Pennar declares 20 pct dividend for FY09

Businesswire India
Posted: Monday, Jul 06, 2009 at 1047 hrs IST
Updated: Monday, Jul 06, 2009 at 1047 hrs IST

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Hyderabad: The Board of Directors of Pennar Industries, a leading engineering company, at its meeting held on 3rd July 2009 have recommended a dividend of 20% amounting to Rs. 1 per equity share of Rs. 5 each.

The company posted its best ever performance with a sales turnover of Rs. 730 Crore with gross profit (EBIDTA) of Rs. 76 Crore, cash profit of Rs. 55.5 Crores and Net Profit of Rs. 38.1 Crores. The annualized cash EPS for the quarter is Rs. 4.39 per equity share of Rs. 5 par value.

Pennar continued to grow quarter on quarter basis for the last twenty consecutive quarters, both in terms of volume and profits. The company has also strengthened its position and bettered its profit margins by diversifying its product range to become a leading engineering company. The company has moved into the heavy engineering sector with the manufacture of bodies, chassis and profiles for railway wagons and coaches. The company makes a host of products for diverse industries viz., railways, infrastructure, construction, engineering and automotive.

Pennar is planning to further increase its turnover and improve its EBIDTA margins and profits during the current financial year by increasing the share of value added engineering products and further diversifying the product base.

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