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Centrum Broking Report
Praj Industries Ltd. reported its Q3 FY23 numbers which were in line with our estimates mainly on the consolidated revenue front as the company posted YoY growth of 55.4% at Rs 9100 million versus our estimates of Rs 9033 million.
However, on the consolidated earnings front Praj Industries posted an impressive 68.0% YoY increase to Rs 623 million ~8.6% above our estimates of Rs 574 million.
This beat is primarily due to margin expansion. On the consolidated Ebitda margins front it posted 9.5% (versus 8.1% in Q3 FY22) higher than our estimates of 9.0%. These are best Ebitda margin reported by the company is last seven quarters.
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