Praj Industries Q2FY21 sales at Rs260.24cr; Order Inflows at Rs405cr

The consolidated order backlog as on September 30, 2020 stood at Rs1,408cr (H1 FY20 order backlog at Rs1,130cr), which comprised 78% domestic orders and 22% international orders

Nov 05, 2020 07:11 IST India Infoline News Service

Praj Industries
Praj Industries (Praj) reported a net profit of Rs11.39cr, declined 29.39% in the quarter ended September 2020 as against Rs16.13cr during the previous quarter ended September 2019. The sales of the company also fell by 11.53% to Rs260.24cr in the quarter ended September 2020 as against Rs294.14cr during the previous quarter ended September 2019.

The stock is currently trading at Rs74.55, up by Rs1.55 or 2.12% from its previous closing of Rs73 on the BSE.

Performance Review for H1 FY21 –
Consolidated: • Income from operations stood at Rs389.79cr (H1 FY20: Rs.505.74cr)
• PBT is at Rs1.15cr for the period (H1 FY20: Rs27.13cr)
• PAT is at Rs0.89cr (H1 FY20: Rs24.90cr)
• The consolidated order backlog as on September 30, 2020, stood at Rs1,408cr (H1 FY20 order backlog at Rs1,130cr), which comprised 78% domestic orders and 22% international orders

Commenting on the Company’s performance for Q2 & H1 FY2021, Mr. Shishir Joshipura, CEO & MD, Praj Industries said, “We are pleased to see a continued return to “normalcy” across the business landscape from the challenging circumstances created by Pandemic. Operations across all project sites, factories and R&D facilities have continued to build positively and are back to near normal levels at the quarter-end even as precautions and guidelines for combating the pandemic remain strongly in place. The business landscape is witnessing improved traction across several sectors specially Bio Energy and Pharma segments. There are structural shifts underway in these markets and we are optimistic that the pace of progress will continue to build positively as we move forward. Recently announced upward revision in ethanol prices, push for renewable gas, strong focus on effluent discharge is expected to build momentum in near future. Our comprehensive basket of solutions and the ability to customise offerings to suit a variety of objectives is resonating strongly with domestic and global customers alike. We are cautiously excited on building a healthy and sustainable growth ahead.”

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