Praj Inds

Praj Industries,  for Q2FY15, posted a 36% rise in consolidated net sales at Rs.265 crore and a tax write back of Rs.11 crore, helped the company end the quarter with a net profit at Rs.25 crore, up over 6 times on YoY. The company is low debt at less than Rs.60 crore borrowings, reserves stands at Rs.572 crore and cash has gone up significantly from Rs.57 crore to Rs.127 crore.

It recently secured a Rs.235 order for Oil and gas process skids for a Petrobas project in Brazil. This opens the door for the company’s Critical Process Equipment Systems (CPES) business in Latin America. It is already established there in the ethanol business. With the EU increasing the stipulated ethanol blending from current 5% to 7%, the company expects coming months to be lucrative.