Praj Industries Ltd, a leading industrial biotechnology company, has reported a 4.3% year-on-year (YoY) increase in net profit for the fourth quarter ending March 31, 2024. The company’s net profit rose to ₹91.9 crore, compared to ₹88.1 crore in the same quarter last year, according to a regulatory filing.
The company’s revenue from operations saw a modest increase of 1.5%, reaching ₹1,018.6 crore, up from ₹1,003.9 crore in the corresponding period of the previous fiscal year. This growth reflects Praj Industries’ steady performance in a challenging market environment.
At the operating level, the company demonstrated robust growth with EBITDA rising by 20.9% to ₹130.8 crore in the fourth quarter, compared to ₹108.2 crore in the same period last year. The EBITDA margin improved to 12.8%, up from 10.8% in the previous year’s corresponding quarter, indicating enhanced operational efficiency. EBITDA, which stands for earnings before interest, tax, depreciation, and amortisation, is a key measure of a company’s operational performance.
Praj Industries also reported an order intake of ₹924 crore during the quarter, contributing to a consolidated order backlog of ₹3,528 crore as of March 31, 2024. This is a slight increase from the FY23 order backlog of ₹3,414 crore, signaling a positive outlook for future revenue streams.
In addition to the financial performance, the board of Praj Industries has proposed a final dividend of ₹6 per equity share, which is 300% of the face value of ₹2 each. This dividend, for the financial year ending March 31, 2024, is subject to shareholder approval at the Annual General Meeting scheduled for July 25, 2024.
Commenting on the results, Shishir Joshipura, CEO and MD of Praj Industries, said, “The company is on a path to transform its business with additional focus on emerging segments of Compressed Biogas (CBG), Sustainable Aviation Fuel (SAF), and Ethanol-to-Chemicals and Alcohols (ETCA) in the near to midterm future while expanding the share of international business in the overall pie.”
Praj Industries continues to leverage its expertise in industrial biotechnology to tap into new and emerging markets, aiming for sustained growth and profitability. The company’s strategic focus on diversification and international expansion positions it well to capture new opportunities and drive long-term value for its stakeholders.
Praj Industries Ltd is a global leader in the field of industrial biotechnology, offering innovative solutions for bioenergy, high-purity water, critical process equipment, and breweries. With a strong focus on sustainability, Praj Industries is committed to creating value through cutting-edge technology and strategic partnerships.
