Praj Industries

₹521 5.2 | 1%

WEBSITE BSE:522205 NSE : PRAJ IND.LTD 10 May, 16:01

Market Cap ₹9577 Cr.

Stock P/E 34.2

P/B 8.1

Current Price ₹521

Book Value ₹ 64.4

Face Value 2

52W High ₹650.3

Dividend Yield 0.86%

52W Low ₹ 345.2

Edit Ratio

Praj Industries Research see more...

Equity Research: Praj Industries

Equity Research report -- Praj Industries Limited

"Praj Industries" - Poised to Gain from Indias Strong Decarbonization Focus

Overview Inc. Year: 1985Industry: Engineering - Industrial Equipments

Praj Industries Ltd is engaged in the production of different Special- Purpose Machinery. The Company is in the business of process and project engineering. It caters to both domestic and worldwide markets. The Company additionally provides designing and engineering offerings. The Company's products and services include Bioenergy Plants, Engineering Businesses, and Research and improvement. The Bioenergy Plants produce generation of ethanol and renewable biogas that may substitute fossil fuels and promotes sustainable decarbonization thru round bioeconomy. The Engineering Businesses offers critical procedure gadget & skids, unique tasks, techniques & systems, brewery plants, water, and wastewater vegetation.

Praj Industries Share Price

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Peer Comparison

Praj Industries Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	532	586	831	732	881	911	1004	737	882	829
Other Income	10	9	7	9	9	8	16	16	17	10
Total Income	543	594	838	741	890	919	1020	753	899	839
Total Expenditure	490	538	753	679	816	825	896	665	805	732
Operating Profit	53	56	86	61	74	94	125	88	95	107
Interest	1	1	1	1	1	1	2	1	1	4
Depreciation	5	5	7	6	7	7	9	9	9	11
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	47	50	78	54	66	86	113	78	85	92
Provision for Tax	13	13	20	13	18	24	25	19	22	22
Profit After Tax	33	37	58	41	48	62	88	59	62	70
Adjustments	-0	0	-0	-0	-0	-0	-0	-0	-0	-0
Profit After Adjustments	33	37	58	41	48	62	88	59	62	70
Adjusted Earnings Per Share	1.8	2	3.1	2.2	2.6	3.4	4.8	3.2	3.4	3.8

Praj Industries Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	949	932	995	1079	812	964	1076	1106	1313	2223	3582	3452
Other Income	31	23	42	18	22	30	32	39	36	94	60	59
Total Income	980	955	1037	1097	834	994	1109	1145	1348	2317	3642	3511
Total Expenditure	864	853	910	965	743	916	997	1037	1210	2087	3288	3098
Operating Profit	116	102	127	132	91	78	112	108	138	230	354	415
Interest	2	1	2	2	1	1	1	3	3	3	5	8
Depreciation	22	24	38	25	22	24	23	22	22	23	30	38
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	92	77	86	105	68	53	88	83	113	205	319	368
Provision for Tax	21	20	8	23	23	14	20	13	32	55	79	88
Profit After Tax	72	57	78	82	45	39	68	70	81	150	240	279
Adjustments	-4	-2	-2	-0	0	0	-0	-0	-0	-0	-0	0
Profit After Adjustments	68	55	76	82	45	39	68	70	81	150	240	279
Adjusted Earnings Per Share	3.8	3.1	4.3	4.6	2.5	2.2	3.7	3.8	4.4	8.2	13.1	15.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	61%	48%	30%	14%
Operating Profit CAGR	54%	49%	35%	12%
PAT CAGR	60%	51%	44%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	45%	19%	34%	25%
ROE Average	24%	17%	14%	12%
ROCE Average	32%	24%	19%	16%

Praj Industries Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	571	583	622	655	710	726	745	719	802	916	1078
Minority's Interest	25	21	15	0	0	1	1	1	1	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	19	18	11	6	13	12	7	14	17	31	29
Total Current Liabilities	639	664	494	488	462	391	485	409	764	1270	1501
Total Liabilities	1253	1286	1142	1149	1185	1129	1238	1144	1583	2216	2608
Fixed Assets	247	323	302	272	256	283	276	280	270	272	303
Other Non-Current Assets	83	29	26	58	93	56	101	84	78	98	122
Total Current Assets	924	934	815	819	835	790	861	780	1235	1846	2182
Total Assets	1253	1286	1142	1149	1185	1129	1238	1144	1583	2216	2608

Praj Industries Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	72	68	44	75	60	69	77	64	46	101	107
Cash Flow from Operating Activities	28	-3	150	51	20	101	33	15	225	188	162
Cash Flow from Investing Activities	26	18	-80	-1	-8	-71	-6	62	-164	-140	-84
Cash Flow from Financing Activities	-58	-40	-40	-68	-4	-25	-43	-98	-6	-44	-93
Net Cash Inflow / Outflow	-5	-25	29	-18	8	6	-16	-21	54	4	-16
Closing Cash & Cash Equivalent	68	44	76	60	69	77	64	46	101	107	99

Praj Industries Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.83	3.08	4.3	4.63	2.49	2.18	3.73	3.85	4.42	8.18	13.05
CEPS(Rs)	5.24	4.52	6.54	6.04	3.72	3.51	4.99	5.04	5.63	9.41	14.7
DPS(Rs)	1.62	2.22	1.62	1.62	1.62	1.62	2.12	2.7	2.16	4.2	4.5
Book NAV/Share(Rs)	32.15	32.82	35.06	36.49	39.33	39.91	40.65	39.16	43.66	49.7	58.53
Core EBITDA Margin(%)	8.62	8.23	8.22	10.2	8.06	4.95	7.37	6.23	7.81	6.1	8.19
EBIT Margin(%)	9.61	8.15	8.62	9.6	8.08	5.58	8.24	7.8	8.83	9.33	9.03
Pre Tax Margin(%)	9.37	8	8.38	9.42	7.92	5.46	8.17	7.52	8.62	9.22	8.9
PAT Margin (%)	7.26	5.87	7.59	7.37	5.23	4.07	6.34	6.37	6.18	6.76	6.7
Cash Profit Margin (%)	9.45	8.35	11.26	9.61	7.83	6.55	8.47	8.34	7.86	7.78	7.54
ROA(%)	5.71	4.45	6.44	7.2	3.82	3.41	5.76	5.92	5.94	7.91	9.94
ROE(%)	12.73	9.8	12.99	12.97	6.58	5.53	9.31	9.65	10.68	17.54	24.13
ROCE(%)	16.26	13.17	14.29	16.39	9.94	7.49	12.01	11.78	15.25	24.15	32.44
Receivable days	119.62	120.69	106.35	105.61	141.76	104.81	96.29	104.83	108.95	79.25	66.58
Inventory Days	56.71	69.31	79.52	53.48	43.97	34.85	35.13	39.19	33.38	38.91	34.58
Payable days	168.77	188.22	140.77	134.33	210.74	137.81	137.73	138.47	129.78	104.13	75.25
PER(x)	9.55	17.06	14.53	19.26	32.19	36.84	41.56	14.32	44.01	48.69	26.12
Price/Book(x)	1.14	1.6	1.78	2.45	2.03	2.01	3.82	1.41	4.46	8.01	5.82
Dividend Yield(%)	4.43	4.23	2.59	1.82	2.03	2.01	1.37	4.9	1.11	1.05	1.32
EV/Net Sales(x)	0.62	0.96	1.03	1.41	1.68	1.43	2.55	0.87	2.62	3.22	1.71
EV/Core EBITDA(x)	5.08	8.77	8.1	11.5	15.02	17.64	24.6	8.87	24.87	31.13	17.3
Net Sales Growth(%)	-0.82	-1.77	6.72	8.42	-24.73	18.66	11.68	2.79	18.66	69.35	61.14
EBIT Growth(%)	-21.42	-17.18	13.35	20.92	-35.93	-21.32	63.77	-2.77	34.48	78.84	55.92
PAT Growth(%)	1.73	-21.03	38.45	5.42	-45.92	-11.46	72.73	3.27	15.08	85.35	59.62
EPS Growth(%)	1.38	-19.7	39.62	7.81	-46.35	-12.19	71.08	2.98	15.03	84.92	59.57
Debt/Equity(x)	0.03	0.04	0.03	0.02	0.01	0.01	0	0	0	0	0
Current Ratio(x)	1.45	1.41	1.65	1.68	1.81	2.02	1.77	1.91	1.62	1.45	1.45
Quick Ratio(x)	1.22	1.07	1.19	1.47	1.58	1.82	1.51	1.63	1.45	1.18	1.23
Interest Cover(x)	41.04	54.43	36.01	53.05	52.62	47.42	116.24	27.85	40.57	82.72	69.85
Total Debt/Mcap(x)	0.03	0.02	0.02	0.01	0	0	0	0	0	0	0

Praj Industries Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	32.83	32.83	32.83	32.82	32.87	32.82	32.82	32.82	32.81	32.81
FII	14.98	13.84	15.93	16.98	17.61	17.83	18.3	17.93	17.37	18.87
DII	8.4	8.83	10	10.33	7.69	7.84	8.4	10.2	13.09	13.69
Public	43.78	44.5	41.23	39.86	41.83	41.51	40.48	39.04	36.73	34.64
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	6.03	6.03	6.03	6.03	6.03	6.03	6.03	6.03	6.03	6.03
FII	2.75	2.54	2.93	3.12	3.23	3.28	3.36	3.29	3.19	3.47
DII	1.54	1.62	1.84	1.9	1.41	1.44	1.54	1.87	2.41	2.52
Public	8.04	8.17	7.57	7.32	7.68	7.63	7.44	7.17	6.75	6.37
Others	0	0	0	0	0	0	0	0	0	0
Total	18.37	18.37	18.37	18.37	18.35	18.37	18.37	18.37	18.38	18.38

Pros

Company has delivered good profit growth of 43% CAGR over last 5 years
Debtor days have improved from 104.13 to 75.25days.
Company is almost debt free.

Cons

Promoter holding is low: 32.81%.
Stock is trading at 8.1 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Praj Industries News

IPO

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Companies	Open Date	Close Date	Issue Price	Cost of 1 Lot	GMP	Expected Listing	Listing Gain(%)	Listing Price	Current Price	Type	Exchange

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Companies	Open Date	Close Date	Issue Price	Cost of 1 Lot	GMP	Expected Listing	Listing Gain(%)	Listing Price	Current Price	Type	Exchange

Companies	Open Date	Close Date	Issue Price	Cost of 1 Lot	GMP	Expected Listing	Listing Gain(%)	Listing Price	Current Price	Type	Exchange

Praj Industries

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Praj Industries Research see more...

Overview Inc. Year: 1985Industry: Engineering - Industrial Equipments

Praj Industries Share Price

Alert Data

Quarterly Price

Peer Comparison

Praj Industries Quarterly Results

Praj Industries Profit & Loss

Growth Rates

Praj Industries Balance Sheet

Praj Industries Cash Flow

Praj Industries Ratios

Praj Industries Shareholding Pattern

Praj Industries News

IPO

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