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HomePosts Tagged "Praj industries"
Agribusiness, Biofuel industry, Company News, India, People

Gaikwad will succeed Shishir Joshipura, CEO & MD, who will complete his tenure on June 30, 2025.

Pune based Praj Industries, a global leader in bioeconomy solutions, is pleased to announce the appointment of Ashish Gaikwad as Managing Director-Designate, effective February 3, 2025. This transition marks a significant milestone in the company’s growth journey.

 Gaikwad will succeed Shishir Joshipura, CEO & MD, who will complete his tenure on June 30, 2025. To ensure a seamless transition, Gaikwad will work closely with Joshipura and the leadership team over the coming months, ensuring continuity of Praj’s strategic priorities.

Gaikwad brings over 34 years of experience in industrial automation, digitalization, process technology, renewable energy transition, artificial intelligence, and autonomous manufacturing. He holds a Bachelor of Engineering (Honors) in Electrical & Electronics from BITS Pilani, India. Before joining Praj Industries, he successfully led Honeywell Automation India Ltd. as Managing Director for over seven years. Throughout his career at Honeywell, he held diverse leadership positions spanning India, Southeast Asia, Asia Pacific, and the USA, with expertise in project engineering, sales leadership, strategy, business management and corporate governance.

Commenting on the appointment, Dr Pramod Chaudhari, Founder Chairman of Praj Industries, said: “We are delighted to welcome Mr. Ashish Gaikwad to Praj Industries. His deep industry expertise and global leadership experience will be instrumental in driving our innovation-led growth strategy. Under his guidance, Praj will continue to advance its vision of a sustainable bioeconomy.”

Gaikwad will succeed Shishir Joshipura, CEO &

Agribusiness, Biofuel industry, Company News, Finance, India

Company’s Profit After Tax stood at Rs. 538.310 million in Q2FY25.

Praj Industries (Praj), announced its unaudited financial results for the quarter ended Sept 30, 2024.Company’s income from operations stood at Rs. 8,161.920 million in Q2FY25 (Q1 FY25: Rs. 6,991.414 million; Q2 FY24: Rs 8,823.685 million). Company reported Profit Before Tax (PBT) Rs 744.419 million for the period (Q1 FY25: Rs. 788.805 million; Q2 FY24: Rs 848.121 million). Company’s Profit After Tax is at Rs. 538.310 million in Q2FY25 (Q1 FY25: Rs. 841.807 million; Q2 FY24: 623.679 million). Order intake during the quarter Rs. 9,210 million (Q1 FY25: 8,880 million; Q2 FY24: Rs. 10,630 million)

In H1FY25 Company’s Income from operations stood at Rs. 15,153.334 million (H1 FY24: Rs. 16,190.912 million). Company’s PBT before exceptional items is at Rs. 1,533.224 million for the period (H1 FY24: Rs. 1,625.154 million). PBT after exceptional items Rs. 1,814.796 million. In H1FY25 company’s PAT stood at Rs. 1,380.117 million (H1 FY24: Rs. 1,210.405 million). Order intake Rs.18,090 million (H1 FY24: Rs. 21,640 million)

Commenting on the Company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “The Bioenergy segment continues to develop positively as we witness our business growing in multiple dimensions, with healthy order and enquiry inflows from international, services and engineering verticals in the first half of the year. Several positive developments in the ecosystem and market augur well for continued growth journey as we move forward. Commissioning of our Demo plant for biopolymers opens a completely new dimension in form of renewable chemicals and materials segment. Our strong focus on R&D backed solutions will continue help us stay on our envisioned growth path”.

Key Developments:

 Inauguration of India’s first-of-its-kind Demo Facility for Biopolymers, showcasing indigenously developed integrated Polylactic Acid (PLA) technology at the hands of Union Minister, Dr Jitendra Singh, Ministry of Science & Technology, in the presence of Dr Rajesh Gokhale, Secretary, Dept. of Biotechnology (DBT) and Dr. Ashish Lele (NCL).

Company’s Profit After Tax stood at Rs.

Biofuel industry, India, Interaction, Sustainable Energy

Nitin Gadkari, the Union Minister, Road Transport and Highways was speaking at the inaugural of International Conference and Exhibition on Bioenergy & Technologies 2024 in Dwarka, Delhi.

“Promoting the biofuel sector in India would benefit the country’s agriculture sector. Bioenergy sector is set to reach 50 per cent of fossil fuel in the next five years”, said Nitin Gadkari, the Union Minister, Road Transport and Highways during the inaugural session of the India Bio-Energy & Tech Expo 2024.

Gadkari announced that 400 Ethanol pumps are starting in India, Maharashtra, Karnataka, Uttar Pradesh and Tamil Nadu. Every year import of fossil fuel is 22 lakh tonnes.

He mentioned that it is not the problem with air pollution, but it is also a deep economic concern for the country. Today agriculture and allied industry share in GDP is 12 per cent, manufacturing 20-25 per cent, service sector 20-25 per cent. The promotion of the bioenergy sector will help to achieve a 5 trillion economy dream.

The 3-day event started from September 2, 2024, is organised by the Indian Federation of Green Energy (IFGE) and MMActiv Sci-Tech Communications, is an International Conference and Exhibition on Bioenergy & Technologies at Yashobhoomi – India International Convention & Expo Centre in Dwarka, Delhi. It represents a significant step in advancing the bioenergy sector and is supported by the Ministry of Road Transport and Highways, Government of India. Hardeep Singh Puri, Minister for Petroleum and Natural Gas and Dr Pramod Chaudhri President, IFGE & Executive Chairperson, Praj Industries, Ravindra Boratkar Founder Member of IFGE and Managing director of MM Activ Sci -Tech Communication, were present at the inaugural session.

AgroSpectrum September 24 issue devoted to the bioenergy sector in India was published by Union Minister Nitin Gadkari, Hardeep Singh Puri, Minister for Petroleum and Natural Gas and dignitaries during the inaugural session.

 Hardeep Singh Puri, Minister for Petroleum and Natural Gas, stated that the government is making efforts to increase the use of biofuels in India. The target year for achieving 20 per cent ethanol-blending has been advanced by five years to 2025, and there are plans for 5 per cent blending of biodiesel in diesel by 2030. Additionally, oil companies have been directed to sell 20 per cent ethanol-blended petrol, and BIS specifications for higher ethanol blends (E12 and E15) indicate the government’s emphasis on biofuels and alternative energy sources.

IIT Delhi and IFGE signed an MoU for the Centre of Excellence at IIT Delhi for Bioenergy. The Biodiesel Association of India also facilitated awards to Indian Oil Corporation, Emami Agrotech, Blue Stone Energy, and Kem Energy.

The event will feature diverse exhibitors from the bioenergy, biofuel, biomass, CBG (Compressed Biogas) production, ethanol end users, technology providers, equipment, and machinery EPC industries.

Nitin Gadkari, the Union Minister, Road Transport

Agribusiness, Agrotech, Biofuel industry, Company News, Finance, India

Company reports Rs 8,286.226 million incomes from operations in Q3 FY24.

Praj Industries (Praj) announced its unaudited financial results for the quarter and nine months ended Dec 31, 2023. Income from operations stood at Rs. 8,286.226 million (Q2 FY24: Rs. 8,823.685 million; Q3 FY23: Rs ,114.647 million). Company’s Profit Before Tax stood at Rs 919.217 million for the period (Q2 FY24: Rs. 848.121 million; Q3 FY23: Rs. 858.997 million).  Profit After Tax is at Rs. 704.143 million (Q2 FY24: Rs. 623.679 million; Q3 FY23: 623.113 million). Order intake during the quarter Rs 10,370 million (Q2 FY24: 10,630 million; Q3 FY23: Rs. 9,440 million) 

Performance Review for 9M FY24 ‐ Consolidated:

  • Income from operations stood at Rs. 24,477.138 million (9M FY23: Rs. 25,240.533 million) 
  • PBT is at Rs. 2,544.371 million for the period (9M FY23: Rs. 2,059.116 million)
  • PAT is at Rs. 1,914.548 million (9M FY23: Rs. 1,517.031 million)
  • Order intake Rs. 32,010 million (9M FY23: Rs. 30,190 million)

The consolidated order backlog as on December 31, 2023 stood at Rs 39,500 million which comprises of 75 per cent domestic orders and 25 per cent international orders.

Commenting on the Company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “The quarter saw positive business development in new growth areas identified.  The policy restriction on the use of sugar syrup as feedstock created a near‐term challenge in the market. Praj has already developed solutions for mitigating the feedstock challenge for our customers and we are confident that these solutions will help restore the opportunity next year.  Our Mangalore facility is developing along the planned lines and the business pipeline to feed this facility is also growing stronger.”

Company reports Rs 8,286.226 million incomes from

Biofuel industry, Company News, Finance, India

Company records Rs. 623.679 million PAT in Q2FY 24 compared to Rs. 657.778 million PAT in Q2 FY23.

Pune based Praj Industries (Praj), announced its unaudited financial results for the quarter ended Sept 30, 2023. Praj, India’s most accomplished industrial biotechnology company is driven by innovation, integration and delivery capabilities. Over the past four decades, Praj has focused on the environment, energy, and agri-process industry, with 1000++ customer references spanning 100+ countries across all 5 continents.

Performance Review for Q2 FY24 – Consolidated:

• Income from operations stood at Rs. 8,823.685 million (Q1 FY24: Rs. 7,367.227 million; Q2 FY23: Rs. 8,806.172 million)

• PBT is at Rs. 848.121 million for the period (Q1 FY24: Rs. 777.033 million; Q2 FY23: Rs. 657.778 million)

• PAT is at Rs. 623.679 million (Q1 FY24: Rs. 586.726 million; Q2 FY23: 481.286 million)

• Order intake during the quarter Rs. 10,630 million (Q1 FY24: 11,010 million; Q2 FY23: Rs. 9,810 million)

Performance Review for H1 FY24 – Consolidated:

• Income from operations stood at Rs. 16,190.912 million (H1 FY23: Rs. 16,125.886 million)

• PBT is at Rs. 1,625.154 million for the period (H1 FY23: Rs. 1200.119 million)

• PAT is at Rs. 1,210.405 million (H1 FY23: Rs. 893.918 million)

• Order intake Rs.21,640 million (H1 FY23: Rs. 20,750 million)

Commenting on the Company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “The quarter witnessed development of business activity on similar lines as first quarter. Domestic markets witnessed a brief period of reduced activity as the grain policy changes unfolded before returning to normalcy. The launch of Global Biofuels Alliance is expected to provide a new platform for opportunities across domestic and international markets in medium to long term”.

Company records Rs. 623.679 million PAT in

Biofuel industry, Company News, Finance, India, Sustainable Energy

Profit Before Tax stood at Rs. 85.90 crore in Q3 FY23 compared to Rs. 50.25 crore in Q3 FY22.

Pune, based Praj Industries (Praj) announced its unaudited financial results for the quarter and nine months ended December 31, 2022

Performance Review for Q3 FY23 – Consolidated:

• Income from operations stood at Rs. 909.97 crore (Q2 FY23: Rs 876.58 crore, Q3 FY22: Rs. 585.64 crore)

• PBT is at Rs. 85.90 crore for the period (Q2 FY23: Rs 65.78 crore, Q3 FY22: Rs. 50.25 crore)

• PAT is at Rs. 62.31 crore (Q2 FY23: Rs. 48.13 crore, Q3 FY22: Rs. 37.05 crore)

• Order intake during the quarter Rs. 944 crores (Q2 FY23: Rs. 981 crore, Q3 FY22: Rs. 956 crore)

Performance Review for 9M FY23 – Consolidated:

• Income from operations stood at Rs. 2,516.42 crore (9M FY22: Rs. 1,504.31 crore)

• PBT is at Rs. 205.91 crore for the period (9M FY22: Rs. 126.83 crore)

• PAT is at Rs. 151.70 crore (9M FY22: Rs. 92.60 crore)

• The consolidated order backlog as on December 31, 2022 stood at Rs. 3380 crore which comprises of 87.5 per cent domestic orders and 12.5 per cent international orders.

Commenting on the Company’s performance for Q3 & 9M FY2023, Shishir Joshipura, CEO & MD, Praj Industries said, “We delivered consistent performance in Q3 FY23 by leveraging our strong execution capabilities with unrelenting customer focus. Energy transition and climate action is emerging as a strong development agenda globally. To address business opportunities arising out of this, we are investing in a new manufacturing facility to be housed in a new subsidiary. We remain confident of building on this momentum.”

Profit Before Tax stood at Rs. 85.90

Biofuel industry, People

William C. Holmberg Award is being presented to distinguished individuals around the world for their trailblazing contribution to the Bioeconomy

Prestigious 2022 William C. Holmberg Award for ‘Lifetime Achievement in the Bioeconomy’ was announced to Dr. Pramod Chaudhari, Founder and Chairman, Praj Industries. He is the first Asian recipient of this global honor that recognizes his exemplary work in Bioeconomy.

Since 2014, William C. Holmberg Award is being presented to distinguished individuals around the world for their trailblazing contribution to the Bioeconomy. Award is named after the first recipient Lt. Col. William Holmberg, for his pioneering contribution in Bioeconomy and as an architect of renewable fuels program at Dept. of Energy (DoE) & Environmental Protection Agency (EPA), USA.

Instituted by the US-based, Biofuels Digest, William C. Holmberg Award is a culmination of critical evaluation by a global panel of industry experts and veterans. Previous recipients of the award comprised of lawmakers, industry regulators and global corporate head- honchos, all from either US or Europe.

 Jim Lane, Founder and Editor – Biofuels Digest mentioned that “Dr Pramod Chaudhari was the unanimous choice of judges for his steadfast leadership in Global Bioeconomy supported with technological advances in the field of Advanced Bioeconomy to help fulfil the dream of Net-Zero Civilization. I congratulate him for this remarkable achievement.”

 Dr Chaudhari said that “I see this as a testament to team Praj’s continued endeavours since past four decades in developing and deploying innovative technology solutions in helping conserve the environment. I am particularly happy that the world is taking due notice of India’s capabilities in energy transition through Bioeconomy.”

On 17th March, Dr Chaudhari will be conferred with this award during the ongoing flagship Global Conference at the Advanced Bioeconomy Leadership Conference (ABLC) 2022 at Washington DC, USA.

William C. Holmberg Award is being presented

Finance, Sustainability

Consolidated income from operations stood at Rs 585.64 crore

Praj Industries (Praj) announced its unaudited financial results for the quarter and nine months ended December 31, 2021. In Q3 FY22, the consolidated income from operations stood at Rs 585.64 crore, PBT is at Rs 50.25 crore for the period and PAT is at Rs 37.05 crore.

For 9M FY22, the consolidated, income from operations stood at Rs 1,504.31 crore, PBT is at Rs 126.83 crore for the period, PAT is at Rs 92.60 crore. The consolidated order backlog as of December 31, 2021, stood at Rs 2,605 crore which comprised 80 per cent domestic orders and 20 per cent international orders.

Shishir Joshipura, CEO & MD, Praj Industries said, “Our performance during the quarter witnessed continued build-up of healthy order book with international business also showing sign of traction. We have aligned our execution processes to manage the increasing volumes across the businesses. The rise in commodity prices led to continued pressure on margins. We remain optimistic of sustainable growth.”

Consolidated income from operations stood at Rs

Finance

We expect Union Budget 2022-23 to accelerate the progression of the biofuels industry that facilitates the fulfilment of India’s COP 26 summit Panchamrit commitments besides positively impacting energy security, farming community and economy as a whole. Specifically, interventions for the un-bottlenecking achievement of the E20 ethanol blending program, SATAT target for CBG and institutionalising Flex-Fuel policy in the transportation sector, would be of great help. We also urge that budget unveils a definitive roadmap for decarbonising the aviation sector by inducting sustainable aviation fuel into the energy mix.

We expect Union Budget 2022-23 to accelerate

Biofuel industry

The raw material will be supplied by Pune-based Praj Industries

Swaraj Green Power & Fuel (Swaraj)  plans to set up the largest ethanol plant (1100 KLPD) in Maharashtra in two stages, first stage capacity of 500 kilo litres per day (KLPD) and in second stage capacity shall be enhanced to 1100 KLPD based on sugarcane juice and BIOSYRUP.  Necessary permissions have been acquired to enhance the plant capacity up to 1100 KLPD in near future. 

Swaraj and Praj have signed an agreement for expanding up to 500 KLPD capacity that is expected to be operational by the third quarter of FY 2022-23. Praj is responsible for the design, engineering, supply and commissioning of the plant, deploying its advanced sugarcane juice and BIOSYRUP to ethanol technology. Praj’s Innovative solution to process sugarcane juice into a new sustainable feedstock BIOSYRUP will help Swaraj secure round the year ethanol production.

The raw material will be supplied by