‘Indian economy cannot go down any further and should recover in about six months’

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: to new opportunities. It, in fact, acquired the Press Metal profiles division of Tube Investments, which had a plant at Tarapur near Mumbai. We also inaugurated our Chennai facility last year to service the auto sector and the rail coach factory.

What is the road ahead for the company? What would be the focus areas in the coming years?

Railways is one area where the company sees a lot of business potential. Indian Railways is modernising its fleet of rail cars with high strength stainless steel profiles. Pennar has developed these profiles for four models of rail wagons and has started supplying to the Indian Railways and their wagon vendors. Besides, it has also executed trial orders for the stainless steel side walls, end walls and roof for railway coaches made by ICF in Chennai. Five years ago, we started working with the Railways to make floor completely with stainless steel. It is only now that we have been finally approved by them. Railways has about 200,000 wagons. And if they decide to convert even 20,000 to 30,000 coaches every year, it has good business potential for us.

Are you also planning to expand into newer businesses?

We are also looking at the non-conventional energy segment. We have initiated studies on the feasibility of the project. Once the feasibility of the project is ascertained, the company would look at initiating collaborations either with domestic or international players for this initiative. The other focus area for us would be the pre-engineered buildings. The company has already made a beginning by forming another entity called Pennar Engineered Building Systems Ltd (PEBSL) within the Pennar group.

What is the idea behind setting up Pennar Engineered Building Systems Ltd?

Pre-engineered buildings are best suited for all industrial segments and are fast emerging as a preferred choice of every business house. To take advantage and target this business opportunity, the group has established the subsidiary, PEBSL, in association with the My Home group. PEBSL is setting up a facility for the design, manufacture, supply and erection of pre-engineered steel buildings and building components.