Praj Industries post stellar Q2 results, net profit jumps by 44%

5paisa Research Team 11th December 2022 - 09:55 am

At the end of September quarter, order backlog for the company stood at Rs 33,457 crore.

Praj Industries, India’s leading company in bio energy space announced Q2FY23 results on October 18, post market hours. Consolidated revenue for the second quarter jumped 64.64% YoY and 20.10% QoQ to Rs 876.58 crore. Of the total revenue, 75% of the revenue is attributable to bio energy segment, 19% to engineering and remaining 6% to Hi purity business. Geographically, domestic business contribution was at 83% while exports at 17%.

Total expenses rose by 66% YoY to Rs 816.96 crore in the second quarter, due to higher raw material costs (up 65.8% YoY), higher employee expenses (up 65.8% YoY) and higher other expenses (up 75.4% YoY).

Consolidated EBIDTA (excluding Other Income) was up by 51.97% YoY and 22.99% QoQ at Rs 64.68 crore while consolidated PAT was up by 44%YoY and 16.65% QoQ at Rs 48.13 crore.

The company reported EBITDA (excl OI) margin of 7.38 % which contracted by 25 basis points on YoY (expanded by 17 basis points on QoQ) PAT margins stood at 5.49 % which saw a contraction of 77 basis points and 16 basis points on YoY and QoQ respectively.

Half yearly performance of this market leader in 1G ethanol plant was also robust.
Consolidated net revenue was up YoY by 74.9 % at 16,065 crore. EBIDTA was up by 60.9% at Rs 1,236 crore while PAT was up by 61.1% at Rs 894 crore. The EBITDA margin for H1FY23 came in at 7.69 % with contraction of 67 bps and PAT margins stood at 5.56 %, down by 48bps.

Praj Industries is currently trading at trailing P/E of 36.48 times at Rs 441.90 (up by 0.71%) and enjoys a market capitalization of Rs 8,118.02 crore.

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5paisa Research Team

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