Pennar Industries Limited — Investor Meet, 18-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Pennar Industries reported Q3 FY26 revenue of INR 943 Cr, up 12.31% YoY, with PAT at INR 33.55 Cr, a 10.14% increase. PAT was impacted by ~INR 4 Cr in one-time employee-related costs; adjusted for these, growth would be ~20%. ROCE stood at 21.3%, ROE at 12.1%.

Diversified Engineering revenue surged 25.19%, driven by steel, boiler, and BIW segments. PEB India's labor issues are now resolved, leading to expectations of robust Q4 growth. The US PEB segment (Ascent + Ascent Structural) has a combined order backlog of $62 million, with Ascent Structural's acquisition contributing from Q4. The Boilers division saw its order backlog jump to INR 123 Cr, becoming a key growth lever. Management targets double-digit sales growth, aiming for 15%, and 20%+ PAT growth, with long-term PAT margins of 7% within 2-3 years. All key verticals are poised for growth, signaling a confident outlook.