Pennar Industries is aiming to achieve 10% of income from exports over the next five years. The company is planning to garner Rs 5,000-crore revenue mark on the back of diversification into hydraulics and infrastructure sectors.
At present, the company’s infrastructure business contributes to 40% of its revenues, while railway and automobiles which were the major contributors so far have shown a decline to 13% and 22%, respectively.
Recently, the engineering steel equipment-manufacturer made a foray into the hydraulic equipment market by acquiring assets of Wayne-Burt Petro Chemicals, earlier known as Bailey Hydropower, a hydraulics cylinder manufacturing company in Chennai for Rs 15 crore.
Pennar Industries is engaged in the manufacturing of Cold Rolled Steel Strips (CRSS) and value-added products under Cold Rolled Formed Sections (CRFS) like precision tubes, engineered components, road safety systems, parts of railway coaches and Electro Static Precipitators (ESP).
