PENNAR INDUSTRIES LTD

Manufactures engineered components and pre-engineered buildings through 14 plants spread across India, the USA, France, Germany and the UAE. The business is split into two near-equal segments: Diversified Engineering (50.5% of segment revenue, ₹1,871.77 crore in FY26), which covers industrial components, tubes, steel, railway components, hydraulic cylinders, boilers and engineering services; and Custom Designed Building Solutions & Auxiliaries (49.5%, ₹1,835.60 crore), which is the pre-engineered buildings (PEB) business operated in India and the US. PEB India carried an order backlog of ₹810 crores at FY26 end with capacity utilisation at 70%, PEB US had a $63 million backlog including the Ascent Structural acquisition, and the boiler backlog stood at ₹145 crores. Named customers include Reliance, JSW Steel, Air India, Saint Gobain and Wabtec. Materials are the biggest cost line at 58% of revenue, with employees at 10.8% and other operating costs at 21.5%. International revenue made up 24.1% of FY26 revenue. The company has also invested ₹5.80 crores for a 45% stake in ZAP91 Solar India, a joint venture building a solar module plant in Sadashivpet, Telangana.