Pune, August 9 th, 2013: Praj Industries (Praj), the global process engineering and solutions provider for bioethanol, alcohol & brewery, water & wastewater and process equipment globally, announced its unaudited financial results for Q1 FY2013-2014.
The Company has made noticeable progress during this quarter, becoming South Asia's 1st company to set up a demo plant on Cellulosic Ethanol Technology. The ground breaking of this significant project was conducted recently at Shirala (Sangli) in Maharashtra.
Performance Review for Q1 FY2014- Consolidated:
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Income from operations stood at Rs. 173.06 crore (Q1 FY2013: Rs.200.23 crore)
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PBT is at Rs. 4.87 crore for the period
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PAT is at Rs. 3.09 crore (after minority interest)
"This quarter is certainly not representative of the fiscal 2014. The lower sales turnover is on account of order entry timings in the previous fiscal and extended project execution cycle due to challenging external environment. However, the order ramp up in the past two quarters have been good, which should reflect in the execution cycle over the latter half of the year. There are number of first that we achieved in the ensuing period, first order for a turnkey brewery plant from Africa, Largest order from a global pharmaceutical Company for Neela Systems(Praj Subsidiary) and ground breaking of South Asia's first Cellulosic Ethanol demo plant by Praj. We are excited about opportunities we see in this very challenging environment," said Mr. Gajanan Nabar, CEO & MD, Praj Industries.
Key Developments
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New Order gains at Rs. 252 crore (consolidated) during the quarter. The net pending orders at the quarter end is Rs. 1004 crore
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Breakthrough for brewery business in Africa, a growth market, with a Rs 54 crore order from a global beer producer for their project in Namibia
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Neela Systems, a subsidiary of Praj Industries, gains big ticket orders with a breakthrough from a global pharmaceuticals Company, worth Rs. 30 crore for a pharmaceutical manufacturing facility in Vizag, Andhra Pradesh. Also receives an export order from Central Asia
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UK's largest bioethanol plant based on Praj technology and design for Vivergo Fuels Ltd officially starts production.
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2nd Generation (2G) Cellulosic Ethanol Demo Plant by Praj sees ground-breaking at Shirala in Sangli District of Maharashtra. This will be South Asia's 1st Cellulosic Ethanol Demo Plant with a project cost of US$ 25 mln (Rs 145 - 150 crore). The Company is in discussions with various entities including financial institutions and Government organizations for partnership.
About Praj Industries Limited:
Praj is a global Indian company that offers innovative solutions to add significant value to bio-ethanol facilities, alcohol & brewery plants, water & wastewater treatment systems as well as process engineering, plant & equipment for customers worldwide. With over 500 references across five continents, Praj is a leading Ethanol Technology & Plant supplier with a strong focus on secondgeneration bioethanol process development. Praj is a knowledge-based company with expertise and experience in bioprocesses and engineering. It delivers know-how, license, engineering design, plant & equipment, project management, commissioning and customer care, and turnkey projects. 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. www.praj.net
BSE: 522205; NSE: PRAJIND; Bloomberg: PRJ@IN; Reuters: PRAJBO
Vinati Moghe
Praj Industries Ltd,
Phone: 020 39806314
Fax: 022 2295 1718
Email: vinatimoghe@praj.net |
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