Pune, October 20, 2016: Praj Industries (Praj), the global process engineering and solutions provider for bioethanol, alcohol & brewery, water & wastewater and process equipment, announced its unaudited financial results for Q2 & H1 FY 2016-17.
Performance Review for Q2 FY17 - Consolidated:Please note that the numbers are reported in compliance with IND AS. For the sake of comparison, previous quarters are also adjusted for IND AS.
Income from operations stood at Rs 205.79 crore (Q2 FY16: Rs 209.55 crore, Q1 FY17: Rs 204.93 crore)
PBT is at Rs. 6.28 crore for the period (Q2 FY16: Rs 5.43 crore, Q1 FY17: Rs 4.90 crore)
PAT (after minority interest) is at Rs 3.04 crore (Q2 FY16: Rs 5.01 crore, Q1 FY17: Rs 4.11 crore)
Performance Review for H1 FY17 - Consolidated:Income from operations stood at Rs 410.72 crore (H1 FY16: Rs 415.48 crore)
PBT is at Rs 11.18 crore for the period (H1 FY16: Rs 18.67 crore)
PAT (after minority interest) is at Rs 7.15 crore (H1 FY16: Rs 13.65 crore)
"We are pleased to report a stable performance during the first half of the fiscal, especially considering the sluggishness in industrial capex across the macro-economic landscape. We are particularly pleased with acceleration in the biofuel space in India, which we believe, will help consolidate the ethanol blending program. The market prospects look significant for all our key business lines and Praj is well- placed to capitalize on potential opportunities, given its distinct business model and technology leadership position", said Mr. Gajanan Nabar, CEO & MD, Praj Industries.
Key DevelopmentsThe consolidated order backlog as on September 30, 2016 stood at Rs 1025 crore, which comprised 72% orders from domestic market.
With supply of 900 mn liter ethanol so far, India reaches 3.2% blending ratio. With various initiatives driven by Ministry of Petroleum & Natural Gas (MOPNG), a positive eco-system is in place for higher blends.
Praj Industries set to be the key Indian technology provider for 2nd generation (2G) ethanol projects. Indian Oil Corporation Limited (IOCL) has selected Praj as its technology partner for setting up three 2G bio-ethanol plants.
Praj Industries Limited:Praj is a global process solutions company driven by innovation and integration capabilities, offers solutions to add significant value to bio-ethanol facilities, brewery plants, water & wastewater treatment systems, critical process equipment & systems, HiPurity solutions and bio-products. Over the past 3 decades, Praj has focused on environment, energy and agri process led applications. Praj has been a trusted partner for process engineering, plant & critical equipment and systems with over 600 references across five continents. Solutions offered by Praj are backed by its state of the art R&D Centre called Matrix. Led by an accomplished and caring leadership, Praj is a socially responsible corporate citizen. Praj is listed on the Bombay and National Stock Exchanges of India.
For more information, visit www.praj.net.
BSE: 522205; NSE: PRAJIND; Bloomberg: PRJ@IN; Reuters: PRAJBO; CIN: CIN: L27101PN1985PL0038031
For further information, please contact:Surendra Khairnar / Priyanka Watane
Praj Industries Ltd.
Phone : 020 2294 1000
Email: surendrakhairnar@praj.net / priyankawatane@praj.net
Mayank Vaswani / Shikha Kshirsagar
CDR, India
Phone : 022 6645 1230 / 43
Email: mayank@cdr-india.com / shikha@cdr-india.com
Note: Some of the statements made in the release could be forward-looking in nature. Such forward-looking statements remain subject to risks and contingencies particularly concerning but not limited to governmental policies, economic developments and technological factors. This may cause actual performance to differ materially from that observed through the relevant forward-looking statement. Praj Industries will not in any way be responsible for action taken based on such forward-looking statements and undertakes no commitment to update these forward-looking statements publicly, to reflect changed realities