Praj Industries Ltd. reported a fall in consolidated net profits in the third quarter of financial year 2025, missing analysts' estimates.
The company's net profit fell 42% on an annual basis to Rs 41.10 crore in Q3. This compares to the Rs 78-crore consensus estimate of Bloomberg analysts.
Praj Industries Q3 FY25 Highlights (Consolidated, YoY)
Revenue up 2.9% to Rs 853.03 crore versus Rs 828.62 crore (Estimate: Rs 951 crore).
Ebitda down 25% to Rs 72.71 crore versus Rs 97.55 crore (Estimate: Rs 115 crore).
Margins at 8.5% vs. 11.8% (Estimate: 12.1%).
Net profit down 42% to Rs 41.10 crore versus Rs 70.41 crore (Estimate: Rs 78 crore).
Shares of Praj Industries closed 3.37% lower at Rs 638.80 apiece on the BSE, compared to a 0.37% rise in the benchmark NSE.
All eight analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 28.4%.
The order intake for the December quarter stood at Rs 1,053 crore, higher as compared to Rs 921 crore in the preceding September quarter and Rs 1,037 crore in the year-ago period.
The order intake for the 9M FY25 stood at Rs 2,862 crore, lower as compared to Rs 3,201 crore in the year-ago period.
The consolidated order backlog as of December 31, 2024, stood at Rs. 4,341 crore, which comprises 67% domestic orders and 33% international orders.
“The company continues its positive journey as reflected in a growing order book as well as the constitution of orders in favour of increasing international business. Initial delays in readying the Mangalore facility have impacted the planned business activity for the GenX business in the current year, which we expect to recover as we move forward through the next financial year.” Praj Industries MD & CEO Shishir Joshipura said.
Key Developnments
The board approved the appointment of Ashish Gaikwad as managing director-designate for a period of five years with effect from Feb. 3, 2025, as CEO and managing director Shishir Joshipura will complete his tenure on June 30, 2025.
India’s first national highway constructed using bio-bitumen blended at 15% can achieve a 70% reduction in greenhouse gas emissions compared to conventional fossil-based bitumen.
The board has approved the formation of a joint venture with BPCL for setting up CBG plants across India. BPCL's board has already approved this in their board meeting earlier this month.
The company received a significant international order to set up a 50 kilolitre-per-day molasses-to-ethanol plant in Tanzania, Africa.
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