Praj Industries Q1 Results Sees Net Income Rise to ₹84.18 Crores

Praj Industries Q1 Results: Praj Industries reported its Q1 results for the fiscal period ending June 2024. The company’s total revenue was ₹699.14 crores, which shows a decrease of 30.8% quarter-on-quarter (QoQ) from ₹1,011.62 crores in March 2023. However, when comparing to the same quarter last year, the revenue only fell by 5.1% year-over-year (YoY) from ₹736.72 crores. Selling, General, and Administrative expenses increased to ₹77.67 crores, marking a 10.4% rise QoQ and a significant 23.7% increase YoY compared to ₹62.75 crores in June 2023.

Praj Industries’ depreciation and amortization expenses jumped to ₹20.16 crores, which is a dramatic increase of 112.9% QoQ from ₹9.48 crores and a notable rise of 128.3% YoY from ₹8.81 crores last year. Meanwhile, operating income fell to ₹66.63 crores, down 29.8% QoQ but improved by 6.7% YoY. The net income before taxes stood at ₹107.04 crores, decreasing by 5.3% QoQ but rising by 37.7% YoY. Finally, the diluted normalized EPS dropped to ₹3.38, which is 29.4% lower QoQ but showed a slight increase of 5.9% YoY. Overall, the results reflect challenges in the short term but some positive trends compared to the previous year.

Here are the Q1 results for Praj Industries, presented in a simple table format:

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Praj Industries Q1 Results

Praj Industries has shared its unaudited standalone financial results for the quarter that ended on June 30, 2024. During this quarter, the company earned a total income of ₹6,140.612 million, which is slightly lower than the ₹6,610.090 million it earned in the same quarter last year. The decrease in revenue is primarily due to a drop in revenue from operations, which was ₹6,006.609 million compared to ₹6,498.902 million in the previous year.

Praj Industries managed to keep its expenses lower, totaling ₹5,263.773 million, down from ₹5,959.445 million a year earlier. This reduction in expenses helped the company achieve a profit before tax of ₹1,158.411 million, which is a significant increase compared to ₹650.645 million in the previous year. After accounting for tax expenses, which totaled ₹240.010 million, the company reported a profit for the period of ₹918.401 million. This is a notable improvement from ₹491.692 million in the same quarter last year. Overall, despite a decrease in revenue, Praj Industries demonstrated strong cost management and improved profitability in this quarter.

Here’s a summary of the unaudited standalone financial results for the quarter ended June 30, 2024:

Praj Industries Financial Performance

Praj Industries is a company with a market capitalization of ₹ 13,931 crore, meaning it is valued at this amount in the stock market. The current stock price is ₹ 758, with a highest price of ₹ 827 and a lowest of ₹ 448 over a specific period. The Price-to-Earnings (P/E) ratio is 48.5, indicating investors are willing to pay ₹ 48.5 for every ₹ 1 of earnings, suggesting high growth expectations. The book value of the shares is ₹ 69.3. It also offers a dividend yield of 0.78%, meaning investors receive this percentage of the stock price as dividends.

Here’s the information you provided in a simple table format:

Quarterly Results 

Praj Industries' financial data for the quarters December 2023, March 2024, and June 2024 shows their performance over time. In December 2023, the company had sales of Rs. 829 crores and a net profit of Rs. 70 crores. By March 2024, sales increased to Rs. 1,019 crores, and net profit rose to Rs. 92 crores, showing strong growth. 

Here’s the data for the quarters December 2023, March 2024, and June 2024, along with the particulars:

About Praj Industries 

Praj Industries is a leading company based in Pune, India, known for its work in bio-based technologies and engineering. Founded over 40 years ago, it started as a supplier of ethanol plants and has grown significantly over the years. Today, Praj is recognized as one of the most successful companies in its field, with operations in more than 100 countries across all six continents. The company is committed to creating sustainable solutions that help make the world a better place. Praj offers a wide range of products and services, including bioenergy solutions, high purity water systems for the pharmaceutical industry, critical process equipment for various industries like oil and gas, and integrated wastewater treatment systems. 

Praj is involved in the brewery and beverage sector, providing complete solutions from technology development to project installation. With over 1,000 successful projects, Praj Industries has established a strong reputation for its innovative approaches and expertise. The company continues to focus on developing cleaner and more efficient technologies to meet the growing demand for sustainable solutions in today's world. Praj’s dedication to sustainability and innovation makes it a key player in the global market.