Pennar Engineered Building Systems Ltd Merged Company Summary

Pennar Engineered Building Systems Ltd Merged Summary

Pennar Engineered Building Systems Limited is one of the leading custom designed building systems solution providers in India. It is into design, manufacture, supply, service and installation of pre-engineered steel buildings, building components and erection for industries, warehouses, commercial centres, multi storied buildings, aircraft hangars, defense installations, amongst others.The company has its manufacturing facility at Ankenpally Village, Sadashivpet in the State of Telangana on the Hyderabad-Mumbai National Highway (NH-9). It is equipped with high-precision machines to fabricate and supply quality-replete steel buildings and has a production capacity of 1,10,000 MT per annum of fabricated structural metal products a year. Pennar Engineered Building Systems was incorporated as a public limited company on January 17, 2008. It is a part of the Pennar Group of companies and promoted by Pennar Industries Ltd.The company made its Initial Public Offering (IPO) consisting of a Fresh Issue of Rs 58 crore and an offer for sale of 5,516,141 Equity Shares from selling shareholders. The issue was open for subscription during the period from 25 to 27 August 2015. The IPO was priced at Rs 178 per share. The shares of the Company were listed on BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) on September 10, 2015.During the year ended 31 March 2016, the company executed significant portion of prestigious projects of MRF, Tian, Reliance NDC Tumkur, Kannur International airport, ITC Green Center, Reliance data center, Station buildings at Hyderabad Metro, IOT Anwesha. In addition to repeat customers like L&T, Ultratech, Reliance, Schindler, PL Raju, AGI Glasspac, Kumar Raja, Kaveri Seeds, Hyderabad Metro Rail, Azure Power, Pokarna, Myhome Cements, the Company was able to get orders from new customers like Tata Projects, Biological E, UK Textiles, Rane Diecast, Kongavi, Hetero Pharma, Mylan, Tian, Siemens, KEC, New Era. During the year under review, the company developed and supplied Toilet blocks for Greater Hyderabad Municipal Corporation (GHMC). During the year under review, the company opened a new office at Vishakhapatnam to pursue emerging services business.During the financial year ended 31 March 2017, the company received new major orders from Shahi Exports, TATA Projects, SG Pharma, Greenko Group, Hindustan Coca Cola Beverages, Technico-Vithalapur, JSW Cement, JSW Paint, Toyo Engineering, Amplus Energy Solutions, Aequs SEZ, Walmart India, AK Bandhus, Nandi Printers, Amyraah Properties, RKV Developers, SOBISCO, Amazon, and Freight Systems. Projects were executed for Shapoorji Pallonji & Co., KMV Projects Limited, Azure Power, UltraTech Cement Limited, RCC Infra, Bhagwat Chattels, RKV Developers, Indus Projects, Hetero Labs, and VEE Rubber. Repeat orders were received from Shahi Exports, Greenko Group, Hindustan Coca Cola Beverages, Technico-Vithalapur, JSW Cement, Shapoorji Pallonji & Co., Aequs SEZ, AGI Glass PAC, Avenue Supermart, Hetero Drugs, HIL Limited, RCC Infra, L&T, and UltraTech.During the year under review, the company took new initiatives in developing Telecom Towers Model for Reliance Phase II. During the year under review, the company signed a MOU with Ramboll (Denmark MNC) specialised in designing towers. During the year under review, the Company developed models for toilets using steel structures for Thane Municipal Corporation. During the year under review, the company commenced the production from its leased Baroda facility. The Company is now in the leading position in India in pre-engineered building (PEB) systems business. During the year under review, the companys production increased with 4 full-fledged facilities across India - 3 Beam Lines facilities in Hyderabad and 1 beam line facility in Baroda. New machineries have been introduced to Solar manufacturing plants. A lot of production work previously outsourced has now been converted to in-house. Additional facilities have been added to develop structural works in and around Hyderabad to increase productionDuring the financial year ended 31 March 2018, the company received major orders from Bridgestone India Ltd., URC Constructions, Hyundai-KIA motors, JSW Cement Ltd., Reliance Tower, Renaissance Warehouse, Hitex Exhibition Centre, CFCL, JSW Paints Pvt. Ltd., Phoenix, Ikea Retail Store, TVS Infrastructure and Shapoorji & Pallonji. Repeat orders were received from Reliance Cash And Carry, Toyo Engineering, Shapoorji & Pallonji, KMV Projects, RKV Developers, TVS Infrastructure, Azure Power, Clean Max Solar, Reliance Tower, Asian Fabtech Limited, Hetero Drugs and Aequs Sez Ltd. During the year under review, the company executed projects from L&T, Shapoorji & Pallonji, Mylan Laboratories, Sterling & Wilson, Indus Projects, UTCL, Schindler, Aequs Sez Ltd., Kongavi Electronics and Hetero Drugs.The Scheme of Amalgamation of Pennar Engineered Building Systems and Pennar Enviro Limited with Pennar Industries Limited (the Company) and their respective shareholders under section 230 to 232 of the Companies Act, 2013 and other applicable provisions of the Companies Act, 2013 and the rules framed thereunder (Scheme) was approved by the Board of Directors of the Company on 10 November 2017.