Praj Industries Ltd
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BSE Code:
522205
NSE Code:
PRAJIND
Business Profile
Business Profile
Praj Industries was established in 1984 for providing solutions to the distillery industry. Currently, the company is engaged in engineering and manufacture of alcohol plants, fuel ethanol plants, brewery plants, wastewater systems and fermentation systems. It has technical collaborations with Dab Brav Consult Gmbh, Germany and Vogellbusch Gmbh, Austria. The company is currently operating in Asia, Africa and South America. Its R&D centre, Matrix, has developed several patented technologies for the company.
The alcohol plants of the company deliver industrial, potable and fuel grade ethanol. They produce alcohol from various raw materials like sugar, starch and multiple feedstocks. The company manufactures flexible plants wherein the same equipment can deliver different grades of spirits for different applications. The company has a market share of 60% in ethanol plant and equipment manufacture.
The company also provides turnkey solutions, technical support and engineering services to the brewery industry for activities from malt reception to packaging. It manufactures mash vessels, wort boilers, fermentation systems, filtration systems, yeast drying systems, heat recovery systems and cleaning in place (CIP) systems for breweries. The company is also engaged in the engineering and manufacture of wastewater treatment plants and fuel-ethanol plants.
Financials
The company disclosed a steady growth in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 19.96% to Rs 473.10 million from Rs 394.38 million in the same quarter previous year. Net sales for the quarter rose 15.87% to Rs 2,088.20 million, while total income for the quarter rose 15.62% to Rs 2,186.80 million, when compared with the prior year period. It posted earnings of Rs 2.58 a share during the quarter, registering 19.44% growth over prior year period.
Future Plans
The company will focus on renewable fuels, specifically fuel-ethanol, in the years to come. It has tied up with the Research Institute of India to conduct joint research in producing ethanol from biomass. The company is also in the process of upgrading its manufacturing systems by deploying ERP solutions.
The company also has a vision of expanding in the biofuels technology arena. For biodiesel projects, the company will offer in-house developed turnkey solutions including technology, engineering, plant & equipment and project management services.