The Hindu Business Line : Praj Ind PAT grows 77%, income 20%

Pune, May 8 Biofuels technology company Praj Industries has posted 77 per cent growth in net profit at Rs 153.54 crore during 2007-08 against Rs 86.52 crore in the previous fiscal. Total income grew by 20 per cent to Rs 740.3 crore (Rs 616.4 crore).

The company has achieved a PBT of Rs 174.38 crore (Rs 110.36 crore), while EBIDT margin at 20 per cent has improved from 17 per cent last year. Basic EPS stood at Rs 8.55 per Rs 2 share.

“The margins have shown significant improvement, despite increase in steel prices (input), largely due to our ability to drive down cost as a result of value engineering exercises undertaken by us as well as the product mix,” Mr Shashank Inamdar, CEO & Managing Director, Praj, said.

The company has also benefited from its manufacturing activities in the special economic zone at Kandla from where exports have begun since its inauguration in August 2007.

Order book

A statement from the company said that the order-book stood at Rs 950 crore, with orders from all geographies including a recent $25-million order for two greenfield plants for Pantaleon — one of the largest sugar groups in Central America — in Guatemala.