Praj announces Q1 FY 2017-18 results

Pune, August 11, 2017: Praj Industries (Praj), the global process engineering and solutions provider for bioenergy, high purity water, brewery and process equipment, announced its unaudited financial results for Q1 FY18.

Performance Review for Q1 FY18 - Consolidated:

  • Income from operations stood at Rs. 192.78 crore (Q1 FY17: Rs. 204.93 crore, Q4 FY17: Rs. 311.70 crore)

  • PBT is at Rs. 0.49 crore (Q1 FY17: Rs. 4.90 crore, Q4 FY17: Rs. 36.75 crore)

  • PAT is at Rs. 0.41 crore (Q1 FY17: Rs. 4.11 crore, Q4 FY17: Rs. 22.78 crore)

    Reported results for the first quarter of fiscal 2017-18 were in line with the business environment that continues to remain challenging for the industries that Praj operates in, both in India as well as in the international markets. It is the Company's constant effort to enhance the relevance of its offerings and thereby, create value for the customers. Production of ethanol from agri-residue deploying 2nd generation technology is now an agenda of national interest in the discussion on energy security and combating climate change. This offers opportunities for Praj in the near future.

    Key Developments

    • The consolidated order backlog as on June 30, 2017 stood at Rs. 915 crore which comprised 47% international orders.

    • Praj's joint development agreement with Gevo Inc., USA entered commercialization phase for the production of iso-butanol from molasses. Gevo is expected to be the primary off-taker, marketer and initial distributor for iso-butanol produced from the plants in India.

    • On the eve of World Biofuels Day celebration held on 10th August, 2017 in Delhi, Hon. Minister of Petroleum & Natural Gas Mr. Dharmendra Pradhan announced finalization and early implementation of biofuel policy to accelerate immediate investments by Oil Marketing Companies to the extent of $2 bn and substantial investments in the coming years.

    • In July 2017, Praj was bestowed with the prestigious BT-CSR Excellence Award, 2017 in the Water Saving Category for water conservation project in Jalna district, one of the drought hit regions of Maharashtra state.

    • Praj has also been bestowed with the Best Supply Chain Management Practices award by the Indian Institute of Materials Management (IIMM) in the large manufacturing sector category.

Praj Industries Limited:

Praj is a global process solutions company driven by innovation and integration capabilities. Praj's business verticals comprise bio-energy, high purity water solutions and engineering businesses namely critical process equipment & systems, special projects and breweries. Over the past three decades, Praj has focused on environment, energy and agri process led applications. Praj has been a trusted partner for process engineering, plants & critical equipment and systems with over 750 references across 5 continents. Solutions offered by Praj are backed by its state of the art R&D Centre called Matrix. 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.

BSE: 522205; NSE: PRAJIND; Bloomberg: PRJ@IN; Reuters: PRAJBO; CIN: L27101PN1985PL0038031

For further information, please contact:

Surendra Khairnar / Priyanka Watane

Praj Industries Ltd.

Phone : 020 2294 1000

Email: surendrakhairnar@praj.net / priyankawatane@praj.net

Mayank Vaswani / Shikha Kshirsagar

CDR, India

Phone : 022 6645 1230 / 43

Email: mayank@cdr-india.com / shikha@cdr-india.com

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

PRAJ Industries Limited published this content on 11 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 August 2017 12:06:04 UTC.

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