Praj Industries

₹310.8 1.6 | 0.5%

WEBSITE BSE:522205 NSE : PRAJ IND.LTD 28 Mar, 11:17

Market Cap ₹5709 Cr.

Stock P/E 27.1

P/B 5.8

Current Price ₹310.8

Book Value ₹ 53.8

Face Value 2

52W High ₹461.5

Dividend Yield 1.35%

52W Low ₹ 289.1

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.

Quarterly Price

Quarterly Monthly

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Peer Comparison

Praj Industries Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	260	348	567	386	532	586	829	730	877	910
Other Income	6	6	7	6	10	9	11	9	9	8
Total Income	266	354	574	392	543	594	840	739	886	918
Total Expenditure	244	309	495	356	490	538	755	677	812	824
Operating Profit	22	45	79	36	53	56	86	61	74	94
Interest	1	1	1	1	1	1	1	1	1	1
Depreciation	6	6	5	5	5	5	7	6	7	7
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	16	39	73	30	47	50	78	54	66	86
Provision for Tax	4	11	21	8	13	13	20	13	18	24
Profit After Tax	11	28	52	22	33	37	58	41	48	62
Adjustments	0	0	0	0	-0	0	0	0	0	-0
Profit After Adjustments	11	28	52	22	33	37	58	41	48	62
Adjusted Earnings Per Share	0.6	1.5	2.8	1.2	1.8	2	3.1	2.2	2.6	3.4

Praj Industries Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	957	949	932	995	1079	812	964	1076	1106	1313	2213	3346
Other Income	45	31	23	42	18	22	30	32	30	26	36	37
Total Income	1002	980	955	1037	1097	834	994	1109	1136	1338	2249	3383
Total Expenditure	865	864	853	910	965	743	916	997	1028	1200	2019	3068
Operating Profit	137	116	102	127	132	91	78	112	108	138	230	315
Interest	1	2	1	2	2	1	1	1	3	3	3	4
Depreciation	16	22	24	38	25	22	24	23	22	22	23	27
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	119	92	77	86	105	68	53	88	83	113	205	284
Provision for Tax	49	21	20	8	23	23	14	20	13	32	55	75
Profit After Tax	70	72	57	78	82	45	39	68	70	81	150	209
Adjustments	-2	-4	-2	-2	-0	0	0	-0	-0	-0	-0	0
Profit After Adjustments	68	68	55	76	82	45	39	68	70	81	150	209
Adjusted Earnings Per Share	3.8	3.8	3.1	4.3	4.6	2.5	2.2	3.7	3.8	4.4	8.2	11.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	69%	27%	22%	9%
Operating Profit CAGR	67%	27%	20%	5%
PAT CAGR	85%	30%	27%	8%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-13%	77%	31%	24%
ROE Average	18%	13%	11%	11%
ROCE Average	24%	17%	14%	15%

Praj Industries Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	553	571	583	622	655	710	726	745	719	802	916
Minority's Interest	26	25	21	15	0	0	1	1	1	1	1
Borrowings	2	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	18	19	18	11	6	13	12	7	14	17	30
Total Current Liabilities	654	639	664	494	488	462	391	485	409	764	1265
Total Liabilities	1254	1253	1286	1142	1149	1185	1129	1238	1144	1583	2211
Fixed Assets	241	247	323	302	272	256	283	276	280	270	272
Other Non-Current Assets	51	83	29	26	58	93	56	101	84	78	98
Total Current Assets	962	924	934	815	819	835	790	861	780	1235	1841
Total Assets	1254	1253	1286	1142	1149	1185	1129	1238	1144	1583	2211

Praj Industries Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	79	72	68	44	75	60	69	77	64	46	101
Cash Flow from Operating Activities	24	28	-3	150	51	20	101	33	15	225	175
Cash Flow from Investing Activities	36	26	18	-80	-1	-8	-71	-6	62	-164	-127
Cash Flow from Financing Activities	-69	-58	-40	-40	-68	-4	-25	-43	-98	-6	-44
Net Cash Inflow / Outflow	-9	-5	-25	29	-18	8	6	-16	-21	54	4
Closing Cash & Cash Equivalent	72	68	44	76	60	69	77	64	46	101	107

Praj Industries Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	3.78	3.83	3.08	4.3	4.63	2.49	2.18	3.73	3.85	4.42	8.18
CEPS(Rs)	4.83	5.24	4.52	6.54	6.04	3.72	3.51	4.99	5.04	5.63	9.41
DPS(Rs)	1.62	1.62	2.22	1.62	1.62	1.62	1.62	2.12	2.7	2.16	4.2
Book NAV/Share(Rs)	30.82	32.15	32.82	35.06	36.49	39.33	39.91	40.65	39.16	43.66	49.7
Core EBITDA Margin(%)	9.3	8.62	8.23	8.22	10.2	8.06	4.95	7.37	7.06	8.56	8.76
EBIT Margin(%)	12.17	9.61	8.15	8.62	9.6	8.08	5.58	8.24	7.8	8.83	9.37
Pre Tax Margin(%)	12.05	9.37	8	8.38	9.42	7.92	5.46	8.17	7.52	8.62	9.26
PAT Margin (%)	7.11	7.26	5.87	7.59	7.37	5.23	4.07	6.34	6.37	6.18	6.79
Cash Profit Margin (%)	8.76	9.45	8.35	11.26	9.61	7.83	6.55	8.47	8.34	7.86	7.81
ROA(%)	6.17	5.71	4.45	6.44	7.2	3.82	3.41	5.76	5.92	5.94	7.92
ROE(%)	12.65	12.73	9.8	12.99	12.97	6.58	5.53	9.31	9.65	10.68	17.54
ROCE(%)	21.2	16.26	13.17	14.29	16.39	9.94	7.49	12.01	11.78	15.25	24.15
Receivable days	102.2	119.62	120.69	106.35	105.61	141.76	104.81	96.29	104.83	108.95	79.61
Inventory Days	46.64	56.71	69.31	79.52	53.48	43.97	34.85	35.13	39.19	33.38	39.09
Payable days	133.16	168.77	188.22	140.77	134.33	210.74	137.81	137.73	138.47	129.78	104.91
PER(x)	21.21	9.55	17.06	14.53	19.26	32.19	36.84	41.56	14.32	44.01	48.69
Price/Book(x)	2.6	1.14	1.6	1.78	2.45	2.03	2.01	3.82	1.41	4.46	8.01
Dividend Yield(%)	2.02	4.43	4.23	2.59	1.82	2.03	2.01	1.37	4.9	1.11	1.05
EV/Net Sales(x)	1.37	0.62	0.96	1.03	1.41	1.68	1.43	2.55	0.87	2.62	3.24
EV/Core EBITDA(x)	9.58	5.08	8.77	8.1	11.5	15.02	17.64	24.6	8.87	24.87	31.13
Net Sales Growth(%)	38.5	-0.82	-1.77	6.72	8.42	-24.73	18.66	11.68	2.79	18.66	68.59
EBIT Growth(%)	83.27	-21.42	-17.18	13.35	20.92	-35.93	-21.32	63.77	-2.77	34.48	78.83
PAT Growth(%)	23.39	1.73	-21.03	38.45	5.42	-45.92	-11.46	72.73	3.27	15.08	85.35
EPS Growth(%)	20.99	1.38	-19.7	39.62	7.81	-46.35	-12.19	71.09	2.98	15.03	84.92
Debt/Equity(x)	0.04	0.03	0.04	0.03	0.02	0.01	0.01	0	0	0	0
Current Ratio(x)	1.47	1.45	1.41	1.65	1.68	1.81	2.02	1.77	1.91	1.62	1.46
Quick Ratio(x)	1.22	1.22	1.07	1.19	1.47	1.58	1.82	1.51	1.63	1.45	1.18
Interest Cover(x)	104.36	41.04	54.43	36.01	53.05	52.62	47.42	116.24	27.85	40.57	82.79
Total Debt/Mcap(x)	0.02	0.03	0.02	0.02	0.01	0	0	0	0	0	0

Praj Industries Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	32.92	32.92	32.91	32.85	32.83	32.83	32.83	32.83	32.82	32.87
FII	12.26	12.25	11.62	13.12	15	14.98	13.84	15.93	16.98	17.61
DII	16.06	16.12	15.21	7.13	6.84	8.4	8.83	10	10.33	7.69
Public	38.77	38.71	40.26	46.9	45.32	43.78	44.5	41.23	39.86	41.83
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	6.03	6.03	6.03	6.03	6.03	6.03	6.03	6.03	6.03	6.03
FII	2.24	2.24	2.13	2.41	2.76	2.75	2.54	2.93	3.12	3.23
DII	2.94	2.95	2.79	1.31	1.26	1.54	1.62	1.84	1.9	1.41
Public	7.1	7.09	7.38	8.61	8.32	8.04	8.17	7.57	7.32	7.68
Others	0	0	0	0	0	0	0	0	0	0
Total	18.32	18.32	18.32	18.36	18.37	18.37	18.37	18.37	18.37	18.35