What Pennar Industries does

Pennar Industries Limited is a publicly listed Indian precision engineering conglomerate headquartered in Hyderabad, founded in 1988 as a cold-rolling steel company and evolved into a diversified multi-vertical engineering platform. It operates across seven primary verticals: Pre-Engineered Buildings (PEB), Precision Tubes, Process Heating (custom-built boilers, including acquired Veesons technology), Engineered Components (hydraulics, automotive body-in-white and chassis), Engineering Services (BIM, structural design), Industrial Automation, Railway Sub-Assemblies, and — through the ZAP91 Solar India joint venture — solar PV modules and cells. The company operates ten or more ISO-certified manufacturing facilities in India, plus a PEB plant in Portland, Tennessee, and international subsidiaries in Germany and France, employing roughly 4,800 people.

Its core offerings span heavy-engineering products (PEB structural systems using proprietary Double Lok standing-seam roofing; cold-formed steel sections using NCI-licensed designs; hydraulic cylinders with 225,000-unit capacity post the Wayne-Burt acquisition; boiler pressure parts with ASME 'U'/'NB'/'S' certification) and lighter-precision engineered components (Body-in-White parts, chassis, suspensions, white-goods components) with technology licensing from NHK Spring (Japan). Engineering services are delivered through BIM-based workflows, REVIT plug-ins, and tools including Tekla, SDS/2, Staad Pro, and Autodesk Revit, while the Industrial Automation vertical delivers PLC-SCADA-DCS-based process control systems. The platform's R&D and product engineering are anchored by IATF 16949, AS9100, IRIS ISO 22163 (rail), RDSO/RITES approval, and aerospace qualifications.

Pennar's business model is B2B project- and contract-based manufacturing. It generates revenue through (i) large one-off industrial orders (PEB, boilers, solar), (ii) multi-year OEM supply contracts for automotive, white-goods, and railway components, and (iii) fee-based engineering design services. Its customer base of 500+ enterprises is anchored by Tata Motors, Maruti Suzuki, Hyundai, Toyota, Ford, Honda, Ashok Leyland, BHEL, NTPC, Boeing, Stellantis, and De Dietrich. With FY26 consolidated revenue of Rs 3,620.09 crore (~USD 435 million) and PAT of Rs 138.83 crore, the model demonstrates steady, diversified compounding funded by a mix of internal accruals and modest leverage.

Name

Pennar Industries

Legal name

Pennar Industries Limited

Website

https://pennarindia.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Pennar Industries is a publicly listed Indian precision engineering conglomerate operating across Pre-Engineered Buildings, Precision Tubes, Process Heating, Hydraulics, Engineered Components, Engineering Services, and Solar verticals, serving 500+ enterprise customers globally via 10+ manufacturing facilities in India, the US, and Europe.

Ownership category

akta.pro rank

Product category

Industrial Engineering & Manufacturing

NAICS

Other General Purpose Machinery Manufacturing (3339), Power Boiler and Heat Exchanger Manufacturing (332410), Fabricated Pipe and Pipe Fitting Manufacturing (332996), Mechanical Power Transmission Equipment Manufacturing (333613), Boiler, Tank, and Shipping Container Manufacturing (3324)

SIC

Fabricated Plate Work (Boiler Shops) (3443), Steel Pipe & Tubes (3317), General Industrial Machinery & Equipment (3560), Special Industry Machinery, Nec (3559), Railroad Equipment (3743)

akta.pro primary industry

Steel Plate, Sections & Welded Assemblies (IMADACAD)

akta.pro secondary industry

Industrial/Process Piping & Mechanical Contracting (IMAFALAG)

Keywords

• Precision engineering
• Pre-engineered buildings
• Industrial boilers
• Hydraulic cylinders
• Engineering services

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices22 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Pre-Engineered Buildings (PEB): Design, fabrication, and supply of pre-engineered steel buildings for industrial, commercial, and institutional requirements. Pennar operates in the market through two products - Prime Build (premium features) and Value Build (economy buildings). Manufactured at three facilities in Sadashivpet, Velchal, and Raebareli with combined capacity of 156,000 MT per annum.
2. Precision Tubes: Manufacture and supply of ERW, CDW, Air Pre-Heater, Boiler, Corten Steel, Galvanized, and Stainless Steel Tubes for automobile, boiler, air heater, engineering, bicycle, structural, furniture, transformer, and sectional applications. Tube production capacity of 60,000 MT/annum.
3. Process Heating (Industrial Boilers): Design and manufacture of industrial boilers including Turbosteam Boiler, Ultrasteam Boiler, Eco Steam Boiler, and Bi-drum Boiler. Pennar acquired the Veesons brand and boiler technology. Products serve rice mill, chemical, power, cement, steel, and other industries.
4. Engineered Components Business (Hydraulics, Automotive, PSA, White Goods): Manufacturing of hydraulic cylinders, automotive components (brake, suspension, auto electrical, structural), precision sub-assemblies, and white goods components. Includes Body-in-White division with hot stamping and cold forming capabilities for automotive OEMs. Products supplied to major automotive companies globally.
5. Engineering Services (Structural Design, BIM, CAD): Structural steel design and detailing services for Pre-Engineered Metal Buildings and Structural Steel Projects in USA, Europe, India, and Middle East. Services include structural detailing, PEMB design and detailing, connection design, PE stamping, estimation. BIM services including 3D modeling, construction simulation, clash detection, and facility management.
6. Industrial Automation: Design engineering and integrated turnkey industrial automation solutions based on PLC-SCADA-DCS technologies. Solutions span Oil & Gas, F&B, Automotive, Agriculture, FMCG, Infrastructure, Mining, Metals, and Energy sectors.
7. Railway Sub-Assemblies: Largest component manufacturer for Indian Railways, supplying critical structural and stability components for wagons and passenger coaches. Products certified by RDSO and RITES. Capacity of 900 MT per month.
8. Solar Panels (ZAP91 Solar India JV): Pennar Industries invested INR 5.80 crore in ZAP91 Solar India joint venture for solar module manufacturing plant, covering manufacture and sale of solar modules.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

Pennar Industries is a diversified precision engineering conglomerate that manufactures pre-engineered buildings (PEB), precision tubes (ERW, CDW, stainless steel), industrial boilers (Turbosteam, Ultrasteam, Eco Steam, Bi-drum), hydraulic cylinders, automotive body-in-white components, railway sub-assemblies, and aerospace components, alongside providing BIM and industrial automation services through its Tech Pennar division. The company operates 10+ ISO-certified manufacturing facilities across India, USA, Germany, and France, serving automotive OEMs, railways, infrastructure developers, power companies, and general engineering customers globally.

Product overview

Pennar Industries is a diversified precision engineering conglomerate with multiple product verticals operating as a unified platform. The core offerings include Pre-Engineered Buildings (PEB) with structural steel frameworks, Precision Tubes (ERW, CDW, Stainless Steel), Process Heating equipment (Turbosteam, Ultrasteam, Eco Steam, Bi-drum Boilers), Hydraulics (standard and customized cylinders), and Engineered Components Business (automotive components, railway sub-assemblies, industrial components). Supporting divisions include Tech Pennar (BIM services, plant engineering, industrial automation) and Body in White (automotive stamping and assembly). The company operates 14 manufacturing facilities across India and internationally, serving automotive, rail, aerospace, infrastructure, power, and general engineering sectors.

Differentiator

Problem solved

Functional benefit

Brands

• PEBS Pennar: Pre-Engineered Buildings division of Pennar Industries
• Ascent Buildings
• Tech Pennar
• Prime Build
• Value Build
• Double Lok

Products and services

• Pre-Engineered Buildings (PEB) Design, fabrication, and supply of pre-engineered steel buildings including structural framework (rigid frame, beams, purlins, trusses, columns), cladding, and roofing components. Offered under Prime Build (premium) and Value Build (economy) brands. Combined capacity of 156,000 MT/annum across facilities in Sadashivpet, Velchal, and Raebareli. Serves industrial, commercial, and institutional customers.
• Precision Tubes Manufacture of precision steel tubes including ERW (Electric Resistance Welded), CDW (Cold Drawn Welded), Air Pre-Heater, Boiler, Corten Steel, Galvanized, and Stainless Steel tubes with combined production capacity of 60,000 MT/annum. Serves automobile, boiler, air heater, engineering, bicycle, structural, furniture, transformer, and sectional applications.
• Hydraulic Cylinders Standard and customized hydraulic cylinders including welded, piggy back, telescopic, jack, dump hoist, integrated valve, and tie-rod cylinders. Production capacity of 225,000 cylinders annually at the Chennai plant. Serves agriculture, construction, industrial, truck, windmill, mining, and marine applications. Acquired from Wayne-Burt Petro Chemicals (formerly Bailey Hydropower).
• Railway Sub-Assemblies Largest component manufacturer for Indian Railways, supplying critical structural and stability components including under-body frames, sidebars, door frames, formed sections, roof assemblies, and cold roll formed profiles for wagons and passenger coaches. RDSO and RITES certified. Capacity of 900 MT per month.
• Body in White (BIW) Components Automotive body components and sub-assemblies including hot stamping, cold forming, direct stamping, and robotic welding for passenger vehicles, commercial vehicles, and off-highway vehicles. Largest global supplier of hot stamping parts with 30-50% weight reduction capability. Customers include Stellantis and TIVOLT.
• Structural Engineering Services Structural steel design and detailing services for Pre-Engineered Metal Buildings and Structural Steel Projects including structural detailing, PEMB design, connection design, PE stamping, and estimation. Services delivered globally from India to USA, Europe, Middle East, APAC, and ANZ regions.
• BIM (Building Information Modeling) Services Construction BIM services including 3D modeling, shop drawings, architectural/structural/MEP services, clash detection, construction simulation (4D), quantity take-off (5D), and rebar modeling. Offered under the Tech Pennar division.
• Industrial Automation Solutions Turnkey industrial automation solutions using PLC-SCADA-DCS technologies and customized software interfaces. Serves Oil & Gas, F&B, Automotive, Agriculture, FMCG, Infrastructure, Mining, Metals, and Energy sectors.
• Turbosteam Boiler Three-pass integral furnace shell-type boiler specifically designed for the Rice Mill Industry with multi-fuel capability. Capacity range 1.0 to 6.0 TPH, pressure 10.54/17.50 Kg/Cm2(g). Over 2,000 units installed successfully across India.
• Ultrasteam Boiler High-efficiency packaged solid fuel-fired boiler with three-pass integral furnace and fully wet back design. Capacity 1.0 to 6.0 TPH.
• Eco Steam Boiler Multi-fuel fired boiler with Atmospheric Fluidized Bed Combustion (AFBC) technology. Capacity 6 to 16 TPH for burning high ash, low grade fuels like rice husk and coal.
• Bi-drum Boiler Water tube boiler for large capacity process steam and co-generation systems with capacity up to 50 Tons/Hr and pressure up to 67 Kg/cm2(g).
• Industrial Components Business (ICD) Safety-critical and high-performance engineered components including automotive components, hydraulic cylinders, precision fabricated assemblies, and white goods components. Customers include Whirlpool, LG Electronics, and Godrej.
• Aerospace Products Aerospace components and products for aviation industry applications. Customers include Boeing, Stellantis (Aerospace), and HAL Board.
• Solar PV Mounting Structures Solar PV mounting solutions for solar panel installations.

Quantifiable outcome

• FY26 revenue grew 12.20% to Rs 3,620.09 crore (consolidated); total income Rs 36,663.2 million, up 12.35% YoY
• +7 more outcomes

Named customers50 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Five partnerships are on record, tiered growth and core.

• ZAP91 Solar IndiagrowthStrategic or Co-development Partner · 1 April 2026Pennar Industries approved an investment of Rs 5.80 crore in ZAP91 Solar India, a joint venture company. The capital will fund the completion of a solar module manufacturing plant, including commissioning and commencement of commercial production. The joint venture is focused on the manufacture and sale of solar modules.
• Wayne-Burt Petro Chemicals Pvt. Ltd. (formerly Bailey Hydropower Pvt. Ltd.)coreStrategic or Co-development Partner · 1 February 2026Pennar Industries acquired the assets of Wayne-Burt Petro Chemicals Pvt. Ltd. (formerly Bailey Hydropower Pvt. Ltd.), a hydraulics cylinder manufacturing company in Chennai with production capacity of 225,000 cylinders annually. The acquisition provides Pennar access to Bailey's globally trained technical team, design and engineering capabilities, and existing supply chain presence in North America and India.
• NCI Group, Inc. (USA)coreTechnology or IntegrationPennar Industries has a non-exclusive technical know-how license arrangement with NCI Group, Inc., an established player in the United States' metals buildings market, for supply of standing seam roofing panel system in India under the brand name 'Double Lok®'. Pennar is one of the few companies offering leak-proof roofing systems in India.
• Veesons Energy Systems (acquisition of brand and technology)coreTechnology or IntegrationPennar acquired the Veesons brand as well as the design and technology of Veesons boilers from the promoters of Veesons. Veesons has supplied more than 5,100+ boilers over the last three decades running successfully in India and overseas. This acquisition strengthens Pennar's industrial boiler and process heating business.
• Ascent Buildings, LLC (USA)growthChannel Partner/ Reseller/ DistributorAscent Buildings, LLC is a customer-focused company in the pre-engineered steel building industry, founded on principles of quality and service. It is the US PEB brand of Pennar Industries, operating as a separate brand entity focused on the US market.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Thermax: Large diversified Indian industrial boiler and process heating incumbent serving power, chemical, and process industries. Competes with Pennar in industrial boilers but offers a much wider portfolio (including absorption chillers, ESPs, water treatment).
• Parker Hannifin India: Global hydraulics leader with significant India operations serving mobile, industrial, and aerospace segments. Comparable to Pennar Hydraulics in product categories (cylinders, valves, power transmission) but with broader technology and global scale.

Direct peers

• APL Apollo Tubes: India's largest structural steel tubes manufacturer with comparable application mix (automotive, infrastructure, engineering) and capacity scale. Most direct peer for Pennar's Precision Tubes division (60,000 MT/annum).
• Cheema Boilers: Indian manufacturer of industrial boilers including AFBC, WHRB, and packaged boilers, with rice mill and process industry exposure that mirrors Pennar's Veesons heritage. Direct peer in industrial process heating.
• Tata BlueScope Steel: Joint venture between Tata Steel and BlueScope that competes in India's pre-engineered steel building market. Comparable product portfolio (PEBs, roofing, structural steel) and customer access via the Tata ecosystem.
• Interarch Building Products: Interarch is one of India's largest PEB manufacturers with comparable scale, design-build capabilities, and customers in industrial/warehousing. Most direct peer for Pennar's flagship PEB vertical (156,000 MT/annum capacity) and Ascent Buildings in the US.
• Texmaco Rail & Engineering: Indian Railways wagon and coach component manufacturer competing head-to-head with Pennar Railway Sub-Assemblies. Both supply RDSO-certified components to freight and passenger rolling stock programs.
• Forbes Marshall: Established Indian manufacturer of industrial boilers and process heating equipment serving sugar, chemical, power, and textile industries - directly comparable to Pennar's Veesons-acquired Turbosteam, Ultrasteam, Eco Steam, and Bi-drum boiler lines.
• Kirby Building Systems India: Kirby is the other leading PEB player in India (now part of Nucor). Directly competes with Pennar on PEB design, fabrication, and project execution for industrial, commercial, and infrastructure customers.
• Titagarh Rail Systems: Indian railway coach and wagon manufacturer with hat-section and formed-section components comparable to Pennar's wagon sub-assemblies. Direct peer in passenger coaches, metro, and EMU/DEMU programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/pennar-industries-limited
• Facebookfacebook.com/189643861053446

Compliance14 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pennar Industries