Comments
The board of directors of Pennar Industries Ltd is evaluating the merger of its subsidiary Pennar Enviro Ltd into Pennar Industries.
The Hyderabad-based Pennar Industries currently holds 51.03 per cent of the total equity of Pennar Enviro Ltd.
The proposed merger is intended to position the environment business for further rapid growth. The Company has appointed an advisor for the merger and will be in touch with all major stakeholders regarding this proposition, the company informed BSE.
Pennar Enviro is a subsidiary of the company and provides turnkey solutions to its clients which includes deign, manufacturing, supply and erection of desalination, water treatment and sewerage treatment plants. It is also engaged in effluent treatment solutions and recycling systems.
The company achieved a trunover of Rs 100 crore in financial year 2016 and has an order book of around Rs 200 crore. Some of the customers of the company include L&T, NPCIL, JSW Group, United Spirits, Murugappa group and JBF Petrochemicals.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.