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Praj announces Q1 FY23 results

Praj announces Q1 FY23 results

Revenue at Rs.729.87 crore; PAT at Rs. 41.26 Crore 

Pune, August , 2022: Praj Industries (Praj), a globally leading process engineering company with a bouquet of sustainable solutions for Bioenergy, Cleantech and Greentech industry announced its unaudited financial results for the quarter ended June 30, 2022

Performance Review for Q1 FY23 - Consolidated:

  1. Income from operations stood at Rs729.87 crore (Q1 FY22: Rs. 386.26 crore; Q4 FY22: Rs. 829.01 crore)
  2. PBT is at Rs. 54.23 crore for the period (Q1 FY22: Rs. 29.80 crore; Q4 FY22: Rs. 78.05 crore)
  3. PAT is at Rs. 41.26 crore (Q1 FY22: Rs. 22.20 crore; Q4 FY22: Rs. 57.65)
  4. Order intake during the quarter Rs. 1094 crore (Q1 FY22: Rs. 661 crore; Q4 FY22: Rs. 1101.5  crore)

 

Commenting on the Company’s performance, Mr. Shishir Joshipura, CEO & MD, Praj Industries said“We have started FY 23 on a strong note with positive developments on order book and delivery volumes. However, challenges around volatile commodity prices, impact of war in Europe and rising global inflation continued. With commodity prices & supply chains stabilizing and increased focus on sustainable energy transition, business environment is expected to be conducive going forward.

 

Key Developments:

·Praj was conferred with the prestigious Fortune India THE NEXT 500 in the Engineering sector. Fortune India Next 500 is a ranking of the top five hundred midsize corporations in India compiled based on the latest sales and gross revenue figures. This award is a recognition of the remarkable growth and outstanding performance among the most promising mid-sized companies in India

·Praj was bestowed with prestigious Golden Peacock Award in the Innovative Product and Service category for its ground-breaking product BIOSYRUP®. BIOSYRUP® makes it possible to store sugarcane juice in form of syrup for up to 12 months without any contamination or loss of sugar.

·Praj joined Mission Possible Partnership (MPP), International Alliance to Pursuit Net Zero Aviation. Praj has been working closely with MPP in helping formulate an energy transition strategy aimed at cleaner skies. Praj has actively contributed to the formulation a landmark report, “Making Net-Zero Aviation possible: An industry-backed, 1.5°C aligned Transition Strategy.

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