Pennar Industries Limited, commenced manufacture of Cold Rolled Steel Strips in 1988 at Isnapur (45 km from Hyderabad) with an installed capacity of 30,000 MTPA. The company achieved profits right from the first year of its operation followed by declaration of dividend from the second year. The company increased its manufacturing capacity to 50,000 MTPA in the year 1997.
Propelled by liberalization and globalization of the Indian Economy, Pennar acquired Nagarjuna Steel Ltd., Patancheru (32 KM from Hyderabad) and Press Metal, a unit of Tube Investment(TI), at Tarapur near Mumbai.
Pennar's fourth Manufacturing facility is located at Chennai and manufactures Profiles and Components for the auto sector. The facility also services a steel service center.
Pennar is now a multi-location, multi-product company manufacturing Cold Rolled Steel Strips & Tubes, Cold Rolled Formed Sections, Electro Static Precipitators, Pre-Engineered Building Systems, Sheet Metal Components, and Road Safety Systems.