by Suman Gupta
TOPICS:#Praj Industries
PUNE, OCTOBER, 2019 (GPN): Praj Industries (Praj), a globally leading engineering company with a bouquet of sustainable solutions for Bioenergy, Compressed biogas, Critical process equipment & skids, Breweries, Industrial wastewater treatment and High purity water announced its unaudited financial results for Q2 & H1 FY20.
Performance Review for Q2 FY20 – Consolidated:
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Income from operations stood at Rs. 294.14 crore (Q2 FY19: Rs.251.03 crore)
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PBT is at Rs. 17.19 crore for the period (Q2 FY19: Rs. 12.86 crore)
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PAT is at Rs. 16.13 crore (Q2 FY19: Rs. 8.94 crore)
Performance Review for H1 FY20 – Consolidated:
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Income from operations stood at Rs. 505.74 crore (H1 FY19: Rs.442.63 crore)
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PBT is at Rs. 27.13 crore for the period (H1 FY19: Rs. 17.34 crore)
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PAT is at Rs. 24.90 crore (Q2 FY19: Rs. 12.43 crore)
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The consolidated order backlog as on September 30, 2019 stood at Rs. 1,130 crore (H1 FY 19 order backlog Rs. 900 crore), which comprised 78% domestic orders and 22% international orders
“All the business segments of the Company contributed to the growth over the corresponding period even as the domestic business environment continued to face challenges on the operating side.” said Mr. Shishir Joshipura, CEO & MD, Praj Industries. “With the intention to address growing environment concerns and also to empower farming community the Government has been putting in place building blocks to enable increased production of Biofuels in the country. We are confident of continuing to build on our leadership position across business verticals supported by our technology-led solutions and differentiated integrated capabilities.” Mr. Joshipura added.
Key Developments:
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The sugar year ending October 31, 2019 is projected to record the highest ever levels of ethanol blending to the tune of 6.7%. This includes a meaningful maiden contribution of ethanol made from B-heavy molasses route.
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For the sugar year November 1, 2019 to October 31, 2020, the OMCs have floated a tender to procure 511 crore litres of ethanol. This is 55% higher than the requirement of 329 crore litres in the preceding year. This will elevate the ethanol blending levels closer to the 10% mark.
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In a significant boost to the Bioenergy sector, the Cabinet Committee on Economic Affairs (CCEA) approved higher price for the product derived from different raw materials under the Ethanol Blended Petrol (EBP) programme.
o The price of ethanol derived from the C-heavy molasses route has been increased to INR43.75 a litre from INR43.46
o Ethanol from the B-heavy molasses route has been hiked to INR54.27 a litre from INR52.43
o Ethanol from sugarcane juice/sugar/sugar syrup route has been fixed at INR59.48 a litre from INR59.19
o The revised prices will be applicable during the ethanol supply year from December 1, 2019 to November 30, 2020
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Praj Industries entered into a Cooperation Agreement with Dedini S/A Indústrias de Base, Brazil to provide ethanol production technologies to the Brazilian market.
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‘Enfinity’, Praj’s proprietary and award-winning technology, will be deployed to produce ethanol and other co-products using sugarcane bagasse in USA’s first bagasse-based bio-refinery.
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Praj has received the critical equipment supply contract from BPCL for Bargarh 2G refinery.
Praj Industries Limited:Praj is a global process solutions company driven by innovation and integration capabilities, offers solutions to add significant value to bio-energy facilities, Compressed biogas plants, critical process equipment & skids, brewery plants, Industrial wastewater treatment systems and HiPurity water systems. Over the past 3 decades, Praj has focused on environment, energy and agri process led applications. Praj has been a trusted partner for process engineering, plant & critical equipment and systems with over 750 references across 75 countries. Solutions offered by Praj are backed by its state of the art R&D Centre called Matrix. Led by an accomplished and caring leadership, Praj is a socially responsible corporate citizen. Praj is listed on the Bombay and National Stock Exchanges of India.