Praj Inds

A  super jump in sales and a tax write back, helped the company end Q2FY15 with an over 6 times (YoY) and over a whopping 12 times jump in consolidated net profit at Rs.25 crore. The same was in single digit in Q1 at Rs.2 crore and Rs.4 crore in previous Q2. Net sales rose 36% (YoY) at Rs.265 crore.  Apart from operational efficiency, the company had a tax write back of Rs.11 crore, which was from the IT department as Settlement Commission wherein excess over demand raised was credited.

Praj Industries is engaged in the global process engineering and solutions provider for bioethanol, alcohol & brewery, water & wastewater and process equipment. Praj has successfully commissioned the brewery in Namibia, Africa for a global brewing major. The other international brewery project in Myanmar is also nearing completion. Its water & waste water solutions group successfully commissioned a ZLD system for largest terry towel manufacturing facility in the world. This is Praj’s seventh installation in the textile industry. In June’14, Rakesh Jhunjhunwala and his wife had offloaded 8% stake in the company and currently holds less than 0.5%.