Praj Inds up in green

Praj Industries yesterday announced its Q4FY24 earnings and they were quite encouraging. Its consolidated operating revenue for Q4FY24 was at Rs.1019 crore, up 1.5% (YoY) while net profit came in at Rs.92 crore, up 4%. EBITDA for the quarter was at Rs.131 crore, up 21% and margins improved 204 bps at 12.83%.

Its order intake during the quarter was at Rs.924 crore v/s 1038 crore while order backlog at the end of the quarter stood at Rs.3855 crore v/s Rs.3414 crore.

The company ended the fiscal with a 2% fall in consolidated operating revenue at Rs.3466 crore and net profit came in at Rs.283 crore, up 18%. There was a 62% rise in international orders.

During the quarter, it commissioned commercial scale CBG plants which are based on press mud and rice straw as well as achieving benchmark results for yield. With this Praj now has proven commercial scale CBG projects operating on three key feedstocks namely- spent wash, press mud, and rice straw.

Praj has been chosen to build state-of-the-art modules for one of the largest Blue Hydrogen projects in Europe

The market is happy with this development as the stock opened 1.5% higher at Rs.510.05 and rose to an intraday high at Rs.536.80, up 7%.