Pennar Industries Ltd

Event details

• Listing and trading approvals obtained for 550,000 shares issued on warrant conversion to promoter Pennar Holdings Pvt Ltd.
• Shares allotted to promoter Pennar Holdings Pvt Ltd on 14 July 2026.
• BSE and NSE approved listing and trading; listing effective 29 September 2026.
• Distinctive numbers 158,485,197 to 159,035,196; lock-in until 31-Mar-2028.
• Shares issued at premium of Rs 163 per share.

Pennar Industries Limited — trading window will be closed from 1 October 2026 and shall end 48 hours after the declaration of the Financial Results (Standalone & Consolidated) of the Company for the quarter and half year ended 30 September 2026.

AGM details

• AGM held on 24-09-2026 at 11:00 AM IST via e-AGM.
• Record date: 17-Sep-2026; total shareholders on record: 78,892.
• Attendees: Promoter group 12 and Public 75 via Video Conferencing.

Resolutions and outcomes

• Resolution 1: Adopt audited financial statements; passed with 99.57% in favour.
• Resolution 2: Appoint director in place of Eric James Brown; re-appointment approved.
• Resolution 3: Ratify remuneration payable to Kandikonda & Associates; approved with 99.57% in favour.

Directors

• Director to be appointed in place of retiring Eric James Brown; not named in filing.

Auditors

• Remuneration for Cost Auditors Kandikonda & Associates ratified for FY ending 31 March 2027.

AGM Details

• 50th AGM held 24 Sep 2026 at 11:00 AM IST via VC/OAVM.
• Remote e-voting from 21 to 23 Sep 2026; cut-off date 17 Sep 2026.

Key Resolutions

• Ordinary: Adopt audited financial statements and reports for year ended 31 March 2026.
• Ordinary: Re-appoint director retiring by rotation (Eric James Brown).
• Special: Ratify remuneration payable to Kandikonda & Associates for FY ending 31 March 2027.

Voting Results

• Voting results to be announced within 48 hours; Scrutiniser’s Report to be placed on company and exchange websites.

Director Changes

• Director retiring by rotation to be re-appointed.

Financial highlights

• Consolidated revenue from operations rose to ₹3,620.09 crore with 12.2% YoY growth.
• EBITDA ₹401.32 crore; PAT ₹138.83 crore; fourth consecutive year of PAT margin expansion.
• EPS ₹10.29; ROCE 20.23% for FY26.

Backlog and order book

• PEB India backlog ₹810 crore; exit utilization ~70%.
• US platform backlog ~USD 63 million; backlog up ~20% in year end.
• Order inflows in Q4 ₹902.26 crore; 4Q backlogs support next quarters.

Capital structure & liquidity

• Gross borrowings ₹1,141.52 crore; cash ₹269.93 crore; net debt ₹87,388 lakh.
• Net debt to equity at 0.75x; gearing targeted to ≤0.8x.
• Capex for next year guided to under ₹100 crore; funded from internal accruals.

Strategic developments & capital allocation

• Acquired US structural assets: Ascent Structural LLC, USD 14 million (June 2025).
• Divested Enertech Pennar Defense & Eng Systems (Sept 2025).
• ZAP91 Solar India JV: 45% stake; final ₹10.06 crore equity infusion.

Growth platforms & geography

• International revenue share rose to 24.1% of FY26 turnover.
• US buildings platform delivered double-digit revenue growth; manufacturing in TN and AL.
• Diversified Engineering and Body in White drive margin expansion amid portfolio shift.

Outlook & risks

• FY2026-27 target: at least 20% PAT growth; margin expansion via higher utilization.
• Capex modest, under ₹100 crore; targeted completion of Body in White facility and automation.
• Risks: commodity/energy inflation, tariffs, labour availability, currency movements, and high working capital.

ESG & sustainability

• Renewable energy used: 9,856 GJ; renewables ~12% of total energy.
• Waste: 1,506.73 MT hazardous waste; 76% recycled; water intensity 31.73 KL per ₹ crore.
• ZLD implementation with water reuse; intensive recycling and responsible effluent management.

Filing overview

• Subject: BRSR for FY2025-26; forms part of Annual Report 2025-26.
• Reporting boundary: standalone (not consolidated) disclosures.
• Assurance: not provided by an external provider.

Business footprint & product mix

• Main activities: Diversified Engineering 51.71%; Building Solutions 48.29%.
• Domestic footprint: 9 plants, 42 offices; International: 3 plants, 5 offices.

ESG metrics overview

• CSR turnover INR 3,62,009 Lakhs; net worth INR 1,16,315 Lakhs.
• Total locations 51; exports 1.43% of turnover.
• Total energy 83,000.79 GJ; emissions Scope 1 62.31 and Scope 2 14,260.61 tCO2e.

Governance & people

• Board: 8 directors; KMP: 2; female board representation 14.29%.
• LTIFR 0 for employees; ISO 45001 across all locations.

AGM and e-voting details

• 50th AGM set for 24 September 2026 at 11:00 IST via VC/OAVM.
• Remote e-voting from 21 September 2026, 9:00 AM, to 23 September 2026, 5:00 PM.
• Cut-off date for remote e-voting fixed at 17 September 2026.
• e-voting services provided by M/s KFin Technologies Limited.
• Voting facility available during AGM for attendees who have not voted remotely.

Key FY26 highlights

• FY26 consolidated revenue rose to 3,666.32 crore; EBITDA 401.32 crore; PAT 138.83 crore.
• EPS rose to ₹10.29 in FY26.
• Backlogs: PEB India ₹810 crore; US USD 63 million; Boilers ₹145 crore; Hydraulics ₹34 crore.
• Acquired US structural assets: Ascent Structural LLC for about USD 14 million.
• Divested Enertech Pennar Defense & Engineering Systems (51%) in Sept 2025.
• ZAP91 Solar India JV (45%) with Zetwerk: final equity ₹5.80 crore; Sadashivpet plant completion.
• Promoter convertible warrants approved for ₹50.4 crore; shareholder approval obtained.
• CARE reaffirmed long-term rating CARE A (Stable) and short-term CARE A1.
• FY27 outlook: at least 20% PAT growth; capex under ₹100 crore; Body in White commissioning; automation expansion.
• Governance: Board of eight; Potluri Venkateswara Rao resigned as Non-Executive Director w.e.f. 10-Apr-2026.

AGM Details

• Date/time: 24 September 2026 at 11:00 AM IST via VC/OAVM.
• Mode: VC/OAVM; venue deemed at registered office.
• Record date for voting: 17 September 2026.
• Remote e-voting window: 21-23 September 2026.
• Attendance cap: 1000 shareholders on first-come basis.
• e-voting agent: KFin Technologies Limited.
• Scrutinizer: Subhash Kishan Kandrapu.

Resolutions

• Ordinary Resolution: Adoption of standalone financial statements for year ended 31 March 2026.
• Ordinary Resolution: Adoption of audited consolidated financial statements for year ended 31 March 2026.
• Ordinary Resolution: Re-appointment of Eric James Brown as Director, liable to retire by rotation.
• Ordinary Resolution: Ratify remuneration of Kandikonda & Associates for cost audit at Rs 1,00,000 incl. taxes.

Director Details

• Eric James Brown, Non-Executive Non-Independent Director.
• Re-appointment by rotation; liable to retire by rotation.
• First appointed: 10 November 2017.
• Remuneration last drawn: Nil.
• Board meetings attended: 4 in 2025-26.
• Shares held: Nil.