Praj Industries Q2 PAT jumps to Rs33.34cr; Stock climbs over 1%

Ethanol production capacity of plants using Praj's technology solutions across the globe has crossed formidable 11 billion liters annually.

Oct 28, 2021 11:10 IST India Infoline News Service

Praj Industries stocks in focus as it has announced its unaudited financial results for the quarter ended September 30, 2021.

Performance Review for Q2 FY22 - Consolidated:
  • Income from operations stood at Rs532.41cr (Q1 FY22: Rs386.26cr; Q2 FY21: Rs260.24cr)
  • PBT is at Rs46.77cr for the period (Q1 FY22: Rs29.80cr; Q2 FY21: Rs15.67cr)
  • PAT is at Rs33.34cr (Q1 FY22: Rs22.20cr; Q2 FY21: Rs11.39)
  • Order intake during the quarter Rs745cr (Q1 FY22: Rs661cr; Q2 FY21: Rs405cr)
Performance Review for Hl FY22 - Consolidated:
  • Income from operations stood at Rs918.67cr (H1 FY21: Rs389.79cr)
  • PBT is at Rs76.57cr for the period (H1 FY21: Rs1.15cr)
  • PAT is at Rs55.54cr (H1 FY21: Rs0.89cr)
  • Order intake Rs1406cr (H1 FY21: Rs715cr)
Commenting on the Company's performance for Q2 FY2022, Shishir Joshipura, CEO & MD, Praj Industries said, "We have leveraged our leadership position to build a very strong order book and report a robust performance during the quarter. Focus on developing carbon free economy coupled with a gradual return to normalcy in post covid era is leading to an improving traction in our international business.

Overall, we are looking forward to accelerated growth building on our technological prowess and leadership position in the market."

Key Developments:
  • Current ethanol blending levels at ~8.5% as on September 2021
  • With a view to encourage sugar mills to divert excess sugar to ethanol, the Center announced that the incentives on sugar sacrificed for producing ethanol from B-heavy molasses, sugarcane juice, sugar syrup, sugar have been doubled from October 2021 onwards
  • Strong momentum on capacity creation for ethanol based on starchy feedstock
  • Ethanol production capacity of plants using Praj's technology solutions across the globe has crossed formidable 11 billion liters annually. This translates to around 10% of global ethanol production (excluding China).
At around 11:19 AM, Praj Industries was trading at Rs341 apiece up by Rs3.9 or 1.16% on Sensex.

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