PRAJIND Declares Rs 6 Dividend per Share for FY 2023-24

Praj Industries Limited has announced a dividend of ₹6 per equity share for the financial year that concluded on 31st March 2024. The decision to declare this dividend was taken during a meeting of the Board of Directors held on 30th May 2024. However, the dividend payout remains contingent upon approval from shareholders at the upcoming Annual General Meeting (AGM).

The proposed dividend, amounting to approximately ₹1102.879 million, reflects a distribution of 300% per equity share with a face value of ₹2 each. Shareholders are scheduled to convene via Video Conferencing/Other Audio Video Visual Means on 25th July, 2024, to finalize this declaration.

Pending shareholder approval, the dividend is expected to be paid out by 23rd August, 2024. The meeting will include the adoption of audited Standalone and Consolidated Financial Statements, along with the re-appointment of Ms. Parimal Chaudhari. 

This announcement underscores Praj Industries' commitment to rewarding its shareholders while maintaining financial prudence and strategic growth objectives.

Praj Industries Annual Report

Praj Industries (Praj) excelled in delivering cutting-edge innovations in biofuels, biomaterials, and energy transition, underscoring its commitment to environmental stewardship and global sustainability goals.

With a steadfast focus on decarbonization and renewable energy, Praj's strategic initiatives at the forefront of the bioeconomy, such as BioMobility and Bio-Prism, have garnered international acclaim.

The company's robust TEMPO model, integrating Technology, Engineering, Manufacturing, Project management, and Operations, continues to drive operational excellence and client satisfaction worldwide. 

Financial Metrics 

The Company's finances for the standalone & consolidated statement in the is given below. 

Consolidated Statement 

New Tech Absorption:

Praj Industries has made significant strides in energy conservation, technology absorption, value maximization, and innovation in the financial year 2023-24.  

1. Energy Conservation Initiatives:
   • Retrofitting all operational premises with LEDs for enhanced energy efficiency.
   • Transitioning from diesel-based to LPG-based heat treatment at the Kandla operations to reduce emissions.
   • Implementation of Solar Open Access for the Pune office and operation spaces to achieve 100% green energy availability.
2. Technology Development and Innovation:
   • Developed technologies like mechanical vapor recompression for thermal energy reduction (up to 80%) and RNG production from distillation streams, achieving significant reductions in greenhouse gas emissions.
   • Innovations in ethanol production from starchy feedstocks, enhancing yield and reducing carbon intensity.
   • Advanced process optimizations for ethanol production, resulting in higher yields and improved economic outcomes.
3. Technology Absorption and Sustainability:
   • Focus on designing plants and machinery that minimize energy and water consumption, meeting stringent environmental standards.
   • Integration of sustainability principles into plant design to surpass previous benchmarks in yield, water consumption, energy use, and effluents.
4. International Recognition and Patents:
   • Received significant international patents and recognition for innovations in biofuel and renewable energy technologies.
   • Continued leadership in global markets, with expansions and orders from diverse sectors including biofuels, renewable natural gas, and sustainable aviation fuel.

These efforts underline Praj Industries' commitment to sustainable development and leadership in the bioeconomy, positioning itself as a global leader in innovative bioenergy solutions.

Manufacturing Capability

Praj Industries operates advanced manufacturing facilities in Maharashtra (Sanaswadi, Wada), Gujarat (Kandla), and Mangalore (Padubidri), certified with ASME U & U2, R, and NB Registrations.

These sites ensure compliance with global standards while prioritizing Health Safety and Environment (HSE) norms. The Mangalore facility exemplifies Industry 5.0 with collaborative robots ('cobots'), enhancing operational efficiency. Praj's Zero D program focuses on quality, efficiency, and sustainability, optimizing productivity and strengthening the global supply chain.

Future Outlook 

Praj is leading efforts to reduce greenhouse gas emissions and achieve net-zero goals. Supported by India's promotion of Compressed Biogas (CBG) and initiatives in Bio-Manufacturing, Praj anticipates robust growth in Renewable Biofuels and Renewable Chemicals & Materials sectors, propelled by favorable policies and advancing technology
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Praj Industries Limited

Praj Industries, headquartered in Pune, India, started as a supplier of ethanol plants and has grown into a global leader in bio-based technologies and engineering.

They specialize in sustainable solutions across bioenergy, high purity water systems for pharmaceutical and biotech industries, critical process equipment for various sectors like oil & gas, and industrial wastewater treatment.

Praj serves clients in over 100 countries across five continents and is known for its R&D center, Praj Matrix, which develops innovative technologies including second-generation ethanol.

With world-class manufacturing facilities and a workforce of around 1200 professionals, Praj continues to innovate in renewable fuels and chemicals, aiming to enhance global environmental sustainability and quality of life.