The Hindu Business Line : Praj Ind firming up plans to expand overseas operations

THE Pune-based Praj Industries Ltd, a major player in the ethanol industry is firming up plans to significantly expand its international operations and has bagged orders worth over Rs 140 crore from Colombia in the first quarter of the current financial year, against stiff competition from Brazil, which is the world leader in the business.

The Chairman and Managing Director, Mr Pramod Chaudhari, told reporters here on Tuesday that the company has also bagged an order for providing technology, design and engineering of a 1,40,000 l/day grain distillery from Australian Biofuels in the same period.

"The experience with such a large capacity plant will help us tap major markets like Europe and US," Mr Chaudhari said, adding that in the next three years the company expects 50 per cent of its revenues to come from international operations.

The company grossed Rs 20 crore last year from its international operations.

The company announced first quarter results for FY04-05 and said income from operations stood at Rs 25.82 crore while profit before tax at Rs 3.63 crore was nearly three times the figure of Rs 1.31 crore in the corresponding period last year.

Net profit rose to Rs 2.95 crore for the first quarter compared to Rs 89.85 lakh in the previous year during the same period.

The company is also expanding its operations in other international markets with its UAE office, the fifth office overseas, now functional.

"We have bagged a Rs 15-crore contract for machinery from a sugar mill in Thailand and are executing a number of small consultancy contracts in the European markets."

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