BWI: Praj Declares Q3 and 9MFY2012 Results

Press release from Business Wire India
Source: Praj Industries Limited
Friday, January 20, 2012 01:08 PM IST (07:38 AM GMT)
Editors: General: Consumer interest, Economy; Business: Business services, Chemicals, Financial Analyst, Heavy industries, Stock exchanges, Water; Technology
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Praj Declares Q3 and 9MFY2012 Results
Continued business growth supported by inorganic initiatives

Pune, Maharashtra, India, Friday, January 20, 2012 -- (Business Wire India) -- Praj Industries (Praj), the integrated process engineering and solutions provider for biofuels, brewery, water & wastewater and process equipment globally, announced its unaudited financial results for Q3 and 9MFY2012.

Performance Review for Q3FY2012:

-- Income from operations stood at Rs. 219.25 crore (Rs. 148.24 crore). A growth of 48% over corresponding quarter in previous fiscal.

-- The EBITDA (excluding other income) was at Rs. 20.68 crore in Q3FY2012 when compared to Rs. 11.30 crore in Q3FY2011, a growth of 83%.

-- PBT was Rs. 27.34 crore (Rs. 15.23 crore) for the period at a margin of 11.91% recording a growth of 80% .

-- PAT for Q3FY12 was Rs. 21.50 crore (Rs. 13.66 crore), growth of 57% and the PAT margin stood at 9.36%.

Performance Review for 9MFY2012:

-- Income from operations stood at Rs. 612.85 crore (Rs. 350.68 crore). A growth of 74.76% over corresponding period in previous fiscal.

-- The EBITDA (excluding other income) was at Rs. 55.65 crore in 9MFY2012 when compared to Rs. 28.57 crore in 9MFY2011.

-- PBT was Rs. 69.95 crore (Rs. 37.55 crore) for the period at a margin of 10.98% recording a growth of 86.28%.

-- PAT for 9MFY12 was Rs. 55.66 crore (Rs. 32.91 crore) and the PAT margin stood at 8.74%.

Pramod Chaudhari, Executive Chairman said,"strategic actions implemented over past two years has ensured improved performance inspite of difficult economic conditions worldwide. Praj will continue to pursue newer initiatives and technological advancements in its effort to achieve sustained growth in coming years."

Key Developments during the quarter:

-- The order backlog as on date is Rs. 900 crore.

--Praj Industries acquired a 50.2% stake in Mumbai based Neela System Ltd. for Rs. 64 crore. Neela systems is a leader in the high purity water segment. It has a state-of-the-art manufacturing facility at Thane, Mumbai to build US FDA, UKMCA and WHO compliant systems and has business interests in Water Treatment and Modular Process Systems, focused on Pharma, Life Sciences,cosmetics and F&B

-- The Board had approved the proposal of buyback of a maximum of 62.07 lakh shares at a price not exceeding Rs. 90 per share for an aggregate amount of Rs. 55.8 crore. The Buyback commenced on Dec 26, 2011.

Attached: Details to the release and results table

About Praj Industries Limited:

Praj is a global Indian company that offers innovative solutions to add significant value to bio-ethanol facilities, brewery plants, water & wastewater treatment systems as well as process engineering, plant & equipment for customers worldwide. With over 500 references across five continents, Praj is a leading Ethanol Technology & Plant supplier with a strong focus on second-generation bioethanol process development. Praj Matrix - the innovation center, is the R & D Center of Praj Industries. Praj is a knowledge-based company with expertise and experience in bioprocesses and engineering. It delivers know-how, license, engineering design, plant & equipment, project management, commissioning and customer care, and turnkey projects. Led by an accomplished and caring leadership, Praj is a socially responsible corporate citizen. Praj is listed on the Bombay and National Stock Exchanges of India. For more information, visit www.praj.net

Details to the announcement

Note: Some of the statements made in the release could be forward-looking in nature. Such forward-looking statements remain subject to risks and contingencies particularly concerning but not limited to governmental policies, economic developments and technological factors. This may cause actual performance to differ materially from that observed through the relevant forward-looking statement. Praj Industries will not in any way be responsible for action taken based on such forward-looking statements and undertakes no commitment to update these forward-looking statements publicly, to reflect changed realities.

For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Advt. Results December 2011.pdf
Advt. Results December 2011.pdf
http://www.BusinessWireIndia.com/attachments/Details to the announcement.pdf
Details to the announcement.pdf


CONTACT DETAILS
Vinati Moghe, Praj Industries Limited, +91 020 39806314, vinatimoghe@praj.net
Mayank Vaswani, Citigate Dewe Rogerson, +91 (22) 6645 1230, mayank@cdr-india.com
Rishab Barar, Citigate Dewe Rogerson, +91 66451238, rishab@cdr-india.com

KEYWORDS
CONSUMER, ECONOMY, BUSINESS SERVICES, CHEMICALS, Financial Analyst, HEAVY INDUSTRIES, STOCK EXCHANGES, WATER, TECHNOLOGY

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