During Friday’s trading session, the shares of a technologically advanced biotechnology and engineering company slumped nearly 6.2 percent to Rs. 595 on BSE, after the company reported muted Q3 FY25 results.
With a market cap of Rs. 11,317.4 crores, at 12:03 p.m., the shares of Praj Industries Limited were trading in the red at Rs. 615.7, down by around 3 percent, as compared to its previous closing price of Rs. 634.65.
What’s the news
The fluctuations in the share prices were observed after Praj Industri Limited announced the financial results for Q3 FY25, through the rece filings with the stock exchange
For Q3 FY25, Praj Industries reported consolidated revenue from operations of Rs. 853 crores, registering an increase of around 4.5 percent QoQ from Rs. 816.2 crores in Q2 FY25, as well as a rise of about 3 percent YoY from Rs. 828.6 crores in Q3 FY24.
The company’s net profit for Q3 FY25 fell to Rs. 41 crores, representing decline of around 23.6 percent QoQ from Rs. 53.8 crores in Q2 FY25, and a year-on-year decrease of nearly 41.6 percent from Rs. 70.4 crores in Q3 FY24.
In Q3 FY25, the company reported a decrease in EBITDA to Rs. 72.7 crores, reflecting a 25.4 percent YoY decline compared to Rs. 97.5 cror in Q3 FY24. Similarly, the EBITDA margin declined by 325 bps to 8.52 percent, down from 11.77 percent in the same period last year.
Key developments & Order Book in Q3 FY25
The company’s Board has approved the formation of a joint venture (JV) with BPCL for setting up CBG plants across India. BPCL board has already given its approval in their meeting earlier this month.
Praj Industries received a significant international order to set up KLPD Molasses to Ethanol plant in Tanzania, Africa.
In Q3 FY25, the company’s order intake reached Rs. 1,053 crores. The order backlog stood at Rs. 4,349 crores, which comprises of 67 percent domestic orders and 33 percent international orders.
Stock Performance
The stock has delivered positive returns of nearly 22 percent in one year, while around 13 percent of negative returns in the last six months. Moreover, the shares of Praj Industries have given negative returns of about 26 percent in the last one month.
About the Company
Founded in 1983, Praj Industries Limited is engaged in the business of process and project engineering, along with providing design and engineering services, serving both domestic and international markets.
The company’s diverse portfolio comprises bio-energy solutions, critical process equipment & modularization, breweries, zero liquid discharge systems and high-purity water systems.