional facilities in Chennai and Hosur to produce auto components. Pennar Industries operates in various sectors, such as infrastructure, automobiles, power, and construction. 

Pennar Industries commitment to quality and customer satisfaction has established them as a significant player in the engineering field. With a strong focus on innovation and excellence, the company aims to meet the diverse needs of its clients while contributing to India's industrial growth. Overall, Pennar Industries is recognized for its advanced engineering solutions and dedication to providing high-quality products across multiple industries.