Praj announces Q4 FY21 results, Revenues at Rs. 567.1 crore; PAT at Rs. 52 Crore

Pune, May 06, 2021: 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 the quarter and full year ended March 31, 2021

Performance Review for Q4 FY21 – Consolidated:

Income from operations stood at Rs. 567.1 crore (Q4 FY20: Rs. 296.29 crore; Q3 FY21: Rs. 347.78 crore)

1. PBT is at Rs. 73.19 crore  (Q4 FY20: Rs. 31.67 crore; Q3 FY21: Rs. 38.78 crore)
2. PAT is at Rs. 52.0 crore (Q4 FY20: Rs. 24.86 crore; Q3 FY21: Rs. 28.16 crore)
3. Order intake during the quarter Rs. 650 crore

Performance Review for FY21 – Consolidated:

1. Income from operations stood at Rs. 1,304.67 crore (FY20: Rs. 1,102.37 crore)
2. PBT is at Rs. 113.11 crore (FY20: Rs. 83.13 crore)
3. PAT is at Rs. 81.07 crore (FY20: Rs. 70.43 crore)
4. The consolidated order backlog as on March 31, 2021 stood at Rs. 1,748 crore (FY20 order backlog at Rs. 1,083 crore), which comprised 85% domestic orders and 15% international orders

Dividend: The Board of Directors has recommended a dividend of Rs. 2.16 per share (108 % on the Face Value of Rs. 2 per share) for the financial year ending 31st March 2021 subject to approval of shareholders in the forthcoming annual general meeting.

Commenting on the Company’s performance, Mr. Shishir Joshipura, CEO & MD, Praj Industries said, “We are delighted to report a robust performance in the fourth quarter to close FY20-21 on a strong note. Activity levels have remained positively elevated with continued traction in enquiries across several business verticals including some significant order wins. Our continued focus on customer value enhancement and innovation has enabled us to build a solid platform to further consolidate this strong performance as we move forward”

Key Developments:

• Praj Industries bagged a prestigious breakthrough order from Hindustan Petroleum Corporation Limited (HPCL) during the quarter for setting up CBG project at Badaun in Uttar Pradesh
  • Praj is offering its state-of-the-art RenGas™ technology developed using proprietary microbe to produce CBG from rice straw
  • The project has capacity to process 35,000 MT of rice straw as feedstock to generate 5,250 MT of CBG annually. In addition, the project will also generate 23,000 MT high quality solid biomanure and 35,000 MT of liquid bio-manure for ferti-irrigation
  • This project will be completed and commissioned within 12 months timeframe
• The Company bagged an order from Godavari Biorefineries to set up India’s largest capacity syrup based ethanol plant in Karnataka
  • As a part of this project, Praj will expand the existing ethanol manufacturing capacity to 600 KLPD, using sugarcane syrup. When commissioned, this will become India’s largest capacity syrup based ethanol plant
  • The expansion will maintain zero liquid discharge norms by deploying innovative technology i.e. SHIFT, developed in our state-of-the-art R&D facility – Praj Matrix. The ‘SHIFT’ technology minimizes energy and water footprint, while maximizing value for customers
• On the domestic Bioenergy front, ethanol blending with petrol at an all-India level has reached more than 7.4% in the first five months of the ethanol supply year 2020-21. This, is the highest-ever recorded ethanol blending level at an all-India basis
• The Government, in order to extend renewables usage across the nation, recently allowed the direct sale of ethanol as a fuel for compatible automobiles. Like petrol and diesel, the Center has allowed the sale of E-100 directly to compatible vehicles