Praj announces Q2 FY23 results: Revenue at Rs 876.58 crore; PAT at Rs 48.13 Crore

Pune, October 19, 2022: Praj Industries (Praj), a globally leading process engineering company with a bouquet of sustainable solutions for Bioenergy, Energy transition announced its unaudited financial results for the quarter ended Sept 30, 2022.

Performance Review for Q2 FY23 – Consolidated:
• Income from operations stood at Rs. 876.58 crore (Q1 FY23: Rs. 729.87 crore; Q2 FY22: Rs. 532.41
• PBT is at Rs. 65.78 crore for the period (Q1 FY23: Rs. 54.23crore; Q2 FY22: Rs. 46.77 crore)
• PAT is at Rs. 48.13 crore (Q1 FY23: Rs. 41.26 crore; Q2 FY22: Rs. 33.34)
• Order intake during the quarter Rs. 981 crores (Q1 FY23: Rs. 1094 crore; Q2 FY22: Rs. 745 crore)
Performance Review for H1 FY23 – Consolidated:
• Income from operations stood at Rs. 1606.45 crore (H1 FY22: Rs. 918.67 crore)
• PBT is at Rs. 120.01 crore for the period (H1 FY22: Rs. 76.57 crore)
• PAT is at Rs. 89.39 crore (H1 FY22: Rs. 55.54 crore)
• Order intake Rs.2075 crore (H1 FY22: Rs. 1406 crore)

Commenting on the Company’s performance, Mr. Shishir Joshipura, CEO & MD, Praj Industries said, “Our results for the quarter are reflective of continually building favourable business environment. Global economy continued to face headwinds in form of geopolitical situation, high inflation, continued uncertainty & volatility on energy front in several parts of the world. Energy transition is creating several new opportunities for sustainable fuels and we are confident of leveraging them and deliver to our potential.”

Key Developments:
• In August 2022, Praj’s first 2G Bioethanol plant at IOCL Panipat was unveiled by Prime Minister in presence of cabinet ministers.
• The US Government passed Inflation Reduction Act (IRA). Significant provisions of support on advancement of biofuels across different modes of mobility.
• Constructive developments in the ecosystem for development of biofuels projects in state of Uttar Pradesh.
• Praj has entered into an MoU with ICT to establish Center Of Excellence & Innovation (COEI) for Biopolymers. This center will undertake research, promote academic pursuit, and explore newer applications including biodegradable plastic as a solution curb plastic menace
• Praj received CAP 2.0 AWARD from Confederation of India Industries for contributions in the climate actions initiatives.
• Dr. Pramod Chaudhari was conferred with IACC’s Special Award 2022- ‘Outstanding Contributor to the Cross-Border Trade’
• Renewable Energy India’s conferred Dr. Chaudhari with ‘Special Industry Recognition Award’
• Dr. Chaudhari received ‘Sustainability Champion of the Year’ Award for 2022 from Manufacturing Today.


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