Praj Declares Q2 and HY2012 Results

PUNE, India, October 13, 2011 -

Growth in Sales, Profit and Order Book

Praj Industries (Praj), the integrated process solutions provider for biofuels, brewery, water & wastewater and process equipment globally, announced its unaudited financial results for Q2 and HY2012.

Performance Review for Q2FY2012:

• Income from operations stood at Rs. 228.90 crore (Rs. 108.77 crore).  A growth of 111% over corresponding quarter in previous fiscal.
• The EBITDA was at Rs. 19.27 crore in Q2FY2012 when compared to Rs. 8.60 crore in  Q2FY2011, a growth of 224%.
• PBT was Rs. 25.34 crore (Rs. 10.32 crore) for the period at a margin of 11% recording a growth of 145% .
• PAT for Q1FY12 was Rs. 20.50 crore (Rs. 8.90 crore), growth of 230% and the PAT margin stood at 9%.

Performance Review for HY2012:

• Income from operations stood at Rs. 393.60 crore (Rs.202.44 crore).  A growth of 95% over corresponding period in previous fiscal.
• The EBITDA was at Rs. 34.97 crore in HY2012 when compared to Rs. 17.28 crore in  HY2011.
• PBT was Rs. 42.62 crore (Rs. 22.33 crore) for the period at a margin of 11% recording a growth of 91% .
• PAT for HY12 was Rs.34.16 crore (Rs. 19.25 crore) and the PAT margin stood at 9%.

Key Developments during the  quarter:

• The order backlog as on date is Rs. 900 crore. Order intake during the quarter was Rs. 270 crores.
• Company received a key order from Illovo Sugar, a South African sugar major. This is the fourth Greenfield project contracted by Praj over the last two years in Africa region. The other orders  include Addax Bioenergy project in Sierra Leon and  Mumias Sugar in Kenya.
• New businesslines like water & wastewater treatment plants are also  showing traction with a major order win from Tirupur Industrial Belt for textile common effluent treatment (CETP).

• Praj has formed a wholly owned subsidiary, Praj South Africa PTY Ltd. and Praj Tanzania (a subsidiary of Praj South Africa) as part of the execution model of the Company in Africa.
• The Company inaugurated its new manufacturing facility at Kandla for manfacture of high thickness pressure vessels and static equipment such as Heat Exchangers, Columns, Reactors etc  required for Oil & Gas, Refineries, Petrochemicals and other high pressure applications.  This puts the Company’s manufacturing infrastructure in league with the top players in the industry.
• The Company also inaugurated a cGMP compliant production plant at Jejuri, near Pune for its range of biotech products which will be used in the production of ethanol, beer and sugar.

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 all other information on the results, log on to www.praj.net

For further information, please contact:
Vinati Moghe
Praj Industries Ltd.
Email: vinatimoghe@praj.net

Sohini Dam,
Manager Corporate Communications
+91-20-22951511/22952

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