Pennar Industries Share Price

Formerly known as Pennar Steels, the company that is now known as Pennar Industries Ltd. was established in August of 1975. J. Naresh Kumar and the Andhra Pradesh Industrial Development Corporation worked together to develop the company in the joint sector (APIDC). PSL can produce cold-rolled coils (CRCs) with a thin width of up to 700 mm, which are then distributed to industries like the automotive and white goods sectors.

The firm's customers include Jay Bharat Maruti and Mahindra & Mahindra in the vehicle industry. The company offers CRCs to Godrej Kelvinator and Voltas in the white goods industry. PSL's sales may be broken down into two categories: automotive and everything else.

In 1989–1990, the firm embarked on an expansion programme with the goal of gradually increasing production capacity from 12,000 tpa to 60,000 tpa over the course of many years. Its capacity was extended to 36,000 tpa during the first phase of the expansion, which was finished in 1990-1991. In the years 1991 and 1992, PSL established a firm known as Thomas & Betts Pennar as a joint venture in conjunction with Thomas & Betts Corporation in the United States to produce various kinds of electronic connections.

PIL began diversifying its operations in 1993–1994 by establishing a wind energy farm with a capacity of 3 megawatts (MW) close to Coimbatore, Tamil Nadu, as well as a project to manufacture value-added pressed and fine blanked metal components, both of which went into operation in the following years: 1994–1995 and 1995–1996. It was in September of 1995 that they were awarded the ISO 9002 accreditation by RWTUV in Germany.

The firm purchased production facilities in the cold-forming sections and products of Tube Investments of India Ltd. in 1999-2000. These facilities were located in Tarapur and Chennai. Because more than half of the company's net value had been completely depleted by the end of June 2001, the business was classified as a sick industrial concern.

The firm maintained its attempts to expand the amount of value-added items such as cold-formed metal profiles engineering components and road safety systems as it diversified its product mix. Do you want to know more about Pennar Industries Shares? Click Here to know about Pennar Industries Share Price for today.