Praj Industries soared 8.27% to Rs 731.80 as the company targets a threefold increase in revenue by 2030 by focusing on new opportunities.
Praj Industries is targeting a threefold increase in revenue by 2030, focusing on opportunities in sustainable aviation fuel (SAF), biopolymers, and the energy transition & climate actions (ETCA) sector.The company expects the ETCA sector, with a global market potential, to be a key growth driver. Praj has invested heavily in modularization solutions to meet the growing demand for clean energy plant setups. The company aims to increase its export share from 29% to 50% by 2030.
Dr. Pramod Chaudhari, chairman of Praj Industries, highlighted the potential of the ETCA sector, with global investments in clean energy expected to reach Rs 25 lakh crore by 2030.
Praj has built a dedicated advanced manufacturing facility in Mangalore for modularization solutions, with an annual revenue potential of Rs 2000-2500 crore.
The company sees opportunities in SAF production, aligning with India's blending targets and the success of its first indigenous SAF flight in collaboration with Air Asia and Indian Oil.
Atul Mulay, president of Bioenergy business at Praj, revealed their goal to reach Rs 10,000 crore in revenue by 2030, from the current Rs 3400 crore. Currently, exports account for 29% of their revenue, with the company aiming to increase this to 50% by 2030.
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Praj Industries is a leading industrial biotechnology company focused on sustainable solutions for the environment, energy, and agri-process industries. With a global presence, the company offers technologies for renewable fuels (BioMobility) and sustainable chemicals and materials (Bio-Prism).
On a consolidated basis, the company's net profit fell 13.7% to Rs 53.82 crore on 7.5% decline in net sales to Rs 816.19 crore in Q2 September 2024 over Q2 September 2023.
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