Praj Inds top gainer

Praj Industries is a top gainer on the BSE; from its close of Rs.675.90, the stock opened slightly higher at Rs.676 and soon rose to an intraday high at Rs.740.90. Its 52-week high is at Rs.826.70.

The stock price surged after the company published today its optimistic outlook for the future. The company said that it is eying opportunities in multiple sectors including sustainable aviation fuel (SAF), biopolymers and the energy transition & climate actions (ETCA) and is expecting to triple its revenues by 2030.

The management said, “The current revenues of Praj are close to Rs.3400 crore annually, and we have a goal to reach Rs.10,000 crore by the year 2030. Currently, share of exports is around 29%; going forward, we are looking at increasing it to 50% by 2030.”

Blue and green hydrogen, green ammonia and west to energy solutions is expected to drive the growth. Expecting an exponential increase in demand for modular solutions for setting up plants in this sector, Praj has set up a dedicated advanced manufacturing facility at Mangalore in Karnataka with an investment of about Rs.400 crore. Spread across 123 acres of land, Praj said that this plant can deliver revenues in the range of Rs. 2000-2500 crore annually at the optimum level.