Is Praj Industries a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Praj Industries Ltd is a average quality company .

Is Praj Industries undervalued or overvalued?

The key valuation ratios of Praj Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Praj Industries share price return in the past 10 years?

Praj Industries Ltd share price has appreciated 24.9% annually (CAGR) over the past ten years.

Is Praj Industries a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Praj Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Praj Industries Ltd - Stock Valuation and Financial Performance

Name: Praj Industries
Brand: Praj Industries

BSE: 522205 | NSE: PRAJIND | Engineering - Industrial Equipments | Small Cap

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Praj Industries Share Price

₹675.90 -18.20 -2.62%
as on 21-Nov'24 16:59

10 Year X-Ray of Praj Industries:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	14.3%	16.4%	9.9%	7.5%	12%	11.8%	15.3%	24.2%	32.4%	32.9%	-
Value Creation Index ⓘ	0.0	0.2	-0.3	-0.5	-0.1	-0.2	0.1	0.8	1.4	1.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	995	1,079	812	964	1,076	1,106	1,313	2,223	3,582	3,391	3,363
Sales YoY Gr.	-	8.4%	-24.7%	18.7%	11.7%	2.8%	18.7%	69.4%	61.1%	-5.3%	-
Adj EPS ⓘ	3.6	4.6	2.3	2	3.1	3.5	4.2	7.5	12.5	14.4	16.3
YoY Gr.	-	29%	-49.6%	-15.6%	59.5%	13.5%	17.6%	80.7%	66.3%	15.2%	-
BVPS (₹) ⓘ	35.1	36.5	39.3	39.9	40.7	39.2	43.7	49.7	58.5	69.3	70.7
Adj Net Profit ⓘ	62.9	81.5	41.4	35.3	56.8	64.7	76.1	138	229	264	300
Cash Flow from Ops. ⓘ	150	51.1	20.2	101	33	14.7	225	188	162	199	-
Debt/CF from Ops. ⓘ	0.1	0.3	0.2	0.1	0	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	14.6%	25.8%	37.2%	-5.3%
Adj EPS ⓘ	16.8%	35.8%	51.3%	15.2%
BVPSⓘ	7.9%	11.3%	16.7%	18.5%
Share Price	24.9%	44.2%	24.8%	15.3%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	10.5	12.8	6.1	4.9	7.7	8.8	10	16	23	22.4	23.3
Op. Profit Mgn % ⓘ	8.6	10.6	8.5	5.4	7.7	6.2	7.8	6.1	8.2	10.7	12
Net Profit Mgn % ⓘ	6.5	7.6	5.1	3.7	5.3	5.9	5.8	6.2	6.4	7.8	8.9
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	0
Working Cap Days ⓘ	247	201	284	230	202	211	204	176	148	174	109
Cash Conv. Cycle ⓘ	102	79	72	55	49	63	58	46	47	54	38

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 23.30%

Sales growth is growing at healthy rate in last 3 years 37.22%

Net Profit is growing at healthy rate in last 3 years 51.25%

Sales growth is not so good in last 4 quarters at -5.06%

Latest Financials - Praj Industries Ltd.

	Standalone	Consolidated
TTM EPS (₹)	16.2	16.3
TTM Sales (₹ Cr.)	2,861	3,363
BVPS (₹.) ⓘ	70.6	70.7
Reserves (₹ Cr.) ⓘ	1,261	1,263
P/BV ⓘ	9.83	9.82
PE ⓘ	42.98	42.48

From the Market
52 Week Low / High (₹)	448.00 / 826.70
All Time Low / High (₹)	0.20 / 826.70
Market Cap (₹ Cr.)	12,758
Equity (₹ Cr.)	36.8
Face Value (₹)	2
Industry PE ⓘ	57.5

Management X-Ray of Praj Industries:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Praj Industries

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Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Praj Industries

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	995	1,079	812	964	1,076	1,106	1,313	2,223	3,582	3,391
Operating Expenses ⓘ	910	965	743	916	997	1,037	1,210	2,087	3,288	3,027
Manufacturing Costs	144	149	127	139	167	187	200	332	564	553
Material Costs	489	522	364	516	545	556	744	1,343	2,255	1,887
Employee Cost	133	154	148	149	161	164	172	218	258	319
Other Costs ⓘ	145	139	104	111	124	130	94	194	212	269
Operating Profit ⓘ	85	114	69	48	79	69	103	136	293	364
Operating Profit Margin (%)	8.5%	10.6%	8.5%	5.0%	7.4%	6.2%	7.8%	6.1%	8.2%	10.7%
Other Income ⓘ	42	18	22	30	32	39	36	94	60	67
Interest ⓘ	2	2	1	1	1	3	3	3	5	10
Depreciation ⓘ	38	25	22	24	23	22	22	23	30	44
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	86	105	68	53	88	83	113	205	319	377
Tax ⓘ	8	23	23	14	20	13	32	55	79	94
Profit After Tax	78	82	45	39	68	70	81	150	240	283
PAT Margin (%)	7.9%	7.6%	5.5%	4.1%	6.3%	6.4%	6.2%	6.8%	6.7%	8.4%
Adjusted EPS (₹)	4.3	4.6	2.5	2.2	3.7	3.9	4.4	8.2	13.1	15.4
Dividend Payout Ratio (%)	38%	35%	65%	74%	57%	70%	49%	51%	34%	39%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	622	649	706	722	742	717	800	913	1,075	1,274
Share Capital ⓘ	35	36	36	36	37	37	37	37	37	37
Reserves ⓘ	587	614	670	686	706	681	763	876	1,039	1,238
Minority Interest	15	0	0	1	1	1	1	0	0	0
Debt	17	16	4	6	0	0	0	0	0	0
Long Term Debt	0	0	0	0	0	0	0	0	0	0
Short Term Debt	17	16	4	6	0	0	0	0	0	0
Trade Payables	177	207	213	176	235	187	342	425	505	497
Others Liabilities ⓘ	311	276	261	224	260	238	441	878	1,027	1,115
Total Liabilities ⓘ	1,142	1,149	1,185	1,129	1,238	1,144	1,583	2,216	2,608	2,886
Fixed Assets
Gross Block	454	443	449	500	514	553	560	585	643	862
Accumulated Depreciation	152	171	193	216	238	273	290	313	340	388
Net Fixed Assetsⓘ	302	272	256	283	276	280	270	272	303	474
CWIP ⓘ	1	1	31	4	2	2	1	2	7	43
Investmentsⓘ	158	132	134	201	211	164	335	463	543	497
Inventories	227	101	105	81	126	111	129	345	334	221
Trade Receivables	280	367	295	263	305	330	453	512	795	836
Cash Equivalents	100	82	74	80	88	49	132	155	145	213
Others Assetsⓘ	74	195	290	217	229	207	263	466	481	602
Total Assets ⓘ	1,142	1,149	1,185	1,129	1,238	1,144	1,583	2,216	2,608	2,886

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	150	51	20	101	33	15	225	188	162	199
PBT ⓘ	86	105	68	53	88	83	113	205	319	377
Adjustment ⓘ	27	29	18	28	21	26	11	6	28	23
Changes in Working Capital ⓘ	27	-47	-45	33	-55	-76	116	22	-122	-97
Tax Paid ⓘ	9	-36	-21	-13	-21	-18	-15	-45	-63	-104
Cash Flow From Investing Activity ⓘ	-80	-1	-8	-71	-6	62	-164	-140	-84	-10
Capex	4	-12	-37	-16	-14	-7	-9	-18	-35	-88
Net Investments	-73	37	21	-61	3	58	-163	-130	-57	62
Others ⓘ	-12	-26	8	6	5	11	7	9	8	16
Cash Flow From Financing Activityⓘ	-40	-68	-4	-25	-43	-98	-6	-44	-93	-124
Net Proceeds from Shares ⓘ	0	4	9	9	9	0	0	3	0	1
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-2	-1	-1	0	0	-2	-2	-2	-4	-9
Dividend Paid ⓘ	-34	-69	-1	-35	-46	-95	0	-40	-77	-83
Others ⓘ	-4	-1	-12	2	-6	-1	-4	-5	-12	-33
Net Cash Flow ⓘ	29	-18	8	6	-16	-21	54	4	-16	65

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	12.99	12.97	6.58	5.53	9.31	9.65	10.68	17.54	24.12	24.12
ROCE (%)	14.29	16.39	9.94	7.49	12.01	11.78	15.25	24.15	32.44	32.92
Asset Turnover Ratio	0.85	0.98	0.73	0.84	0.91	0.93	0.96	1.17	1.49	1.23
PAT to CFO Conversion(x)	1.92	0.62	0.44	2.59	0.49	0.21	2.78	1.25	0.68	0.7
Working Capital Days
Receivable Days	106	106	142	105	96	105	109	79	67	88
Inventory Days	80	53	44	35	35	39	33	39	35	30
Payable Days	141	134	211	138	138	138	130	104	75	97

Praj Industries Ltd Stock News

Praj Industries Ltd FAQs

What is the share price of Praj Industries?

Company share prices are keep on changing according to the market conditions. The closing price of Praj Industries on 21-Nov-2024 16:59 is ₹675.9.

What is the market cap of Praj Industries?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 16:59 the market cap of Praj Industries stood at ₹12,758.5.

What is the P/E ratio of Praj Industries?

The latest P/E ratio of Praj Industries as of 21-Nov-2024 16:59 is 42.98.

What is the P/B ratio of Praj Industries?

The latest P/B ratio of Praj Industries as of 21-Nov-2024 16:59 is 9.83.

What is the 52-week high and low of Praj Industries?

The 52-week high of Praj Industries is ₹826.7 and the 52-week low is ₹448.0.

What is the TTM revenue of Praj Industries?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Praj Industries is ₹2,861 ( Cr.) .

About Praj Industries Ltd

Praj Industries was set up in 1984 with a vision to deliver cutting edge technologies to distillery industries. It is leading biofuel Technology Company providing number of processes and systems for ethanol and biodiesel productions. It is a globally leading Company with over 600 references in more than 60 countries across 5 continents, Praj has acquired an international reputefor responsible and reliable solutions.

Business

Alcohol Plants- For alcohol productions its has developed HIFERM fermentation systems that is developed to handle variety of raw materials. It also develops a plant that handles raw materials to developing wastewater treatment systems.

Fuel Ethanol Plants- It develops Ecomol Molecular Sieve Plants that provide consistent quality products, minimum consumption of energy, maximum alcohol recovery and automation and control system.

Water & Wastewater Treatment Plants - Praj offers integrated water & wastewater treatment systems and has already made a beginning in the industrial sector with a wide range of solutions. This vertical addresses industrial applications for high quality water, complex effluent treatment including recycle and reuse and zero liquid discharge plants.

Bio Diesel plants- It develops complexes that can produce biodiesel and bioethanol.

Brewery Plants- It does plant engineering for brewery industries.

Recognition

2013

Mr. Pramod Chaudhari received the prestigious BioSpectrum Leadership Award 2013 for his contribution to the biofuels industry through technological innovations.
Pramod Chaudhari honored with the Lifetime Achievement Award 2013 by the Sugar Technologists Association of India
In March 2013, Praj received the ABLE (Association of Biotechnology Led Enterprises) Tenth Anniversary Award under the â€˜BioIndustrialâ€™ category for its efforts and contribution towards Industrial Biotechnology
Pramod Chaudhari receives Maxell Lifetime Achievement Award 2013

2012

In Decebmer 2012, Praj Matrix bagged the 'Green Innovation Award' for Outstanding Research in the field of Green Chemistry & Engineering
In October 2012, Praj receives the MCCIA- B. G. Deshmukh 'Innovation in Corporate Social Responsibility Award 2012'
In May 2012, Praj received the EPCES Export Award or outstanding export performance during the year 2009-10 from the Category-II Product Specific SEZ - MSME.
Praj/DBS Team wins the Safety Performance Award for the Month of April 2012 at Illovo project site.
In March 2012, Kandla SEZ Unit receives Highest Export award for the year 2012-2011 under the category of Engineering and Metallurgical Products.
Praj was conferred with Bio-Excellence Award 2012 for the 2nd time in February 2012 for outstanding contribution to BioIndustrial Sector.

2011

In March 2011, Pramod Chaudhari bestowed with Pune's Pride award for his excellence in corporate world

2010

In September 2010, Praj was honored with EEPC 'Gold Trophy' Third time is a row for exceptional performance in exports for the year 2008-2009

Praj Industries is among 14 Indian Companies which are members of 125 GGC forum.

It has been acknowledged by Business Standard and by Business World â€“ Boston Consulting Group as best value creator.

Milestones

2013

Mr. Pramod Chaudhari received the prestigious BioSpectrum Leadership Award 2013 for his contribution to the biofuels industry through technological innovations.
Pramod Chaudhari honored with the Lifetime Achievement Award 2013 by the Sugar Technologists Association of India
In March 2013, Praj received the ABLE (Association of Biotechnology Led Enterprises) Tenth Anniversary Award under the â€˜BioIndustrialâ€™ category for its efforts and contribution towards Industrial Biotechnology
Pramod Chaudhari receives Maxell Lifetime Achievement Award 2013

2012

In Decebmer 2012, Praj Matrix bagged the 'Green Innovation Award' for Outstanding Research in the field of Green Chemistry & Engineering
In October 2012, Praj receives the MCCIA- B. G. Deshmukh 'Innovation in Corporate Social Responsibility Award 2012'
In May 2012, Praj received the EPCES Export Award or outstanding
export performance during the year 2009-10 from the Category-II Product Specific SEZ - MSME.
Praj/DBS Team wins the Safety Performance Award for the Month of April 2012 at Illovo project site.
In March 2012, Kandla SEZ Unit receives Highest Export award for the year 2012-2011 under the category of Engineering and Metallurgical Products.
Praj was conferred with Bio-Excellence Award 2012 for the 2nd time in February 2012 for outstanding contribution to BioIndustrial Sector.

2011

Praj manufacturing gets ISO 14001 certification
Praj gets OHSAS 18001 certification

2010

Praj ventures into Water & Water Treatment Solutions
Commissioned bio-ethanol plant for Biowanze, Belgium
Praj installs â€˜Grain to Ethanolâ€™ Pilot Plant at Praj Matrix-The R&D Center

2009

Praj inaugurated the Cellulosic Ethanol Pilot Plant at Praj Matrix at Urawade. The pilot plant is capable of producing ethanol from corn cob and sugarcane baggase under varying operating conditions. It is a break-through in cellulosic biomass to ethanol technology at pilot scale
Praj entered into Customized Engineering & Manufacturing Sector
Praj receives ISO 9001-2008 status
Praj entered into Energy Crop Agri-Solution Business

2008

Praj sets up JV in Brazil with Jaragua Equipamentos called Praj Jaragua Bioenergia SA.
Praj technology selected for the largest European Plant for Vivergo Biofuels
Praj inaugurated the state-of-the-art R&D facility, Praj Matrix the innovation center focusing on second/third generation biofuels.

2007

Praj and Aker Solutions JV company established (BioCnergy Europa B.B.) in The Netherlands.
Praj received orders to install Cassava based plants in Thailand.
Aker Solutions and Praj win contract for world-scale bioethanol project in the UK.
5th Manufacturing facility in Kandla (SEZ), India commissioned for bioethanol and biodiesel manufacturing units.
Praj received orders to install Cassava based plants in Thailand.
UKs first plant based on Praj process plant inaugurated.

2006

All five large sized ethanol plants in Colombia on stream for commercial production from March 2006 onwards.
Breakthrough in European Market - received contract from British Sugars.
Breakthrough in US market. Receives two major contracts to install large size ethanol plants.
Praj was Platinum Sponsor at FO Licht World Ethanol Event, Amsterdam.
Praj expands R&D Center.
Venture Capitalist Vinod Khosla and Marubeni Corporation invests in Praj.
Praj inks alliance with Meura for High Performance Brewery Mash Filters Praj expands Brewery Business.
Praj Bio-ethanol Technology for Belgium.
Skid Mounted Ethanol Plant designed, manufactured and shipped to CSR Australia.
Breakthrough in the USA market.
Praj Industries and Aker Solutions forge a bio-ethanol alliance in Europe.

2005

Praj commissioned two large size ethanol plants in Colombia.
DSIR honors Praj for exports in in-house R&D based technology.
Exclusive Export Oriented Unit (EOU) established.
Brewery Manufacturing facility near Pune (Sanaswadi, Unit-2) acquired.
Praj acquires worldwide rights for Molecular Sieve based dehydration technology from Delta-T.
ICRA certified Praj as A1+ category company for short term finance.
ESOP (Employees Stock Option Plan) declared.
Praj was the prime (Platinum) sponsor for World Ethanol Event (2005).
Praj sponsors major ethanol events worldwide.

2002/04

Praj Enters in to Australian Market with First technology and engineering order for green-field Fuel ethanol production plant.
Launch of PRAJ-Matrix - The Innovation Center for advanced applied research in the field of ethanol and brewing process.
Praj opens three new offices overseas - Johannesburg, Bangkok and Sharjah.
Praj commissions South East Asia's first Secondary Juice to Ethanol Plant at Vaidyanath SSK, Pangri, Maharashtra.
Praj is Gold Sponsor to World Ethanol Conference an Annual worldwide yearly conference in London.(2003).
Praj participates in the National Planning Commissions Policy on Biofuels.
Praj develops Sweet Sorghum to Ethanol process.
Praj helps with 1200-1400 acres of pilot cultivation of Sweet Sorghum in India. Trials completed in Australia also.
Praj attains leadership in fuel ethanol plants in India with over 70% market share.
Praj crosses the 1 billion turnover mark.
Received 6 major orders for fuel ethanol in South/Central America. Establishes lead over Brazilian & European Technology Companies in South America.
Praj received ICORE award for the leadership in Biofuels.
Praj's Chairman received Distinguished Alumnus Award from IIT, Mumbai.
Praj commissions a unique wastewater treatment plant in Colombia. This technology was developed in-house.
Praj announces 2004-05 as The Year of Innovation.
Praj is Prime (Platinum) Sponsor to World Ethanol Conference an Annual worldwide yearly conference in London.(2004)

2000/02

Praj ties up with Delta T Corp, USA for Vapor Phase Molecular Sieve Dehydration plants, for production of Fuel grade ethanol.
The first MSDH plant in India went on stream in May 02.
Praj enters into East European Market with engineering order for a grain-based plant.
Praj launches Multi-feed & Multi-product Ethanol technology for round the year distillery operation. Application engineering completed for Cane juice and Sugar Beet to ethanol process technology.
Praj bags an order for Multi-feed & multi-product plant in Maharashtra, for Vaidyanath SSK.

1999/00

Praj ventured into South America in 2000. An office was set up in Bogota, Colombia to reach out to South, Central America and Caribbean and partner customers in the region.
In the Year 2000, Praj manufacturing facility was awarded the ISO 9000:2008 and the prestigious ASME U & H stamps for pressure vessels and heating boilers.
Fuel Ethanol, the new driving force in the ethanol industry, has been gaining in its share of motor fuel not only in the Americas where over 60% of fuel ethanol is produced, but also in Australia, Thailand and in India.
Energy saving multi-pressure distillation systems, introduced by Praj, become an Industry Standard.
Praj bags technology & engineering orders in South America and the Caribbeans.

1996/99

Praj restructures with an aim to streamline the Company's operations and achieve greater focus in its strong technologies.
Praj increased its focus on its primary lines like ethanol technology and equipment, brewery engineering, fruit processing industry.
Praj commissions several grain based ethanol plants in India.

1993/95

Going Public and Listing on the Stock Exchanges in India, which was oversubscribed 7 times.
Praj also decided to spread its presence in the international market.
The first international order from Indonesia for multi-pressure distillation was contracted. It also incorporated the patented self-cleaning Flubex evaporator for concentration of distillery spent-wash.
Order from the Philippines amidst global competition was contracted for multi route plants. Praj continues to score in the South East Asian Markets.

1991/93

On the technical front, Praj undertook in-house development of Non-molasses (Starch based) technology and engineering for grains and tubers in 1993. Whilst in India most alcohol is produced from cane molasses route, Praj realized the importance of grains and tubers in the production of alcohol, a prevalent practice in the west.
Molasses was decontrolled and the entire industry went through a change phase. Grain based distilleries were being looked upon favorably. A dual route system was developed for cane molasses and grains.
At the same time, Praj also drew up a plan to diversify into synergistic fields like Brewery Engineering and plate heat exchangers which would make Praj a full Service Company for technology, process equipment and systems for industries it directly served.

1989/91

To further its commitment to the Ethanol industry Praj set up an R & D Center dedicated to ethanol production. Recognized by Govt. of India, DSIR, this center is equipped with analytical and instrumental laboratory and fermentation, distillation and effluent treatment pilot plants.

1987/88

Praj, one of the first Companies to receive Venture Capital from ICICI (now ICICI Ventures).1986
Praj collaborates with Vogelbusch, Austria for Continuous Fermentation Process in India.
Praj develops SPRANNIHILATOR, a zero-pollution system for treatment of distillery effluents.
The system was subsequently given an award for innovative concept.

1984/85

Inception of PRAJ. Beginning of PRAJ's journey into Agro-based process industry.
Ist Opportunity comes from Siddheswar Sahakari Sakhar Karkhana Ltd. (Solapur).