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HomePosts Tagged "Praj industries"
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